New Delhi: Mankind Pharma is investing around Rs 100 crore to set up an active pharmaceutical ingredients (API) facility in Rajasthan, which is expected to go on stream by the end of the year.
The Delhi-based firm, which manufactures various over-the-counter (OTC) products including condoms, said the new facility would produce bulk APIs.
"We are coming up with an API centre in Rajasthan which will be functional by end of this year and will give boost to the pharma industry by manufacturing affordable drugs in the country," Mankind Pharma chairman and founder R C Juneja said in a statement.
The company, which employs around 12,000 people, currently has 14 manufacturing units across the country. It has presence in various therapeutic segments, including antibiotics and erectile dysfunction categories. It also markets various OTC brands including, Manforce Condoms and PregaNews.