Pharma major, Cipla is planning to invest Rs 500 crore for setting up active pharmaceutical ingredients (API) facilities at Patalganga, Bengaluru and Kurkumbh. The company aims to complete setting up of these facilities by 2012-13.
The company is in the process of developing bio-similar/ bio-therapeutic products through its partners in China. It is expected that the clinical trials on these drugs will be completed in 2-3 years and subsequently, the products will be launched in India.
On standalone basis, the company has reported a surge of 58.19% in its net profit at Rs 400.76 crore for the quarter, as compared to Rs 253.34 crore for the same quarter in the previous year. Total income of the company has increased by 23.85% to Rs 2011.25 crore for the quarter under review as compared to Rs 1623.98 crore for the quarter ended June 30, 2011.
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