After Zydus Cadila and Torrent Pharma, Gujarat-based Alembic is planning to set up a formulations unit in Sikkim.Confirming the development, Chirayu Amin, chairman and managing director, Alembic, said work on the project is on. "The project is likely to cost Rs 40 crore," he added.The 100-year-old company is also planning to set up a pharma special economic zone (SEZ) near Vadodara. Amin, however, refused to divulge details about the project.The project will come up on a 200-acre land near Vadodara, sources close to the development said. The company will set up bulk and formulations units in the SEZ.
