USV to invest Rs 60 crore for expansion

Mumbai-based pharmaceutical company USV is investing over Rs 60 crore to set up a new injectable manufacturing unit and expand its research and development (R&D) centre.

The company also plans to spend another Rs 100 crore in two-three years to create new manufacturing facilities, depending on the success of its recombinant protein products currently under development.

The Rs 650 crore company, which invested over

Rs 130 crore in the last three years to develop new facilities at Baddi in Himachal Pradesh and Nerul in Navi Mumbai for biotech drugs, is also setting up a unit to manufacture recombinant products at Roha in Maharashtra.

This unit will take off soon. The injectible facility and expansion of the R&D centre in Mumbai with more infrastructure is aimed at propelling its foray into the biotech segment and exports to the regulated markets of the US and Europe, Managing Director Prashant Tewari said.

"We have around eight biosimilar drugs under development and two in pre-clinical stage to be over by June," he added.