With 350% stock gain, drugmaker Laurus Labs seeks to boost capacity

The pharmaceutical sector is the top performer in India's $2.1 trillion equity market this year after the coronavirus pandemic turned global investors' spotlight on health-care companies

Indian pharmaceutical company Laurus Labs Ltd. plans to spend as much as 15 billion rupees ($202 million) over the next 24 months to expand its production capacity, according to its chief executive officer.

“We have a good visibility of orders going forward and this large capital outlay will help us meet the needs of the customers,” Satyanarayana Chava, also the company’s founder, said in a phone interview Thursday after it reported second-quarter profit that rose more than fourfold from a year earlier to 2.43 billion rupees.

The pharmaceutical sector is the top performer in India’s $2.1 trillion equity market this year after