Pharma firm Nutraplus India is planning to enter the formulations segment as it also takes steps to strengthen presence in the active pharmaceutical ingredients (APIs).
"As a forward integration measure, we look forward to enter into the formulations segment of the pharmaceutical market, which would help us to have greater economies of scale and better margins," Nutraplus India said in a investor presentation.
"Instead of targeting high margin branded APIs, we are targeting generic/unbranded APIs which have higher growth potential as countries try to reduce their overall healthcare costs," Nutraplus India said.
Even in the face of stiff competition, the company plans to increase manufacturing capacity and gain traction in the Indian domestic APIs industry, it added.
The company is also planning to manufacture around 50 APIs in the next three years, Nutraplus India said.
The Mumbai based firm has acquired land for a manufacturing facility in Dahej in Gujarat and expects to start commercial operations in about 18 months.
Shares of Nutraplus India closed at Rs 85.70 per scrip on BSE today, down 0.17 per cent from its previous close.
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