Ankur Drugs sells Himachal Pradesh facility to Akums Drugs

The planned capacities of the new facility are 6 billion tablets and 90 million units of oral liquids per annum.

The plant is expected to be fully operational by the end of this year, the company stated without disclosing the financial details.

''We, at Akums, are already leading the market in many areas and, hence, we also know there is so much yet to be done. With this new facility in Nalagarh in Solan, Himachal Pradesh, we are trying to bridge some more capacity gaps in the pharma industry,'' Akums Drugs & Pharmaceuticals Founder and Director Sandeep Jain said in a statement.

The acquisition is a step towards achieving the goal of 20 per cent market share, Akums Drugs & Pharmaceuticals Founder and Director Sanjeev Jain stated.

''In 2021, our supplies made up around 12 per cent of the total market. With this new facility acquisition in Himachal Pradesh and our previous acquisition in Kotdwar, Uttarakhand, in August 2021, we have bolstered our total capacity further,'' he added.

The operations at the Kotdwar plant have begun recently, while that of the new plant in Himachal Pradesh is likely to start its operations by December 2022, Jain stated.

Both Sandeep Jain and Sanjeev Jain are also promoters of the company.

Akums currently supplies products to nearly all domestic and multinational pharmaceutical companies.

The company has ten facilities dedicated to oral solid dosage forms, oral liquid dosage forms, sterile dosage forms (injectable, eye, ear & nasal), hormonal (oral and injectable), ointments and cosmetics among others.