Granules India board clears proposal to set up subsidiary in Hyderabad
New Delhi: Drug firm Granules India on Monday said its board has approved a proposal to set up a subsidiary in Hyderabad to build a greenfield facility for formulations business.
"The Board of Directors at their meeting has approved to incorporate a wholly-owned subsidiary of the company in Hyderabad, India to build a greenfield facility for formulations business," Granules said in a regulatory filing.
The company, however, did not share more details, reports PTI.
Read also: Granules, Laurus Labs to invest Rs 700 crores for setting up Greenfield facilities
Granules India is an Indian pharmaceutical manufacturing company that was founded in 1984 named as Triton Laboratories located in Hyderabad, India.
Granules manufactures varieties of drugs including Paracetamol, Ibuprofen, Metformin, and Guaifenesin, on a large scale for customers in the domestic as well as international markets.
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