US-headquartered Amneal Pharmaceuticals to invest up to USD 200 mn in India to set up 2 plants

US-based Amneal Pharmaceuticals on Tuesday said it would invest up to USD 200 million (nearly Rs 1,680 crore) in India over the next four to five years to build two new manufacturing facilities in Ahmedabad.

Of two greenfield facilities planned, one will be for peptide synthesis and one for advanced sterile fill-finish manufacturing, the company said in a statement.

"In this latest expansion in India, Amneal will make a total net investment of between USD 150 million and USD 200 million over the next four to five years to build two new greenfield facilities...," it said.

Commenting on the development, Amneal Pharmaceuticals co-founders and co-chief executive officers Chirag Patel and Chintu Patel said, "With these new facilities, we are proud to be at the forefront of developing and manufacturing innovative, branded medicines at scale in India, which will supply the local market and the rest of the world." 

The company which started operations in India in 2008, currently has 8 manufacturing sites, including 5 in Ahmedabad with additional sites in Dahej, Hyderabad and Vizag, and commercial offices in Mumbai. 

It has invested approximately USD 600 million in India over the past 10 years.

These facilities have a collective capacity of producing up to approximately 60 million units of injectables and 8.5 billion tablets annually, the company said.