Nectar Lifesciences plans to make an investment of Rs 600 crore in Punjab

Submitted by Shiela Rao on Fri, 11/13/2009 - 19:53

Pharmaceutical major Nectar Lifesciences Limited has decided to pump Rs 600 crore with the aim to establish a drug plant in Punjab.

The new facility will mark company’s diversification into dissimilar therapeutic spaces including oncology, cardiovascular, anti-diabetics as well as anti- HIV segment.

The company also envisages to enhance sales three-times in the coming five years to approximately Rs 4,000 crore.

In a declaration, the company said that the new plant which will cover 148 acres of land, will be located at Lalru in Punjab.

The sources close to company said that the new facility is likely to be on stream by fiscal 2011.


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