Mangalam Drugs & Organics commissions new intermediate manufacturing facility in Gujarat; Stock ends 6% up

This intermediate is an import substitute and an important raw material, which the Company was importing from China.

Jun 18, 2021 04:06 IST India Infoline News Service

Mangalam Drugs and Organics Limited is inter-alia engaged in the business of manufacturing of various Active Pharmaceutical Ingredients (APIs).

The Company has announced the commissioning of new intermediate manufacturing facility at Unit 1 located in Vapi, Gujarat. This intermediate is an import substitute and an important raw material, which the Company was importing from China.

"Ours is the first Company in the organized sector to manufacture this in-house. This will enable us to reduce our reliability on Chinese imports for this product and help to maintain uninterrupted supply chain to a great extent", said company.

"This being a multi-product manufacturing facility, it will also support production of a few more intermediates that are presently being imported from China, thus making us self-sufficient to a great extent", it added.

Mangalam Drugs and Organics ended at Rs149.70 per piece up by Rs8.95 or 6.36% on the BSE.

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