Aurobindo Pharma arm to invest around 300 cr for expansion of biologics manufacturing facilities

2 Sep 2022 , 10:17 AM

The pharmaceutical company said that the capital expenditure for ramping up capacities is estimated to be around Rs 300 crore. The facility is likely to be fully operational by FY 2026, it added. Meanwhile, the board has also approved entering into contract manufacturing operations (CMO) for biologicals for effective utilization of capacities and augmenting the business prospects in this area as the global biologics contract manufacturing demand is growing at 8 to 10% rate. CuraTeQ will actively seek customers in CMO area. Furthermore, the pharma company said that the board of its another wholly owned subsidiary, Auro Vaccines (Auro) which is engaged in business of developing and manufacturing vaccines biologicals, has also decided to explore the possibilities of offering contract manufacturing to global vaccine developers so as to effectively utilise its existing manufacturing capacity. Auro will actively seek customers in this space, the company added. Aurobindo Pharma develops, manufactures and distributes generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients. The pharmaceutical company reported 32.4% fall in consolidated net profit to Rs 520.5 crore in Q1 FY23 from Rs 770 crore in Q1 FY22. Revenue from operations increased 9.4% YoY to Rs 6,235.9 crore in Q1 FY23. Shares of Aurobindo Pharma were up 0.28% to Rs 540.60 on the BSE. Powered by Capital Market – Live News