Granules India to invest $12.5 mn in US

Hyderabad: Granules India Ltd, a city-based pharmaceutical company said it has forayed into pharmaceutical packaging operation in USA. The new facility will come up at Prince William County, Virginia, USA at an investment of $12.5 million. The unit will be part of the company's Consumer Health division, previously outsourced services will now be in-house.

Granules said it will lease 79,000 sft of the Parkway 66 property at 7413 Cushing Road in Manassas. Here, the company will build packaging lines and clean rooms to package and ship pharmaceuticals.

"The company chose Virginia because of Prince William County's responsiveness which allowed Granules faster access to commercialisation. In addition, Prince William offers a diverse workforce with the site's proximity to several major seaports. Granules also chose to expand within Virginia to leverage its existing manufacturing footprint and workforce," said Dr Krishna Prasad Chigurupati, Founder and Managing Director, Granules India Ltd.

The founder further said that the addition of packaging facility will result in Granules being vertically integrated from API to packaging. This will result in a robust supply chain while also enabling the company to react faster to consumers' growing needs for pharmaceutical products, he added.

"Granules India's new packaging operation in Prince William County is an important addition to the pharmaceutical ecosystem in the Commonwealth. We look forward to further develop this partnership," said Glenn Youngkin, Governor of Virginia.