The committed investment for Penicillin G is Rs 1,392 crore, and for 7-ACA is Rs 813 crore. Aurobindo (through Qule Pharma) has also received approval for setting up plant for Erythromycin Thiocyanate (TIOC), with committed production capacity of 1,600 MT at a committed investment of Rs 834 crore, the report suggest.
The commercial production is projected to commence from the financial year 2023-24 (FY24). In addition to the government incentives for the fermentation products, it will enhance the company's backward integration in antibiotics and open-up new revenue streams to support the company's growth prospects in the future, ICICI Securities said in a note.
was trading 4 per cent higher at Rs 957 on the BSE, against 0.21 per cent gain in the S&P BSE Sensex. The counter has seen huge trading volumes with a combined 2.9 million equity shares changing hands on the BSE and NSE, till the filing of this report. The stock hit a record high of Rs 997 on January 5.
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