Natco Pharma aims to launch around 10 new products every year in the Indian market, the city-based drugmaker said on Thursday.
"Our strategy remains intact as we invest prudently in our research, manufacturing plants and enriching of skill sets. We are on track on our goal to launch 8-10 new products every year across our pharma business segments in India. We also have some interesting filings and high-value launches in our international markets in the coming years," VC Nannapaneni, chairman of the company said in his speech at the Annual General Meeting.
During the year, Natco spent Rs 349 crore on capital expenditure, a majority of which was used to enhance capabilities of their manufacturing facilities.
A significant portion of the apex was done at the company's facility in Visakhapatnam in Andhra Pradesh while the remaining part was primarily used in the formulation facilities across the country, he said.
With diversification and sustainability in mind, the company has invested in the Crop Health Sciences division targeting niche products.
A Greenfield project in Nellore district of Andhra Pradesh is close to completion and expected to be commissioned during FY 2020-21, he added.