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Promed Of India To Spend $27.5 Million Expanding Next Three Years

This article was originally published in PharmAsia News

Executive Summary

India's Promed Group says it plans to make a large investment over the next three years to expand its overseas market and the capacity to deal with it. President Deepak Bahri said at a news conference the company plans to pour $27.5 million into the expansion, nearly half of it to double the capacity of one of its production plants. Other plants would be built in developed countries if the firm gets approvals from regulators, he said. Bahri said Promed expects to get European Union clearance for his plant yet this year and U.S. FDA approval next year. Promed plans to introduce as many as a dozen generics a year. (Click here for more
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