Shilpa Medicare Ltd. said its facility at Pharma Park Jadcherla SEZ near Mahaboobnagar in Andhra Pradesh for undertaking "Contract Research & Forward Integration, i.e., Own Formulation" (Manufacturing of Oral & Injectible (Onco Products) had commenced functioning partially.
The company said the facility for manufacture of Formulation section would commence commercial production in stages after successful completion of trial production/stability tests etc., which was underway.
The company had visualized Contract Research as one of the thrust area few years back and invested in creating Research & Development Centre's at two places, which has started yielding results. It expects that this will grow in time to come and will become an important source of income, besides inventing new/improved products for the company.
At the BSE, Shilpa Medicare shares are currently trading at Rs.273.10, down 0.69 percent from the previous close.
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