Akums Drugs and Pharmaceuticals Limited ("Akums"), a contract manufacturing pharmaceutical company in India, on Tuesday announced the acquisition of a new formulation facility in Baddi, Himachal Pradesh. This facility, the 12th under Akums and the second in Baddi, will enhance the company's tablet manufacturing capacity, as per the release.
The newly acquired facility, spread across approximately 6 acres, is currently being upgraded and is likely to be operational in 2024.
"Once operational, the Baddi facility will play a significant role in augmenting our manufacturing capabilities, allowing us to efficiently address the needs of our clients," said Sanjeev Jain, Joint Managing Director, Akums.
Akums has a network of manufacturing facilities which create pharmaceutical formulations of numerous dosage forms in various therapeutic segments. According to market sources, the company is also planning to launch its initial public offering (IPO) next year.