RPG Life Sciences plans to invest about Rs 60 crore over 3 years to make an entry in a specialised oncology and psychiatry drug segments.
As reported that the move is taken looking at the surging sales figures which is 20% annually and hence the market has immense potential. To this line, RPG Life plans to launch nine new products in July.
RPG Life Sciences, a part of the Rs 16-billion-rupee RPG group, which has interests in tyres, energy, infrastructure, information technology and other sectors, reported sales of 1.63 billion rupees on net profit of Rs 10.8 crore for in FY10.
The new product line would bolster the revenue generation of the company in the next fiscal, FY12 and not the current.
The drugmaker has invested Rs 25 crore over the last 2 years to expand and upgrade its manufacturing units in Mumbai and Ankaleshwar in the state of Gujarat. It does not plan to raise the funds through the market.