VKT Pharma to come up with Rs.200 crore in AP
Visakhapatnam: SMS Pharma Group with an annual turnover of Rs.500 crore has five units in Telangana near Hyderabad and two in Andhra Pradesh in Visakhapatnam and Srikakulam districts.
SMS has set up its unit VKT Pharma Private Limited at Derasam village in Srikakulam by investing Rs.200 crore in the first phase and another Rs.300 in the next two phases.
It has invested Rs.400 crore in Viziangaram district and plants to expand in 100 acres. SMS Pharma Group Chairman P Ramesh Babu said that the company plans to reduce its operations in Telangana and shift its base to north Coastal Andhra Region by starting its new units at Jawahar Pharma City near Parawada in Visakhapatnam. It has 1000 manufacturing staff and another team of 100 researchers is producing nearly 1,191 million tablets and 321 million capsules per annum, he said.
The SMS Pharma at present is exporting its products to 70 countries and the medicines for ulcer, migraine, fungal and HIV are on the top of the list.
AN
