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Sun Pharma has significant investment plans for its facility in Madhya Pradesh, the firm’s Managing Director Dilip Shanghvi said on Saturday. “We have significant additional investments plans for our Madhya Pradesh facility, including setting up of a new research facility in Madhya Pradesh,” Shanghvi said at the Global Investors Summit here.
He said the company is present in the state because of Ranbaxy, which has a large manufacturing facility here. Sun Pharma had acquired Ranbaxy in a USD 4 billion deal in 2014.
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“Now that I have got to know the business environment of Madhya Pradesh and how our facility is working, … we have significant additional investments plans for our MP facility including setting up of a new research facility in MP,” he said.
The Mumbai-based drug major has recently signed an agreement with ICMR and Madhya Pradesh government to work towards eradicating malaria, which will facilitate the Centre’s commitment to eradicate malaria in India by 2030.
“I promise that Sun Pharma will work towards innovating in India and Make in India so that we can take it globally and Madhya Pradesh will be an important component of our promise,” Shanghvi said.