Granules India inaugurated and launched its packaging facility through its Granules Consumer Health (GCH) step-down subsidiary which is located in Manassas, Virginia, US. The facility is over 79,000 square feet and is equipped with packaging lines and clean rooms to package and ship prescription and over-the-counter products across the U.S. market. The facility recently received US FDA approval with zero 483 observations.
The state-of-the art facility was inaugurated by Ambassador Taranjit Singh Sandhu who serves as India's Ambassador to the United States. In addition, Ambassador (ret) Atul Keshap, President of the US India Business Council, Mr. Jasjit Singh, Executive Director of Select USA, Mr. Scott Melville, President of the Consumer Healthcare Products Association and Mr. Chris Shorter County Executive of Prince William County were on hand for the inauguration.
"Granules Consumer Health's packaging facility will improve resilience in our supply chain as well as improving our reaction time. The facility will enable us to meet fast-moving consumer shifts as well as reducing lead times for critical prescriptions products that are in shortage" said Dr. Krishna Prasad Chigurupati, Chairman and Managing Director, Granules India.
The addition of a U.S. packaging facility will result in Granules being among the few pharmaceutical companies to be vertically integrated from API to packaging, Granules has invested approximately $12.5 million into its US packaging facility.
Shares of Granules India Limited was last trading in BSE at Rs. 273.20 as compared to the previous close of Rs. 271.00. The total number of shares traded during the day was 55960 in over 1543 trades.
The stock hit an intraday high of Rs. 274.90 and intraday low of 267.85. The net turnover during the day was Rs. 15248247.00.