Pharma major SMS Pharma Group is all set to shift its base from Telangana to Andhra Pradesh in the wake of state bifurcation. The company which operating five units in Hyderabad sent shock waves to T-government.
In a statement of Babu , The Andhra Pradesh Government will provide necessary infrastructure, incentives and skill up-gradation facilities for the VKT Pharma Private Limited – a company of the SMS Pharma group. The unit was set up in 17 acres at a cost of ₹200 crore for the next two phases.
With an annual turnover of 500 crore, the company planning to inaugurate two units by end of next year. Company director Ramesh announced SMS group will invest 300 crores for these units in order to produce 4 billion tablets per annum. in Addition to that Injectable’s and orals would also be produced.