Shasun Pharmaceuticals, formerly Shasun Chemicals and Drugs, plans to double its turnover to Rs.2,000 crore by 2015. The company, which had completed 35 years of operations, has crossed Rs.1,000 crore turnover in the year ended March 31, 2012. Addressing a press conference here on Wednesday, S. Abhaya Kumar, Managing Director, said that “Our plan is to become a billion dollar company in 2020. We have crossed the milestone of Rs.1,000 crore turnover and we would double it in the next three years.”

Mr. Kumar hoped that nearly 50 per cent of Shasun's contract research and manufacturing services (CRAMS) business along with the active pharmaceutical ingredients (API) business would contribute to the growth rate to achieve the Rs.2,000-crore target. The balance would come from formulation and biotechnology. Similarly, considerable revenue would also come from a large number of products, which were going off patent in 2013 for which the company has a first-to-file advantage to manufacture, he added.

He said the company had invested Rs.83 crore in the last fiscal and would invest another Rs.250 crore during 2012-13. This would include upgrading its existing facilities and for setting up a multi-product facility at Vizag in Andhra Pradesh. The Vizag facility, with an investment of Rs.50 crore, was expected to commence operations by end 2012. Shasun's U.K. outfit had marked a net profit of around 6.2 million pound sterling last year, said Mr. Kumar.

More In: Companies | Business