Pharmabiz: More pharma cos sign MoUs with MADC to set up bulk drugs park in MIHAN, Nagpur
Following execution of MoUs with pharma companies- Centaur, SG Pharma, Arco Lifesciences, BDH Pharma, Maharashtra Airport Development Company Ltd (MADC) has recently inked MoUs with pharma companies like UK based Meyer Organics and Nagpur based ZIM Laboratories Limited for setting up bulk drug and formulation units in Multi-modal International Passenger and Cargo Hub Airport (MIHAN), Nagpur.
Based on the MoU, Meyer Organics will set up its unit in 10 acres of land with the initial investment of Rs.50 crore which would go up to Rs.250 crore by 2020 in a phased manner. ZIM Laboratories will also invest Rs.50 crore for its unit in two acres of land.
Lupin Pharma has already started its production from MIHAN Special Economic Zone (SEZ) along with All India Institute of Medical Sciences (AIIMS) on 150 acres of land. Patanjali Ayurved has been allotted over 300 acres of land for its mega food and herbal park. Besides this, Indo-UK Institute of Health has procured 153 acres of land in SEZ for setting up a health city to promote medical tourism in India.