DRS Group forays into pharma business; launches DRS Labs
To inaugurate state-of-the-art manufacturing facility in Hyderabad
Tweet-- DRS Group, India's leading 3PL player with interests in logistics, supply chain management, warehousing and education will foray into pharmaceutical business with the launch of its new division, DRS Labs. The division will inaugurate its first of state-of-the-art manufacturing facility at Medchal in Hyderabad on Friday 28th May 2010.
The new division, DRS Labs commences its operations with a capital of Rs 10 crore and will initially focus on contract manufacturing. The state-of-art manufacturing facility spread over 9 acres land with a built-up area of 40,000 sf.ft. is fully equipped to manufacture over 300 tonnes of tablets, capsules, liquids and ointments. This facility will provide directly employment to 200 and create indirect employment opportunities to over 300 people.
Explaining the rationale behind this new initiative, Mr. A. K. Agarwal, Director - DRS Group said, "There is a huge demand in the contract manufacturing space and with Indian drug manufacturing sector gaining international prominence, we felt this was the right time to launch DRS Labs. The new division will commence its operations with contract manufacturing and we will target Rs 50 crore turnover in the first year."
On receiving all statutory clearances, DRS Labs will also acquire licenses of certain OTC drugs which will be manufactured at the new facility. DRS Labs is also in talks with few companies to acquire licenses of certain products and will also launch their own brands.
Notes to Editor
About DRS Group
Founded in the year 1991, Hyderabad based DRS Group started its operations from the transport business, which later diversified to Household movement, Logistics, Shipping & Air Cargo and Education. With an annual turnover of over Rs.500 crore, the group is growing rapidly. The group led by Mr. Dayanand Agarwal has its presence across the country. Brands from DRS Group: Agarwal Packers & Movers (SE); DRS Logistics; DRS Dilip Road Lines; DRS Warehousing (North) Pvt Ltd; DRS Warehousing (South) Pvt Ltd; DRS Rooftech & Infrastructure; DRS International School; DRS Kids; Edify Education and DRS Labs.
For further details, please contact: Raghav, Perfect Relations @ 098 482 34106