Mumbai: Hikal, a Mumbai-based contract research and manufacturing player for pharmaceutical and crop protection companies, is infusing Rs 200 crore to open four new manufacturing facilities in Bangalore and Mumbai and a research and development centre in Pune. Hikal, inked a long-term contract with Bayer CropScience for supply of active ingredients for crop protection products, will set up a multi-purpose facility at Taloja in Navi Mumbai with an investment of over Rs 30 crore. Hikal had inked an agreement with Pfizer in January to supply active pharmaceutical ingredients (APIs) for a lifestyle drug and with Alpharma in July 2007 to supply APIs for the veterinary sector. Hikal is also setting a new pharmaceutical intermediate manufacturing facility at Panoli near Mumbai. The company will target a turnover of over Rs 1000 crore within a few years with an average year-on-year growth of over 30 per cent.
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