Sunday, 10 July 2011

Celon Labs to set up Rs.120 cr facility

Celon Labs to set up Rs.120 cr facility

Special Correspondent

HYDERABAD: Hyderabad-based Celon Laboratories, an integrated, research-based specialty bio-pharma company, has announced that it would invest Rs.120 crore to set up a world-class manufacturing facility at the Genome Valley here. The company crossed a significant milestone of Rs.100-crore mark in turnover, said its founder K. V. Ravindra.

In a release, he said Sequoia Capital, a venture capital firm, had invested Rs.70 crore to support Celon Labs' growth plans. He said the company also envisaged expanding operations by establishing local entities in South and Central America, Asia-Pacific, Africa and the Commonwealth of Independent States.

Celon Labs had registered 114 products and launched them in 17 markets, he said, adding that 18 more products were in the process of registration, while 321 product files were in the filing stage.

Managing Director, Sequoia Capital, V. T. Bharadwaj, said he was confident that Celon Labs, with a comprehensive portfolio of products would maintain its growth momentum.

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