New Delhi, Oct 8 (PTI) US-based Amneal Pharmaceuticals on Tuesday said it will invest up to USD 200 million (nearly Rs 1,680 crore) in India over the next four to five years to build two new manufacturing facilities in Ahmedabad.

Of two greenfield facilities planned, one will be for peptide synthesis and one for advanced sterile fill-finish manufacturing, the company said in a statement.

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"In this latest expansion in India, Amneal will make a total net investment of between USD 150 million and USD 200 million over the next four to five years to build two new greenfield facilities...," it said.

Commenting on the development, Amneal Pharmaceuticals Co-Founders and Co-Chief Executive Officers Chirag Patel and Chintu Patel said, "With these new facilities, we are proud to be at the forefront of developing and manufacturing innovative, branded medicines at scale in India, which will supply the local market and the rest of the world."

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The company which started operations in India in 2008, currently has eight manufacturing sites, including five in Ahmedabad with additional sites in Dahej, Hyderabad and Vizag, and commercial offices in Mumbai. It has invested approximately USD 600 million in India over the past 10 years.

These facilities have a collective capacity of producing up to approximately 60 million units of injectables and 8.5 billion tablets annually, the company said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)