Hyderabad, Oct 15 (PTI) Natco Pharma aims to launch around 10 new products every year in the Indian market, the city-based drug maker said on Thursday.

"Our strategy remains intact as we invest prudently in our research, manufacturing plants and enriching of skill sets. We are on track on our goal to launch 8-10 new products every year across our pharma business segments in India.

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We also have some interesting filings and high-value launches in our international markets in the coming years," VC Nannapaneni, chairman of the company said in his speech at the Annual General Meeting.

During the year, Natco spent Rs 349 crore on capital expenditure, a majority of which was used to enhance capabilities of theirmanufacturing facilities.

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A significant portion of thecapex was done at the company's facility in Visakhapatnam in Andhra Pradesh while the remaining part was primarily used in the formulation facilities across the country, he said.

With diversification and sustainability in mind, the company has invested in the Crop Health Sciences division targeting niche products.

A Greenfield project in Nellore district of Andhra Pradesh is close to completion and expected to be commissioned during FY 2020-21, he added.

(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)