Lincoln Pharma announced today morning that it plans to launch Cephalosporin products soon and has acquired a plant in Mehsana, Gujarat.
Its investment in Cephalosporin plant is for Rs.30 crore, including capacity expansion. Acquisition and further capex will be funded from internal accruals.
The plant is expected to contribute sales of around Rs.150 crore over the next three years. The plant will cater to all the Cephalosporin products i.e. Tablet, Capsule, Dry syrup and Injectable.
It will launch Cephalosporin products in the Indian market by March 2022 and it looks to export in African, Latin America and Southeast Asia markets after necessary approvals.
This news pushed the stock price up by over 3% to hit an intraday high at Rs.394.90. Its 52-week high is at Rs.407.70.