DRS Group, India’s leading integrated logistics, supply chain management, warehousing and education company has forayed into the pharmaceutical business with the launch of its new division, DRS Labs, for contract manufacture operations. The division opened its first of state-of-the-art manufacturing facility at Medchal in Hyderabad investing Rs 10 crore.
The facility will initially focus on contract manufacturing. The state-of-art manufacturing facility spread over nine acres land with a built-up area of 40,000 sf ft is fully equipped to manufacture over 300 tonnes of tablets, capsules, liquids and ointments. It will provide directly employment to 200 and create indirect employment opportunities to over 300 people.
Explaining the rationale behind this new initiative, A K Agarwal, director, DRS Group said that there is a huge demand in the contract manufacturing space and with Indian drug manufacturing sector gaining international prominence. He said, “We felt this was the right time to launch DRS Labs. The new division will commence its operations with contract manufacturing and we will target Rs 50 crore turnover in the first year.”
On receiving all statutory clearances, DRS Labs will also acquire licenses of certain over-the counter (OTC) drugs which will be manufactured at the new facility. DRS Labs is also in talks with few companies to acquire licenses of certain products and will also launch their own brands.
The 19 year-old Hyderabad based DRS Group started its operations from the transport business, which later diversified to Household movement, Logistics, Shipping & Air Cargo and Education. With an annual turnover of over Rs 500 crore, the group is growing rapidly. The group led by Dayanand Agarwal has its presence across the country. Brands from DRS Group: Agarwal Packers & Movers (SE); DRS Logistics; DRS Dilip Road Lines; DRS Warehousing (North) Pvt Ltd; DRS Warehousing (South) Pvt Ltd; DRS Rooftech & Infrastructure; DRS International School; DRS Kids; Edify Education and DRS Labs.