Mission Pharmaceuticals Limited, a Mumbai based pharmaceutical company, is setting up new manufacturing unit at Pithampur, Indore. With the initial investment of Rs 75 crore, the expansion is expected to be completed by mid 2008.

The new facility to be spread over approx 52,000 sq.mt will include a formulation development lab. In the first phase, the company is setting up manufacturing capabilities to produce 12.5 million tablets, five million capsules and 100,000 ointments per day in the Pharmaceutical and Nutraceutical ranges.

Highlighting the importance of the new facility, Akkshay Mehta, managing director of Mission Pharmaceuticals said, "Indore is emerging as a pharma hub and the new SEZ offers good infrastructure and support facilities. Our new facility will be built with a capital expenditure of more than Rs 75 crore and will adhere to all International standards. The new facility will augment our growth plans of entering newer markets including the markets of USA and Europe".

Mission's products are exported to more than 20 countries in Asia, Africa and South America. Mission, with a sales volume of Rs 115 crore last year. It has a strong product portfolio in the OTC and lifestyle products segment with a growing emphasis on their Neutraceutical Brands. The company is seeking to expand their markets to the CIS region, USA and Europe with the commissioning of this new facility.

The Mission is a 100 per cent export oriented company manufacturing and exporting a wide range of formulations in different therapeutic segments. The company has a state-of-the-art GMP approved manufacturing facility in Gujarat. All processes at Mission are monitored by ERP Software and backed by ISO Systems.