The project will also feature investments from US biotech firm Metsera in addition to fiscal incentives from the Gujarat government.
“So, the total project size could reach up to $250 million to $300 million in the next four to five years,” Chirag Patel, president and co-CEO told ET.
One of the plants will be used for producing peptide synthesis, and the other for sterile fill-finish manufacturing. The new site broke ground on Tuesday.
“Phase one is 100 million capacity, and up to five tons of API…(our) preference is Metsara, obviously innovative side along with providing some capacity to the big guys like Novo Nordisk and Eli Lilly, right, and we will have our generic portfolio including generic GLP-1 going forward,” Patel said.
Additionally, Amneal will support Metsera with certain product development activities, including drug substance manufacturing, product formulation and drug-device development. Patel added that locating the proposed facility in India allows Amneal to benefit from the country’s skilled workforce and competitive manufacturing costs.
