Hospira outlines Vizag production plans

Hospira is planning to commence commercial production in its pharmaceutical manufacturing facility at Vizag by the end of 2014. 

The implementation of the facility will be a major part of the US-based generic injectables manufacturer's $90 million (53.94 million pounds) capital expenditure in India this year and the company has already earmarked a total spend of $375-450 million for the Vizag capacity expansion.

A Hospira spokesman said: "The company is not bringing both the buildings or all production lines up at once, but are planning to ramp up production in 2015 and continue thereafter."

When the plant is fully up and running, Hospira expects it to produce around 500 million vials a year.

The announcement comes after the world's leading provider of injectable drugs reported fourth quarter sales of $1.1 billion and adjusted diluted earnings per share of $0.51. At the time, Hospira stated its growth initiatives will position it for a stronger, more competitive future.