One of the biggest Pharamaceutical companies in United AP, SMS Pharma group is all set to shift its base from Telangana to Andhra Pradesh. The chairman of the group, Ramesh Babu has confirmed the development. The company which operates at a turnover of Rs. 500 crore, had five units in Telangana in the vicinity of Hyderabad and two in AP. The company has planned an expansion in the three North Coastal districts of AP – Vishakapatnam, Vizianagaram and Srikakulam and will be investing 150-200 crore in the first phase and 300 crore more in the next two phases.
Also Read – Will Strip Off Remaining Clothes Too: Sai Reddy
The company plans to gradually scale down their operations in Telangana and add these units to the capacity of new plants coming up in AP. While Ramesh Babu says the decision is not based on political reasons, it is said that the complete cooperation promised by Chandra Babu Naidu prompted this decision. The company also says it sees a huge potential in AP to expand in the pharma business.
