Caplin Point Laboratories Ltd. has signed a Memorandum of Understanding with the state government during the Tamil Nadu Global Investors Meet to invest Rs 700 crore in various projects.
The investment by Caplin and its subsidiaries—Caplin Steriles Ltd. and Caplin One Labs Ltd.—will be made over five years in oncology, active pharmaceutical ingredients and research and development facilities, according to an exchange filing on Monday.
The investments will help generate around 1,500 employment opportunities. The government will provide the infrastructure and regulatory assistance, the Chennai-based pharmaceutical firm said.
"Aligned with the state's goals, our company's strategic investment emphasises expanding manufacturing capabilities and driving research and development," Chairperson CC Paarthipan said. "This proactive approach not only empowers economic growth but also highlights our strong commitment to positive societal impact and social development."
Shares of Caplin Point closed 0.66% lower at Rs 1,391.15 apiece, as compared with a 0.93% fall in the benchmark BSE Sensex.
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