Welcure's Bold Step into Botanical Innovation

Welcure Drugs & Pharmaceuticals Ltd plans to establish an agro-pharma research lab with a Rs 70-80 crore budget for developing botanical and ayurvedic products. To support this initiative and general purposes, the company will raise funds through a qualified institutional placement. The project will adhere to global standards.

Welcure Drugs & Pharmaceuticals Ltd has announced plans to establish an agro-pharma research laboratory, investing Rs 70-80 crore focused on botanical and ayurvedic product development.

To back this ambitious project, the company intends to raise up to Rs 80 crore via a qualified institutional placement (QIP), the details of which will be determined on August 28 when the board meets.

Designed to align with cGMP standards and US FDA guidance, this research facility aims at enabling global market participation. In the June quarter, Welcure posted a net profit of Rs 23.29 crore, with revenue at Rs 299.91 crore.

(With inputs from agencies.)