Shasun Chemicals is planning to set up an Active Pharmaceutical Ingredient (API) manufacturing facility in Vijaz, Andhra Pradesh.

The initial investment would be around Rs 35 crore, which would be further scaled to Rs 100 crore over the next two-three years.

Yesterday, the company announced its foray into bioequivalence segment with the launch of its drug 'Streptokinase' injections, used in the cardio vascular segment.

The company is aiming to achieve a 15-17 per cent market share in the segment in the first year of its operation. The total market size of the drug is estimated to be around four lakh vials.

Recently, the company has joined its hands with Lupin and Alembic for marketing of drug in domestic market.