Leading pharmaceutical company, Shasun Chemicals is all set to come up with an Active Pharmaceutical Ingredient (API) manufacturing facility in Vijaz, Andhra Pradesh, with an investment of up to Rs 100 crore over the next two-three years.

Confirming the development, N Govindrajan (CEO and MD, Shasun Chemicals and Drugs) said: "We are planning to set up a new API plant in Vizag, for which the initial investment would be around Rs 35 crore which would be further scaled in the next two-three years."

Govindrajan also added that the total investments in the project could go up to Rs 100 crore over the next two-three years.

The Chennai based company on Friday also launched its drug 'Streptokinase' injections, used in the cardio vascular segment.

The drug will cost Rs. 2,400 in the open market.

The company anticipates to capture 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 around four lakh vials and we have enough capacity to meet the demand in the near future," Govindrajan said.

The company has tied with Lupin and Alembic for marketing the drug in India.

Apart from this, the pharmaceutical company is also planning to come up with another product through the same technology in Oncology therapeutic area.