Granules India Plans INR 2,000 Cr Investment to Scale Complex Generics, Oncology & Peptide CDMO

Granules India has also specifically identified digitalisation and AI-led manufacturing excellence among its investment priorities.

Hyderabad-based pharma manufacturer Granules India has outlined an INR 2,000 Cr investment programme over the next three to four years as it shifts toward higher-value pharmaceutical businesses, with planned spending spanning complex generics, oncology, peptide CDMO, manufacturing capacity, R&D, digitalisation, and AI-led manufacturing excellence.

Granules India has returned to growth in FY26 after nearly three years of flat performance and is now entering what its leadership describes as a new growth cycle.

The company’s established vertically integrated business will continue to provide the cash-generating base, while future expansion will focus on controlled substances, complex generics and early-market opportunities, oncology and peptide CDMO.

According to CFO Mukesh Surana, the programme will cover complex generics, oncology, peptide contract development and manufacturing, US operations, manufacturing capacity, R&D infrastructure, digitalisation, AI-led manufacturing excellence and quality systems.

Granules India’s business mix has already begun shifting towards higher-value products.

Executive director Priyanka Chigurupati said complex generics rose from 1% of revenue in FY20 to 33% in FY26, and accounted for about 45% to 50% of finished-dosage revenue in FY26.

The company has therefore been moving away from a predominantly volume-led generics model towards more specialised products.

The company is also strengthening its US-focused product pipeline. Granules India has filed two sole first-to-file ANDAs for generic Lumryz and generic Dyanavel, which together address a US market of more than $350 Mn and could potentially provide 180-day exclusivity.

It also has an oncology first-to-file candidate and four to five additional first-to-file opportunities expected to commercialise between FY30 and FY34.

Alongside complex generics and oncology, peptide CDMO has emerged as another growth area. The company’s strategy includes expanding its peptide manufacturing capabilities, with the broader investment programme intended to support the infrastructure, technology and quality systems required for more technically demanding pharmaceutical products.

Granules India has also specifically identified digitalisation and AI-led manufacturing excellence among its investment priorities, indicating that technology is expected to play a role in manufacturing efficiency, quality management and the development of more sophisticated pharmaceutical operations.

The company’s strategy, however, remains subject to execution, regulatory approvals and the successful commercialisation of its product pipeline.

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