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History of Nagarjuna Drugs Ltd.

Nagarjuna Drugs [Ps] Limited was originally promoted by Shri Y V Rao & his Associate on 19.03.1987 for selling up a unit for manufacture of Bulk drugs viz., Metronidazole & Metronol Sulphate. The unit was set up at Bonthapalli, Medak District, a notified backward area. Though the Comp. was incorporated in 1987 the unit was ready with the buildings & plant and Machinery by September, 1990. They couldn't commence trial production due to non availability of mw-materials & Ethylene Oxide Gas for their products.

Subsequently Shri V Sreedhar & his Associates acquired all shares in the Comp. in March, 1992 for a purchase consideration of Rs.15 lakhs. The Comp. has availed APIDC loan for Rs.90 lacs which was sanctioned only in December, 1992 & disbursed in stages during the year 1993. All the additional Plant & Machinery, utilities were installed towards the end of year 1993 & the unit was ready for trial production & on successful trial runs during December, 1993 the Comp. commenced its commercial operations with effect from January, 1994 for producing Norfloxacin, Homoveratro Nitrile [HVNs], Homoveratryl Amine [HVAs].