Granules India plans to invest about Rs 2,000 crore over the next 3-4 years to move into complex medicines, cancer drugs and peptides.

The Hyderabad-based drugmaker will spend it on complex generics, cancer medicines, peptide contract manufacturing, US operations, factory capacity, research and quality systems, the company’s chief financial officer Mukesh Surana said.

The plan came up at an investor webinar, and the transcript went to the stock exchanges.

Complex generics are copies of medicines that are harder to develop and make than standard ones. Management says the shift is already under way.

Executive director Priyanka Chigurupati said these products rose from 1% of revenue in FY20 to 33% in FY26, and made up about 45% to 50% of finished dosage revenue last year.

The company said it returned to growth in FY26 after nearly three years of flat performance.

Its existing business will keep funding the next phase, chairman and managing director Krishna Prasad Chigurupati said.

Peptides are the newest bet. Granules runs this contract manufacturing business through Senn Chemicals and expects it to turn profitable in FY27.

It targets annual revenue of $50 million in three years and above $100 million within five.

Contract manufacturing means making medicines for other drug firms instead of selling its own.

In the US, the company has filed two applications to be first in line with generic versions of Lumryz and Dyanavel.

It put their combined US market at more than $350 million, and a first filer can win 180 days of exclusive sales.

Granules said it sees four to five more such chances reaching the market between FY30 and FY34, along with one in cancer care.

It also said it has climbed to third place among US makers of controlled medicines by value, from eighth in July 2025, and wants to add pain management to its range of ADHD medicines.

Details are still thin. The reports so far give no year-by-year spending schedule and no split of the money across businesses.

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