The opium factory located in the city was established by the British and continues to be a major source of opium production in India. It is known as the Opium Factory Ghazipur or, more formally, the Government Opium and Alkaloid Works. It is the largest factory of its kind in the country and indeed the world. The factory was initially run by the East India Company and was used by the British during the First and Second Opium Wars with China. The factory as such was founded in 1820 though the British had been trading Ghazipur opium before that. Nowadays its output is entirely above board, controlled legally by the Narcotics Drugs and Psychotropic Substance Act and Rules (1985) and administratively by the Indian government Ministry of Finance, overseen by a committee and a Chief Controller. The factory's output serves the global pharmaceutical industry. Until 1943 the factory only produced raw opium extracts from poppies, but nowadays it also produces many alkaloids, having first begun alkaloid production during World War II to meet military medical needs. Its annual turnover is in the region of 2 billion rupees (approximately 36 or 37 million US dollars), for a profit of about 80 million rupees (1.5 million dollars). It has been profitable every year since 1820, but the alkaloid production currently makes a loss, while the opium production makes a profit. The typical annual opium export from the factory to the US, for example, would be about 360 tonnes of opium.