33 companies commit investment of Rs.5,082.65 crore
Ministry of Chemicals and Fertilizers has approved Production Linked Incentive (PLI) Scheme for Promotion of Domestic Manufacturing of critical Key Starting Materials (KSMs) as well as Drug Intermediates and Active Pharmaceutical Ingredients (APIs) to companies setting up plants in India.
With this approval, a total of 33 applications with committed investment of Rs.5,082.65 crore have been approved by the Government under the PLI Scheme for Active Pharmaceutical Ingredients (APIs).
Setting of these plants will make the country self-reliant to a large extent in respect of these Bulk drugs.
The disbursal of production linked incentive by the Government over the six years period would be up to a maximum of Rs.5,440 crore, the Ministry said on 11 Mar 2021.
The approvals given to some of the companies:
Anasia Lab Private Limited for producing Meropenem with investment of Rs.26.12 crore.
Rajasthan Antibiotics Limited for Meropenem with investment of Rs.28.25 crore.
Centrient Pharmaceuticals India Private Limited for Atorvastatin with investment of Rs.137.74 crore.
Anasia Lab Private Limited for Olmesartan with investment of Rs.27.09 crore.
Andhra Organics Limited for Olmesartan with investment of Rs.30.50 crore.
Solana Life Sciences Private Limited for Artesunate with investment of Rs.20.00 crore.
RMC Performance Chemicals Private Limited for Aspirin with investment of Rs.12.00 crore.
Surya Remedies Private Limited for Ritonavir with investment of Rs.20.00 crore.
Honour Lab Limited for Lopinavir with investment of Rs.31.01 crore.
Hindys Lab Private Limited for Acyclovir with investment of Rs.30.37 crore.
Dasami Lab Private Limited for Carbamazepine with investment of Rs.30.28 crore.
Dasami Labs Private Limited for Oxcarbazepine with investment of Rs.25.58 crore.
Hetero Drugs Limited for Oxcarbazepine with investment of Rs.19.00 crore.
Hazelo Lab Private Limited for Vitamin B6 with investment of Rs.21.53 crore.
The setting up of these plants will lead to total committed investment of Rs.459.47 crore and employment generation of about 3,715 by the companies. The commercial production of these plants is projected to commence from 1 April 2023 onward.
The Indian pharmaceutical industry has high market presence in several advanced economies such as the United States and European Union, is well known for its production of affordable medicines, particularly in the generics space. It rated 3rd largest in the world by volume.
However, the country is significantly dependent on the import of basic raw materials, viz., Bulk Drugs that are used to produce medicines. In some specific bulk drugs, the import dependence is 80% to 100%, said the Ministry.
With an objective to attain self-reliance and reduce import dependence in these critical Bulk Drugs – Key Starting Materials (KSMs) and Drug Intermediates and Active Pharmaceutical Ingredients (APIs) in the country, the Department of Pharmaceuticals had launched a Production Linked Incentive (PLI) Scheme for promotion of their domestic manufacturing by setting up Greenfield plants with minimum domestic value addition in four different Target Segments (In Two Fermentation based – at least 90% and in the Two Chemical Synthesis based – at least 70% ) with a total outlay of Rs.6,940 crore for the period 2020-21 to 2029-30.
In total, 215 applications have been received for the 36 products spread across the 4 Target Segments. The guidelines prescribed that the applications would be processed and decided within a period of 90 days, i.e., up to 28th February, 2021. Nineteen applications with a committed investment of Rs.4623.01 crore have already been approved under Target Segment I, II and III.
174 applications were received for 23 Eligible Products under Target Segment IV – Other Chemical Synthesis Based KSMs/ Drug Intermediates/APIs. Out of 174 applications, 79 applications received for 11 eligible products were considered as per the decided evaluation and selection criteria by the Empowered Committee in its meeting held on 27th February, 2021.
It has been further decided to take up the remaining 95 applications under the Target Segment-IV till 31 March 2021 for scrutiny and approval, the Ministry said. #manufacturing #exports #investment #pharma /fiinews.com
