Approved 14 medical device manufacturers
Approvals have been accorded to applicants under Production Linked Incentive (PLI) Scheme for Promotion of Domestic Manufacturing of critical Key Starting Materials (KSMs) and Drug Intermediates and Active Pharmaceutical Ingredients (APIs) which would lead to establishing 16 plants with investment of Rs.348.70 crore.
The commercial production of these plants is projected to commence from 1 April 2023 onward, the Ministry of Chemicals and Fertilizers said on 13 April 2021.
The Indian pharmaceutical industry is the 3rd largest in the world by volume. It has high market presence in several advanced economies such as the US and EU. The industry is well known for its production of affordable medicines, particularly in the generics space, said the Ministry.
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%.
The applications of following companies, which have committed minimum and or more than the minimum proposed annual production capacities and fulfill the prescribed criteria, have been approved, as under (under Target Segment IV):
Honour Lab Limited to produce 300 metric tons of Valsartan from a Rs.26.88 crore plant.
Anasia Lab Private Limited to produce 400 MT of Losartan from a Rs.29.12 crore plant.
Hetero Drugs Limited to produce 230 MT of Levofloxacin from Rs.9.00 crore plant.
Chemex Global to produce 115 MT of Levofloxacin from Rs.20 crore plant.
Surya Life Sciences Limited to produce 230 MT of Levofloxacin from a Rs.20 crore plant.
Andhra Organics Limited to produce 360 MT of Sulfadiazine from a Rs38.70 crore plant.
Sreepathi Pharmaceuticals Limited to produce 900 MT of Ciprofloxacin from Rs.16.05 crore plant.
Sreepathi Pharmaceuticals Limited to produce 300 MT of Ciprofloxacin from Rs.16.05 crore plant.
Sreepathi Pharmaceuticals Limited to produce 300 MT of Ofloxacin from Rs.16.05 crore plant.
Global Pharma Healthcare Private Limited to produce 200 MT Ofloxacin from a Rs.16.49 crore plant.
Andhra Organics Limited to produce 360 MT of Telmisartan from Rs.40.00 crore plant.
Kreative Actives Private Limited to produce 350 MT Diclofenac Sodium from a Rs.20.74 crore plant.
Amoli Organics Private Limited to produce 175 MT Diclofenac Sodium from a Rs.6.56 crore plant.
Vapi Care Pharma Private Limited to produce 525 MT Diclofenac Sodium from a Rs.21.00 crore plant.
Honour Lab Limited to produce 840 MT of Levetiracetam from a Rs.31.36 crore plant.
Hetero Drugs Limited to produce 16 MR of Carbidopa from a Rs.18.00 crore plant.
Hetero Drugs Limited to produce 40 MT of Levodopa from a Rs.18.75 crore plant.
Furthermore, domestic manufacturers are using PLI scheme for 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%) for 41 products with a total outlay of Rs.6,940 crore from 2020-21 to 2029-30.
In total, 215 applications were received for the 36 products spread across the 4 Target Segments. The applications under the target Segments I, II and III were considered and eligible applications approved in earlier meetings of the Empowered Committee.
Out of total 174 applications received for 23 Eligible Products under Target Segment IV – Other Chemical Synthesis Based KSMs, Drug Intermediates/APIs, 79 applications received for 11 eligible products were considered earlier and 14 applications approved in the sixth meeting of the Empowered Committee.
In the 7th Meeting of the Empowered Committee held on 19 March 2021 the remaining 95 applications under the Target Segment IV were considered.
With this, all the 215 applications received have been considered and a total of 47 applications (excluding 2 successful applications withdrawn subsequently) with committed investment of Rs.5,366.35 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 about Rs.6,000 crore against the budgetary outlay of Rs.6,940 crore.
Under the PLI Scheme for Promoting Domestic Manufacturing of Medical Devices, after considering all 28 applications, 14 applications have been approved by the Government with a committed investment of Rs.873.93 crore which will lead to utilization of maximum incentive of about Rs.1,694 crore against total budget outlay of Rs.3,420 crore. The Government has decided to re-invite applications for the uncovered and under-covered products in the PLI Schemes for Bulk Drugs and Medical Devices for utilizing the approved outlay. #manufacturing #health #investment #exports /fiinews.com
