Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ News / India/  Hetero Drugs, Rajasthan Antibiotics among firms picked for bulk drug PLI schemes
BackBack

Hetero Drugs, Rajasthan Antibiotics among firms picked for bulk drug PLI schemes

Hetero Drugs, as well as Dasami Labs Pvt Ltd, was selected to get incentives for manufacturing the anti-epilepsy drug oxcarbazepine
  • So far, the government has chosen a total of 33 applications with committed investment of ₹5082.65 crore under the PLI Scheme for active pharmaceutical ingredients
  • Photo: MintPremium
    Photo: Mint

    Hetero Drugs Ltd and Rajasthan Antibiotics Ltd were among the 12 companies selected to produce 11 bulk drugs, making them eligible for production-linked incentives in lieu of investment commitments worth 459 crore, the government said in a statement.

    Hetero Drugs, as well as Dasami Labs Pvt Ltd, was selected to get incentives for manufacturing the anti-epilepsy drug oxcarbazepine, while Rajasthan Antibiotics, and also Anasia Lab Pvt Ltd, was selected for getting incentives for production of the broad-spectrum antibiotic Meropenem.

    Dasami Labs was also selected for another anti-epilepsy drug carbamazepine, while Anasia also was chosen for anti-hypertension drug olmesartan.

    Other drugs for which companies were selected for getting incentives for production included anti-cancer drugs lopinavir and ritonavir, vitamin B6 and aspirin, among others.

    “The setting up of these plants will lead to total committed investment of 459.47 crore and employment generation of about 3,715 by the companies. The commercial production of these plants is projected to commence from 1st April, 2023 onward," the government said in a statement.

    The latest list adds to two other lists of companies that were selected for fermentation-based and other bulk drugs. So far, the government has chosen a total of 33 applications with committed investment of 5082.65 crore under the PLI Scheme for active pharmaceutical ingredients (APIs). The government will disburse production linked incentive worth up to 5,440 crore over a six-year period.

    The total quantum of incentives for the PLI scheme over a six-year period is 6,940 crore, for manufacturing 36 bulk drugs. The government had received 215 applications have been received for the 36 products.

    Currently, 95 applications are pending, and the government said it will take up these applications by 31 March.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less
    Published: 11 Mar 2021, 09:25 PM IST
    Next Story footLogo
    Recommended For You
    Switch to the Mint app for fast and personalized news - Get App