Five applications with a committed investment of Rs 3,761 crore have already been approved under Target Segment I, the official statement said.
Further, under target segment II — fermentation based niche KSMs (key starting materials)/drug intermediates/APIs) were considered as per the decided evaluation and selection criteria, and eight applications, including those of Natural Biogenex Pvt Ltd, Symbiotec Pharmalab Pvt Ltd, Macleods Pharmaceutical Ltd, SudarshanPharma Industries Ltd and Optimus Drugs Pvt Ltd, have been approved.
Under the target segment III — key chemical synthesis based KSMs (key starting materials)/drug intermediates — six applications, including those of Saraca Laboratories Ltd, EmmennarPharma Pvt Ltd, Hindys Lab Pvt Ltd, AartiSpeciality Chemicals Ltd, Meghmani LLP and that of
, which is subject to outcome of w writ petiton, have been approved, the release added.
“The setting up of the plants under the scheme will lead to a total committed investment of Rs 862.01 crore by the companies and employment generation of about 1,763,” it said, adding “with this, a total of 19 applications with committed investment of Rs 4,623.01 crore have been approved by the government.
The commercial production is projected to commence from April 1, 2023 onwards and the disbursal of production linked incentive by the government over the six years period would be up to a maximum of Rs 4,870 crore, the release said.
“Setting of these plants will make the country self-reliant to a large extent in respect of these bulk drugs,” it added.
The applications under four different target segments were invited with November 30, 2020 as the last date and in total 215 applications have been received for the 36 products spread across the four target segments.
Further, applications under the Target Segment-IV are proposed to be taken up for approval before February 28, 2021, it added.
The government on February 25 also approved a production-linked incentive (PLI) scheme for the pharmaceutical sector, entailing an outlay of Rs 15,000 crore.