Last Updated on March 14, 2021 by The Health Master
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 scheme (PLI scheme) 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.
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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.