Last Updated on May 31, 2023 by The Health Master
Oncology Pharma Park
The Industries Minister, P. Rajeeve, emphasized the need for public sector undertakings (PSUs) to be competitive and profitable.
During the inauguration of the construction work for the Oncology Pharma Park at Kalavoor in Alappuzha, he highlighted the significance of biology and biotechnology in the coming years.
The park, funded by the Kerala Infrastructure Investment Fund Board, will be the first-of-its-kind in the public sector and aims to produce affordable medicines for cancer treatment.
Biology and Biotechnology to Shape the Next Era
In his speech, Mr. Rajeeve outlined the promising future of biology and biotechnology, marking a significant shift from the dominance of information technology in the past three decades.
The government is proactively implementing policies and initiatives to adapt to this forthcoming era.
The Minister emphasized the crucial role that KSDP, a public sector entity, will play in these transformations.
He also stressed the importance of PSUs eventually standing independently and contributing significantly to the government.
Introduction of the Oncology Pharma Park
The Oncology Pharma Park, located near the KSDP campus, will be a groundbreaking initiative by the public sector.
With a total investment of ₹231 crores, the facility spans 6.38 acres of land and is expected to be completed within three years.
The primary objective of the park is to manufacture cancer treatment medications at an affordable price.
Once operational, the facility will have the capacity to produce an annual quantity of six crore tablets, 4.5 crore capsules, and 37 lakh intravenous medications.
Dignitaries Present at the Inauguration
The function was presided over by P.P. Chitharanjan, MLA, and attended by A.M. Ariff, MP, as well as KSDP Chairman C.B. Chandrababu, among other notable individuals.
Conclusion:
The launch of the Oncology Pharma Park by KSDP marks an important milestone for the public sector in Kerala.
By venturing into the production of cost-effective cancer medications, the park aims to contribute to the competitiveness and profitability of PSUs while addressing a critical healthcare need.
This initiative aligns with the government’s vision for the future, which emphasizes the growing significance of biology and biotechnology in shaping the world.
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