homevideos Newsbusiness NewsPharma PLI scheme: Aurobindo receives approval to manufacture 3 drug intermediates
Pharma PLI scheme: Aurobindo receives approval to manufacture 3 drug intermediates
In order to make India self-sufficient in the API space, government had kicked off production linked incentive (PLI) scheme in January. Aurobindo Pharma has received a nod to manufacture Penicillin, Erythromycin, and 7-ACA. Karnataka Anitbiotics and Kinvan have received approval for 7-ACA and Clavulanic Acid, respectively.
In order to make India self-sufficient in the API space, government had kicked off production linked incentive (PLI) scheme in January. The PLI for drug intermediates include Penicillin, Erythromycin, 7-ACA, and Clavulanic Acid.
Aurobindo Pharma has received a nod to manufacture Penicillin, Erythromycin, and 7-ACA. Karnataka Anitbiotics and Kinvan have received approval for 7-ACA and Clavulanic Acid, respectively.
The total investment for the companies is almost around Rs 4,000 crore. Aurobindo’s allocated capex is the maximum at over Rs 3,000 crore.
Analysts believe that Aurobindo is likely to take over a large part of the domestic market as there is no local competition. Incentives and scale are expected to benefit them as well.
Reports also indicate that more PLI contracts will be given to bulk drugs by end of February.
CNBC-TV18’s Ekta Batra gets more details.
Watch video for more.
(Edited by : Bivekananda Biswas)
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