PLI: 55 pharma firms to benefit from ₹15,000-crore scheme

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admin December 5, 2021
Updated 2021/12/05 at 3:44 PM

In the pharmaceutical industry, 55 companies have qualified for the production linked incentive (PLI) scheme. Sun Pharmaceuticals, Cipla, Dr. Reddy’s Laboratories, Glenmark Pharmaceuticals, Wockhardt, Biocon, Biological E, Panacea Biotec, Torrent Pharma, Aurobindo Pharma, Intas Pharma, Natco Pharma, and Lupin are among the companies on the list.

Over the course of six years, the plan would provide these enterprises with cash incentives of Rs 15,000 crore based on increased sales of pharmaceutical items and in-vitro diagnostic medical equipment. The project management firm is SIDBI.

According to a press statement from the Ministry of Chemicals and Fertilizers, the scheme’s beneficiaries also include 20 MSMEs (micro, small, and medium-sized businesses).

According to the press release, the PLI Scheme is based on the Cabinet’s February approval of “Atmanirbhar Bharat Strategies for boosting India’s manufacturing capabilities and increasing exports in 10 areas.”

According to the Ministry, applications were accepted in three categories depending on the applicant’s size as measured by worldwide pharmaceutical production sales.

A Technical Committee is aiding the Department of Pharmaceuticals, according to the announcement. For the business procedures to be followed, SIDBI has implemented a digital system.

Category 1 includes biopharmaceuticals; complex generic drugs; patented drugs or drugs nearing patent expiry; cell-based or gene therapy drugs; orphan drugs; special empty capsules; and complex excipients.

Category 2 covers Active Pharmaceutical Ingredients (APIs); Key Starting materials (KSMs); Drug Intermediates (DIs) except the APIs/KSMs/DIs covered under the earlier PLI scheme for these products.

Category 3 comprises Repurposed drugs; Autoimmune drugs, anti-cancer drugs, anti-diabetic drugs, anti-infective drugs, cardiovascular drugs, psychotropic drugs, and antiretroviral drugs; in vitro diagnostic devices; and other drugs not manufactured in India.

 

Source: The Hindu

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