Pharma Sector: Approvals Accorded Under PLI Scheme For Rs 348 Crore Investment In Drug Intermediates And APIs
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In a boost to local manufacturing and reduce import dependence, approvals have been accorded to 16 applicants under Production Linked Incentive (PLI) Scheme for promotion of domestic manufacturing of critical Key Starting Materials (KSMs)/ Drug Intermediates and Active Pharmaceutical Ingredients (APIs) in the country.
The setting up of these 16 plants will lead to a total committed investment of Rs 348.70 crore and employment generation of about 3,042 by the companies.
The commercial production of these plants is projected to commence from 1 April, 2023 onward, the Ministry of Chemicals and Fertilizers said in a statement.
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WASHINGTON, April 14, 2021 /PRNewswire/ Today, three leading synthetic biology companies announced the launch of the Synthetic Biology (SynBio) Coalition (www.synbioco.com) to promote investment and support for the American synthetic biology industry. Synthetic biology is a field of science that involves redesigning microorganisms for useful purposes. It is already being leveraged across many industries, including pharmaceuticals and medical treatments, food and agriculture, plastics, apparel, energy, consumer electronics, and personal and home care items, and is poised to have a significant impact on American economic g
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The company is focused on development of green technology especially using a Flow-pump reactor to synthesize intermediates, chemicals in sustainable methods of green chemistry.
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Bio-technology startup, Bioneemtec India has begun looking at manufacturing Key Starting Materials (KSM) through its newly launched Flow Pump facility with its in-house technology that will ensure a fast conversion rate and reduce the production cost without any environmental hazardous by-products or residues. We are concentrating on developing key raw materials from this flow reactor pump. We have developed some molecules and are looking to produce Acetophenone which is a major raw material that is used for API (Active Pharmaceutical Ingredient) and intermediates, explained Dr. Menaga Magendran, Managing Director, Bioneemtec India. If we are successful, we can produce it at Rs 400 when we are currently importing it from China at Rs 1700.
Aarti Speciality Chemicals, a wholly-owned subsidiary of Aarti Drugs has received an approval accorded under Production Linked Incentive (PLI) scheme for pharmaceutical sector.
Government of India s Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers recently launched a Production Linked Incentive (PLI) scheme to promote domestic manufacturing by incentivising pharmaceutical manufacturers to set-up greenfield projects in India with a minimum domestic value addition in four different target segments (Two in Fermentation based - at least 90% and Two in the Chemical Synthesis based - at least 70%) with a total outlay of Rs 6,940 crore.
The objective of the scheme is achieving self-reliance and reducing import dependence in these critical Key Starting Materials (KSMs)/ Drug Intermediates/ Active Pharmaceutical Ingredients (APIs) in the country. The tenure of the scheme is from FY21 to FY30.