Pharma PSUs_Updates

Pharmaceutical PSUs are back in the news. There are about five PSUs in pharma sector, which includes Karnataka Antibiotics & Pharmaceuticals (KAPL), Rajasthan Drugs and Pharmaceuticals (RDPL), Hindustan Antibiotics (HAL), Bengal Chemicals & Pharmaceuticals (BCPL) and Indian Drugs and Pharmaceuticals (IDPL). Out of these KAPL and RDPL were making profits, while HAL, BCPL and IDPL were declared sick by Board for Industrial & Financial Reconstruction (BIFR). The current government is working on various schemes for their revival.

Union Minister of Chemicals & Fertilizers Ananth Kumar said Public sector undertakings (PSUs) in pharmaceuticals sector will not to be sold in future; instead a model will be developed for utilizing their assets in order to make them financially sustainable. The Minister said that a Task Force will be set up soon to look into all these aspects and pharma PSUs will get support from government in order to enhance the efficiency and productivity of products.    

Mr. Ananth Kumar, inaugurated the modernised general tablet section of IDPL Gurgaon plant. The Minister of State for Chemicals & Fertilizers  Hansraj Gangaram Ahir and Secretary, Department of Pharmaceuticals, Dr VK Subburaj were also present in the occasion. IDPL, Gurgaon plant has been upgraded at the cost of Rs 3 crore as per ‘Revised Sch -M’ requirement and has obtained GMP certificate. After modernization, IDPL, Gurgaon plant will be able to launch new products in the field of diabetes, oncology, NSAIDS, Antibiotics-3rd Generation, nephrology and cardiology including other segments of lifestyle diseases at affordable price and will play a vital role in providing the medicines at reasonable rate for the common people.

Kumar said that his department is working on ‘Make-In-India’ mantra and this unit of IDPL is a step in that direction. He assured government’s full support in enhancing the efficiency and productivity of the public sector undertakings. Kumar said that providing affordable and good quality medicines to masses of the country is important and the public sector undertakings have an important role to play as they are not driven by profit motive but also serve public interest. He assured that the public sector undertakings will not be sold. Instead, a model will be developed for leveraging their assets to make them financially sustainable.

Please see:

• http://money.livemint.com/news/market/economy/market-pulse/psus-in-pharma-sector-will-not-be-sold-ananth-kumar--389692.aspx

• http://www.financialexpress.com/article/pharma/latest-updates/ananth-kumar-inaugurates-modernised-general-tablet-section-of-idpl-gurgaon-plant/114502/