Penicillin G unit among four plants commissioned by Aurobindo Pharma thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
At meeting held on 27 February 2021The Board of Aurobindo Pharma at its meeting held on 27 February 2021 has approved the following -
1. Transfer of all equity shares held in Lyfius Pharma, a wholly owned subsidiary of the Company, to Aurobindo Antibiotics, another wholly owned subsidiary of the Company.
2. Transfer of all equity shares held in Qule Pharma, a wholly owned subsidiary of the Company, to Aurobindo Antibiotics, another wholly owned subsidiary of the Company.
3. Transfer of business undertaking comprised in Unit-10, on a going concern basis, to APL Healthcare, a wholly owned subsidiary of the Company.
Powered by Capital Market - Live News
Shares of Aurobindo Pharma rose 5 per cent to Rs 966 in intra-day trade on the BSE on Monday, thus gaining 7 per cent in the past two trading days, on report that the government has given the company approval under the Production Linked Incentive (PLI) scheme for promotion of domestic manufacturing of critical bulk drugs. The PLI scheme aims at promotion of manufacturing of critical key starting materials (KSMs)/drug intermediates and APIs in the country.
According to a report by
Press Trust of India, Aurobindo Pharma (through Lyfius Pharma) received government approval for setting up plants for production of Penicillin-G and 7-ACA, with committed production capacity of 15,000 MT and 2,000 MT, respectively under the PLI scheme.
The government has given approval to drug firms includingAurobindo Pharma and Karnataka Antibiotics & Pharmaceuticals under the PLI scheme for promotion of domestic manufacturing of critical bulk drugs. The Production Linked Incentive (PLI) scheme aims at promotion of manufacturing of critical key starting materials (KSMs)/drug intermediates and APIs in the country. The setting up of plants under the scheme will lead to total committed investment of Rs 3,761 crore by the companies and employment generation for around 3,825 people,the Ministry of Chemicals and Fertilizers said in a statement. The applications of Aurobindo Pharma (through Lyfius Pharma) have been approved for setting up plants for the production ofPenicillin G, and 7-ACA, with committed production capacity of15,000 MT and2,000 MT, respectively. The committed investment for Penicillin G is Rs1,392 crore, and for 7-ACA isRs 813 crore, it added.
Aurobindo, Kinvan, K taka Antibiotics first to get PLI for drugs
While Aurobindo Pharma has committed an investment of Rs 3,039 crore to set up production facilities for three eligible products, Kinvan will invest Rs 447.17 crore to build 300 MT capacity plant to produce Clavulanic Acid
Joe C Mathew | January 22, 2021 | Updated 22:23 IST
Aurobindo Pharma has committed an investment of Rs 3,039 crore to set up production facilities for three eligible products
The central government has announced the list of the first three companies - Hyderabad based Aurobindo Pharma, Kinvan Pvt Ltd, Mumbai and public sector firm Karnataka Antibiotics and Pharmaceuticals - that have qualified for financial support under the production linked incentive (PLI) scheme for promotion of domestic manufacturing of critical key starting materials (KSMs), drug intermediates and active pharmaceutical ingredients (APIs).