As the Centre works out a revival plan for Indian Drugs and Pharmaceuticals Limited (IDPL), its Rishikesh plant in Uttarakhand is showing signs of recovery.
The plant, which is working on less than half of its capacity due to various constraints like reduced manpower, has added 10 new formulations, raising the total formulations to 50, top officials of the IDPL said.
“We did a business of Rs 15 crore last year and are hopeful to increase it by 10 to 15 per cent this year too,” said the official.
Among the new drug/tablet formulations which have been added include medicine for diseases related to cardiovascular and diabetes.
The factory is showing signs of revival at a time when a proposal related to the revival of the IDPL is being prepared by the Union Chemical and Fertilizer Ministry which is likely to put it before the Cabinet this year.
According to the plan, the ministry is likely to call for a package in order to expand the Rishikesh factory keeping in view the current and future demand, IDPL sources said.
“We understand that the revival proposal is at advance stages,” said the official.
The Rishikesh factory was set up in 1967 on 850 acres of land. However, in 1990s, the IDPL moved the Board for Industrial and Financial Reconstruction (BIFR) for its revival plan after incurring losses. The Rishikesh plant used to make bulk drugs like penicillin, tetracycline and others but incurred losses mainly due to the high costs. “Now we are not making bulk drugs,” the official added.
The plant is also supplying contraceptives and other emergency pills to the ministry of health and family welfare.
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