IDPL's Rishikesh plant shows signs of recovery

As the Centre works out a revival plan for Indian Drugs and Pharmaceuticals Limited (IDPL), its 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 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 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.

image
Business Standard
177 22
Business Standard

IDPL's Rishikesh plant shows signs of recovery

Shishir Prashant  |  New Delhi/ Dehra Dun 



As the Centre works out a revival plan for Indian Drugs and Pharmaceuticals Limited (IDPL), its 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 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 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.

RECOMMENDED FOR YOU

IDPL's Rishikesh plant shows signs of recovery

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.

As the Centre works out a revival plan for Indian Drugs and Pharmaceuticals Limited (IDPL), its 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 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 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.

image
Business Standard
177 22
Widgets Magazine

More News

  • Fairfax to buy 49.2% in Quantum Advisors Fairfax completes acquisition of 51 % outstanding stake in Privi Organics
  • Axis Bank gives shapes to its innovation lab Axis Bank gives shapes to its innovation lab
Widgets Magazine
Widgets Magazine

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard