Three state-owned pharmaceutical companies have suffered combined losses of over Rs 1,500 crore in last three financial years, Parliament was informed today.
"Out of the ten pharma public sector units under the administrative control of this department (Department of Pharmaceuticals), five are closed and three are loss making," Minister of State for Chemicals and Fertilisers Srikant Kumar Jena said in a written reply in the Lok Sabha.
The total losses suffered by the three loss making state-owned pharmaceutical firms in last three years is Rs 1523.2 crore, the minister said.
Of the three companies, Gurgaon-based Indian Drugs & Pharmaceuticals (IDPL) alone reported losses of Rs 1,438.7 crore over the last fiscals.
IDPL incurred losses of Rs 438.88 crore in 2007-08, Rs 481.4 crore in 2008-09 and Rs 518 crore in 2009-10.
The other two companies -- Hindustan Antibiotics (HAL) and Bengal Chemicals & Pharmaceuticals (BCPL) reported cumulative losses of Rs 64.15 crore and Rs 20.48 crore, respectively.
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