Government Approves FDI Proposals in Pharma sector

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its Meeting held on 9th April 2015, the Central Government has approved four proposals of Foreign Direct Investment (FDI) out of 19 proposals amounting to Rs. 2165.04 crore approximately.

According to PIB release, proposals of Mylan Laboratories Limited, Par Formulations Private Limited (PFPL), BioMerieux India Private Limited and Curatio Healthcare (I) Private Limited were approved. Whereas, the proposals of Stericat Gut Strings Private Limited was deferred, and Vivimed Labs Limited tabled by the government. While, the proposal of Kusum Healthcare Private Limited (New Delhi), Sudeep Pharma Private Limited (Gujarat), Conress Labs (India) Private Limited (Hyderabad), and Sai Life Sciences Limited (Hyderabad) have been rejected.