News | April 30, 2021
Indian vaccine players to garner Rs. 70,599 Cr in 2021
Riding COVID-19 wave, Indian vaccine industry set to be Rs. 700 billion strong
Riding COVID-19 wave, Indian vaccine industry set to be Rs. 700 billion strong
The production capacity is now ramped up to 90 lakh vials per month whereas earlier it was 40 lakh vials/month
The U.S. Development Finance Corporation is funding a substantial expansion of manufacturing capability for BioE, the vaccine manufacturer in India
Apart from the above, it was also decided that Basic Customs Duty on import of COVID-19 vaccines be also exempted with immediate effect for a period of 3 months
New manufacturing complex will occupy an overall footprint of approximately 2,000 square meter with six levels of manufacturing space
The Department of Pharmaceuticals launched the PLI scheme for promoting domestic manufacturing of bulk drugs, with a financial outlay of Rs. 6,940 crore across 53 APIs over 6 years
The current production capacity of indigenously developed Covaxin vaccine will be doubled by May-June 2021 and then increased nearly 6-7 fold by July-August 2021.
Indian government is expecting pharmaceutical industry to fetch incremental sales worth Rs. 294,000 crore and exports up to Rs. 196,000 crore by FY 2027-28
The merger is in line with Solara’s strategy of accelerating growth via appropriate inorganic actions
The government has taken all the effective measures to make healthcare affordable
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