FIPB clears six pharma proposals worth R855 cr

Jul 30 2013, 14:23 IST
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SummaryThe Foreign Investment Promotion Board (FIPB) today cleared six proposals envisaging investments of Rs 855 crore in the pharmaceutical sector

The Foreign Investment Promotion Board (FIPB) today cleared six proposals envisaging investments of Rs 855 crore in the pharmaceutical sector. The FIPB approved the proposal of Singapore-based healthcare firm Fresenius Kabi to bring in FDI worth Rs 349 crore, sources said.

Also approved were proposals by Lotus Surgical Specialities to bring in foreign investment of Rs 150 crore, Calyx Chemicals & Pharmaceuticals Ltd (Rs 200 crore) and Singapore-based Smith & Nephew Pte Ltd (Rs 142 crore). Other pharma proposals that were cleared were those of Andhra Pradesh-based Celon Laboratories Ltd (Rs 12.55 crore) and Hyderabad-based Globion India Pvt Ltd (Rs 1.17 crore).

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