Reliance Life Sciences is planning to set up its biotechnology-based production facilities at Indian Vaccines Corporation, a subsidiary of IPCL.
A joint venture of IPCL and the department of biotechnology, the Indian Vaccines Corporation was promoted for the commercial production of injectible polio vaccines in the country. However, the project did not take off.
The Reliance Group is in talks with the government to acquire management control at the corporation to utilise its production facilities for Reliance Life Sciences.
In its latest annual report, IPCL has said,