China crisis, India scouting for APIs a shot in arm for sick pharma PSU

Govt is trying to reduce dependence on China for APIs and develop indigenous sources

The Chinese crisis and India scouting for alternative sources of pharmaceutical bulk drugs has come as a shot in the arm for sick public sector enterprise Hindustan Antibiotics Ltd (HAL). The company is charting a turnaround plan by starting to manufacture the key bulk drugs that the government has identified under a production linked incentive (PLI) scheme.
 

Speaking to Business Standard, Nirja Saraf, managing director of HAL said, "We are requesting the government to review the decision for strategic sale of HAL."
 

The PSU is also planning to invest Rs 20 crore (as is also the requirement of the newly