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Boost to foreign investment in Pharma sector as FIIs investments in Aurobindo Pharma Ltd. and Glenmark Pharmaceutical Ltd. Approved

Dated:- 8-4-2015 - The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Shri Narendra Modi, approved two significant foreign investments in the pharmaceutical sector. Aurobindo Pharma Ltd. are engaged in manufacturing generic pharmaceuticals and active pharma ingredients, and approvals have been given for Qualified Institutional Buyers to infuse fresh equity of upto 7 percent amounting to about ₹ 2165 crore into the company. The existing FII shareholding is 27.32 .....

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aged in Research and Development activities in drugs. Glenmark Pharmaceuticals is a US$ 1 billion Indian pharmaceutical company, with a global presence with manufacturing facilities in India, Europe and South America. Both companies are promoted by Indian entrepreneurs who have developed a global footprint over the years. The companies are required to continue to produce medicines under the National List of Essential Medicines (NLEM) at the same levels as they had been doing in the past. These c .....

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