Updated on 27 August 2012
However, two fresh proposals by Advanced Enzyme Technologies and UK-based Dashtag were rejected. Sutures India's plans and have been stuck since March. Two new proposals by Advanced Enzyme Technologies Ltd and the UK-based Dashtag were deferred.
The Department of Industrial Policy and Promotion (DIPP) has vehemently opposed the investment proposals citing public health concerns and the impact that acquisitions of Indian pharma companies by foreign companies could have on the availability of low-cost drugs. This delayed the clearance of such proposals by almost five months. Foreign investment in pharma came to a halt last year after the government decided to impose conditions holding up Rs 3,000-crore worth of FDI proposals.
In last four years, MNCs have bought out several Indian firms which include Daiichi Sankyo's purchase of Ranbaxy and Abbott's buyout of domestic formulation business of Piramal Healthcare.