Indian drug companies bag first tranche of $20 million under PLI scheme
Four applicants have received the first tranche of incentives under India's Production Linked Incentive (PLI) scheme released by the Department of Pharmaceuticals (DoP), which awarded the Indian drugmakers $20 million.
These companies are Dr Reddy's Laboratories (BSE: 500124), Biocon Limited (BSE: 532523), Strides Pharma (BSE: 53253) and Premier Medical Corporation Private Limited.
Some 15 applicants submitted incentive claims worth $65 million to the department. Incentives involving the four applicants were found eligible based on the evaluation, with the department examining the rest.
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