(^12) FINANCE NEWS l BioSpectrum | August 2017 | http://www.biospectrumindia.com
Global healthcare company GlaxoSmithKline
Pharmaceuticals Ltd is investing Rs 1,000 crore in a
new state-of-the-art pharmaceutical unit in Karnataka
and is looking at enhancing its global pipeline in areas
like respiratory drugs and vaccines in India.
The company is assessing new products from its
global respiratory and vaccines pipeline and reviewing
these for a possible launch in India. In addition, it is
also reviewing complementary inorganic opportunities,
adding that nearly 30 per cent of global pharmaceutical
volumes sold by GSK is sold in the country.
The drug major is also upgrading its existing Nashik
facility. In compliance with the GSK respiratory free
strategy and the WHO requirement for the segregated
manufacturing of hormonal products, GSK India has
invested Rs 115 crore to construct a dedicated facility
for the manufacturing of Eltroxin. The new eltroxin
facility will be fully operational in 2018.
Six of the company’s brands feature in the top-
IPM brand list, namely Augmentin, Calpol, Zinetac,
Betnovate-N, Betnovate-C and Synflorix. The company
has also taken initiatives to re-engineer its business
model to maintain competitive margins.
Reserve Bank has allowed foreign investors
to buy more shares in Fortis Healthcare
Ltd as the company’s board has hiked their
investment limit to 74 per cent. Foreign
Institutional Investors (FIIs)/ Foreign
Portfolio Investors (FPIs) investment
limit under Portfolio Investment Scheme
(PIS) in Fortis Healthcare has increased
from 24 per cent to 74 per cent of its paid
up capital. Fortis Healthcare has passed
resolutions at its board of directors level
and general body as required under FEMA
1999 and foreign investment under PIS
in Indian companies. RBI had put Fortis
Healthcare under the ban list last month
with respect to foreign investment under
PIS as the said limit was 24 per cent at
that time. FIIs, NRIs and PIOs (Persons
of Indian Origin) can invest in primary
and secondary capital markets in India
through PIS. RBI monitors ceilings on
FII/NRI/PIO investments in Indian
companies on a daily basis. It has fixed the
cut-off points two percentage points lower
than the actual ceiling.
RBI allows foreign
investment for
Fortis Health
Columbia Asia invests Rs
400 crore for 2 new hospitals
International healthcare firm Columbia Asia will invest over Rs
400 crore to set up two new hospitals in India by the end of 2019 as
it looks to expand presence in the country. The chain currently has
11 multi-speciality hospitals in India with over 1,000 beds in cities
such as Bengaluru, Kolkata, Ahmedabad, Mysuru, Gurugram,
Ghaziabad, Patiala and Pune.
The new hospitals will be located in Bengaluru and Pune. With
the opening of these two hospitals the firm will be adding around
400 beds.
Healthcare in the country is in a process of evolution. At
present, nearly 70 per cent of healthcare is provided by the private
healthcare players. Going forward, private healthcare will be the
principal provider and the government is likely to become much
more a payer than being a provider. There is also greater need for
accountability and transparency in the sector, he said.
Columbia Asia has 28 medical facilities across Asia, with 11
facilities in Malaysia, 11 in India, 3 in Vietnam and 3 in Indonesia.
It started operations in India in 2004.
GSK pharma plans investment in Karnataka plant
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