The Government on Friday brought two State pharmaceutical joint venture companies — Karnataka Antibiotics and Pharmaceuticals Ltd. (KAPL) and Rajasthan Drugs and Pharmaceuticals Ltd. (RDPL) — under its direct control to help them in upgrading their manufacturing facilities.
As per the proposal approved by the Union Cabinet at its meeting here, the equity shares of Bangalore-based Karnataka Antibiotics and Pharmaceuticals held by Hindustan Antibiotic Ltd. (HAL) are to be transferred to the Centre (President of India) along with an additional investment of Rs. 7.10 crore.
Likewise, the equity shares of Jaipur-based RDPL, now held by Indian Drugs and Pharmaceuticals Ltd. (IDPL), are to be transferred to the Centre along with a proposal to inject Rs. 2 crore, Union Minister for Science and Technology Kapil Sibal briefed media after the Cabinet meeting.