The Government of India has approved proposals for FDI in Pharma Sector amounting to around Rs 4,000 crore by four pharma and medical devices firms. The pharma companies include Torrent Pharmaceuticals, Biocon’s research services arm Syngene, Stericat Gut Strings Pvt Ltd, and Ordain Health Care Global Pvt Ltd. The government rejected proposal from Strides Arcolab, Celon Laboratories, Shantha Biotechnics and Sparsha Pharma International.

• Ahmedabad-based Torrent Pharmaceuticals’ Rs 3,000 crore proposal for increasing FII investment limit to 35% from 13.09% was the biggest in terms of value approved by the government.
• Syngene International’s proposal to raise FDI of around Rs 930 crore by raising the foreign investment to 44% from the approved percentage of 10% was the second biggest.