Page 153 - CW E-Magazine (21-1-2025)

Pharmaceuticals Hydrocarbons

INDUSTRY NOT YET READY TACKLING CRUDE PRICE VOLATILITY
Govt. urged to extend Schedule M deadline MRPL partners ISPRL for cost-effective crude oil

Pharma lobby group, Federation represents the pharmaceutical MSME revised norms were notifi ed by the storage facility
of Pharma Entrepreneurs (FOPE), has sector, has written to the government to health ministry in January last year.
urged the government to extend the extend the deadline till December 31, According to the new draft, the “small Mangalore Refi nery and Petro-
deadline for compliance with the re- 2026 instead of the December 31, 2025, and medium manufacturers with turnover chemicals Ltd. (MRPL) has entered
vised Schedule M by two years. This deadline suggested in the draft. of or less than Rs. 250-crore may seek into a strategic deal to store its crude
comes as the government is nearing extension of the timeline for implemen- oil in the caverns of the Indian Strategic
fi nalisation of a draft notifi cation “Such time is required for existing tation and for that purpose shall make Petroleum Reserves Ltd. (ISPRL).
proposing to extend the compliance manufacturers to carry out extensive an application to the Central Licence
deadline for the revised Schedule M. upgradation as required including Approving Authority within a period of “This partnership enables MRPL
arranging fi nance/additional collateral three months from the date of publica- to leverage storage capacity from
Earlier the government had invited security, training, implementation etc,” tion of this notifi cation along with the ISPRL’s caverns, marking a signifi cant
public comments on the draft, citing FOPE said in its letter dated January 10. plan of upgradation. For such manufac- milestone for both the organisations,”
that the notifi cation will be fi nalised turers, the timeline for implementation MRPL said in a statement on January
after considering the public comments Schedule M outlines quality stan- shall be extended till December 31, 7, 2025. The agreement was signed by
received till January 11. FOPE, which dards for pharmaceutical products. The 2025,” it said. Mr. B. Sudharshan, Executive Director
Wockhardt’s novel antibiotic gets regulatory approval (Refi nery) MRPL, and Mr. Atul Gupta,
Deputy Chief Executive Offi cer, ISPRL,
in the presence of Mr. M.S. Kamath, would enable the company to enhance can allocate capital to other critical
Wockhardt has received Central compliance to the treatment regimen. A dedicated, small team is being set
Drugs Standard Control Organization’s Dr. Khorakiwala said nafi thromycin’s up to take the product to respiratory Managing Director, MRPL and its crude oil storage capacity, thereby areas of its operations, driving overall
effi ciency and growth. “Storing diverse
Mr. L. R. Jain, CEO and MD (ISPRL).
mitigating risks associated with the vola-
(CDSCO’s) approval for its novel pricing would be decided closer to specialists, he said. tility of global crude oil markets. The grades of crude oil as per MRPL’s
antibiotic nafi thromycin (Miqnaf). launch. Being a complex molecule, ISPRL, a fully-owned subsidiary of company said that leasing ISPRL’s cav- requirements provides operational
The company expects to launch this it would be priced higher than older The company has spent about Oil Industry Development Board under erns eliminates the need for construct- adaptability,” it said.
product in Indian, in about two-three existing antibiotics in the market, $500-mn on researching its antibiotic the Ministry of Petroleum and Natural ing and maintaining standalone storage
months, as local clearances are to be he said. The active pharmaceutical products. CABP affects millions Gas, is responsible for maintaining the facilities, thereby reducing costs. Fur- In the first phase, ISPRL created
taken and manufacturing and supplies ingredient would be produced at its worldwide with 23 percent of the country’s strategic petroleum reserves ther, the proximity of ISPRL caverns to underground rock caverns to store
readied, as per a Hindu BusinessLine Ankleshwar plant and the fi nished global disease being in India, it by storing them in underground rock MRPL’s refi nery and the coast minimises 5.33-mt of crude across three locations:
report, quoting Chairman Dr. Habil dosage form at Daman, he said. added. caverns. transportation costs and transit time. Visakhapatnam, Andhra Pradesh (1.33-mt),
Khorakiwala.
NUTRACEUTICALS and Mangalore (1.5-mt) and Padur
The antibiotic is an ultra-short Botanic Healthcare raises Rs. 250-crore Mr. Kamath said the agreement By opting for leased storage, MRPL (2.5-mt) in Karnataka.
course – once-a-day, three-day treat-
ment for Community-Acquired Bac- from investors Indian Gas Exchange awaits regulatory nod
terial Pneumonia (CABP) in adults,
including those caused by multi-drug Botanic Healthcare, the Hyderabad- strengthen its presence in the rapidly to launch 3-6 month contract
resistant (MDR) pathogens, the com- based nutraceutical maker said it has growing global nutraceutical market,
pany said. Its investigational anti- successfully raised Rs. 250-crore in the company said. The Indian Gas Exchange (IGX) The pricing of the 3-6 month contract for city gas sellers. “If a city gas distri-
biotic ‘WCK 5222’ (Zaynich-Zide- its latest funding round. has sought regulatory approval to will be linked to global benchmarks butor doesn’t have a CBG plant, they
bactam/Cefepime) is also moving “The capital will fuel Botanic launch a 3-6 month gas contract, and IGX’s own index called GIXI. can buy these certifi cates. Trading will
ahead, and Wockhardt expects to fi le The investment, structured as Healthcare’s aggressive expansion according to its CEO, Mr. Rajesh also encourage compressed bio gas
this with the drug regulator in the fi rst equity fi nancing, was led by Stake- strategy, with the company aiming to Mediratta. “We are awaiting a clea- The new long-duration contracts production,” he said.
quarter of the year, he said. boat Capital. The round saw partici- grow by 400% over the next 3 years,” rance from PNGRB (Petroleum and will have a payment cycle of a fortnight
pation from co-investors – Abakkus the company said. As part of its plans, Natural Gas Regulatory Board),” he compared to the current 2-3 days, IGX has also signed a preliminary
On nafi thromycin, Wockhardt Four2Eight Opportunities Fund and Botanic Healthcare said it will enhance said. Mr. Mediratta said. Additionally, IGX is agreement with Austria’s Central
said, it represented a new mac- DS Group, one of Stakeboat Capi- its product portfolio and forge strategic considering introducing green certifi - Europeans Gas Hub to explore gas
rolide-based treatment for CABP in tal’s LP (Limited Partner). The fund- partnerships, while boosting its R&D IGX, a unit of Indian Energy cates for trading, he said, as the govern- trading opportunities, including those
India, after almost 30 years. And the ing will enable Botanic Healthcare and clinical research capabilities through Exchange, currently has intraday, day- ment looks to make the usage of 1% for green gases such as hydrogen and
short course will help improve patient to consolidate its group entities and joint ventures and collaborations. ahead, daily, and fortnightly contracts. compressed bio gas (CBG) mandatory methane.

152 Chemical Weekly January 21, 2025 Chemical Weekly January 21, 2025 153

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