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ZINC METAL FUTURE PLANS

Hindustan Zinc plans to ramp up capacity by 50% Sun Pharma expects Taro buyout to aid dermatology

Vedanta-owned Hindustan Zinc Ltd. in latest technology for maximum metal employees, including 109 women business profi tability
(HZL) plans to raise its zinc pro- recovery and digitisation of mining & engineers, who are breaking the glass
duction capacity from 1-mtpa to 1.5-mtpa smelting operations. ceiling in mining and smelting opera- Sun Pharma is looking to fully ac- constant, increasing competition pres- had noted. Sun Pharma had acquired a
through brownfi eld expansion. tions. At HZL, women are working in all quire its Israel-based unit Taro Pharma- sure,” Mr. Shanghvi said in an analyst controlling stake in Taro in September
“Zinc will play a key role in India’s “Today, the Pantnagar Metal Plant is key functions right from driving large ceutical Industries in order to integrate call. “And as a stand-alone company, 2010 after nearly four years of legal
growth story. We are looking forward to powered entirely by renewable energy, mining vehicles to operating plants and the dermatology business with itself and it will be very diffi cult for Taro as an wrangling.
at least 3-4% growth in the sector and and with our solar and wind projects working night-shifts, she said. Currently, keep it profi table amid increasing com- independent company to continue to
plan to ramp up our production by 50% accounting for 180-MW and 250-MW 19.5% of executive workforce, 35% of petition in the segment, according to operate that business profi tably. So that R&D spending
from 1-mtpa to 1.5-mtpa,” said Ms. Priya respectively, HZL will reduce its coal management committee and 21% of Managing Director, Mr. Dilip Shanghvi. broadly is the reason why we felt that Meanwhile, speaking at the company’s
Agarwal Hebbar, Chairperson, HZL, dependency by 50% by 2025,” she said. executive committee comprise women, it’s useful for us to consider integrating Annual General Meeting (AGM),
at the company’s 57th annual general she added.In Q1 FY24, HZL’s net profi t Sun Pharma has proposed to fully that with Sun Pharma,” he added. Mr. Shanghvi said the company aims to
meeting. HZL was the fi rst in the country to dropped 36% to Rs. 1,964-crore, against acquire Taro through a reverse triangu- spend 7-8% of sales in the current fi scal
introduce battery-operated electric vehi- Rs. 3,092-crore during the correspond- lar merger. The company has issued a The purchase price offered by Sun on research and development as it looks
During FY23, the company cles in underground mining, and is aim- ing quarter of last year, while revenue letter to the Taro board with a proposal represents a premium of 31.2% over to further strengthen its product port-
achieved refi ned metal production ex- ing to achieve its ESG targets by 2030, dropped 22% to Rs. 7,282-crore (Rs. containing a non-binding indication of Taro’s closing price on May 25, 2023, folio across therapeutic segments. The
ceeding 1-mt, and in Q1FY24 it recor- ahead of the parent Vedanta Group’s goal 387-crore), due to lower prices in the interest to acquire all of the outstand- a 41.5% premium over Taro’s average drug major spent about Rs. 2,400-crore
ded a production of 257-kt by investing set at 2050. The company has 505 women recent quarter. ing ordinary shares for a purchase price closing price in the last 60 days and a on R&D in 2022-23, which accounted
COMMITMENT TO SUSTAINABILITY of $38 per ordinary share in cash. Sun compelling liquidity opportunity for for 5.5% of sales. Mr. Shanghvi said
Pharma currently owns around 78% Taro’s shareholders, Sun Pharma had the expansion of its global speciality
Grolman Group receives Ecovadis Platinum stake in Taro. stated in a regulatory fi ling in May this business is expected to continue going
year. Under the indicative proposal, ahead. “All our businesses are well-
The Grolman Group, an inter- refl ecting its commitment to sustainable ted to this milestone,” said Mr. Florian “My own assessment is that the derma- post the acquisition, Taro will become a positioned, and we expect high-single-
national specialty chemical ingredients practises. “The path to this remarkable Grolman, CEO, Grolman Group. tology business, which is the primary wholly-owned subsidiary of Sun Pharma digit consolidated topline growth
distribution fi rm, with sales offi ces achievement was marked by conscien- focus for Taro, is a business under and will be delisted from NYSE, it for FY24,” he added.
based in all European countries, Turkey, tious efforts. From transparent reporting The Grolman Group, run by the
Maghreb, Egypt, India and China, has to active stakeholder engagement to im- fi fth generation of the Grolman family, LOBBYING EFFECT
announced that it has been awarded plementing sustainable practises in the has been privately owned since it was
a ‘Platinum Rating’ from EcoVadis, supply chain, every step has contribu- established in 1855. NMC puts on hold regulation mandating prescription of
ACCIDENT
generics
Bromine leakage at PI Industries’ Jambusar plant The National Medical Commission Association (IMA) and Indian Pharma- Indian Medical Council (Professional
At least 27 persons were hospita- offi cials, the incident took place due to the leakage. The situation was con- (NMC) has put on hold regulations ceutical Alliance (IPA) had expressed Conduct, Etiquette and Ethics) Regula-
lised after inhaling bromine, a toxic gas, technical fault in the bromine storage trolled in an hour. As a precaution, the that would have made it mandatory for concern claiming the regulations were tions, 2002, will come into immediate
that leaked from the factory of PI Indus- tank. “This resulted in leakage of red workers who were working in the doctors to prescribe generic drugs. not feasible because of the uncertainty effect. According to the regulations, regi-
tries Ltd. near Jambusar in Bharuch dis- gas in the air. Company’s safety team affected area were shifted to the hospital about their quality. Members of the stered medical practitioners and their
trict of Gujarat. According to company promptly reached the spot and repaired and they are safe,” the statement added. The Registered Medical Practitioner two associations met the Union Health families must not receive any gifts, travel
(Professional Conduct) Regulations, Minister, Dr. Mansukh Mandaviya, to facilities, hospitality, cash or monetary
Shell India appoints Mansi Madan Tripathy as new 2023, were published on August 2. It get their concerns heard. grants, consultancy fees or honorariums,
stated that all doctors must prescribe or access to entertainment or recreation
Country Chair generic drugs, failing which they will “It is clarifi ed that the National from pharmaceutical companies or their
be penalised, and even their license to Medical Commission Registered Medi- representatives, commercial healthcare
Shell India has announced the said in a statement. “As Country Chair her home city, to take up the role,”’ it practice may also be suspended for a cal Practitioner (Professional Conduct) establishments, medical device compa-
appointment of Ms. Mansi Madan of Shell India, Mansi will oversee Shell said. A graduate from the National Ins- period. It also asked doctors to avoid Regulations, 2023, shall not be operative nies, or corporate hospitals “under any
Tripathy as the new Country Chair, Group of companies in India, in addi- titute of Technology Kurukshetra, prescribing branded generic drugs. and effective till further Gazette Notifi - pretext”. This does not include salaries
effective October 1. She will succeed tion to her role as Vice President, Shell Ms. Tripaty has an MBA in Marketing cation on the subject by the National and benefi ts that registered medical
Mr. Nitin Prasad who has been the Lubricants for Asia Pacifi c. Mansi will from SP Jain Institute of Management ‘Not sure of quality’ Medical Commission,” a NMC notifi - practitioners may receive as employees
Country Chair since 2016, the company relocate from Singapore to New Delhi, and Research. Incidentally, the Indian Medical cation said. However, it added that the of these organisations.

146 Chemical Weekly September 5, 2023 Chemical Weekly September 5, 2023 147

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