Government is going to sell its pharmaceutical company, condom manufacturing company can become the owner

The government is going to sell its old pharmaceutical company. Another big giant like Baidyanath Group has expressed interest in the race to buy this government company. Mankind Pharma, which has made a name in its sector, has also submitted Expression of Interest i.e. EOI. The revenue of this government company was around Rs 250 crore.

The government is going to sell its famous Ayurveda pharmaceutical company Indian Medicine Pharmaceuticals Corporation i.e. IMPCL. On one hand, the country's oldest Ayurveda company Baidyanath Group has expressed its desire to buy this government company. Meanwhile, Madkind Pharma, a company manufacturing Manforce condoms, contraceptives and other medicines, has also shown interest.

Both these companies have submitted Expression of Interest i.e. EOI to buy this government pharmaceutical company. According to a report in Economic Times, two more companies have expressed their desire to buy this government company. One of them is an asset reconstruction company and the other is a private equity company. Actually, this government pharmaceutical company had generated a revenue of Rs 250 crore in the year 2022. Talking about profit, the profit margin of the company was 25 percent. This company was started by the government in 1978.

What does this government company do?

Government pharmaceutical company Indian Medicine Pharmaceuticals Corporation supplies medicines to the health schemes run by the government. This company supplies medicines to the dispensaries and clinics under CGHS. This government company currently manufactures 656 classical Ayurvedic, 332 Unani and 71 proprietary Ayurvedic medicines. These medicines are supplied all over India. Apart from this, under the National AYUSH Mission, this government company also supplies Ayurvedic medicines to many states of the country. At the same time, this company also supplies medicines to 6000 Jan Aushadhi centers under the Ministry of AYUSH.

What does Mankind Pharma do?

Mankind Pharma, established about 28 years ago, has today become a well-known name in its industry. The company's famous products include its Manforce condom and contraceptive Prega News. The company has been included in the top five pharmaceutical companies of India in domestic sales. This company was started in the year 1995 by two brothers, Ramesh C. Juneja and Rajeev Juneja. This company, which was started with a capital of only Rs 50 lakh, has today become a big name in its field. Now if this company buys the government pharmaceutical company Indian Medicine Pharmaceuticals Corporation, then the company can expand into a new segment.