Winning Bizness Desk

Mumbai. The central government has put up its Ayurveda company Indian Medicines Pharmaceutical Corporation (IMPCL) for sale and the oldest Ayurveda company in the country Baidyanath Group has shown interest to buy it. Apart from that, Mankind Pharma Company, which manufactures Manforce condoms and medicines, has also shown interest and entered into the competition. Baidyanath Group and MadKind Pharma have submitted Expression of Interest (EOI) to buy government-owned IMPCL. According to a report, two more companies have expressed interest in buying IMPCL. One of them is an asset reconstruction company and the other is a private equity company. IMPCL, a state-owned pharmaceutical company, had a revenue of Rs 250 crore in 2022. The profit margin of the company was 25 percent. IMPCL company was started in 1978 by the then central government. Now this company is for sale.

Manufactures 656 Ayurvedic, 332 Unani and 71 Proprietary Ayurvedic medicines

IMPCL is a company that supplies medicines across the country for government health schemes. Medicines are supplied by this company to dispensaries and clinics under CGHS. IMPCL manufactures 656 Classical Ayurvedic, 332 Unani and 71 Proprietary Ayurvedic medicines. All these medicines are supplied all over the country. Apart from that, Ayush also supplies Ayurvedic medicines in many states under the mission. Medicines are also supplied to 6000 public medicine centers under the Ministry of AYUSH through IMPCL.

Patanjali not interested

Patanjali Ayurveda was also likely to enter the fray to buy it, but according to the reports, no interest has been shown by the Patanjali company, even as Patanjali Company has refused to submit Expressions of Interest. "Many EOIs have been received for disinvestment of Indian Medicine Pharmaceutical Corporation (IMPCL). Now this transaction will move to the second phase," Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management, informed through a tweet on October 30.