Pharma Firms Moving Out of Maha

More than 50 pharmaceutical companies have scaled down operations in Maharashtra and Gujarat and are moving out to states like Uttaranchal and Himachal Pradesh following steep hike in excise duty in the Budget. "About 50 companies including Torrent, Sun Pharma, Indoco and Alchem are moving to Uttaranchal, Himachal Pradesh and Jammu & Kashmir to avail benefit of the zero per cent excise duty and more companies are following suit," sources in Indian Drug Manufacturing Association (IDMA) said.

The Economic Times (http://economictimes.indiatimes.com/articleshow/1053598.cms)