STP Pharmaceuticals MD gets ‘National Award’ for outstanding entrepreneurship in Micro, Small & Medium Enterprises

SE Report

GANGTOK, September 7: Sonam Lhamo, the Managing Director of STP Pharmaceuticals Private Limited, Sangkhola near Singtam received ‘National Award’ from the Prime Minister Dr. Manmohan Singh for her outstanding entrepreneurship in Micro, Small & Medium Enterprises from North East Region including Sikkim on August 28.
The award comprised of Rs. 1 lakh in cash, certificate and trophy.

Established in February 1999 in collaboration with M/s. Franco-Indian Pharmaceuticals Pvt. Ltd., (FIP) Mumbai with an initial investment of Rs. 28 Lakhs in Plant and Machinery with 66 employees, STP Pharmaceuticals Pvt Ltd has 159 employees at present.

The company manufactures all products for Franco-Indian Pharmaceuticals. The products are marketed by them. After fulfilling the demands for the domestic market, Franco-Indian Pharmaceuticals is also exporting products manufactured in STP to overseas.

A press release adds that 95 percent of the employees at STP Pharmaceuticals are needy local unemployed people who have just had primary or no education with an average age of 25 years.

The facilities for the employees at the company include Employees Provident Fund, 13 months’ salary against 11 working months, subsidised canteen, regular medical examination, medical reimbursements including long term ailments, operations etc, free accommodation for officers from outside of the State, interest free loans, leave facility and subsidised ration shop.

Till the end of the last financial year 2008-2009, STP has contributed Rs. 34.15 crores as revenue to the State Government.

As far as certificates awarded by the government, FIP and STP, the release states are quality conscious and all their products are tested stringently before being passed. STP has, therefore, been awarded with the W.H.O-G.M.P certificate because of its facilities and quality product in the Pharmaceutical field, the release said.
Meanwhile, Mrs Lhamo has thanked the Ministry of Micro, Small & Medium Enterprises, Government of India and State Commerce and Industries Department and also to Chief Minister Pawan Chamling for his guidance and encouragement.

She has also expressed her appreciation and gratitude to P. Postel, Managing Director, Franco-Indian Pharmaceuticals for his continued support as well as all the staff and employees of STP for their dedication and hard work.