The pharmaceutical sector topped the list of foreign direct investment (FDI) proposals that the government cleared on Tuesday.

The union government yesterday cleared a total of 21 FDI proposals, including eight proposals from the pharmaceutical sector. Total worth of all the cleared proposals is estimated at Rs 2,410 crore, out of which brownfield pharmaceutical sector accounts for Rs 1,842.55 crore.

In the pharmaceutical sector FDI inflow, Mumbai-based Pfizer accounts for the biggest share of Rs. 800 crore. Pfizer proposes to bring FDI in the form of an operating-cum-investing company.

Mumbai-based Arch Pharmalabs has proposed to bring in foreign investments of Rs. 372.36 crore in an existing company.

Among other approved FDI plans, B Braun Singapore will acquire shares of a company that deals in life-saving intravenous fluids and ophthalmic products business.

The proposal of Pfizer was cleared by the Foreign Investment Promotion Board, headed by Arvind Mayaram - the secretary of Department of Economic Affairs.

The board has specified that the quantitative level of production of National List of Essential Medicines as well as the research & development expenses incurred by the investee at the time of induction of foreign equity would be maintained at that same level for the next five years.