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Fosun Pharmaceutical
Sun Pharmaceutical Industries has lined up a USD 100 million investment to commercialise innovative products in the current fiscal, according to Chairman and Managing Director Dilip Shanghvi. The Mumbai-based drug major said the capital outlay will help in significantly strengthening the company's speciality (patented products) business for the future. "For the current year, we are looking to invest approximately USD 100 million additionally on the commercialisation of new speciality products," Shanghvi told analysts in a call. The drug major plans to majorly invest in the launch of two products -- Unloxcyt and Leqselvi. Unloxcyt is indicated for the treatment of adults with metastatic cutaneous squamous cell carcinoma, while Leqselvi is for the treatment of adults with severe alopecia areata. In FY25, the company's global speciality sales rose 17.1 per cent to USD 1,216 million. In the January-March quarter of FY25, the sales were up 8.6 per cent to USD 295 million. Elaborating
Drug makers Glenmark, Sun Pharma and Zydus are recalling products in the US for manufacturing issues, the US Food and Drug Administration (USFDA) said in its latest Enforcement Report. As per the US health regulator, Mumbai-based Glenmark is recalling over 25 products in the US market due to Current Good Manufacturing Practice (CGMP) deviations. New Jersey-based Glenmark Pharmaceuticals Inc is recalling affected lots of medications like Propafenone Hydrochloride extended-release capsules and Solifenacin Succinate Tablets in America, the USFDA said. It is also recalling products like Voriconazole Tablets, Lacosamide Tablets, Frovatriptan Succinate Tablets and Rufinamide Tablets. The company initiated the Class II recall on March 13 this year. As per the USFDA, a Class-II recall is initiated when the use of, or exposure to, a violative product may lead to temporary or medically reversible health consequences, or when the likelihood of serious adverse health outcomes is minimal. A .
Fosun Pharma, one of the promoters of Gland Pharma, on Wednesday divested a 6 per cent stake for Rs 1,754 crore through an open market transaction. Chinese drug firm Fosun Pharma, through its arm Fosun Pharma Industrial Pte, offloaded the shares of Hyderabad-based Gland Pharma through a bulk deal on the BSE. According to the bulk deal data available on the BSE, Fosun Pharma Industrial Pte disposed of 99 lakh shares or a 6 per cent stake in Gland Pharma. The shares were sold at an average price of Rs 1,771.81 apiece, taking the deal size to Rs 1,754.09 crore. After the stake sale, Fosun Pharma's shareholding in Gland Pharma has declined to 51.86 per cent from 57.86 per cent. Meanwhile, UBS Principal Capital Asia picked up 8.25 lakh shares, amounting to a 0.5 per cent stake in Gland Pharma. The shares were purchased at an average price of Rs 1,771.05 per piece, taking the transaction value to Rs 146.11 crore. Details of the other buyers of Gland Pharma's shares could not be ...
Sun Pharmaceutical Industries Ltd on Wednesday said its arm has entered into a licensing agreement with Aclaris Therapeutics, Inc that includes upfront payment of USD 15 million (about Rs 125 crore), regulatory and commercial milestones, and royalties. The agreement has been signed between Sun Pharmaceutical Industries, Inc Aclaris Therapeutics -- a clinical-stage biopharmaceutical company focused on developing novel drugs for immuno-inflammatory diseases, the company said in a regulatory filing. "Under the license agreement, Aclaris granted Sun Pharma exclusive rights under certain patents for the use of deuruxolitinib, Sun Pharma's JAK inhibitor, or other isotopic forms of ruxolitinib, to treat alopecia areata (AA) or androgenetic alopecia (AGA)," it added. The company further said, "The agreement includes an upfront payment of USD 15 million, regulatory and commercial milestones, and royalties.