NPPA to cap coronary stent prices

Business Standard

An employee of Lupin Limited works at a reception at their headquarters in Mumbai

Drug maker Lupin recorded a net profit of  Rs 881.9 crore in the first quarter of the financial year 2016-17 , up 55 per cent from Rs 568.5 crore during the same period last year. This is the best quarterly numbers from Lupin so far, aided by its fast growth in the US and Japan markets.   The company's net income from operations has also shown an upward trend, touching Rs 4439.4 crore, up from Rs 3156 crore in the June quarter last year. The company has invested increasingly in research and development. The investment in R&D was Rs 499.4 crore in the June quarter of FY2016-17, up from Rs 313 crore in the corresponding period last year. Speaking to Business Standard, Kamal Sharma, vice-chairman of Lupin, said that the growth in the Indian market had been flat at 5% predominantly due to the ban on fixed dose combination drugs, He stated that growth in Japan was around 11% due to a strong Yen. Lupin maintains that the US will be the most attractive market for them given the transparency i

Lupin Q1 profit up 55% on the back of overseas business

Dr Reddy’s gets nod to import 15 active ingredients into EU

Dr Reddy's production room

The order will enable the company to import these substances for a period of three years, ending June 2019

Dr Reddy's gets nod to export 15 drugs to EU

Carbogen Amcis' facility in Bubendorf (Switzerland)

Carbogen Amcis’ facility in Bubendorf (Switzerland)

Dr Reddy's Labs ties up with US-based Cutis Pharma for API &amp; drug research

Drug firms worried over govt plan to add MRP to bar codes

Department of Pharmaceuticals is toying with the idea of adding maximum retail price of a  product to the bar-codes, it is learnt. This is being seen as a move by the government to  ensure that MRPs are adhered to . Although the proposal is at a nascent stage, pharma industry is already worried, an official said. Representatives of the pharma industry believe that the step would benefit the consumer by ensuring that no retailer sells any product above the MRP. However, they are concerned about how the government will implement it in India.An executive with a pharma industry pointed out that small towns may or may not have the requisite machinery to scan the bar codes. "How will a retailer scan the price on the bar-code if he doesn't have the requisite mechanism for it? Does it mean a retailer will stop selling drugs just because he is incapable of scanning the price?" Industry is of the opinion that sales might take a hit if this is enforced. "Many places in India have frequent power c

A mixed prognosis for pharma sector

If the taxation structure for essential medicines changes within the GST regime, prices of drugs could increase significantly

Pharma exporters hope for a barter-deal with African nations to beat currency blues

The pharma industry has mixed feelings about the goods and services tax. Industry executives and analysts believe that if the rate is upto 12 per cent, it shouldn't affect the healthcare and pharmaceutical sector. Wockhardt's Habil Khorakiwala in a conference call on Thursday said the supply chain will benefit with the elimination of multiple taxation. He feels that if the rate is at 12 per cent, drug prices are likely to only go up marginally. However, if the taxation structure for essential drugs changes with the GST regime, prices of drugs could increase significantly. An official at Department of Pharma said if the sector is touched by the GST, the purpose of the National Pharmaceutical Pricing Authority (NPPA) will become redundant. He told  Business Standard if drugs are brought under the GST regime, NPPA will not be able to function. "NPPA is trying to bring the prices down and is succeeding in its endeavour. If these drugs come under GST regime, NPPA's efforts will be in vain."

Drug price hike linked to GST rate

An Abbott company logo is pictured at the reception of its office in Mumbai

US-based diagnostic company Alere confirmed that the merger agreement it signed with Abbott earlier in the year is still on. Dispelling apprehensions about the deal getting stuck,the company's president and CEO Namal Nawana, who's in the country for launching a manufacturing facility in Manesar, said on Wednesday, ''it is on''.  Alere, a company listed on the NYSE, signed an agreement with Abbott in February for  merging the two companies. However, Abbott expressed reservations about Alere not disclosing its financials in a transparent manner as part of the merger agreement, thereby casting a doubt over the deal. Alere had also said that it would delay laying on table its financials for 2015 to the US securities regulator. The two companies had signed an agreement of merger estimated at $5.8 billion. While seeking termination of the agreement, Abbot reportedly offered to pay $30 billion to $50 billion, depending on the expenses incurred by Alere for working out the pact. However, Alere

Veena Mani