Page 11 - Health Sector

Healthcare innovation to double at $60 bn opportunity by FY28 in India

Indian vaccines and biotech market, which was valued at $4 billion in FY23, accounting for 15 percent of the innovation market, has quickly grown from $1.2 billion in FY20

Double-blind trial soon for Ayush drugs to treat anaemia in women

The ministry on Monday tied up with the Indian Council of Medical Research (ICMR) to conduct the study, which aims at backing up Ayush treatment with scientific and evidence-based research

'Two-thirds of greenfield units under PLI for bulk drugs completed'

Union Minister of Chemical and Fertilisers Mansukh Mandaviya on Saturday inaugurated 40 greenfield facilities to manufacture bulk drugs and medical devices under the PLI scheme

Biocon Biologics gets green light to launch Yesafili biosimilar in Canada

Under the agreement, Biocon Biologics will launch Yesafili no later than July 1, 2025. Health Canada had granted tentative approval for Yesafili in March 2023

Major hospital chains report increase in average revenue per occupied bed

The increase in ARPOB comes despite significant bed additions by hospitals in the past two financial years

Pfizer, Niper collaborate to support healthcare startups in India

The Pfizer INDovation initiative, which has supported 34 startups in India till now, is now expanding its reach through this collaboration with NIPER Ahmedabad

Union min Baghel inaugurates 1st National Public Health India conference

He said that programs are also being run by the Health Ministry regarding the elimination of Kala-azar. Apart from this, the rural housing scheme also has an important contribution to this

Preventive and wellness tests drive growth for diagnostic companies

Covid-19 led to increase in self-testing awareness, particularly about preventive and wellness services

Understanding Dermatomyositis, the disease that claimed Dangal star's life

Often misunderstood due to its rarity and complex symptoms, this condition requires comprehensive understanding and awareness to ensure timely diagnosis and effective management

GPT Healthcare sets price band at Rs 177-188 for IPO opening on Feb 22

The company revealed the price band for its upcoming initial public offering (IPO), set at Rs 177 to 188 per share

Startup launches AI-backed education, health, edutainment content service

A start-up has recently announced that it will provide curated education, health, and edutainment services targeting specific needs using artificial intelligence. The start-up platform called Ascend, which is backed by the Accolade Group, claims to be the first knowpedia (Knowledge pedia). "We are the world's first knowpedia and, currently, focused on health, education, and edutainment. We are using AI and human intervention to provide targeted, curated services and content for individual requirements, which are not available now. We are trying to tap this space," Accolade Knowledge CEO Monika Lahiri said. "Our app will deliver AI-backed solutions for the common man, by aggregating and creating curated content tailored to an individual and offer skill development for re-employability, she said. It is projected that there will be a lot of job redundancy due to the deployment of AI by corporates and businesses, she said. Another Silicon Valley start-up has tied up with Accolade to .

In next 4-5 years, we aim capex of Rs 1,500 cr: Biocon's Siddharth Mittal

Siddharth Mittal outlines the growth strategies and challenges ahead

Govt to launch central databases for citizens to track doctors' credentials

Patients to benefit from the move especially in rural areas

Zydus Lifesciences Q3FY24 results: Profit up 27% at Rs 790 crore

Zydus Lifesciences on Friday said its consolidated net profit increased by 27 per cent to Rs 790 crore in the third quarter ended December 31, 2023. The drugmaker had reported a net profit of Rs 623 crore in the October-December period a year ago. Revenue increased to Rs 4,505 crore in the third quarter from Rs 4,257 crore in the year-ago period, Zydus Lifesciences said in a statement. The company said its board has approved a proposal to buy back shares of up to Rs 600 crore. "We are pleased with our Q3 FY24 performance, particularly with a strong recovery in the domestic formulations business and a resilient US base business," Zydus Lifesciences Managing Director Sharvil Patel said. He further said: "We are optimistic about our growth prospects driven by a differentiated portfolio in the US, continued performance of key brands, well supported by a robust execution engine." The company remains on track to end the fiscal year 2024 with a healthy double-digit revenue growth, Patel

Apollo Hospitals profit rises 60% in Q3; digital biz achieves break-even

The company's revenue from operations was seen up by 14 per cent in FY24 to Rs 4850.6 crore, compared to Rs 4,263.6 crore during the third quarter of 2022-23

Medanta Q3 results: Profit up 53% at Rs 123.54 cr, revenue up 19.9%

Consolidated net profit fell by 1.29 per cent from Rs 125.16 crore, whereas revenue fell by 1.34 per cent from Rs 843.93 crore in Q2 FY24

Health tech startup Neodocs raises Rs 16.6 cr in seed funding round

Company that makes smartphone-based medical test kits will use the financing to expand business

Fortis Healthcare Q3 results: Profit down 3.2%, revenue grows by 7.7%

The company reported a fall in bed occupancy to 64 per cent in Q3FY24, from 66.1 per cent in the same quarter last year. This has been attributed to the addition of 100 operation beds

Max Healthcare signs MoU with RCOG for advanced gynaecology programme

As part of the MoU, both organisations will work to promote and conduct training in obstetrics and gynaecology, assessment, and certification of training in India

Falling biotech funding may be a bitter pill to swallow for CDMOs

Indian CDMOs are focusing on big biotech clients, and going forward, they believe the funding issues will not last long