Page 4 - Medical Devices

Medical device park in Himachal to provide 10,000 jobs, state Assembly told

The Medical Device Park being set up on 265 acres in Solan district would create 10,000 direct and indirect jobs, Himachal Pradesh Industries Minister Harshwardhan Chauhan told the state assembly on Tuesday. The upcoming park in Manjholi village panchayat under Nalagarh assembly constituency would provide direct and indirect employment to 10,000 persons, Chauhan said in response to a question. The minister said that the state government will bear the entire expenditure on the project which is expected to be completed by December 31, 2025. No technical sanction was pending and there is possibility of setting up 65 industrial units under the project, he added. Meanwhile, chief minister Sukhvinder Singh Sukhu informed the state assembly that 2,708 cases of forest fires were reported during six months of the current year ending June 2024, but there was no loss of human life. In reply to another question of BJP member Sukh Ram Chowdhary, the chief minister said that out of 55 hotels ru

Narayana Hrudalaya's consolidated revenue rises 8.7% to Rs 1,364.4 cr in Q1

The hospital chain reported a net profit of Rs 201.49 crore in Q1FY25 as compared to Rs 184.04 crore in Q1FY24

Veerhealth Care expects Rs 100 crore revenue in upcoming 2-3 years

Veerhealth Care on Monday said it is expecting to reach revenue of Rs 100 crore in the next 2 to 3 years. In a statement, the company said it has executed and delivered an export order valued at USD 50,000 (about Rs 41.50 lakh). Additionally, another export order valued at USD 197,793 (approximately Rs 165 lakh) is scheduled to be fully executed and delivered by the end of July. According to the statement, the company has also received an additional export order worth USD 106,673 (about Rs 89 lakh) from top US Institutional Supplier. The order will be executed within three months, as stipulated by the terms of the purchase agreement. Further, it stated that it is expecting monthly repeat orders from the same top US Institutional Supplier. In addition to this, the company said it is renovating its existing plant in Vapi, Gujarat, to set up a bigger plant which will be US FDA & WHO-compliant. In February 2024, the company has announced its expansion plans with a proposed investmen

Centre looks to standardise breath analyser equipment to ensure accuracy

The new set of rules provides for various types of tests to ensure the correctness of the instrument

Patient safety outfit files PIL against 'dumping' of used medical devices

The domestic lobby felt that local manufacturers who stepped forward to make these devices in India under PLI are left dismayed as a result

Medical device bodies welcome CDSCO order on self-reporting adverse effects

The drug regulator stated that medical device manufacturers need to take appropriate action for timely reporting of adverse events related to medical devices to MvPI

KKR acquires Bengaluru-based medical devices company Healthium MedTech

According to sources close to the deal, the value of the acquisition is Rs 6,500-7,000 crore

Breathe easy! Philips says its sleep apnea devices safe for use in India

The company reached a $1.1 billion settlement for CPAP machine lawsuits in US

Govt expands committee for drugs, medical devices pricing reforms

According to an industry source, the committee will also look at ways to design a price moderation framework for medical devices while providing incentives to the medtech industry to minimize imports

Patanjali, misleading ads, and art of puffery: When brands take it too far

The Supreme Court has come down heavily on Patanjali Ayurved. Advertising, however, is full of examples where brands have taken it too far

Johnson & Johnson to buy equipment maker Shockwave Medical for $12.5 bn

Under the deal, J&J would pay $335 per share in cash for the medical device maker. The offer price implies a 4.7% premium to Shockwave's last close of $319.99 on Thursday

Wipro GE Healthcare to invest Rs 8K cr in 5 yrs on medical devices, R&D

Wipro GE Healthcare on Tuesday said it will invest over Rs 8,000 crore in India over the next five years to increase local manufacturing and research and development (R&D) initiatives. The company, a leading global medical technology, pharmaceutical diagnostics, and digital solutions provider, said as a part of the investment, its 'Made in India' PET CT Discovery IQ scanner will be exported to 15 countries. Additionally, locally produced Revolution Aspire CT, Revolution ACT and MR breast coils will be manufactured 'In India for the World', the company said in a statement. The strategic investment bolsters the company's local manufacturing footprint to address the growing domestic and international market. It will also build supply chain resiliency for the organisation, it added. Wipro GE Healthcare Chairman Azim Premji said India is riding the resurgent growth in the healthcare industry and rapidly expanding MedTech sector. "With 'Make in India', we are witnessing an exponential .

A M Naik family office invests in medtech firm S3V Vascular Technologies

The Series B funds raised from Naik and other investors would be used to set up a state-of-the-art integrated manufacturing facility for neurovascular devices in Karnataka

Panel formed to administer pricing reforms for drugs, medical devices

Centre constitutes Committee for reforms in pricing framework for drugs and medical devices

Hindustan Syringes launches Dispojekt to reduce needle stick injuries

Company aims to capture 60-70% of disposable syringes market in India

Meril Life Sciences eyes 5-fold revenue growth over the next 5 years

Currently, 55 per cent of Meril's revenue comes from its international business, through its presence in over 150 countries and subsidiaries in more than 25 nations such as Germany, Russia and Brazil

Cabinet approves memoranda on health products with Netherlands, Ecuador

The Union Cabinet Thursday approved separate memorandum with the Netherlands, Dominican Republic and Ecuador on cooperation in the field of medical products regulation, an official statement said. The cabinet chaired by Prime Minister Narendra Modi was apprised of the three Memoranda of Understanding (MoU) which were signed between the Health Ministry's Central Drugs Standard Control Organisation (CDSCO) and the respective regulatory authorities of the three countries. The MoU between the CDSCO and the Directorate General for Medicine, Foods and Sanitary Products Organizations of Ministry of Public Health and Social Assistant of Dominican Republic was signed on October 4 last year. Issues of substandard and falsified medicines moving in the international markets, and interaction amongst regulatory agencies are facilitated through the MoU, it stated. Convergence in the regulatory practices could help increasing export of medicines from India and consequentially create employment ...

Imports of medical devices rise 21% till October to Rs 61,262.84 cr

Imports from the US grew by 33 per cent, followed by Germany at 27 per cent and the Netherlands at 20 per cent

Government orders new drug-making standards after overseas deaths

The health ministry said in August that inspections of 162 drug factories since December 2022 found an 'absence of testing of incoming raw materials'

'Govt to increase exports of 10-11 sectors from $160 bn to $500 bn by 2030'

The government is working on boosting domestic manufacturing and increasing exports to USD 500 billion by 2030 from 10-11 sectors, including automobiles, pharma, textiles, medical devices and chemicals, a senior official said on Thursday. These issues were discussed during a meeting called by the Commerce and Industry Ministry on Thursday. The meeting was convened by the Department of Promotion of Industry and Internal Trade (DPIIT) in collaboration with Invest India and SCALE (Steering Committee for Advancing Local Value-Add and Exports) Committee to unveil outcomes and recommendations made during the Chintan Shivir for Manufacturing, held on October 12 at Bharat Mandapam here. The 11 sectors are auto components, automobiles (including EVs), capital goods, chemicals, drones, medical devices, aerospace and defence, leather and footwear, textiles, and space. "We are looking at investments in these sectors. We will drill down to each of the areas to see how to promote manufacturing