Page 4 - Medical Devices

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

Prolonged approval processes impact India's medical devices exports: GTRI

Prolonged regulatory approval processes in the UK impact India's exports of medical devices to the British market, think tank GTRI said on Wednesday. To promote exports of these devices, it said, India should negotiate a Mutual Recognition Agreement (MRA) to expedite the entry of these equipment into the UK market, particularly for devices with CDSCO (Central Drugs Standard Control Organisation ) licence or Quality Council of India's Indian Certification of Medical Devices (ICMED) certification. The MRA would reduce regulatory compliance and audit requirements, potentially enhancing India's exports, Global Trade Research Initiative (GTRI) Co-Founder Ajay Srivastava said. The suggestion assumes significance as both the countries are negotiating a free trade agreement and this sector is an important part of that. The existing zero import duties on medical devices in the UK imply no direct tariff-related advantages for India under the FTA, it said. This means, India's medical devices

Rules of origin for medical sector remains sticking point in India-UK FTA

Finalising the rules of origin for the medical devices sector remains a sticking-point in the proposed free-trade agreement (FTA) between India and the UK and the talks are on to iron out the differences, an official said. Huge potential is there in the medical devices sector in India, as it imports about 80 per cent of its requirement, with the US, Germany, China, Singapore and Netherlands being top exporters of such devices to the country. "In the medical devices sector, a lot of issues related to rules of origin are still there. Demand for customs duty concessions is also there," the official said, adding negotiations are going on between the two countries to resolve the differences in both goods and services sectors. The government has taken steps to promote domestic manufacturing of medical devices/equipment and attract large investment in the sector. Such schemes/initiatives include Promotion of Medical Device Parks, National Biopharma Mission, and a production-linked Incentiv

L&T Tech, NVIDIA to unveil Gen AI & advanced software for medical devices

This collaboration provides a complete solution for customers looking to transition to a software-defined business model via real-time AI applications

Guwahati Refinery, Tata Cancer Care ink MoU for special medical equipment

The Guwahati Refinery on Friday signed a Memorandum of Understanding (MoU) with the Tata Cancer Care Foundation for providing special medical equipment to Silchar Cancer Centre in Assam. Under the agreement, Guwahati Refinery will extend a financial support of Rs 16.39 crore for procuring medical equipment like LINAC for delivering external beam radiation therapy, treatment planning system-computer based software system used in radiation oncology, dosimetry and immobilisation devices, a release said. G K Goyari, Chief General Manager and Refinery Head expressed happiness to be a part of the collaboration, and hoped that the support would further help cancer patients of the northeast region in availing affordable treatment. Silchar Cancer Centre is located on the Silchar Medical College and Hospital campus, and caters not only to patients of Assam but those from Tripura, Mizoram and parts of Meghalaya as well, the release added.

CDSCO gives 6-month extension to medical device manufacturers for imports

Under the new regulation, medical devices under' class C' and 'class D' cannot be sold without a manufacturing licence after October 1

Medical devices lobby seeks 6-mth extension to come under licencing regime

Medical devices are divided into four classes, based on the level of risk they pose

We approved investment of Rs 6,000 cr under PLI scheme for pharma: Shah

The Centre has approved investment of Rs 6000 crore to 74 industries in the pharmaceutical and medical device manufacturing sectors under the production linked incentive (PLI) scheme, Union Home Minister Amit Shah said here on Saturday. Shah was addressing a gathering after dedicating the newly built campus of the National Institute of Pharmaceutical Education and Research (NIPER) at Gandhinagar. "The Union government has taken a holistic approach and begun the process for the development of a cost-effective, sustainable and affordable process for 16 APIs (active pharmaceutical ingredient) and two KSMs (key starting material)," he said. In the next one decade, India will not just become self-reliant but also be in a position to export them (APIs and KSMs), Shah added. "The Narendra Modi government has given permission for the investment of Rs 4000 crore to about 48 small and big industries in the sector of pharmaceutical manufacturing under the PLI scheme," Shah said. The PLI sche

HC upholds Centre's decision to include all medical devices as drugs

The Delhi High Court has upheld the Centre's decision to include all medical devices within the ambit of "drug" under the law regulating drugs and cosmetics. A bench headed by Justice Rajiv Shakdher rejected petitions by the Surgical Manufacturers and Traders Association challenging the central government's 2018 and 2020 notifications first declaring four medical devices as drugs under the Drugs and Cosmetics Act, and then spreading the net to cover all medical devices. The court said the decision to include all medical devices as drugs was a policy matter and no case for interference was made out as there was no arbitrariness or unreasonableness. MHFW (Ministry of Health and Family Welfare), in its wisdom, thought it fit to bring all medical devices within the ambit of the expression 'drug '. This is clearly a policy matter, the bench, also comprising Justice Tara Vitasta Ganju, said in a recent order dated September 1. To our minds, there is no manifest arbitrariness or ...

Planning to open manufacturing facility in Russia soon: Trivitron Group CEO

Apart from our joint venture in Russia, we are investing heavily in the US, where we already have infrastructure, including factories and R&D setups, said Ganjoo

Health ministry proposes separate post for medical devices controller

Specific provision for recall of drugs and devices; penal provisions for substandard drugs