Page 6 - Pharma Companies

US pharma major Eli Lilly to establish second Indian GCC in Hyderabad

Company plans to employ 1,000-1,500 skilled professionals; GCC to focus on automation, AI

Eli Lilly to set up global capability centre in Hyderabad, hire 1K people

Pharma major Eli Lilly and Company on Thursday said it plans to establish a new global capability centre in Hyderabad and hire over 1,000 people to strengthen its digital strategy and service delivery. The Hyderabad global capability centre (GCC) will be known as Lilly Capability Centre India (LCCI) Hyderabad and will initially focus on expanding Lilly's capabilities in automation, artificial intelligence, software product engineering and cloud computing to deliver advanced technology solutions that meet the evolving needs of Lilly's business worldwide, the Eli Lilly and Company (Lilly) said in a statement. Lilly will be recruiting more than 1,000 highly-skilled team members to strengthen the company's digital strategy and service delivery, it added. The company further said it plans to employ around 1,000 to 1,500 highly-skilled professionals including technology engineers and data scientists. Recruitment for the new site is underway, and the centre is expected to be operational b

Granules India focused on getting FDA nod for drug from Gagillapur by FY26

It had voluntarily paused production in September

Here's why Alembic Pharma was buzzing in trade on December 20, details here

Alembic Pharma share rose after the company announced that it has received final approval from the USFDA for its ANDA Divalproex Sodium Delayed-Release Capsules USP, 125 mg

Nomura's upgrade to 'Buy' lifts Dr Reddy's share over 4% in weak market

The northward move in Dr Reddy's share price came after Tokyo, Japan-based brokerage Nomura upgraded the stock to 'Buy' from 'Neutral'

Piramal Pharma up 7% as JM Financial initiates with 'Buy'; 36% upside eyed

The uptick in Piramal Pharma share price came after domestic brokerage JM Financial initiated coverage with 'Buy' for a target price of Rs 340

Piramal Pharma to pay $407,400 to US-based VetDC Inc to settle dispute

Piramal Pharma on Friday said it will pay USD 407,400 to US-based VetDC, Inc to settle a dispute over rejected batches of a product. Piramal Pharma Solutions Inc, a unit of the company, and VetDC, Inc have entered into a settlement agreement for an amount of USD 407,400, the drug maker said in a regulatory filing. VetDC had claimed damages on account of rejection of certain batches of product manufactured and supplied by Piramal Pharma Solutions Inc. "While the company continues to believe that its legal stand is appropriate against claims made by VetDC and maintains that it has defence to VetDC's claims of liabilities and damages, in order to solely avoid continued legal costs and uncertainties of protracted litigation, the Company and VetDC have both decided to settle," Piramal Pharma said. The company shall have no responsibility for any other costs beyond the amount of USD 407,400, it added. "This settlement will not have a significant impact on the financial position of the .

Big Pharma's bet on China biotech a rare trade bright spot amid tensions

Chinese biomedical research is on the cusp of a breakthrough just as the industry starts to face serious headwinds

One dead, nine hospitalised in gas leak at pharma company in Andhra Pradesh

District Fire Officer said that one person died, and nine others are under treatment after inhaling toxic gas that leaked at Tagore Pharma in Paravada, in Anakapalli district, Andhra Pradesh

Glenmark Pharma Q2 profit rises on strong India business performance

The company also reported a 14.6 per cent rise in revenues in the European market to Rs 687.4 crore, while recording a 1.2 per cent revenue drop in the North America market

Akums Drugs tanks 10%, falls below issue price on weak Q2 earnings

In two days, the stock price of Akums Drugs has declined 19% to Rs 645.30 and fallen below its issue price of Rs 679 per share.

Pharma major Cipla not in the pink of health; growth challenges galore

Brokerages slash target price after subdued Q2 show

Torrent Pharmaceuticals promoters sell 3% stake, raise Rs 3,087 crore

Torrent Group was actively pursuing the acquisition of Cipla and JB Chemicals and Pharmaceuticals but ultimately withdrew due to high valuations demanded by the sellers

Biocon Q2 FY25 results: Net profit declines 84% to Rs 27.1 crore

Revenue driven by gains from US Oncology and Insulins franchises

NPPA asks pharma manufacturers to cut price of 3 anti-cancer drugs

The government has asked the companies to reduce prices of three anti-cancer drugs to pass on the benefit of customs duty exemption and GST reduction to the consumers. In line with the government's commitment to ensure the availability of drugs at affordable prices, the National Pharmaceutical Pricing Authority (NPPA) has issued an office memorandum directing the concerned manufacturers to reduce the MRP on three anti-cancer drugs, Trastuzumab, Osimertinib and Durvalumab. This is in pursuance to the announcement made in the Union Budget for the year 2024-25 exempting these three anti-cancer medicines from customs duty, the Ministry of Chemicals and Fertilisers said in a statement. The Department of Revenue, Ministry of Finance, issued a notification dated July 23, this year reducing the customs duty to nil on the three drugs. "Accordingly, there should be a reduction in MRP of these drugs in the market and benefits of reduced taxes and duties should be passed on to the consumers,"

Piramal Pharma deploying $85 mn capex this fiscal: Nandini Piramal

Piramal Pharma is utilising a capex of about USD 85 million for various initiatives, including capacity expansion, maintenance and de-bottlenecking of CDMO sites, in the current fiscal, according to its Chairperson Nandini Piramal. The Mumbai-headquartered firm, which aims to cross USD 2 billion in revenue by FY30, has already invested around USD 30 million in the first half of the ongoing fiscal on the initiatives. "We expect the capex this year to be at a similar level as last year, which is about USD 85 million," Piramal told PTI in an interaction. A part of the capex is planned for the domestic market while some of it would also go into the US business, she added. "Some part of it, around USD 30 million, is maintenance capex, and the rest would go into capacity expansion in Telangana and Dahej (Gujarat) plants and also towards de-bottlenecking of some of the CDMO sites," Piramal noted. The company last week reported over four-fold increase in consolidated net profit at Rs 23 c

Sun Pharma gains 3%; hits new high on UBS 'Buy' rating, sees more upside

UBS has a target price of Rs 2,450 on Sun Pharma and expects it to record the highest growth in the near-term and the medium-term via a ramp-up of the specialty drug pipelline.

Indian pharma sector set for 8-10% growth this fiscal: CRISIL Ratings

The sector is expected to benefit from steady cash flows and low financial leverage, which will help maintain stable credit profiles, even as pharma cos pursue acquisitions in niche therapeutic areas

Granules tanks 16% on concerns over 6 observations issued by US FDA

More than 31 million equity shares, representing 12.89 per cent equity of the pharmaceutical company, had changed hands on the NSE till 02:08 PM.

Strides Pharma gets shareholders' nod to set up speciality pharma CDMO

Strides Pharma Science on Wednesday said it has received approval from shareholders and secured creditors for creation of OneSource -- a specialty pharma CDMO (contract development and manufacturing organization). The company has secured the approval of its shareholders and secured creditors with overwhelming majority, along with those of OneSource Specialty Pharma and SteriScience Specialties, in meetings convened under the guidance of the National Company Law Tribunal, it said in a regulatory filing. All the secured creditors who voted on the scheme for the three companies in their respective meetings were in favour of the scheme, it added. "We believe OneSource will unlock considerable value for Strides' stakeholders upon its listing. We remain committed to delivering on this promise and express our gratitude to our shareholders and creditors for their continued trust and support," Strides Pharma Science Executive Chairperson Arun Kumar said. In September 2023, Strides announced