Page 7 - Pharma Companies

Regulating the regulators

Govt must strengthen accountability

PE firm ChrysCapital invests $70 million in formulations company La Renon

Peak XV Partners (formerly Sequoia India) has been invested in La Renon since 2015, with A91 Emerging Fund joining in 2021

Entod Pharma receives CDSCO approval to commercialise presbyopia treatment

The company had completed the development of these eye drops in late 2022, after which it was subjected to clinical testing in India

Merck India appoints Dhananjay Singh as MD of its Life Science unit

Over the years, Singh has taken on several leadership roles in commercial organisations such as Sigma-Aldrich and Merck India

Indian pharmaceutical market registers a growth of 9.5% in March 2024

Moving annual turnover of Rs 1.98 tr between April 2023 and March 2024 marked a 6.5% growth, despite a 1% decrease in domestic market volumes

Indian pharma companies bank on 'mother brands' to boost revenue growth

An analysis by market research firm Pharmarack showed how such flagship brands have posted strong growth CAGR in the last five years, with some even doubling sales

Moderna secures $750 mn from Blackstone Life Sciences to develop flu shots

Blackstone Life Sciences will get commercial milestone payments and low-single digit royalties as part of the agreement, the COVID-19 vaccine maker said

Dr Reddy's, Pharmazz ink licence pact to commercialise resuscitative agent

With this agreement, India will become the first global territory where Centhaquin (Lyfaquin) is being launched immediately, according to the company

Entod Pharmaceuticals develops human insulin eye drops to treat corneal eye

Recent research suggests that insulin eye drops can be effective in repairing corneal tissue and treating ocular surface conditions

Govt's new code bars unethical marketing of drugs by pharma firms

Medical representatives barred from using 'inducement' or 'subterfuge' to access healthcare professionals

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

Cadila Pharma launches quadrivalent influenza vaccine 'Cadiflu Tetra'

Cadiflu Tetra is developed employing Nano-sized particles, the Vaccine mimics the external structure of the virus without containing intact genetic material

Portfolio, new launches to help pharma company Abbott India's stock

Firm's revenues were in line with estimates and operational parameters better than expected

Indian sentenced to 20 years jail term over Uzbekistan cough syrup deaths

The Supreme Court of Uzbekistan found Singh Raghvendra Pratap guilty of charges, including tax fraud and forgery, following a six-month long trial in the matter

Zydus Lifesciences announces share buyback of Rs 600 cr; to open on Feb 29

The buyback will open on February 29 and the share repurchase programme will close on March 6, 2024

Moderna reports surprise Q4 profit, sets out road map for RSV vaccine

Moderna recorded $6.8 billion in sales from its COVID vaccine in 2023, down from $18.4 billion in 2022 but slightly above Wall Street estimates of $6.7 billion

Indian pharma cos make versions of Wegovy to get in on weight-loss windfall

Novo has not provided a clear timeline for introducing Wegovy globally, but told Reuters it aims to launch in India in 2026

Earnings downgrade a bitter pill for pharma major Divi's Labs stock

Gross margins improved by 313 basis points on a sequential basis to 60.7 per cent given lower raw material costs and improved product mix

Entero Healthcare's Rs 1,600 cr IPO subscribed 10% on first day of offer

The initial share sale of healthcare products distributor Entero Healthcare Solutions received 10 per cent subscription on the first day of bidding on Friday. The Rs 1,600 crore-Initial Public Offering (IPO) got bids for 6,89,678 shares against 71,50,100 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) got subscribed 45 per cent while the quota for non-institutional investors received 4 per cent subscription. The IPO is a combination of fresh issue of up to Rs 1,000 crore and an Offer For Sale (OFS) of up to 47,69,475 equity shares, aggregating up to Rs 600 crore at the upper end of the price band. Price range for the offer is Rs 1,195-1,258 a share. Entero Healthcare Solutions has collected Rs 716 crore from anchor investors. Proceeds from the fresh issue will be used towards payment of debt, funding working capital requirements, pursuing inorganic growth initiatives through acquisitions and general corporate purposes. ICICI Securities, Dam

Biocon Q3FY24 results: Net profit at Rs 660 crore, revenue up 50%

Biocon's overall growth was boosted by the conclusion of the transition of the acquired business by Biocon Biologics and pre-payment of $200 million towards the acquisition-related debt reduction