Page 8 - Pharma Companies

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

Lupin Q3 results: Net jumps 300% to Rs 613 cr on back of record sales

Nilesh Gupta, MD, Lupin Limited said, "We delivered our highest quarterly sales to date, crossed the Rs 5,000 crore mark for the first time, driven by strong growth across geographies."

Cipla eyes acquisitions, inorganic partnerships in US, European markets

Drug major Cipla is eyeing acquisitions and inorganic partnerships in the US market while consolidating its presence across segments in the domestic market. The Mumbai-based company is also looking to improve the top line in Europe and margin expansion in South Africa. "Product launches through delisting strategy and as well as inorganic partnerships and acquisitions will remain one of our key priorities for the US market," Cipla Global Chief Financial Officer Ashish Adukia said in an analyst call. The drug maker would also focus on commercial execution of existing portfolios and resolution of USFDA observations, he added. In the South African market, Cipla would build on its performance aided by growth in private and select tender business with greater emphasis on margin expansion, Adukia stated. "In emerging markets and Europe, top priority is to improve top line while margins are maintained at sustainable levels," he said. As per the yearly trend, the fourth quarter will have

Torrent Pharma Q3 results: Profit after tax up 51% at Rs 443 crore

Torrent Pharmaceuticals' share price rose by 0.51 per cent, ending the day's trade at Rs 2,524 apiece on the Bombay Stock Exchange (BSE)

Sun Pharma Q3 results: Net profit up 16.5% at Rs 2,524 cr on US, India biz

Bloomberg analysts' estimates had pegged the revenue at Rs 12,336 crore and PAT at Rs 2,470 crore

Slow improvement in sales could weigh on pharma firm Laurus' performance

Company reported lower-than-expected revenue after missing target in key segment

48% of healthcare, pharma firms to use Gen AI solutions in 1 year: Report

Nearly 48 per cent of healthcare and pharma companies surveyed are poised to integrate first-gen AI solutions within one year, an EY report said on Wednesday. The shift is, however, significant in the sector, which has been traditionally conservative in adopting digital technologies, it added. The findings also underline the growing appeal of this emerging technology that has made headlines with its promise of transforming industries. The EY report insights revealed that in healthcare, Gen AI holds the promise of benefiting every facet of the value chain, from clinical services to customer operations and branding. Similarly, in life sciences, the potential of Gen AI applications is poised to expedite the assimilation of cutting-edge technologies across the value chain. According to the report, 60 per cent of survey participants from the healthcare and life sciences sector believe Gen AI will have a significant impact on the entire value chain. "While 28 per cent of healthcare and

Lupin secures a tentative USFDA approval for Rivaroxaban tablets

Lupin boasts 15 manufacturing sites, 7 research centres, and a global team of more than 20,000 professionals

Serum Institute joins CEPI network to make vaccines for disease outbreaks

$30 mn invesment will expand company's ability to swiftly supply investigational vaccines for the Global South

Q3 result preview: US, India to aid revenue growth for Pharma Inc

In the healthcare segment, hospitals are expected to post revenue growth of 13 percent during the coverage, while the net profit growth would be around 37 percent, ICICI Securities said in a note

Moderna sales beat estimates at $6.7 bn last year on rising vaccine share

The company said Monday it still expects revenue to fall sharply this year to about $4 billion. It forecasts a return to sales growth in 2025 and to break even the following year

Mefenamic acid can have adverse reactions; govt issues drug safety alert

The Indian Pharmacopoeia Commission (IPC) states that painkiller Meftal can cause adverse reactions, including drug reactions with eosinophilia and systemic symptoms (DRESS) syndrome

Warning Letter for Pithampur SEZ facility remains an overhang for Cipla

While some brokerages believe that the issue could escalate and be detrimental for Cipla, others believe that the Warning Letter was on expected lines and the impact may not be meaningful

Lupin announces launch of world's first FDC drug for chronic lung disease

Lupin Vilfuro-G is the only FDC that uniquely combines Vilanterol, Fluticasone Furoate, and Glycopyrronium Bromide for the long-term management and treatment of moderate to severe COPD

Pharma firm asked to stop production after death of 11 in fire at its plant

Pharmaceutical firm Blue Jet Healthcare has been ordered to stop production and remove inflammable chemical goods from its premises after a fire in its factory in Maharashtra's Raigad district killed 11 labourers early this month, said the local administration on Wednesday. The action has been taken by the district administration on recommendation of the Maharashtra Pollution Control Board (MPCB)'s Raigad unit. Eleven workers were killed and seven others injured when a fire broke out at the company's plant in the Mahad MIDC area on November 3. The company has been ordered to stop production and remove inflammable chemical goods from its premises within a period of 72 hours, according to a notice issued by Deputy Collector (Mahad) J S Hajare. In a separate action, the Deputy Collector has asked two companies -- Sanika Chemical and V N Creative -- to stop production for causing water pollution, leading to large-scale death of fish in a drain. On November 9, thousands of fish ...

Pharma company Laurus Labs acquires 87.59% stake in Laurus Bio Private

The acquisition was made through a secondary purchase from the promoter group shareholders of Laurus Bio on November 20, 2023

Eris Lifesciences Q2 results: PAT at Rs 123.4 crore, revenue up 9.7%

On a sequential basis, the company exhibited an 8.29 per cent increase in revenue, along with a PAT which rose 30.17 per cent