Page 9 - Pharma Companies

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

Cipla Q2 results: Profit surges 43% to Rs 1,131 crore on strong US sales

Cipla beat Bloomberg estimates which had pegged revenues at around Rs 6,490 crore and net income at Rs 984 crore

Solara Active appoints PV Raghavendra Rao as chief financial officer

Rao is a chartered accountant from the Institute of Chartered Accountants of India (ICAI) and has about two and half decades of post-qualification experience

AI startup Leucine gets $7 mn funding from Ecolab Inc, angel investors

Leucine's platform can be rolled out in as little as eight weeks, thanks to its proprietary AI-enabled digital process builder

BioTek CEO agrees to pay $20 million to settle kickback allegations

A speciality pharmacy company in the US and its Indian-origin chief executive officer have agreed collectively to pay USD 20 million to resolve allegations that they paid kickbacks to patients and physicians to protect its revenue stream, the justice department said. BioTek allegedly provided improper physician inducements and covered up kickbacks for patient referrals by waiving co-pays, said US Attorney Jacqueline C. Romero for the Eastern District of Pennsylvania. "BioTek's alleged scheme, orchestrated and implemented by Chaitanya Gadde, Dr David Tabby, and others, to routinely waive these copays -- without regard for whether the patients were experiencing financial hardship -- ensured a steady revenue stream for BioTek and undermined patient care to citizens of this District," Romero said in a statement. When a Medicare beneficiary obtains a prescription drug covered by Medicare, the beneficiary may be required to make a partial payment, which may take the form of a copayment, .

Schedule M likely to be revised to bring it closer to WHO standards

The draft rules, still under consideration, include provisions to strengthen quality control and the safety of drugs manufactured in India

Done and delivered by drone: Pharma companies chart a new course

The industry is taking the lead in using the devices and a wider business use is expected soon

WHO's good manufacturing norms to be made compulsory for all drug firms

Only 2,000 of the 10,500 manufacturing units in the country have the World Health Organization's GMP certification

Torrent pharma in advance talks with CVC Capital to buyout Cipla promoters

Torrent had reached out to several private equity (PE) funds, including Bain Capital to secure the necessary funds to buyout the promoter family of Cipla

Strides Pharma Q1FY24 results: Net profit at Rs 8 cr; revenue up 12%

The total income for Q1FY24 came in at Rs 486.9 crore, compared to Rs 430.6 crore year-on-year

Big pharma firms shift tack, look to bet on trade generics as volumes dip

It is the fastest growing segment in IPM with a 25% CAGR

Dr Reddy's Labs Q1FY24 results: Net profit up 18% YoY to Rs 1,402.5 cr

As compared to Rs 959.2 crore in the quarter that ended on March 31, the net profit was up 46%

Delhi HC restrains Cipla from using Gluco-C or Gluco-D trademarks

Zydus argued that Cipla started branding its Glucose product under Gluco C ++ and Gluco D ++, in order to create confusion in the minds of customers

'4IR': The booster pharma majors are taking to improve productivity

Large manufacturers are leveraging new-age technologies and advanced analytics to improve productivity and reduce deviations in production processes

Crackdown on FDCs continues, latest ban to affect Rs 824 cr market: Study

72 pharmaceutical companies have brands that fall under banned FDCs, says one expert

Pharma firms may soon be required to mention excipients on medicine strips

As of now the labels on medicines only declare active substances, which are added to the formulation

Pharma major Lupin receives approval from US FDA for diazepam rectal gel

Diazepam Rectal Gel had estimated annual sales of $34 million in the US

Mankind Pharma IPO opens today: Check GMP, price band, other details here

Mankind Pharma IPO listing date: The IPO is likely to list on NSE and BSE on May 8

Govt to meet e-pharmacy firms soon to address regulations concerns

Senior government sources indicated that the government is in favour of e-prescription, but wants to tread cautiously when it comes to e-pharmacies, given the wider implications