Page 14 - Pharma Industry

Alembic Pharma Q3 results: Profit up 48% as raw material cost declines

This increase in PAT was attributed to tax deduction, decline in the cost of materials consumed, and improvement in Ebitda

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

Sun Pharma Q3 results: Net profit increases 15% at Rs 2,524 crore

Sales in its US formulations business rose nearly 15 per cent to Rs 3,974 crore, while sales from its India formulations rose more than 11 per cent to Rs 3,779 crore

Pharmeasy FY23 losses widen 31%, revenue increases 16% to Rs 6,644 cr

Online pharmacy dropped plan for an IPO in 2022, says it is cutting down expenses

Breather for consumers as drug prices likely to remain same this year

In previous two years, hikes were in the range of 10-12%

Indian firms corner more of growing pharma market as MNCs go niche

Indian drug firms are focussing on expanding their salesforce and distri­bution, while getting into trade generics to garner volumes

Govt committed to transform healthcare landscape: Health minister Mandaviya

The government is committed to transform the country's entire healthcare landscape, Health Minister Mansukh Mandaviya said Wednesday, highlighting that this dispensation opened several new AIIMS, raised the number of medical colleges to almost double and operationalised more than 10,000 Jan Aushadhi Kendras. He was speaking after virtually inaugurating a Super Specialty Block at Ganesh Shankar Vidyarthi Memorial Medical College in Kanpur, Uttar Pradesh. He also laid the foundation stone of an All India Institute of Speech and Hearing (AIISH) Satellite Centre in Kanpur. "This Super Specialty Block offering 12 super-specialty services will help people take these specialised services locally, saving their valuable time and resources," he said. On the AIISH Centre in Kanpur, he said it will be the first such state-of-the-art centre in North India which will not only train doctors but also provide care to people. It is the dream of Prime Minister Narendra Modi that AIISH institutes be .

Countries risk missing May deadline for pandemic accord, says WHO chief

Only once before in the organisation's 75-year history has the WHO managed to agree such an accord, and that was a Tobacco Control treaty in 2003

India moving towards integrated medicine approach with Ayush: Sonowal

Union Minister Sarbananda Sonowal on Saturday said the country is moving towards an integrated approach where the Ayush system of medicine will be used along with the modern ones. The minister also laid the foundation stone for Ayush Diksha', a first-of-its-kind centre for the development of human resources for ayush professionals in future. The centre will be developed on the campus of Central Ayurveda Research Institute, Bhubaneswar. Sonowal also asserted that the Ayush movement has "gained a lot of prominence" in the last 10 years. We are moving towards an integrated medicine approach where an empowered Ayush system of medicine will also be used along with the modern medicine system," the minister said. The integrated medicinal approach will prove as a "boon for the people of the country" as they can move towards healing their ailments as well as enriching their quality of life by empowering their physical and mental well-being, the minister said. Sonowal, the minister of Ayus

Doctors should be careful of mefenamic acid's effects: Meftal makers

In the backdrop of a caution by the Indian Pharmacopoeia Commission (IPC) against mefenamic acid, a major component of painkiller meftal, the medicine's manufacturer on Tuesday said the alert seeks to advise doctors and patients to monitor the possibility of an adverse reaction of the drug. "The alert issued by IPC was to advise doctors and patients to monitor the possibility of an adverse drug reaction of mefenamic acid, which does not in any way impact the safety, efficacy and high quality of the brands that are established and supported by clinical studies," Blue Cross Laboratories, which makes meftal and meftal-spas, said in a statement. The IPC on November 30 had issued an alert on mefenamic acid stating that a preliminary analysis of adverse drug reactions from the Pharmacovigilance Programme of India (PvPI) database revealed drug reactions with eosinophilia and systemic symptoms (DRESS) syndrome. "Healthcare professionals, patients/consumers are advised to closely monitor th

Aster considering to pay 70-80% of $903 mn Gulf demerger money as dividends

The company said on Monday it plans to use the proceeds to pay shareholders between 110 rupees and 120 rupees per share as dividends

Pharma industry seeks incentives for R&D, conducive policies in Budget

The pharma industry has sought fiscal incentives to promote research and development (R&D) in the sector, as it is likely to reach USD 400-450 billion market size by 2047. In a statement, Indian Pharmaceutical Alliance Secretary General Sudarshan Jain said there is a high risk, long gestation period and low success rate in research, and therefore, there is a need for continuous investments. "The budget 2024-25 should outline conducive policies that provide benefits in terms of both direct and indirect taxes and also facilitate ease of doing business for the pharma companies," Jain noted. The interim Budget is scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1. Jain said the domestic pharma industry is at the cusp of change. "The Indian pharma sector aims to achieve USD 120-130 billion by 2030 and USD 400-450 billion by 2047. To achieve this vision, the Union Budget 2024-25 should accelerate the pace of innovation and R&D," he added. The announcement

Drug firm Lupin introduces smoking cessation generic product in US market

Drug firm Lupin on Wednesday said it has launched a product, used as an aid to smoking cessation treatment, in the US market. The company has launched Varenicline tablets in strengths of 0.5 mg and 1 mg, after having received approval from the US Food and Drug Administration (USFDA), the Mumbai-based drug maker said in a regulatory filing. The company's product is the generic equivalent of PF Prism CV's Chantix tablets, it added. It is indicated for use as an aid to smoking cessation treatment. As per the IQVIA data, Varenicline tablets had estimated annual sales of USD 412 million in the US. Shares of the company were trading 0.75 per cent up at Rs 1,406.50 apiece on the BSE.

Implementing revised Schedule M rules uphill task for small pharma

Analysts also feel this move will help improve quality of Indian drugs

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'

Indian-American medical biller held for stealing more than $1 million

A 61-year-old Indian-origin medical biller has been arrested for stealing more than USD 1 million from doctors who provided medical care to injured workers in New York, according to the Attorney General's Office here. Amrish Patel and his two companies -- Medlink Services and Medlink Partners -- were charged on Wednesday with 27 felony counts for the thefts they allegedly committed from January 2012 through January 2019, New York Attorney General Letitia James announced. Patel and the companies were charged with one count of insurance fraud in the first degree, one count of grand larceny in the first degree, one count of grand larceny in the second degree, one count of grand larceny in the third degree, one count of scheme to defraud in the first degree, 11 counts of falsifying business records in the first degree and 11 counts of workers' compensation fraud. He was released with electronic monitoring and a USD 100,000 bond, according to the New York Attorney General's Office. Pate

DCGI bans all charges, except supply, processing costs on blood units

An advisory issued by the DCGI to all states and Union Territories, read that "blood is not for sale", it's only for supply and that only processing costs may be charged by the blood centres

Sub-standard drugs: Delhi minister seeks suspension of health secretary

Health Minister Saurabh Bharadwaj on Friday recommended to the Lt Governor and the Centre the immediate suspension of the health secretary over the supply of "sub-standard" drugs to Delhi government hospitals. He also demanded strict action against the former director general of the Directorate General Of Health Services (DGHS). Addressing a press conference here, Bharadwaj said Lieutenant Governor V K Saxena has not taken any firm action against the officials concerned. He said upon assuming office in March 2023, he ordered an audit of medicines, equipment, and consumables but despite his repeated reminders to the health secretary, no action was taken. "The health secretary did not take any notice of this and did not initiate any audit related to the procurement of medicines," the minister claimed. Bharadwaj said in July, he sent a reminder to the senior official questioning why the orders had not been implemented and why there had been no audit of medicines and other items purch

Investments worth Rs 25,813 cr made under pharma PLI as of Sep: Govt

Investments worth Rs 25,813 crore have been made and 56,171 new jobs were added as of September this year under the production-linked incentive scheme for pharmaceuticals, the government said on Friday. In its year-end review, the Department of Pharmaceuticals (DoP) also said the 'Pradhan Mantri Bhartiya Janaushadhi Pariyojana' achieved its target of opening 10,000 retail outlets in 2023 to provide quality generic medicines at affordable prices to the poor and underprivileged. The production-linked incentive (PLI) scheme for pharmaceuticals is being implemented with an objective of enhancing India's manufacturing capabilities by increasing investment and production in the sector and contributing to product diversification to high value goods in the pharmaceutical sector. The total outlay of the scheme is Rs 15,000 crore and the scheme duration is from 2020-2021 to 2028-29, an official statement said. Under the Scheme, 55 applicants have been selected, which includes five applicants