Page 15 - Pharma Industry

Medicines for four rare diseases become cheaper due to domestic production

Medicines for four rare diseases have become available at drastically cheaper rates as Indian pharma companies are now producing them reducing the reliance on expensive imported formulations, Union Health Ministry officials said on Friday. The slashing of prices comes as the ministry has prioritised action related to 13 rare diseases along with sickle cell anaemia. Drugs for four of these diseases -Tyrosinemia Type 1, Gaucher's Disease, Wilson's Disease and Dravet-Lennox Gastaut Syndrome - along with sickle cell Anemia have been approved and are being manufactured indigenously. Four more drugs for three diseases - Tablet Sapropterin for Phenylketonuria, tab Sodium Phenyl Butyrate and tablet Carglumic Acid for Hyperammonemia and Capsule Miglustat for Gaucher's disease - are under process for approval and are likely to be available by April 2024, official sources said. With these drugs being manufactured indigenously, the annual cost of Nitisinone capsules, used in the treatment of .

Aurobindo Pharma subsidiary receives USFDA approval for Ryzeneuta

It helps to enhance the immune function of cancer patients and prevent the side effects of neutropenia caused by chemotherapy

1,500 exhibitors to participate in pharma expo from Nov 28 in Greater Noida

Around 1,500 exhibitors will showcase their more than 10,000 products at a pharmaceutical B2B event, CPHI & PMEC India Expo, to be held from November 28 to 30 at Greater Noida, organisers said on Monday. Informa Markets said the expo will bring together over 45,000 visitors, 1,500 exhibitors showcasing 10,000 plus products and provide a unique environment for industry experts to meet, learn, share ideas and drive their business forward.. The 16th edition of CPHI & PMEC India Expo will be held at the India Expo Mart and Centre in Greater Noida. The event, along with its ancillary programmes, spotlights technological strides pivotal in propelling India's pharmaceutical machinery, technology, and ingredients sectors, it added. The Indian pharmaceutical industry, on the brink of significant expansion, eyes a projected CAGR of 13 per cent, eyeing a market value of USD 102.7 billion (Rs 8.5 lakh crore) by 2028, according to a statement. "In 2023, the Indian pharma industry is ...

Pharma majors turn attention to OTC drugs in post-pandemic wellness shift

Building a healthy OTC brand, however, is not an easy task. OTC brands need time to grow and build a recall value once they have established some credibility

Industry has potential to grow to $200 bn in value by 2030: Pharma Secy

The domestic pharmaceutical industry has the potential to grow by 4-5 times to around USD 200 billion in value terms by scaling up manufacturing and enhancing exports, a senior government official said on Friday. He noted that to reach a size of USD 200 billion by 2030 from around USD 50 billion currently, the industry needs to grow in double digits year-on-year while reducing dependence on imports and focussing on expanding exports. "The age of smart medicine is dawning upon us. The new therapies that will come to the fore in the next 20 to 30 years would deliver smart therapies virtually for every difficult illness that we know of today. We have to be ready for that age. We have to prepare for that age," Department of Pharmaceuticals Secretary Arunish Chawla said at a CII event here. He said the government is helping the industry with various policy initiatives, including production-linked incentives. "At USD 50 billion in 2020, we were a little over 10 per cent of our manufactur

Alembic Pharmaceuticals' revenue surges 8.17%, PAT up 3.21% in Q2FY24

The API business reported a 10 percent growth in revenues, reaching Rs 322 crores in the quarter

Tata Capital PE plans to invest over Rs 400 cr in healthcare, senior care

This investment would be made out of the second fund (TCHF II), which has a corpus of about $130 million

Sun Pharma and Zydus Lifesciences partner to market kidney drug Desidustat

Under this licensing agreement, Zydus has granted Sun Pharma semi-exclusive rights to co-market Desidustat in India

Zydus, Sun Pharma ink licensing pact to co-market CKD treatment drug

Zydus Lifesciences on Monday said it has inked a pact with Sun Pharma to sell in the country an oral treatment medication for anemia associated with chronic kidney disease (CKD). The companies have entered into a licensing agreement to co-market the innovative drug, Desidustat, in India, Zydus said in a regulatory filing. Under the terms of the agreement, Zydus has granted Sun Pharma semi-exclusive rights to co-market the product in India, it stated. Sun Pharma will market the drug under the brand name Rytstat, it added. Zydus has launched the drug under the brand name Oxemia in 2022 and will continue to market it in the domestic market. As part of the deal, Zydus will receive upfront licensing income and is eligible to receive milestone income based on achievement of pre-defined milestones, the drug firm noted. "Desidustat which is one of the critical treatment options for CKD patients has substantially improved the patients' quality of life since it is more convenient to take a

Strong profit growth keeps brokerages positive on Torrent Pharma

Led by an 18% y-o-y growth in the domestic formulations segment, which accounts for over half its overall revenues, the company posted 16% growth at a consolidated level

Torrent Pharma Q2 net profit rises 24% to Rs 386 cr on strong demand

Consolidated net profit was Rs 386 crore for the quarter ended Sept. 30, compared with Rs 312 crore a year earlier

Glenmark Pharma launches triple-combination drug for Type 2 Diabetes

Medication will be sold under the brand name Zita DM, will be priced at Rs 14 per tablet

Norris Medicines recalls toxic cough syrups, says only sold in India

Tests by India's Central Drugs Standard Control Organisation showed the medicines were contaminated either with diethylene glycol or ethylene glycol

Manufacturing disrupted at Sikkim plant due to flash floods: Alembic Pharma

Alembic Pharmaceuticals on Wednesday said flash floods in the Teesta River has led to disruption in operations at its Sikkim-based manufacturing plant. "We would like to inform that due to flash floods in river Teesta because of cloud burst, water entered our manufacturing facility at Namthang, South Sikkim, and hence manufacturing operations stand disrupted with effect from October 4," the drug firm said in a regulatory filing. There is no loss or harm caused to any personnel, it said, adding that the assessment of loss will take a while. All assets of the company are adequately insured and necessary intimations have been given to insurance companies, it added. A sudden cloud burst over Lhonak Lake in North Sikkim has resulted in flash floods in the Teesta in Lachen valley, which was compounded by the release of water from a dam. Shares of Alembic Pharma were trading 1.31 per cent down at Rs 780.50 apiece on the BSE.

IQuest Enterprises to acquire active pharma ingredient business of Viatris

Multi-sector investment firm IQuest Enterprises will acquire the active pharmaceutical ingredients (API) business of Viatris in India for an undisclosed amount. The investment firm has entered into a definitive agreement to acquire the API operations of global pharmaceutical major Viatris in India, IQuest Enterprises said in a statement on Monday. IQuest emerged as the preferred investor following a global competitive bid, it added. As part of the deal, the company will acquire six API manufacturing facilities, three each in Vizag and Hyderabad, an R&D facility in Hyderabad, and third-party API sales. "We are excited about our largest investment in the pharmaceutical sector till date. Our investment comes at an opportune time when India is drawing significant attention amongst the global pharma industry," IQuest Enterprises Executive Director Gunupati Swathi Reddy noted. IQuest Enterprises is a multi-sector investment company. It has invested in various entities like AIG ...

Advent International announces new board, mgt team of Suven Pharmaceuticals

Global private equity firm Advent International on Friday announced a new board and management of Suven Pharmaceuticals after completing the acquisition of a majority stake in the domestic drug maker. Suven Pharma will be led by a management team comprising Annaswamy Vaidheesh (Executive Chairman), Dr V Prasada Raju (Managing Director) and Dr Sudhir Kumar Singh (Chief Executive Office), Advent International said in a statement filed on BSE by Suven Pharma. In terms of the Board of Directors, along with Vaidheesh and Raju, Pankaj Patwari, Managing Director at Advent, will also join the team, it added. Suven will also have three independent directors - - K.G Ananthakrishnan, Ex-MD MSD India and Ex-Director General of OPPI, and Chairman of PNB; Matangi Gowrishankar, Ex-BP Global Head of Capability Development, and Ex-Director of Human resources, Castrol India, Strategic Advisor and Certified coach; Vinod Rao, former head of investor relations at Diageo and ex-CFO PepsiCo Asia ...

Sun Pharma to buyout local partner Indi Pharma in Mexican subsidiary

Sun Pharmaceutical Industries Ltd on Thursday said it will buy out local partner Indi Pharma from its Mexican arm for MXN 161.85 million (over Rs 75 crore). The company has signed a binding letter of intent to acquire the balance 25 per cent outstanding shares of Sun Pharma de Mexico, SA de CV, a subsidiary where it currently holds 75 per cent shares, Sun Pharmaceutical Industries said in a regulatory filing. The balance of 25 per cent is held by local partner Indi Pharma S.A.P.I. de CV, it added. The cost of acquisition is MXN 161.85 million, it added. "The acquisition enables Sun Pharma to acquire the balance 25 per cent stake held by the local partner," the company said, adding it would be done through a wholly-owned subsidiary Sun Pharma (Netherlands) B.V. The acquisition is likely to be completed by October 31, 2023, and after that, Sun Pharma de Mexico SA de CV will become a wholly-owned subsidiary of the company, it said. Sun Pharma de Mexico is engaged in the marketing an

Genpharmasec to acquire 70% stake in DHPL in phased manner over one year

Incorporated in 1992, Generic Pharmasec Limited started as a manufacturer and trader of organic and inorganic chemicals, dyes, and pigments

Drugmaker Biocon appoints Peter Bains as group CEO effective immediately

Bains, who was named as an independent director of the Biocon board in December last year, stepped down on Monday to assume the top charge, the company said in a statement

ICMR releases list of assistive products for individuals with impairments

Breaking barriers for a more inclusive future, the Indian Council of Medical Research (ICMR) has released the National List of Essential Assistive Products (NLEAP) to prioritise essential assistive products towards making a difference in the lives of those with functional impairments. Assistive products (APs) play a pivotal role in enhancing the quality of life and promoting independence among individuals with functional impairments. However, accessing and obtaining these products can pose significant challenges, particularly for the economically-disadvantaged population. The NLEAP is a list of 21 APs and technologies that are deemed essential for individuals with functional impairments to improve their quality of life and participation in the society. The ICMR carried out an extensive exercise to develop the NLEAP in 2020, with inputs from subject experts, end-users, policy makers, non-governmental organisations, manufacturers, academicians, standardisation professionals and ...