Page 15 - Pharma Industry

Pharma industry optimistic, expects more collaborative efforts in New Year

The domestic pharmaceutical industry expects another year of sustained growth in 2024 amid various challenges, including maintaining quality standards, while moving from volume to value leadership. The industry, known for catering to global markets with affordable generic products, expects to further leverage collaborative efforts, invest in Research & Development (R&D) and uphold quality standards to meet the evolving healthcare needs. "The convergence of policy thrust, and India's entrepreneurial vigour will propel the sector's growth and ensure a consistent supply of quality-assured affordable medicines for patients, both in India and globally," Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain told PTI. IPA comprises top domestic pharmaceutical companies, including Sun Pharma, Dr Reddy's Laboratories, Aurobindo Pharma, Cipla, Lupin and Glenmark. Jain said that this year, the government announced various policy initiatives like the Promotion of Research .

JB Chemicals buys opthalmology brands from Novartis for Rs 964 crore

JB Chemicals and Pharmaceuticals shall offer employment to the impacted associates working on this portfolio, it said today. JB Chemicals shares ended on BSE at Rs 1466 apiece, down marginally

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

Sun Pharma revises upwards price to fully acquire Taro to $43 per share

Sun Pharmaceutical Industries on Tuesday said it has revised upwards the price at which it proposed to fully acquire Israel-based Taro Pharmaceutical Industries to USD 43 per share in cash. In May this year, the company announced a non-binding indication of interest to acquire all of the outstanding ordinary shares of Taro for a purchase price of USD 38 per ordinary share in cash through a reverse triangular merger. Subsequently, the company was engaged in multiple rounds of price negotiations with a special committee of the Board of Directors of Taro regarding the proposal. Such negotiations resulted in the company communicating to the special committee updated terms pursuant to which the company has proposed to acquire all of the outstanding shares of Taro's ordinary shares for a purchase price of USD 43 per share in cash, Sun Pharmaceutical Industries said in a regulatory filing. Further, the company said that on December 10, the special committee confirmed that it agreed in ...

War-wracked Myanmar now world's top opium producer, says UN agency

Myanmar, already wracked by a brutal civil war, has regained the unenviable title of the world's biggest opium producer, according to a UN agency report released on Tuesday. The Southeast Asian country's opium output has topped that of Afghanistan, where the ruling Taliban imposed a ban on its production, the United Nations Office on Drugs and Crime said in its Southeast Asia Opium Survey 2023." The Taliban's ban has led to a 95 per cent drop in the cultivation of opium poppies, UNODC said last month. Opium, the base from which morphine and heroin are produced, is harvested from poppy flowers. From 2022 to 2023, Myanmar saw the estimated amount of land used to grow the illicit crop increase 18 per cent to 47,100 hectares (116,400 acres), the new UNODC report said. Although the area under cultivation has not returned to historic peaks of nearly 58,000 ha (143,300 acres) cultivated in 2013, after three consecutive years of increases, poppy cultivation in Myanmar is expanding and ...

Samples of 59 drugs declared as 'not of standard quality', says CDSCO

Samples of 59 drugs, including those of reputed companies, were declared as "not of standard quality" in October, according to a Central Drugs Standard Control Organisation (CDSCO) alert. The CDSCO in its alert, which was issued recently, said that 1,105 samples were tested. Of the total, 61, which include two samples of unlabelled vials with white seal purported to contain Tigecycline 50 mg and two samples of phenolic disinfecting multi-purpose surface cleaner-cum-deodoriser (Lytner), were found to be "not of standard quality", it said. The count comes to 59 as samples of two drugs were repeated. The drug samples were tested at various statutory laboratories authorised by the CDSCO. The other samples termed "not of standard quality" include those of Cefixime Oral Suspension IP, Amoxycillin, Potassium Clavulanate and Lactic Acid Bacillus Tablets (GAMPCLAV-625 LB Tablets), Rabeprazole Sodium (Enteric Coated) and Domperidone (Sustained Release) Capsules (20 mg/30 mg), Diclofenac So

India's pharma business can reach $130 bn by 2030: Industry experts

India's pharmaceutical business may exceed USD 130 billion by 2030, supported by expanding market opportunities and heightened demand in the overseas markets, industry experts said on Tuesday. The business stood at over USD 50 billion for the 2022-23 fiscal, they noted. Chairman of PharmExcil (Pharmaceuticals Export Promotion Council of India) Veeramani S V said the Indian pharmaceutical industry is on a compelling growth trajectory, evidenced by an 8 per cent year-to-date increase in exports and a remarkable 29 per cent surge in October alone. "This growth is propelled by expanding market opportunities, heightened demand in the USA, and critical shortages of medicines in the US and Europe. Despite challenges in CIS countries, the global reception of Indian pharmaceuticals remains positive," he said. Veeramani noted that the domestic market has exhibited impressive growth, exceeding 10 per cent. "Driven by this momentum, I am confident in reaching the 130 billion mark by 2030," he

Indian pharma industry can grow to $450 bn by 2047: EY-OPPI report

The report underlines the need for collaboration and alignment between the industry, academia and government to advance research and innovation capabilities

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