Page 17 - Pharma Industry

Regulation largest barrier in pharma, cos should focus on quality: Official

Union Pharma Secretary S Aparna on Thursday said regulations are the biggest barrier to market access in the sector globally, and exhorted local companies to focus on quality. Delivering a video message at the Eighth Global Pharmaceutical Quality Summit, Aparna backed the focus on regulations given the need to have products which are safe and effective. Pharma is highly regulated globally, and regulations contribute the single largest barrier to market access, she said. Indian manufacturing sector has wide-ranging players and the quality culture has to be built across the range, she said. Aparna said Indian industry, which has a very large number of small and medium businesses, is essentially a generic market, and stressed the need to innovate as per changing disease profile and other factors. Indian pharmaceuticals have scale, cost and quality advantages which have enabled companies to make a mark and garner market share in all countries across the world. Cost competitiveness can

A national innovation system for pharma

A world-beating pharmaceutical industry built on innovation is within reach if we make the changes needed in our firms, public research and regulation

NPPA fixes retail prices of 23 drug, including diabetes, blood pressure

National drug pricing regulator NPPA on Friday said it has fixed retail prices of 23 formulations, including the medications to treat diabetes and high blood pressure. The National Pharmaceutical Pricing Authority (NPPA) has fixed the prices under the Drugs (Price Control) Order, 2013 based on the decision of 113th Authority meeting dated May 26, 2023. As per the notification, the NPPA has fixed the price of one tablet of diabetes drug Gliclazide ER and Metformin Hydrochloride tablets at Rs 10.03. Similarly, the retail price of one tablet of Telmisartan, Chlorthalidone & Cilnidipine tablets at Rs 13.17. The retail price of one tablet of pain reliever medication Trypsin, Bromelain, Rutoside Trihydrate and Diclofenac Sodium tablets has been fixed at Rs 20.51. The NPPA said it has also revised ceiling price of 15 scheduled formulations under Drugs (Prices Control) Order, 2013 (NLEM 2022). It has also fixed ceiling price of two scheduled formulations. Besides, it has fixed and revise

Corning Inc partners SGD Pharma to set up Rs 500 cr plant in Telangana

SGD Corning Technologies Pvt Ltd, a joint venture between Corning Inc and SGD Pharma will be setting up a glass manufacturing facility in Telangana at an outlay of Rs 500 crore, which will create employment opportunities for 1,500 people directly and indirectly. Telangana Minister for IT and Industries K T Rama Rao in a tweet said, Delighted to break-ground for the world-class glass manufacturing facility of @Corning, a US based fortune 500 company and France based @SGDPharma being established in Vemula, Telangana with an investment of Rs 500 Crore and direct & indirect employment potential of 1500 people. The project will have strategic importance, as it not only supports growth of Telangana's life sciences sector and helps consolidate the state position globally, but also aligned with the efforts of the government, under the leadership of Chief Minister K Chandrasekhar Rao to promote holistic growth, inclusive development and job creation across the State, he said. Meanwhile, an

India a prime example of successfully growing pharma industry: UNICEF

India is a prime example of successfully growing a domestic pharmaceutical industry capable of meeting global supply needs, a top UNICEF official said. India can share its expertise and learnings from the model it used to foster the pharmaceutical industry with countries and regions trying to build capacities including how to incentivise the private sector, ensure regulatory and quality assurance systems in place and develop a globally competitive industry, Tara L Prasad, Senior Manager, Centre for Health Emergency Strategy and Partnerships at UNICEF, said. She is here to attend the third G20 Health Working Group meeting that is being held from June 4 to 6. "Further, India can share lessons on how to create an enabling environment, including investments in human and physical capital, as well as its learnings in moving beyond generic industry to expanding research and development innovator industry," Prasad said. The G20 more broadly can call upon its industry to ensure manufacturer

Govt raises issue of consumers forced to buy entire strip of tablets

Amid complaints about chemists insisting customers on buying entire strip of tablets or capsules, the Centre is making efforts to find some solution to protect the consumer interest and is holding consultations with the pharma industry. The forced buying of a full strip of medicine not only leads to medical wastage but also put unnecessary financial burden on customers. The Department of Consumer Affairs has held the first round of consultation with the senior representatives of pharma and medical devices industry, sources said. In the meeting, the top officials of the Drug Controller General of India were also present. According to sources, the issue was discussed at length in the meeting and the Department suggested them to explore new packing technology for medicines. A suggestion to adopt perforation technology to cut the strip was made to the industry. There was also a recommendation to print manufacturing and expiry date on each strip and even use of QR code, sources added.

Gland Pharma down 33% in two days, Shreyas Shipping hits 20% upper limit

The miss comes on the back of a key customer filing for bankruptcy, high competition from Chinese players, and production shutdowns

Pharma companies seek price ceiling exemption for low-cost medicines

The industry and the government are on the same page on trade margin rationalisation, however, the industry wants it to be implemented in a phased manner

Under the lens: Regulator moots pre-export govt testing for cough syrup cos

A pharma industry veteran said that the government may consider making glycol testing compulsory for all manufacturers of syrups and solvents

Pricing regulator sets mechanism to fix prices of off-patent drugs

Prices to be capped at 50% of innovator price; to be reviewed after one year

NPPA to cap medicine prices to boost affordability, curb profiteering

The change could have financial implications for leading drug manufacturers like Abbott Laboratories, Bayer AG, and GlaxoSmithKline, among others

Abbott recalls a batch of thyroid disorder drug for labelling error

Thyronorm has no quality issue, mislabeled batch was invoiced in Madhya Pradesh and Telangana: Company

Glenmark to pay $87.5 million to settle lawsuits over a product in US

Three plaintiff groups collectively representing all of the claims against the company and Merck are referred to as the Direct Purchaser Plaintiffs, the Retailer Plaintiffs, and the End-Payor Plaintif

Merck & Co to buy Prometheus Biosciences for nearly $11 billion

The company, through one of its subsidiaries, will pay $200 per share for Prometheus Biosciences

Amid US watchdog heat, it is life as usual at Global Pharma'S Chennai unit

The firm ran into trouble after the US FDA informed it of 55 cases of adverse events on the use of its eye drops, some of which caused permanent loss of vision and at least one caused death

Domestic pharma industry revenues expected to grow 6-8 pc next fiscal: Icra

Domestic pharmaceutical industry is expected to witness a revenue growth of 6-8 per cent in the next fiscal, rating agency Icra said on Thursday. Despite several disruptive events, the Indian pharmaceutical market (IPM) witnessed a healthy CAGR of 10.9 per cent between FY2012 and FY2022. "Going forward, ICRA expects revenues for its sample set to increase by 6-8 per cent in FY2024 against 3-4 per cent growth in FY2023," Icra Assistant Vice President & Sector Head - Corporate Ratings Mythri Macherla said in a statement. Structural factors such as ageing population and continued rise in lifestyle/chronic diseases, in addition to WPI-linked price hikes for NLEM products, new product introductions, and annual price hikes for non-NLEM products, are expected to support revenue growth for the industry, she added. Since FY2018, IPM growth has largely been supported by price increases and new product introductions, even as volume growth remained between 2-3 per cent each fiscal, Macherla ..

Uncertainty in Nigeria affects Indian auto, pharma, and consumer firms

Consumer companies like Godrej and Dabur too have significant exposure to Nigeria

Boosting pharma research

Govt should not solely depend on monetary incentives

Apparel, drugs, and leather exporters under scanner for tax scheme misuse

Sources say refunds of 600 entities not being processed

India starts probe after Uzbekistan cough syrup deaths, Noida firm responds

According to the ministry, chemical ethylene glycol was found in a batch of syrup during laboratory tests