Page 20 - Pharma Industry

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

After Gambia, now Uzbekistan alleges Indian cold drug killed its children

Noida-based Marion Biotech's Dok-1 Max anti-cold medicine under scanner after the Central Asian nation blames it for 18 deaths

Domestic, semi-regulated markets to drive pharmaceutical industry's growth

High raw material prices to put pressure on margins

Indian pharma sector set for 'volume to value leadership' journey in 2023

Reinvent and innovate will be the key mantra for the Indian pharma industry in the New Year as the 'pharmacy of the world' looks to move from volume to value leadership

Rising cost of raw materials a challenge for drug firms: Cipla's Hamied

Companies will have to manage work to match India's National List of Essential Medicines but it will be worth the endeavour, she says