Page 3 - Pharma Sctors

Senores Pharma files IPO with Sebi, aims to raise Rs 500 cr via fresh issue

Senores Pharmaceuticals Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The Ahmedabad-based company's IPO is a combination of fresh issuance of shares worth Rs 500 crore and an offer for sale (OFS) of up to 27 lakh equity shares by promoters and other selling shareholders, according to the draft red herring prospectus (DRHP). The offer also includes a reservation for a subscription by eligible employees. The pharma company may consider raising up to Rs 100 crore as pre-IPO placement. If such placement is completed, the fresh issue size will be reduced. Proceeds from its fresh issuance will be utilised for setting up a manufacturing facility for the production of sterile injections in its Atlanta facility; funding the working capital requirements of the company and its subsidiaries; supporting inorganic growth through acquisition and other strategic initiatives and payment of debt. Besides, a portion will

Zydus Life stock price jumps 6% on USFDA nod for Valsartan tablets

The shares surged after the pharmaceutical major announced that it has secured final nod from United States Food and Drug Administration (USFDA) for Valsartan tablets.

Q1 results preview: Niche US products, domestic growth may boost pharma biz

Brokerages expect aggregate sales growth of 11 per cent, and 21 per cent earnings growth during this period

Investors lap up shares of Emcure, Bansal Wire; bids cross Rs 1.25 trillion

The demand for both issuances reflects the positive sentiment among investors and could be a harbinger for more initial public offerings (IPOs) in the coming weeks, said industry players

Indian pharma sites outpace global standards in USFDA inspections for 2023

The USFDA categorised 13 per cent (19 out of 145 inspections) of Indian facilities as 'Official Action Indication'(OAI), which is lower than the global average of 15 per cent OAIs

Cipla: Timely new launches, India outperformance key for margin gains

Brokerages maintain add/buy rating on the stock

Piramal Pharma open to partnerships in OTC; eyes further debt reduction

Piramal said that they are focusing on organic growth across all their verticals - OTC business in India, complex hospital generics, and the Contract Development and Manufacturing (CDMO) business

Pharma firms bank on 'mother brands' to bolster new products: Report

A search conducted by Pharmarack showed that brands of any company, labelled under their mother brands, were observed to enjoy greater market share among their peers

Sun Pharma recalls around 55,000 bottles of generic medication in US

Sun Pharma is recalling about 55,000 bottles of a generic medication to treat bowel disease in the American market, according to the US Food & Drug Administration (USFDA). As per the latest Enforcement Report by the US health regulator, New Jersey-based Sun Pharmaceutical Industries Inc, a unit of the Mumbai-headquartered drug major, is recalling 54,960 bottles of Mesalamine extended-release capsules in the American market. Mesalamine delayed-release capsules are indicated for the treatment of mild to moderate ulcerative colitis. The affected lot of capsules have been manufactured by Sun Pharmaceutical Industries at its Mohali-based manufacturing plant and distributed in the US market by Sun Pharmaceutical Industries Inc. As per the USFDA, the company has initiated the Class II recall due to "Failed Dissolution Specifications". The company initiated the Class II recall on February 5 this year. As per the USFDA, a class II recall is initiated in a situation in which the use of, or

Telangana to develop next phase of 'Genome Valley', says CM Revanth Reddy

The Telangana government will be taking up the next phase of 'Genome Valley', the country's first organised cluster for Life Sciences R&D and clean manufacturing activities here involving an investment of Rs 2,000 crore in 300 acres of land, Chief Minister Revanth Reddy said on Tuesday. Speaking at BioAsia 2024, a healthcare and life sciences annual event, Reddy said the government is also planning to develop ten "Pharma Villages" (clusters) in the state which will have investment potential of Rs one lakh crore. "I am announcing here to establish the next phase of Genome Valley in 300 acres of land with Rs 2,000 crore of investment," he added. He further said the Pharma Villages will have the potential to generate five lakh jobs after they are established. Reddy said the government has also identified clusters for Greenfield Integrated Pharma Villages in Vikarabad, Medak and Nalgonda, all three different areas of Telangana for infrastructure and investment. According to him, the .

Greece entry point for Indian firms to tap European market: PM Mitsotakis

Greece and India have a "lot of complementarities" in shipping, pharma and other sectors, Greek Prime Minister Kyriakos Mitsotakis said on Thursday as he emphasised that his country is the natural entry point for Indian companies to tap the European market. Addressing the 'India-Greece Business Forum', organised by FICCI and Enterprise Greece here, he said Greece and India have a "lot of complementarities" in shipping, pharma, such as defence, drones, agriculture, information and communication technology, tourism. He said "we expect to make concrete announcements very soon regarding the signing of the mobility migration agreement, enabling more Indian labour to come to Greece in an organised manner". On a sector-to-sector approach, the prime minister said, "You will realise that there's a lot of complementarities between sectors where Greece has a comparative advantage and where India is also quite strong." "I can see interesting natural synergies emerging in the technology space,"

Glenmark Pharma eyes $80 mn from it's nasal spray Ryaltris sales next year

Glenmark Pharmaceuticals expects its nasal spray Ryaltris to hit about USD 80 million in sales next year, boosting its overall revenue, according to a top company executive. The drug firm has so far commercialised the product in 31 geographies across the globe. Ryaltris is indicated for symptomatic treatment of seasonal and perennial allergic rhinitis in adults and children over 12 years of age. The drug relieves symptoms of allergic rhinitis, including stuffy nose, runny nose, nasal itching, sneezing, as well as itchy, red and watery eyes. "Ryaltris is a huge product for us, right? I mean next year, we anticipate sales of close to about USD 80-odd million. So it's a very large product already in a short time," Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said. The company is yet to launch the product in many of the major markets like China and Brazil, he added. Further, Saldana said, "So I think from peak sales, this will be a substantial product for us

Torrent Pharma Q3 results: Profit after tax jumps 52% to Rs 443 cr

Torrent Pharmaceuticals on Friday reported a 52 per cent increase in its consolidated profit after tax to Rs 443 crore for the third quarter ended December 2023. The drug firm had reported a net profit of Rs 292 crore in the October-December period of the last fiscal. Its revenue increased by 10 per cent to Rs 2,732 crore in the third quarter compared to Rs 2,491 crore in the year-ago period, Torrent Pharmaceuticals said in a statement. The company said its domestic business revenues increased 12 per cent year-on-year to Rs 1,415 crore in the October -December quarter this year. Brazil's business grew by 26 per cent to Rs 312 crore, while the US business expanded by 6 per cent to Rs 274 crore in the third quarter. German revenues for the October-December period witnessed a 12 per cent growth to Rs 270 crore in the December 2023 quarter. Shares of the company on Friday ended 0.51 per cent up at Rs 2,524.70 apiece on the BSE.

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

Govt mulls tweaking PLI schemes in textile, food processing, pharma: Report

The government is considering tweaking production linked incentive (PLI) schemes for certain sectors including textiles, food processing, and pharmaceuticals, a senior official said on Tuesday. The official said that a Cabinet note is finalised to seek approval for the changes from the top authorities. The changes would help these sectors attract more players. The scheme was announced in 2021 for 14 sectors, including telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones and pharma with an outlay of Rs 1.97 lakh crore. While certain sectors like electronics are doing well, others are not performing up to the mark. The government has disbursed Rs 4,415 crore under PLI schemes for eight sectors, including electronics and pharma, till October this fiscal. A total of Rs 1,515 crore was disbursed in FY24 till October, while it was Rs 2,900 crore

Pharma lobby bats for drug approvals in India to align with global markets

Launching a new drug in India takes up to four years longer than in markets such as the United States and the European Union, said the pharma lobby

NCB-Mumbai busts international pharma-drugs trafficking syndicate; 3 held

The apprehended accused have been identified as V Singh, G Mishra, and P Sharma, added the official statement

Sun Pharma to acquire 16.7% stake in Lyndra Therapeutics for $30 mn

Sun Pharmaceutical Industries Ltd on Monday said it will acquire a 16.7 per cent stake in US-based Lyndra Therapeutics, Inc for USD 30 million (nearly Rs 250 crore). The company has entered into an agreement to acquire 16.7 per cent shares on a fully diluted basis, in Lyndra Therapeutics Inc, based in Massachusetts, engaged in the business of developing novel delivery technology for long-acting oral (LAO) therapies, Sun Pharmaceutical Industries said in a regulatory filing. On the reasons for the acquisition, Sun Pharma said it is a strategic investment to support the development of innovative pharmaceutical delivery technologies and get access to the technology for certain molecules and territories. The cost of acquisition is USD 30 million and the transaction is expected to be completed by the end of December 2023, subject to certain conditions, it added. Incorporated on January 14, 2015, Lyndra Therapeutics clocked a turnover of USD 10.7 million in 2022, USD 13.1 million in 2021

Biocon considers selling generic API biz; turn into biosimilar major

The generic API business has been one of the primary businesses for Biocon, however, in recent years, the segment's contribution towards the company's consolidated financials has declined

Health Ministry seeks public comments on draft Pharmacy Commission Bill

The new pharmacy commission will be headquartered in New Delhi and shall consist of a Chairperson, thirteen ex-officio and fourteen part-time members