Page 4 - Pharma Sctors

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

Medtech sector needs to become $200 bn industry by 2030: Pharma secy

India is currently the third-largest pharmaceutical industry in the world by volume, with a market size of around $50 billion, according to the Ministry of Chemicals and Fertilisers

Sensible opportunities emerging in largecap space: Nippon India MF's Bhan

Bhan mentions that sectors such as automotive (auto), pharmaceutical (pharma), and industrials have performed particularly well in the ongoing result season

Lupin receives approval from the US FDA for its Selexipag for injection

In 2022, sales of the Selexipag Franchise in the US stood at $ 1.1 billion. The sales for January 1 to September 30, 2023, stood at $978 million

Practo aims to turn profitable in FY24, targets 50% revenue growth

Practo's co-founder and chief executive officer Shashank ND said that they have been focusing on profitability and so far in FY24, they have been cash flow positive

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

Lupin gets EIR Status from US FDA for Nagpur Unit-1 manufacturing facility

The EIR was issued following the facility's inspection conducted in July 2023

Glenmark, Cosmo partner to bring acne treatment Winlevi to Europe, S Africa

This agreement grants Glenmark the exclusive right to commercialise Winlevi in 15 EU countries, South Africa, and the UK

Pharma sector must focus on innovation to become global leader: Minister

Union health minister Mansukh Mandaviya on Tuesday asked domestic pharmaceutical industry to focus on the research and development of innovative products to move up the value chain and achieve global leadership. Mandaviya, who also holds the Chemical and Fertilisers portfolio, asked medical technology companies to produce critical equipment in India for the global markets. While formally unveiling the National Policy on Research & Development and Innovation in the Pharma-Med Tech Sector here, Mandaviya said the domestic pharmaceutical companies invest less on research and development when compared to multinational companies. "International MNCs spend 20-25 per cent of their profits in research and innovation while for Indian companies the average is around 10 per cent...Till the time we do not come out with research-led innovative products, we cannot lead the segment globally," he noted. He said the government wants to make the pharma industry self-reliant by 2047. "Today is a ...

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

Indian pharma Industry to log 8-10% revenue growth in FY24: Report

Drugs in the National List of Essential Medicines contribute 17% of revenue: ICRA

Why small and microcaps are rocketing

The question on everyone's mind is, will this be sustainable? The answer is not simple

Tabreed to invest $200 mn in Telangana to develop district cooling plants

Tabreed, a UAE-based global leader in cooling utilities, on Wednesday said it has partnered with Telangana government to develop cooling infrastructure for industrial and commercial parks, and will invest USD 200 million to develop 1,25,000 RT (refrigeration tonne) of district cooling plants for Hyderabad Pharma City. The state government also signed a MoU with Tabreed to explore district cooling infrastructure in existing and upcoming commercial districts of Cyberabad near here and other mixed use development areas. Speaking on the occasion, Telangana Urban Development, Industries and Commerce Minister K T Rama Rao said, "As we embark on a journey towards a more sustainable future, we are delighted to partner with Tabreed, exemplifying Government of Telangana's commitment to environmental stewardship through embracing innovative and implementable solutions." Tabreed chairman Khaled Abdulla Al Qubaisi said,"By bringing our expertise in district cooling to the world's largest net zer

Cipla, Glenmark: Time to accumulate pharma stocks on robust bullish trend?

The current volatility in the benchmark indices offer the ideal opportunity to accumulate pharma stocks around their respective supports

A critical lapse in Jan Vishwas Bill

In seeking to make life easier for entrepreneurs, the proposed new law raises several questions on patient safety

Nirma looks to raise up to Rs 7,000 crore to fund buys and expansion

The unlisted company posted revenues to the tune of Rs 11,403 crore in fiscal 2023

Waiver for rare disease drugs brings little relief: Pharma sector

Industry bats for extending exemption to drugs that are already commercially available in India