Page 4 - Pharma Sctors

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

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