Page 17 - Pharma Sector

Gland Pharma soars 13% on better than expected Q2 performance

Despite increased EBITDA loss at Cenexi, the overall consolidated EBITDA margin was better-than-expected at 21.1%, led by better segmental mix and controlled operational cost for the quarter.

Gland Pharma Q2FY25 results: Net profit falls 15.7% to Rs 164 crore

The company reported consolidated net profit of Rs 164 crore ($19.5 million) for the quarter ended Sept. 30, a 15.7 per cent decrease from the year-ago period

Torrent Investments sells 2.9% stake in Torrent Pharma for Rs 3,086 cr

Torrent Investments, a promoter entity of Torrent Pharmaceuticals, on Wednesday trimmed a 2.9 per cent stake in the company for Rs 3,086 crore through open market transactions. According to the bulk deal data available with the BSE, Torrent Investments Pvt Ltd sold a total of 99.44 lakh shares or 2.94 per cent stake in Torrent Pharmaceuticals. The shares were sold in the price range of Rs 3,103.07-3,104.40 apiece, taking the combined transaction value to Rs 3,086.37 crore. After the stake sale, the combined holding of promoters of Torrent Pharmaceuticals has come down to 68.31 per cent from 71.25 per cent. Details of the buyers of Torrent Pharmaceuticals' shares could not be ascertained on the BSE. Last week, Torrent Pharmaceuticals reported its consolidated profit after tax rose 17 per cent to Rs 453 crore in the September quarter, led by robust sales in the domestic market. The drug firm had reported a profit after tax (PAT) of Rs 386 crore in the July-September period of the l

GlaxoSmithKline Pharma Q2 results: Net profit rises 16% to Rs 252 cr

GlaxoSmithKline Pharmaceuticals on Tuesday reported a 16 per cent year-on-year increase in its consolidated net profit to Rs 252 crore in the September quarter, aided by robust sales across segments. The drug maker posted a net profit of Rs 217 crore for the July-September quarter of last fiscal. Revenue from operations rose to Rs 1,010 crore for the September quarter compared with Rs 957 crore in the year-ago period, GlaxoSmithKline Pharmaceuticals said in a regulatory filing. The company said its board declared a special interim dividend of Rs 12 per equity share of face value of Rs 10 each. "As we mark our centenary year in India, we are happy to announce a special interim dividend to our shareholders. Our performance reflects our commitment to sustainable growth and innovation," GlaxoSmithKline Pharmaceuticals MD Bhushan Akshikar said. The drugmaker said its key brands held their market share and continued to stay in line with the respective category performance. Augmentin ..

NPPA asks pharma manufacturers to cut price of 3 anti-cancer drugs

The government has asked the companies to reduce prices of three anti-cancer drugs to pass on the benefit of customs duty exemption and GST reduction to the consumers. In line with the government's commitment to ensure the availability of drugs at affordable prices, the National Pharmaceutical Pricing Authority (NPPA) has issued an office memorandum directing the concerned manufacturers to reduce the MRP on three anti-cancer drugs, Trastuzumab, Osimertinib and Durvalumab. This is in pursuance to the announcement made in the Union Budget for the year 2024-25 exempting these three anti-cancer medicines from customs duty, the Ministry of Chemicals and Fertilisers said in a statement. The Department of Revenue, Ministry of Finance, issued a notification dated July 23, this year reducing the customs duty to nil on the three drugs. "Accordingly, there should be a reduction in MRP of these drugs in the market and benefits of reduced taxes and duties should be passed on to the consumers,"

Cipla Q2 results: Net profit up 17%, income from operations at Rs 7,051 cr

Drug major Cipla on Tuesday reported a 17 per cent increase in consolidated net profit to Rs 1,303 crore for the second quarter ended September 2024, driven by robust sales across markets. The company had reported a net profit of Rs 1,115 crore in the July-September quarter of the last fiscal. Its total income from operations rose to Rs 7,051 crore in the second quarter compared to Rs 6,490 crore in the year-ago period, Cipla said in a regulatory filing. "In Q2 FY25, we recorded a revenue growth of 9 per cent over the last year with a highest-ever EBITDA margin of 26.7 per cent driven by mix and other operational efficiencies," Cipla MD and Global CEO Umang Vohra said. The company's 'One-India' business was impacted during the quarter due to a changed seasonal pattern. However key chronic therapies in the branded prescription business continued to grow faster than the market, he added. The company's consumer health business grew at a strong 21 per cent year-on-year, Vohra said. "

Sun Pharma Q2FY25 results: Net profit rises 28% to Rs 3,040 crore

Sun Pharmaceutical Industries on Monday reported a 28 per cent increase in its consolidated net profit to Rs 3,040 crore in the September quarter. The drug major had posted a net profit of Rs 2,375 crore in the July-September quarter of last fiscal. Total income rose to Rs 13,645 crore in the second quarter compared to Rs 12,486 crore in the year-ago period, the Mumbai-based drug major said in a regulatory filing. "Sun has recently strengthened its specialty pipeline through an agreement with Philogen for commercialising late stage candidate Fibromun, upon approval," Dilip Shanghvi, Chairman and Managing Director of the company, said. With Fibromun, the company's product basket for dermatologists has expanded further, he added. "We shall continue to leverage our strong cash position to strengthen our pipeline with products that are close to market," Shanghvi said. Shares of the company were trading 2.22 per cent higher at Rs 1,901.55 apiece on the BSE.

Piramal Pharma deploying $85 mn capex this fiscal: Nandini Piramal

Piramal Pharma is utilising a capex of about USD 85 million for various initiatives, including capacity expansion, maintenance and de-bottlenecking of CDMO sites, in the current fiscal, according to its Chairperson Nandini Piramal. The Mumbai-headquartered firm, which aims to cross USD 2 billion in revenue by FY30, has already invested around USD 30 million in the first half of the ongoing fiscal on the initiatives. "We expect the capex this year to be at a similar level as last year, which is about USD 85 million," Piramal told PTI in an interaction. A part of the capex is planned for the domestic market while some of it would also go into the US business, she added. "Some part of it, around USD 30 million, is maintenance capex, and the rest would go into capacity expansion in Telangana and Dahej (Gujarat) plants and also towards de-bottlenecking of some of the CDMO sites," Piramal noted. The company last week reported over four-fold increase in consolidated net profit at Rs 23 c

Mankind completes Rs 13,768 cr acquisition of Bharat Serums and Vaccines

The announcement was made after market hours. On Wednesday, Mankind Pharma's shares closed at Rs 2,529.80 apiece, down 1.46 per cent on the Bombay Stock Exchange (BSE)

Sales across 14,000 Jan Aushadhi outlets touch Rs 1,000 cr mark in October

Sales of Jan Aushadhi outlets reached Rs 1,000 crore mark in October this year, a feat that was achieved in December 2023. Notably, Pharmaceuticals & Medical Devices Bureau of India (PMBI) had sold medicines worth Rs 200 crore in single month of September 2024. "This achievement highlights the growing trust and reliance of the people on affordable and quality medicines. This was possible only with the unwavering support of the citizens, who have embraced the initiative by purchasing medicines from over 14,000 Jan Aushadhi Kendras across the country," Ministry of Chemicals and Fertilisers said in a statement. The substantial growth is a testament to PMBI's commitment to making healthcare accessible and affordable for all by reducing out of pocket expenditure, it added. In the last 10 years, there has been a growth of more than 170 times in number of Jan Aushadhi outlets in the country. From 80 outlets in 2014, the number has increased to more than 14,000 outlets now, covering ...

India, Uzbekistan discuss ways to ensure quality, safety in pharma sector

A delegation from Uzbekistan met officials from India's Central Drugs Standard Control Organisation and discussed areas of collaboration, including the development of a pharmacovigilance system and reducing adverse effects of pharmaceutical products, officials said on Wednesday. The delegation led by Alisher Temirov, Director of the Center for Pharmaceutical Products Safety, Uzbekistan had detailed discussions with Ranga Chandrashekar, Joint Drugs Controller of India's regulatory body for drug control, regarding the quality and safety in the pharma sector, they added. "Several important issues were discussed during the meeting, including the development of a pharmacovigilance system, reducing the adverse effects of pharmaceutical products, and identifying ways to prevent potential risks. It was emphasised that strengthening international cooperation in this area is crucial for ensuring public health," an official statement said. Temirov stressed the importance of developing effectiv

Wockhardt gains 4% on filing for DCGI's approval for its insulin injection

Wockhardt is also developing additional insulin analogs and GLP-1 agonists to provide advanced diabetes care solutions

Strides Pharma CDMO arm gets Rs 801 cr from investors in pre-listing round

Strides Pharma Science on Wednesday said its associate firm has received equity commitment of Rs 801 crore from domestic and foreign institutional investors in the pre-listing round. OneSource Specialty Pharma, the contract development and manufacturing organisation (CDMO) arm of the company, has received confirmed capital infusion commitments from investors, Strides Pharma Science said in a statement. The share subscription agreements are being executed at a pre-money equity value of USD 1.65 billion, it added. The fundraise is in line with the scheme of arrangement announced in September 2023 and the investment is subject to customary closing conditions, including receipt of necessary regulatory approvals, the company said. "This fundraise will enable us to accelerate our growth plans, right-size our debt book, and commit significant new capex for a strong order book across our three platforms," Strides Group Founder Arun Kumar said. In September last year, Strides announced t

GSK agrees to settle about 80,000 Zantac lawsuits for up to $2.2 billion

Lawsuits against the companies began piling up in both state and federal courts after the US Food and Drug Administration in 2020 asked manufacturers to pull Zantac off the market

Policy support important as India largely an out-of-pocket market: Panchal

AstraZeneca Pharma India Managing Director and Country President, Sanjeev Panchal, talks to Shine Jacob about the company's future plans in an interview

Shilpa Medicare shares rise 3% on receiving CEP for Desmopressin; details

Shilpa Medicare share price surged after the company said that its arm, Shilpa Pharma Lifesciences, has received certificate of suitability (CEP) from EDQM for API, Desmopressin

Biocon Biologics refinances $1.1 bn debt through bonds, syndicated facility

Refinancing will improve liquidity and help in reinvestment, says company

Alembic Pharma share price gains 5% after USFDA okays seizures drug

Alembic Pharma share price surged after the United States Food and Drug Administration (USFDA) gave final approval for Lamotrigine ExtendedRelease Tablets USP, 200 mg, 250 mg, and 300 mg.

Packaged-food makers now targeting Ozempic users with new product line

While the food industry has never met a diet trend it didn't seek to capitalize on, GLP-1s at one point seemed to present an existential threat: the disappearance of cravings

Royal Philips' 1st female top executive in 133-yr history begins her tenure

Charlotte Hanneman, 45, is taking over as the CFO of the Dutch maker of medical equipment, succeeding Abhijit Bhattacharya