Page 20 - Pharma Sector

CDSCO flags over 50 drugs of various companies as 'not of standard quality'

The country's central drug regulatory authority has listed samples of more than 50 drugs, including paracetamol, Pan D, calcium and vitamin D3 supplements, and anti-diabetes pills, as "not of standard quality" in its latest report. The batches of medicines flagged by the Central Drugs Standard Control Organisation (CDSCO) in its drug alert for August are of companies such as Alkem Laboratories, Hindustan Antibiotics Limited, Hetero Labs Limited, Karnataka Antibiotics and Pharmaceuticals Ltd, Nestor Pharmaceuticals Ltd, Priya Pharmaceuticals and Scott-Edil Pharmacia Ltd. The CDSCO's drug alert for August included samples from batches of medications such as Shelcal, Vitamin B Complex with Vitamin C Softgels, vitamin C and D3 tablets and Ciprofloxacin tablets. High blood pressure medications Telmisartan and Atropine Sulphate and antibiotics such as Amoxicillin And Potassium Clavulanate tablets have also been categorised as not of "not of standard quality". While batches of some drugs

Price hikes improve margins for diagnostic labs amid online competition

Diagnostic companies like Metropolis Healthcare and Dr Lal PathLabs have implemented price hikes to cope with inflationary pressures

AstraZeneca Pharma receives nod for cancer drug Durvalumab; stock soars 12%

The uptick in AstraZeneca share price came after the company announced that it has received permission to import for sale and distribution of Durvalumab 120 mg/2.4 mL and 500 mg/10 mL sol from CDSO.

Medical gear makers up in arms against zero-duty imports under EU FTA

India is 70% import-dependent, and Germany and the Netherlands are among the top five countries

Pharma's power pill: A strong dose of steady pricing and new launches

Pricing pulse check: US market demand, domestic stability as growth tonics

Mankind Pharma to raise funds up to Rs 10k crore via debt instruments

The board announced the issuance of corporate guarantees for four of its subsidiaries, namely Mankind Agritech, Appian Properties, Copmed Pharmaceuticals, and Lifestar Pharma.

Panacea Biotec gets $20 mn loan from US DFC for capex; stock rises 5%

The shares of Panacea Biotec rose after the company announced that it has secured $20 million in loan from US International Development Finance Corp (DFC).

Pharma's bitter pill: Falling API prices signal Chinese predatory play

An industry expert pointed out that Chinese companies typically resort to predatory pricing whenever API production increases in India

India's pharma sector set for 9.6% CAGR, reaching $55 bn by 2030: Report

Key segments contributing to the growth of India's pharma sector will be patented drugs, branded generics, and trade generics, according to a report by Pharmarack Technologies

Bharat Biotech launches oral cholera vaccine amid global shortage

With only one manufacturer currently supplying OCVs worldwide, there has been a deficit of approximately 40 million doses annually

Aurobindo, others recall products in US market over production issue: USFDA

Drug makers Aurobindo Pharma, Glenmark and FDC are recalling products in the US due to manufacturing issues, as per the US Food and Drug Administration (USFDA). Aurobindo Pharma USA Inc -- a unit of Hyderabad-based drug major -- is recalling 240 bottles of pain-relieving medication Healthy Living Acetaminophen, Aspirin (NSAID) and caffeine tablets. As per the latest enforcement report of USFDA, the company is recalling the affected lot due to "Missing Label". Some bottles are missing the manufacturer's label that includes the drug facts information, the US health regulator said. The New Jersey-based Aurobindo Pharma USA Inc initiated the Class 1 recall on July 11, it said. As per the US health regulator, a Class I recall pertains to defective products that can cause serious health problems. Similarly, a US-based subsidiary of Glenmark Pharmaceuticals is recalling 2,404 bottles of Indomethacin Extended-Release Capsules, produced at a Madhya Pradesh plant, due to "Failed Dissolutio

Govt bans 156 fixed dose combination drugs over health risk concerns

The Union Ministry of Health and Family Welfare issued a gazette notification, prohibiting the manufacture, sale and distribution of these medicines

Aarti Drugs surges 13% as board mulls share buyback on August 26

Going ahead in FY25, the management anticipates an improvement in margins, mostly driven by an anticipated growth in export sales and backward integration.

Valuations may temper gains for GlaxoSmithKline Pharma despite strong Q1

The brokerage has estimated a 9 per cent earnings growth over FY24-26 for GSK Pharma

Glenmark Pharma introduces generic eye treatment medication in US

Glenmark Pharmaceuticals on Monday said its US-based subsidiary has introduced a generic medication used for eye itching. Glenmark Therapeutics Inc, USA has launched Olopatadine Hydrochloride Ophthalmic Solution (OTC) in the US market, the Mumbai-based drug maker said in a regulatory filing. Fabio Moreno, Head of OTC Sales & Marketing, Glenmark Pharmaceuticals Inc, said the launch of Olopatadine Ophthalmic Solution (USP, 0.1 per cent), addresses a growing demand for a new supplier in this category. "This addition highlights our commitment to meeting market needs and providing high-quality over-the-counter solutions for our customers," Moreno said.

IPCA Labs targets Rs 100 crore market with new diabetic foot ulcer drug

This drug has shown a 77.20 per cent ulcer closure rate in clinical trials, offering hope for a condition that often leads to severe outcomes like lower limb amputations

Capital goods, pharma, auto sectors shine with strong profit growth in Q1

IT Services and FMCG companies reported a slight uptick in revenue growth in Q1FY25, but their growth remains in low single digits

Alembic Pharma gets approval from US FDA to market generic medication

Alembic Pharmaceuticals on Tuesday said it has received approval from the US health regulator to market a generic product indicated for prophylaxis of deep vein thrombosis. The company has received approval from the US Food and Drug Administration (USFDA) to market Dabigatran Etexilate Capsules (110 mg), the drug firm said in a regulatory filing. Dabigatran Etexilate Capsules are indicated for prophylaxis of deep vein thrombosis and pulmonary embolism following hip replacement surgery. The approved product is therapeutically equivalent to Boehringer Ingelheim Pharmaceuticals Inc's Pradaxa Capsules (110 mg). The company said it now has a cumulative total of 211 ANDA (abbreviated new drug application) approvals from the USFDA. Shares of the company on Tuesday closed 3.17 per cent down at Rs 1,076 apiece on the BSE.

Aurobindo Pharma Q1FY25 results: Net profit jumps 61% to Rs 919 cr

Aurobindo Pharma on Saturday said its consolidated net profit increased 61 per cent year on year to Rs 919 crore in the first quarter ended June 2024, aided by strong sales across markets. The Hyderabad-based drug maker had reported a net profit of Rs 571 crore in the April-June quarter of last fiscal. Revenue from operations increased to Rs 7,567 crore in the June quarter as against Rs 6,851 crore in the year-ago period, the drug maker said in a statement. "We are pleased with our continued strong performance this quarter, with a significant top-line growth across all our business segments," Aurobindo Pharma Vice-Chairman and Managing Director K Nithyananda Reddy stated. The profitability was sustained by improved gross margins and operational efficiencies, while ramping up our recently commercialised plants, he added. "We are confident in our ability to achieve our growth targets for FY25," Reddy said.

Lincoln Pharma Q1FY25 results: Net profit jumps 24% to Rs 23.67cr

Drug maker Lincoln Pharmaceuticals on Thursday said its consolidated net profit jumped by 24.51 per cent to Rs 23.67 crore in the April-June quarter of 2024-25 compared to Rs 19.01 crore in the year-ago quarter. Total income of the Ahmedabad-bnased company rose by 10 per cent to Rs 157.69 crore in the quarter under review from Rs 143.31 crore in the first quarter of 2023-24. Its operating profit (EBITDA) rose by 16.65 per cent to Rs 33.14 crore in the quarter from Rs 28.41 crore in Q1FY24. Both domestic and export operations have shown robust growth and the company is confident to enhance profitability and margins going forward, the company said in a statement. With focused growth strategies and business expansion plans for value added products and expanding to newer markets, the company is targeting revenue of Rs 750 crore in FY26, it said in the earnings statement. Lincoln Pharmaceuticals shares closed 0.95 per cent down at Rs 652.75 on BSE.