Page 25 - Pharma Sector

DoP to form panel of auditors for risk-based marketing audit of drug firms

Industry insiders expressed concerns around how the new UCPMP would be implemented and how anyone found guilty of violations of the code would be penalised

Sanofi India, Emcure Pharma announce exclusive distribution partnership

Collaboration aligns with Sanofi's growth strategy in India, named 'India for India', aims to accelerate growth across its pharmaceuticals, specialty care, consumer healthcare, and vaccines business

Pharma industry bodies welcome govt's technical upgradation scheme

Drug manufacturers with annual turnovers below Rs 500 crore will get the financial assistance in upgrading their facilities to meet global standards

Govt notifies new marketing code for pharma cos to curb unethical practices

The Department of Pharmaceuticals on Tuesday notified a new code which prohibits pharma companies from offering gifts and travel facilities to healthcare professionals or their family members. The Uniform Code for Pharmaceuticals Marketing Practices (UCPMP) 2024 also bans supply of free samples to those who are not qualified to prescribe such a product. "No gift should be offered or provided for personal benefit of any healthcare professional or family member (both immediate and extended) by any pharmaceutical company or its agent i.e. distributors, wholesalers, retailers, etc," as per the UCPMP guidelines. Similarly, no pecuniary advantage or benefit in kind may be offered, supplied, or promised to any person qualified to prescribe or supply drugs, by any pharmaceutical company or its agent i.e. distributors, wholesalers, retailers, etc, it added. Besides, the companies or their representatives, or any person acting on their behalf, should not extend travel facilities inside or ..

Govt revamps pharma scheme, to provide financial assistance to drug cos

Financial support for drug companies also comes against the backdrop of deaths being reported abroad due to the manufacture of substandard drugs linked to Indian companies

Wockhardt announces success of antibiotic to treat drug-resistant infection

Doctors used Zidebactam/Cefepime to treat a highly drug-resistant skull bone infection and pneumonia in a renal transplant patient

AstraZeneca, Mankind Pharma sign pact to distribute asthma medicine

AstraZeneca Pharma India Ltd and Mankind Pharma Ltd on Monday said they have entered into an agreement for exclusive distribution of the Symbicort brand, an asthma medicine, in India. Symbicort is owned by AstraZeneca, which will retain the intellectual property rights and will continue to be the marketing authorisation holder (MAH) and import license after the agreement, a joint statement shared on BSE by AstraZeneca Pharma India said. "The partnership with Mankind Pharma presents an opportunity to accelerate access and maximise the potential of our asthma drug as well as the turbuhaler which is a simple device, efficient in consistently delivering a higher proportion of respirable particles than the other devices," AstraZeneca India Managing Director and Country President Sanjeev Panchal said. Mankind Pharma has a distribution network, including close to 16,000 field forces and more than 13,000 stockists, across India providing access to quality pharmaceuticals across the country,

Govt revamps pharma scheme, entails financial assistance to drug cos

The Department of Pharmaceuticals has revamped a scheme which entails financial assistance to drug companies to help them upgrade their facilities to produce medicines conforming to global standards, an official release said on Monday. As per the revamped Pharmaceuticals Technology Upgradation Assistance Scheme (PTUAS), the government has expanded the scope of the initiative beyond MSMEs to include any pharmaceutical manufacturing unit with a turnover of less than Rs 500 crore that requires technology and quality upgradation, the Chemicals and Fertilisers ministry said in a statement. Preference however remains for MSMEs, supporting smaller players in achieving high-quality manufacturing standards, it added. The revamped scheme also introduces more flexible financing options, emphasising subsidies on reimbursement basis, over traditional credit-linked approach. This flexibility is designed to diversify the financing options of the participating units, facilitating a more widesprea

Noida police arrest CMD of pharma firm from B'luru for defrauding investor

The chairman and managing director of a pharmaceutical company has been arrested from Bengaluru for allegedly defrauding an investor of Rs 70 crore six years ago, Noida police said on Thursday. The pharma company has offices in Dubai and Chennai while the investor, a Delhi resident, runs a firm in Noida's Sector 18. Shakir Hussain alleged that he was tricked into investing money into Novo Health Care in 2017, 2018 and 2019 and was shown forged balance sheets of the company by the accused, Ramani Kalpati Ramachandran Venkata, a native of Chennai, according to the FIR. On December 5, 2023, Hussain lodged a complaint at Sector 20 police station alleging that the accused duped him of Rs 70 crore on the pretext of investment in his company, a police spokesperson said. "On the basis of the complaint, an FIR was registered in the case and the matter was investigated. On Wednesday, with the help of electronic surveillance and technical evidence, Venkata was held from Bengaluru (Karnataka),

Healthcare innovation to double at $60 bn opportunity by FY28 in India

Indian vaccines and biotech market, which was valued at $4 billion in FY23, accounting for 15 percent of the innovation market, has quickly grown from $1.2 billion in FY20

'Two-thirds of greenfield units under PLI for bulk drugs completed'

Union Minister of Chemical and Fertilisers Mansukh Mandaviya on Saturday inaugurated 40 greenfield facilities to manufacture bulk drugs and medical devices under the PLI scheme

Biocon Biologics gets green light to launch Yesafili biosimilar in Canada

Under the agreement, Biocon Biologics will launch Yesafili no later than July 1, 2025. Health Canada had granted tentative approval for Yesafili in March 2023

Cadila Pharma launches quadrivalent influenza vaccine 'Cadiflu Tetra'

Cadiflu Tetra is developed employing Nano-sized particles, the Vaccine mimics the external structure of the virus without containing intact genetic material

Cadila Pharmaceuticals launches Tetra vaccine to prevent influenza

Cadila Pharmaceuticals on Monday said it has launched a vaccine to prevent influenza, a recurrent and widespread viral infection. The drug firm has introduced quadrivalent Cadiflu Tetra vaccine which has been approved by the DCGI (Drugs Controller General of India) for use in adults and children. The new vaccine targets four strains of the influenza virus subtype A and B, responsible for seasonal epidemics, the drug firm said in a statement. Developed using proprietary technology employing nano-sized particles, the vaccine mimics the external structure of the virus without containing intact genetic material, it added. "This breakthrough in vaccine development also holds promise for enhancing the protection of pregnant women against influenza, contributing to the overall well-being of both mother and child," Cadila Pharmaceuticals CMD Rajiv I Modi said. Influenza, commonly known as seasonal flu, is a highly contagious acute respiratory illness

Takeda injects hope: Dengue vaccine clinical trials set to begin in India

Biological E will increase manufacturing capacity to up to 50 million doses a year, accelerating Takeda's plans to manufacture 100 million doses annually within the decade

Several pharma cos step up corrective action plans after crackdown by govt

The orders in the state have now been revoked, with the companies undergoing corrective and preventive action (CAPA) processes

Still facing strong headwinds, 2024 sales flat to lower, says Novavax

The company posted a larger-than-expected fourth-quarter loss as revenue lagged analysts' estimates, sending its shares down 26.3% to $4.44 in early trading

Roche Pharma launches new drug for multiple sclerosis treatment in India

With the launch of the new drug, the global pharma company hopes to expand its neurology portfolio and cater to the untapped need of patients facing the disease in India

Traditional system of medicines gaining worldwide acceptance: Sonowal

Union minister Sarbananda Sonowal on Saturday said traditional medicines like Ayush have gained a new lease of life, and are being recognised worldwide for their efficacy. He also said that the traditional medicine sector of India has grown beyond geographical boundaries and reached a global market, under the BJP-led central government. The Union Minister of Ayush was speaking after inaugurating a centre of excellence at the State Ayurvedic College and Hospital here. "Under the leadership of Prime Minister Narendra Modi, India has taken leadership position in the revamp of traditional medicines worldwide... This has helped our traditional medicine sector to grow out of its regular geography and communities to reach a wider population across communities from different parts of the world," Sonowal said. He said prior to 2014, the market value of Ayush products in India was limited to Rs 24,000 crore. But now, the country's Ayush products have gained a market of Rs 4.50 lakh crore ..

Preventive and wellness tests drive growth for diagnostic companies

Covid-19 led to increase in self-testing awareness, particularly about preventive and wellness services