Page 25 - Pharma Sector

PLI schemes attract over Rs 1.06 trn investment; pharma gets major chunk

Production-linked incentive (PLI) schemes for 14 sectors have attracted over Rs 1.06 lakh crore investments till December 2023 with pharma and solar modules accounting for nearly half of the total, according to government data. The response to the schemes was tepid in sectors like IT hardware, auto, and auto components, textiles, and ACC battery storage till December last year. The government in 2021 announced PLI schemes for 14 sectors such as 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. According to the data, pharmaceuticals and drugs sector attracted Rs 25,813 crore till December last year, exceeding the expected investments of Rs 17,275 crore. The major beneficiary in this sector include Dr Reddy's Laboratories, Cipla, Glenmark Pharma, Biocon and Wockhardt Ltd. As regards the hig

Domestic drug firms to witness 8-10% revenue growth in FY25: Report

Revenue growth of leading 25 domestic drug firms is expected to moderate to 8-10 per cent in the next fiscal year, rating agency Icra said on Thursday. The revenue of the companies, which account for 60 per cent of the overall Indian pharmaceutical industry, witnessed an increase of 13-14 per cent in the current fiscal year. Following the high base of 2023-24, the revenue growth momentum from the US and Europe markets is expected to moderate to 8-10 per cent and 7-9 per cent, respectively, Icra said. The markets are expected to witness a year-on-year expansion of 18-20 per cent and 16-18 per cent, respectively, in the current fiscal year, it added. The domestic market, on the other hand, is expected to see a stable growth of 6-8 per cent, while the emerging markets may log an 8-10 per cent rise in FY25, against 16-18 per cent in FY24, the rating agency said. The revenue growth of the sample set companies in the US market in FY24 has been supported by increased new product launches

Dr Reddy's partners with Sanofi India to distribute vaccine brands in India

Under the terms of this agreement, Dr Reddy's will have exclusive rights to promote and distribute Sanofi's vaccine brands, including Hexaxim, Pentaxim, Tetraxim, Menactra, FluQuadri and Adacel

Indian pharma companies bank on 'mother brands' to boost revenue growth

An analysis by market research firm Pharmarack showed how such flagship brands have posted strong growth CAGR in the last five years, with some even doubling sales

Election officer shuts Twenty20 pharma shop in Kerala for MCC violation

The District Election Officer (DEO) here on Monday directed the Twenty20 Association, linked with the Twenty20 political party run by business group Kitex, to shut down a recently opened medical shop offering substantial discounts, for violating the Model Code of Conduct (MCC). The district collector, who is also the returning officer, pointed out that the private company, the registered association and the political party all share the same logo and the same set of executives. The order came on a complaint filed by two residents, that the medical shop opened next to the Bhakshya Suraksha Market, run by the Kizhakkambalam Grama Panchayat ruled by the Twenty20 party, was in violation of the MCC. "Prima facie, it is revealed that there is a violation of section 4.4.2B(i) of the manual on MCC, and there is a case here which may influence the voters in freely exercising their right to vote by inducement through gratification," the order read. The DEO said, "It is a unique case where th

Dr Reddy's, Pharmazz ink licence pact to commercialise resuscitative agent

With this agreement, India will become the first global territory where Centhaquin (Lyfaquin) is being launched immediately, according to the company

Medical and sales representatives body terms UCPMP an exercise in vain

The FMRAI had in 2021, lodged a case in the Supreme Court of India to make the UCPMP a statutory law

AstraZeneca bets on next-generation cancer therapy with $2 bn Fusion deal

AstraZeneca will pay $21 per Fusion share, a premium of more than 97% to the US-listed company's closing price on Monday

Sun Pharma gets approval to sell acne treatment cream Winlevi in Australia

Collaboration with Cosmo enables rights for cream in several countries, says company

Unclear how many baby formula maker cases related to Enfamil: Reckitt

Shares of Reckitt, which owns brands such as Lysol, Dettol and Strepsils, that day suffered their steepest one-day drop since 1999, making it the top loser on London's blue-chip FTSE 100

Lupin gets USFDA nod to market a generic drug to treat bacterial infections

Drug maker Lupin on Friday said it has received approval from the US health regulator to market a generic medication to treat bacterial infections, in America. The company has received approval from the USFDA for Doxycycline for Injection USP, the Mumbai-based drug maker said in a statement. The company's product is the generic equivalent of Pfizer Inc's Vibramycin for injection, it added. The product will be manufactured at its Nagpur facility, Lupin said. Doxycycline for Injection USP is indicated to reduce the development of drug-resistant bacteria. As per the IQVIA MAT January 2024 data, Doxycycline for Injection USP had estimated annual sales of USD 47 million in the US market.

Entod Pharmaceuticals develops human insulin eye drops to treat corneal eye

Recent research suggests that insulin eye drops can be effective in repairing corneal tissue and treating ocular surface conditions

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