Page 26 - Pharma Sector

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

Moderna reports surprise Q4 profit, sets out road map for RSV vaccine

Moderna recorded $6.8 billion in sales from its COVID vaccine in 2023, down from $18.4 billion in 2022 but slightly above Wall Street estimates of $6.7 billion

Indian drug firms look for new opportunities in Saudi Arabia pharma market

Indian drug firms sense opportunity to increase presence in $8.9 bn Saudi market

Global pharma companies dominate Indian vaccine market: PharmaTrac report

Global pharmaceutical companies hold 60% of value share in India's vaccine market, outperforming domestically manufactured vaccines in terms of revenue

India sends relief material including medicines to cholera-affected Zambia

India has sent relief material, including medicines, to Zambia to help it deal with an outbreak of cholera, External Affairs Minister S Jaishankar said on Saturday. He said India stands with Zambia in this "trying time". "India sends Humanitarian Assistance to Zambia in wake of the cholera outbreak," Jaishankar posted on X along with a photograph of relief material consignments. "The aid weighing approx 3.5 tons comprises water purification supplies, chlorine tablets and ORS sachets. Was handed over today by our High Commissioner to the Government of Zambia," he said.

Novartis announces strategic review of Novartis India Limited

Drug major Novartis AG on Friday announced a strategic review of Novartis India Ltd, a public company listed on the BSE. The strategic review will include an assessment of the 70.68 per cent shareholding of Novartis AG in the company, the drug firm said in a statement. Novartis India Ltd is separate from Novartis Healthcare Pvt Ltd, the wholly owned subsidiary of Novartis group in India. Novartis Healthcare Pvt Ltd includes the Novartis Corporate Centre in Hyderabad, the commercial arm of Novartis in India, and R&D teams, which currently conduct clinical trials at more than 300 trial sites in the country. The strategic review will not impact Novartis Healthcare Pvt Ltd, Novartis AG stated. There can be no assurance that the strategic review of Novartis India Ltd will be completed in 2024, or that the outcome would result in the implementation of any transaction, it said. Novartis remains deeply committed to India with a footprint that has expanded significantly in recent years, i

Lupin gets approval from USFDA for pregnancy prevention drug 'Minzoya'

Pharma major Lupin Ltd on Friday said it has received approval from the US health regulator to market its generic 'Minzoya' tablets used to prevent pregnancy. The approval granted by the US Food and Drug Administration (USFDA) is for the abbreviated new drug application for Minzoya (Levonorgestrel and Ethinyl Estradiol tablets, and Ferrous Bisglycinate tablets) of strengths 0.1 mg/0.02 mg and 36.5 mg, Lupin said in a regulatory filing. The drug is a generic equivalent of Balcoltra (Levonorgestrel and Ethinyl Estradiol Tablets, USP and Ferrous Bisglycinate Tablets) 0.1 mg/0.02 mg and 36.5 mg, of Avion Pharmaceuticals LLC, it added. The product will be manufactured at Lupin's Pithampur facility in India, the company said. Minzoya tablets are indicated for use by females of reproductive potential to prevent pregnancy. Levonorgestrel and Ethinyl Estradiol tablets, and Ferrous Bisglycinate tablets had estimated annual sales of USD 42 million in the US, the company said citing IQVIA MAT

India's stand on IPRs, pharma help promote growth of generic industry: GTRI

India's stand on intellectual property rights (IPRs) and pharma issues in proposed trade agreements balances innovation with public health needs, ensures availability of affordable medicines and promotes growth of generic medicine industry, a GTRI report said on Friday. Think tank Global Trade Research Initiative (GTRI) said that by opposing demands of developed nations on issues like 'data exclusivity' and 'patent linkage' in free trade agreements (FTAs), India ensures that generic drug manufacturers get greater market access and cost of life-saving medicines gets reduced significantly. "India's approach underscores a commitment to balancing innovation with public health needs, adopting a flexible interpretation of TRIPS to align with its developmental goals, and preventing the establishment of unfair monopolies, especially in the pharmaceutical sector," the GTRI paper said. It added that this stance reflects a broader effort to protect traditional knowledge and ensure the ...

Pfizer agrees to pay $93 million to settle Lipitor antitrust lawsuit

Attorneys for Lipitor purchasers including Rochester Drug Co-Operative Inc and Puerto Rico's Drogueria Betances LLC disclosed the agreement in a filing on Wednesday in US court in Trenton, New Jersey