Page 26 - Pharma Sector

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

Utkarsh Small Finance Bank proposes reverse merger with holding entity

The bank has said it has taken note of the proposal and the Board of Directors of the lender will meet in due course and evaluate the proposal and other options to achieve regulatory compliance

Gland Pharma Q3 results: Net porfit at Rs 192 cr, revenue at Rs 1,545 cr

Gland Pharma on Wednesday said its consolidated Profit After Tax (PAT) stood at Rs 192 crore for the December quarter. The drug firm had reported a PAT of Rs 232 crore in the year-ago period. The company's revenue from operations stood at Rs 1,545 crore for the October-December period, up from Rs 938 a year ago. The results for the quarter under review and the nine months of the current fiscal are not comparable to the earlier periods of the previous year due to the inclusion of Cenexi results, the Hyderabad-based company said. On November 29, 2022, the Hyderabad-based drug Contract Development and Manufacturing Company (CDMO) had entered into a put option agreement to acquire Cenexi Group for up to 120 million euros, marking its foray into the international markets. "In the ex-Cenexi base business, we are happy to keep up with the growth aspirations, and the performance has been encouraging with the introduction of new products and improved volumes of the current basket," Gland .

Natco Pharma Q3 results: Net profit rises over 3-fold to Rs 212.7 crore

Natco Pharma Ltd on Wednesday reported over three-fold rise in consolidated net profit at Rs 212.7 crore in the third quarter ended December 31, 2023 on the back of robust revenue growth. The company had posted a consolidated net profit of Rs 62.3 crore in the same period last fiscal, Natco Pharma said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 758.6 crore, as against Rs 492.5 crore in the year-ago period, it added. Total expenses were higher at Rs 539.3 crore, up from Rs 431.9 crore in the same quarter last fiscal, the company said. There was strong growth across businesses compared to last year, Natco said, adding it is confident of its strategy going forward. Revenue from export of formulations was at Rs 605.6 crore in the third quarter, up from Rs 333.7 crore in the year-ago period. However, domestic formulations revenue was down at Rs 99.4 crore, as compared to Rs 101.1 crore in the corresponding period last fiscal, i

Wockhardt Q3 results: Loss narrows to Rs 86 cr, revenue up marginally

Pharmaceuticals firm Wockhardt Ltd on Wednesday reported narrowing of consolidated net loss to Rs 86 crore for the third quarter ended December 31, 2023. The company had incurred a loss of Rs 102 crore in the third quarter last fiscal, Wockhardt Ltd said in a regulatory filing. Revenue from operations during the quarter under review stood at Rs 701 crore as compared to Rs 699 crore in the year-ago period, the company said. Total expenses were lower at Rs 796 crore as against Rs 803 crore in the same period last fiscal.

Eris Lifesciences Q3 results: Profit flat at Rs 102 crore, revenue up 16%

On a sequential basis, the company saw a 3.40 per cent decline in revenue along with Profit After Tax (PAT), which also declined by 16.77 per cent

Dr Reddy's Laboratories R&D facility gets VAI status in USFDA inspection

Last year in December, during the Good Manufacturing Practice (GMP) and Pre-Approval Inspection at the same facility concluded with three observations

Aurobindo Pharma Q3 results: Profit up 91.43%, revenue rises 14.7%

The company's revenue from formulations increased by 17.2 per cent Y-o-Y to Rs 6,291 crore. Sequentially, it was up by 5.4 per cent from Rs 5,968 crore in Q2 FY24

Zydus Lifesciences Q3FY24 results: Profit up 27% at Rs 790 crore

Zydus Lifesciences on Friday said its consolidated net profit increased by 27 per cent to Rs 790 crore in the third quarter ended December 31, 2023. The drugmaker had reported a net profit of Rs 623 crore in the October-December period a year ago. Revenue increased to Rs 4,505 crore in the third quarter from Rs 4,257 crore in the year-ago period, Zydus Lifesciences said in a statement. The company said its board has approved a proposal to buy back shares of up to Rs 600 crore. "We are pleased with our Q3 FY24 performance, particularly with a strong recovery in the domestic formulations business and a resilient US base business," Zydus Lifesciences Managing Director Sharvil Patel said. He further said: "We are optimistic about our growth prospects driven by a differentiated portfolio in the US, continued performance of key brands, well supported by a robust execution engine." The company remains on track to end the fiscal year 2024 with a healthy double-digit revenue growth, Patel

Promoters of Mankind Pharma divest 1.6% stake worth Rs 1,367 crore

Mankind Pharma promoters on Thursday divested a 1.62 per cent stake in the company for Rs 1,367 crore through open market transactions. According to the block deal data available with the NSE, promoters Sheetal Arora, Puja Juneja, and Arjun Juneja offloaded a total of 64,89,534 shares in two tranches each, representing a 1.62 per cent stake in Mankind Pharma, on the NSE. The shares were disposed of at an average price of Rs 2,107.35 apiece, taking the combined deal value to Rs 1,367.57 crore. Through the latest transaction, the combined shareholding of promoter and promoter group entities have declined to 74.88 per cent stake from 76.50 per cent stakeholding (as of December quarter) in Mankind Pharma. As per market regulations, all listed companies must maintain an minimum public shareholding of 25 per cent, while newly-listed firms are given three years to meet the requirement of 25 per cent public float. Accordingly, after the stake sale, the company has complied with the norms

Biocon Q3FY24 results: Net profit at Rs 660 crore, revenue up 50%

Biocon's overall growth was boosted by the conclusion of the transition of the acquired business by Biocon Biologics and pre-payment of $200 million towards the acquisition-related debt reduction

Health tech startup Neodocs raises Rs 16.6 cr in seed funding round

Company that makes smartphone-based medical test kits will use the financing to expand business

P&G Health Q2 results: Net profit dips 6% to Rs 72 cr, income at Rs 315 cr

Procter & Gamble Health Ltd on Tuesday said its profit after tax declined 6 per cent to Rs 72 crore for the second quarter ended December 2023. The company had reported a Profit After Tax (PAT) of Rs 77 crore in the October-December period of the last fiscal. Total income for the period under review stood at Rs 315 crore as against Rs 314 crore in the year-ago period, Procter & Gamble Health said in a regulatory filing. The company follows a July-June financial year. "This has been a challenging quarter for the company on account of an overall slowdown in the vitamins, minerals and supplements category coupled with a delayed seasonal onset," P&G Health India MD Milind Thatte said. With improved productivity, efficiency and continued strategic investments, the company has been able to deliver a modest topline and bottomline, he added. The company said its board has declared an interim dividend of Rs 200 per share for the financial year 2023-24. Shares of the company settled