Page 31 - Pharma Sector

Uttar Pradesh government eyes 10-12% share in India's pharma sector

UP has signed memorandums of understanding with more than 80 CSIR and DRDO labs for research and development on affordable drugs

Industry has potential to grow to $200 bn in value by 2030: Pharma Secy

The domestic pharmaceutical industry has the potential to grow by 4-5 times to around USD 200 billion in value terms by scaling up manufacturing and enhancing exports, a senior government official said on Friday. He noted that to reach a size of USD 200 billion by 2030 from around USD 50 billion currently, the industry needs to grow in double digits year-on-year while reducing dependence on imports and focussing on expanding exports. "The age of smart medicine is dawning upon us. The new therapies that will come to the fore in the next 20 to 30 years would deliver smart therapies virtually for every difficult illness that we know of today. We have to be ready for that age. We have to prepare for that age," Department of Pharmaceuticals Secretary Arunish Chawla said at a CII event here. He said the government is helping the industry with various policy initiatives, including production-linked incentives. "At USD 50 billion in 2020, we were a little over 10 per cent of our manufactur

AstraZeneca Pharma India plans to sell its production plant in Bengaluru

AstraZeneca Pharma India plans to sell its production facility in Bengaluru as part of a strategic review of global manufacturing and supply network by its parent, according to a regulatory filing. The company remains committed to advance access to innovative medicines in India, with a clear ambition to be pioneers in science, lead in specialist disease areas, and transform patient outcomes, AstraZeneca Pharma India said in a regulatory filing on Thursday. "As a part of AstraZeneca's ongoing strategic review of its global manufacturing and supply network, the company intends to exit the manufacturing site in Bangalore, in due course," it added. The company will position the manufacturing site for sale in a fully operational manner and begin a search for a buyer who can also act as a contract manufacturing organisation (CMO) for its products currently manufactured or packaged at the site, subject to receipt of necessary statutory approvals, the drug firm said. The company is fully .

Indian pharma firm recalls 27 types of eyedrops in US made for CVS, Walmart

The Food and Drug Administration warned consumers last month not to purchase or use store-brand eyedrops from Walmart Inc., CVS Health Corp., Target Corp. and other companies

Biocon Biologics targets top three biosimilar spot: Shreehas Tambe

The opportunity ahead of us is massive because over the next 10 odd years until 2032, we see 55 blockbuster molecules and biologics going out or losing exclusivity, says Tambe

Lupin ties up with Amman Pharma for commercialisation of biosimilar product

Drug firm Lupin on Friday said it has tied up with Amman Pharma to market a biosimilar product in the Middle East region. The company has inked a licensing pact for the commercialisation and marketing of Ranibizumab, a biosimilar of Lucentis, in various countries including Saudi Arabia, UAE, Iraq and Lebanon. Ranibizumab is indicated for the treatment of patients with neovascular age-related macular degeneration, macular edema following retinal vein occlusion (RVO) and diabetic macular edema, among others. Shares of the company on Friday ended 2.04 per cent down at Rs 1,180.20 apiece on the BSE.

Lupin, Amman Pharma collaborates for exclusive marketing of Ranibizumab

Lupin Limited has partnered with pharmaceutical manufacturer Amman Pharmaceuticals Industries for exclusive marketing and commercialisation of Ranibizumab in the West Asian region

Lupin's net profit jumps nearly four-fold on strong US growth, stock up

US sales cross $200 million for the first time in two years, beat analyst expectations

Divi's Laboratories Q2FY24 result: Net profit dips 29% to Rs 348 crore

Divi's Labs Q2 result: The revenue from operations, however, rose 3 per cent to Rs 1,909 crore in the period from Rs 1,855 crore last year

Sun Pharma Q2FY24 results: Net profit surges 5% to Rs 2,375.5 crore

Sun Pharma Q2 results: As compared to Rs 2,022.5 crore in the previous quarter, the net profit was up 17.4%

UK officials pressured to drop IP law demands in India trade talks

Critics say the changes would damage India's position as a leading provider of generic drugs - essentially "copycat" versions of those which fall out of patent

Mankind Pharma Q2 results: Consolidated net profit rises 21% to Rs 511 cr

Mankind Pharma on Tuesday said its consolidated net profit increased by 21 per cent to Rs 511 crore for the second quarter ended September 30, 2023, on the back of robust performance across segments. The company had reported a net profit of Rs 422 crore in the July-September period of the last fiscal. Revenue from operations rose to Rs 2,708 crore in the period under review from Rs 2,425 crore in the year-ago period, Mankind Pharma said in a regulatory filing. "The past strategic choices in various aspects of our business are showing success, and we are confident in our ability to consistently surpass the industry growth in future," Mankind Pharma Vice Chairman & Managing Director Rajeev Juneja said. Shares of Mankind Pharma on Tuesday ended 0.7 per cent lower at Rs 1,741.10 apiece on the BSE.

Ajanta Pharma Q2 results: Consolidated profit up 25% at Rs 195 crore

Ajanta Pharma Ltd on Tuesday reported a 24.71 per cent rise in consolidated net profit at Rs 195.3 crore for the second quarter ended September 30, 2023. The company had posted a consolidated net profit of Rs 156.6 crore in the same quarter last fiscal, Ajanta Pharma said in a regulatory filing. Consolidated revenue from operations was at Rs 1,028.44 crore as against Rs 938.10 crore in the year-ago period, it added. Total expenses were marginally lower at Rs 773.8 crore as compared to Rs 775.45 crore in the corresponding period a year ago, the company said. Branded generic business in India sale was at Rs 355 crore as against Rs 314 crore in the same quarter last fiscal, while the total branded generic business sales across geographies was at Rs 743 crore in Q2 as compared to Rs 711 crore in the year-ago period, up 4 per cent, it said. In the US, the generic business posted sales of Rs 237 crore as compared to Rs 185 crore in Q2 last fiscal, up 28 per cent, the company added.

US sales momentum, upward revision in margin guidance to support Cipla

The company's market share in Lanreotide (growth hormone disorder drug) improved from 18 per cent in Q1FY24 to 20 per cent now

Healthcare and pharma sector sees surge in high-value deals: Report

The Private Equity (PE) sector experienced a decline in both values and volumes compared to the previous quarter

Cipla surges 4% on beating Q2 estimates; profit jumps 43%, revenue up 15%

The positive growth was aided by strength in domestic as well as US sales. Its overall Q2 revenue was its highest ever in a quarter, Cipla said.

Dr Reddy's Laboratories Q2 results: Net profit rises 33% to Rs 1,480 crore

The company said that the Ebitda was enabled by geographic diversification and productivity improvement in operations

Cipla profit rises 45% to Rs 1,156 cr, sales up 14.4% to Rs 6,590 cr in Q2

Consolidated total revenue from the sale of products in the quarter under review stood at Rs 6,589.22 crore, up 14.41 per cent, as against Rs 5,759.28 crore in the year-ago period

Cipla Q2 net profit seen rising 25% YoY; US sales may drop QoQ to $215 mn

Cipla Q2FY24 result preview: On a sequential basis (QoQ), Cipla's net profit is seen declining 1.1 per cent, while revenue may grow 2.2 per cent

Aurobindo Pharma arm receives FDA nod for Testosterone Cypionate injection

According to research firm IQVIA, the approved product has an estimated market size of $226.8 million for the twelve months ending August 2023