Page 31 - Pharma Sector

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

Indian pharma industry relies heavily on ingredients made in China: Report

America's reliance on China for drug ingredients has raised alarm bells in Congress. House committees will hold two hearings Tuesday on drug shortages

Alembic Pharma Q3 results: Profit up 48% as raw material cost declines

This increase in PAT was attributed to tax deduction, decline in the cost of materials consumed, and improvement in Ebitda

Abbott Q3 results: Profit rises 26% to Rs 311 cr on strong demand

The company, which makes popular antacid medicine Digene, said its profit rose to 3.11 billion rupees ($37.5 million) from 2.47 billion rupees a year earlier

Mankind Pharma Q3 results: PAT up 55% on strong domestic performance

Mankind's revenue from operations rose to Rs 2,607 crore in Q3 FY24, a 25 per cent Y-o-Y rise in revenue from operations from Rs 2,128 crore in Q2 FY23

Pfizer posts surprise 4th quarter profit, but key products miss on sales

The New York-based drugmaker earned 10 cents per share on an adjusted basis for the fourth quarter. Analysts on average had expected a loss of 22 cents per share, according to LSEG data

Dr Reddy's Lab Q3 results: PAT up 11%, beats estimates on strong US sales

The Hyderabad-based drug major had reported a net profit of Rs 1,247 crore for the October-December quarter of the last fiscal

Launch delays key risk to outlook for pharma company Cipla stock

The company reported a 13.7 per cent increase in sales to Rs 6,603 crore led by 11.5 per cent growth in the India business

SSWC&MA approves Rs 1,937 cr project proposals for industrial expansion

The State Single Window Clearance & Monitoring Authority (SSWC&MA) has approved 27 project proposals for setting up new industrial enterprises and undertaking substantial expansion of existing units with proposed investment of around Rs 1,937 crore. SSWC&MA has approved Rs 1,937 crore project proposals and employment opportunities for 2,715 people, according to a press statement issued here on Saturday. The decision was taken during the 28th meeting of the SSWC&MA, which was presided over by Chief Minister Sukhwinder Singh Sukhu. The new proposals approved by the Authority include proposals of Xenone Healthcare and Master Formulations CO for manufacturing of tablets, capsules and ointments. Some of the other approved proposals include that of Gowthami Aquachem for manufacturing of Sodium Chlorite, Him Deep Alkalies Chemical for manufacturing of Caustic Soda Liquid, Hydrogen and Chlorine, Agro Farm Ventures for setting up a cold store, Scottill Healthcare for ...

Indian firms corner more of growing pharma market as MNCs go niche

Indian drug firms are focussing on expanding their salesforce and distri­bution, while getting into trade generics to garner volumes

Pharma sector can be of $200 bn by 2030 on innovative drugs: Biocon chief

Research-based incentives to develop innovative drugs can help the domestic pharmaceutical sector to be worth USD 200 billion by 2030, Biocon Executive Chairperson Kiran Mazumdar-Shaw said on Wednesday. Terming the pharmaceutical sector as a great contributor in the country's economic growth, she noted that the industry has even greater potential to grow in the years to come. "India's pharma industry size is estimated at about USD 65 billion today. And by 2030, it is expected to increase to USD 165 billion. Now, I believe it has a potential to even be greater and touch USD 200 billion by 2030," Mazumdar-Shaw told PTI. But such a level of growth cannot just be driven by generics and biosimilars, it has to involve drug innovation, she noted. "We have time to develop new drugs which could be blockbusters and I think what is required are research incentives to drive this kind of growth," Mazumdar-Shaw stated. The government has already come out with various research-linked incentive .

Lupin secures a tentative USFDA approval for Rivaroxaban tablets

Lupin boasts 15 manufacturing sites, 7 research centres, and a global team of more than 20,000 professionals

Granules Q3 results: Profit rises marginally by 1.6% to Rs 126 crore

The company's consolidated profit rose 1.6% to 1.26 billion rupees (nearly $15 million), according to an exchange filing

Q3 result preview: US, India to aid revenue growth for Pharma Inc

In the healthcare segment, hospitals are expected to post revenue growth of 13 percent during the coverage, while the net profit growth would be around 37 percent, ICICI Securities said in a note

Cipla Q3 results: Profit rises 32% to Rs 1,056 crore, beats estimates

The Mumbai-based company had posted a consolidated net profit of Rs 801 crore in the year-ago period, Cipla Ltd said in a statement

Bayer AG to hold off breakup plans despite investor pressure: Report

CEO Bill Anderson, at the helm since June last year, said in November he is weighing options to break apart the diversified company in a staggered fashion but would not rule out keeping all businesses

Lupin gets USFDA nod to market generic hyperuricemia treatment drug

Pharma major Lupin Ltd on Thursday said it has received approval from the US health regulator to market its generic Febuxostat tablets, indicated for the chronic management of hyperuricemia in adult patients with gout. The approval by the US Food and Drug Administration (USFDA) is for the abbreviated new drug application for Febuxostat tablets of strengths 40 mg and 80 mg, a generic equivalent of Uloric tablets, 40 mg and 80 mg, of Takeda Pharmaceuticals USA, Inc, Lupin said in a regulatory filing. The product will be manufactured at the company's Pithampur facility in India, it added. The company said Febuxostat tablets of strengths 40 mg and 80 mg are indicated for the chronic management of hyperuricemia (elevated serum uric acid level) in adult patients with gout who have an inadequate response to a maximally titrated dose of allopurinol; who are intolerant to allopurinol, or for whom treatment with allopurinol is not advisable. Febuxostat tablets had estimated annual sales of U

Lupin receives USFDA approval to market generic hypertension drug

Drug maker Lupin on Sunday said it has received approval from the US health regulator to market a generic hypertension drug in America. The company has received approval from the US Food and Drug Administration (USFDA) for Propranolol Hydrochloride extended-release capsules in multiple strengths, Lupin Ltd said in a regulatory filing. The company's product is the generic version of ANI Pharmaceuticals' Inderal LA extended-release capsules, it added. The product will be manufactured at the company's Pithampur-based manufacturing plant, the drug firm stated. Propranolol Hydrochloride extended-release capsules USP are indicated in the management of hypertension. They may be used alone or in combination with other antihypertensive agents, particularly a thiazide diuretic. As per IQVIA MAT November 2023 data, Propranolol Hydrochloride extended-release capsules had estimated annual sales of USD 71 million in the US.