Page 32 - Pharma Sector

Advent International announces new board, mgt team of Suven Pharmaceuticals

Global private equity firm Advent International on Friday announced a new board and management of Suven Pharmaceuticals after completing the acquisition of a majority stake in the domestic drug maker. Suven Pharma will be led by a management team comprising Annaswamy Vaidheesh (Executive Chairman), Dr V Prasada Raju (Managing Director) and Dr Sudhir Kumar Singh (Chief Executive Office), Advent International said in a statement filed on BSE by Suven Pharma. In terms of the Board of Directors, along with Vaidheesh and Raju, Pankaj Patwari, Managing Director at Advent, will also join the team, it added. Suven will also have three independent directors - - K.G Ananthakrishnan, Ex-MD MSD India and Ex-Director General of OPPI, and Chairman of PNB; Matangi Gowrishankar, Ex-BP Global Head of Capability Development, and Ex-Director of Human resources, Castrol India, Strategic Advisor and Certified coach; Vinod Rao, former head of investor relations at Diageo and ex-CFO PepsiCo Asia ...

Pharma firm Valiant Lab's IPO subscribed 2.17 times on third day of bidding

The Initial Public Offering (IPO) of pharmaceutical ingredient manufacturing firm Valiant Laboratories was subscribed 2.17 times on the third day of bidding on Friday. The initial share sale received bids for 1,65,77,925 shares against 76,23,030 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) was subscribed 3.11 times while the quota for non-institutional investors got subscribed 1.51 times. The portion for Qualified Institutional Buyers (QIBs) received 1.04 times subscription. Price range for the offer is Rs 133-140 a share. The IPO is an entirely fresh issuance of up to 1.08 crore equity shares. Proceeds of the issue will be utilised to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary -- Valiant Advanced Sciences Private Ltd -- and to meet the working capital requirements of the subsidiary company. Valiant Laboratories is an active pharmaceutical ingredient or bulk drug manufacturing company with it

Novo Nordisk India head eyes 2026 Wegovy launch, warns against copycats

Wegovy, a weekly injection, is the most effective treatment approved for weight-loss to date at a time when global obesity rates are at a record high

BDR Pharma launches generic drug for fungal infections at 1/3rd the cost

Zisavel capsules will be available as 100 mg capsules and will be priced at Rs 7,992 for 7 capsules

Missouri's CVS pharmacists plan more walkouts over working conditions

After the walkouts began Thursday, the chain dispatched Chief Pharmacy Officer Prem Shah to meet Tuesday with the pharmacists

Govt rolls out Rs 5,000 cr scheme for innovation in pharma, medtech

The PRIP scheme has two main components - the first one would focus on infrastructure building

Pharma sector must focus on innovation to become global leader: Minister

Union health minister Mansukh Mandaviya on Tuesday asked domestic pharmaceutical industry to focus on the research and development of innovative products to move up the value chain and achieve global leadership. Mandaviya, who also holds the Chemical and Fertilisers portfolio, asked medical technology companies to produce critical equipment in India for the global markets. While formally unveiling the National Policy on Research & Development and Innovation in the Pharma-Med Tech Sector here, Mandaviya said the domestic pharmaceutical companies invest less on research and development when compared to multinational companies. "International MNCs spend 20-25 per cent of their profits in research and innovation while for Indian companies the average is around 10 per cent...Till the time we do not come out with research-led innovative products, we cannot lead the segment globally," he noted. He said the government wants to make the pharma industry self-reliant by 2047. "Today is a ...

Cough syrup deaths overseas prompts US crackdown on toxic testing

The manufacturers include U.S.-based companies and exporters from India, South Korea, Switzerland, Canada and Egypt

Pharma industry needs to focus on innovative products, says Mandaviya

The domestic pharmaceutical industry needs to focus on the research and development of innovative products in order to move up the value chain and achieve global leadership in the sector, Union minister Mansukh Mandaviya said on Tuesday. The Union health minister, who also helms the Chemical and Fertilisers ministry, asked the medical technology companies to produce critical equipment in India for the global markets. While formally unveiling the National Policy on Research & Development and Innovation in the Pharma-Med Tech Sector here, Mandavya said the domestic pharmaceutical companies invest less on research and development when compared to multinational companies. "International MNCs spend 20-25 per cent of their profits in research and innovation while for Indian companies the average is around 10 per cent...Till the time we do not come out with research-led innovative products, we cannot lead the segment globally," he noted. He said the government wants to make the pharma ...

Strides Pharma to spin off CDMO, soft gelatin biz into a new entity

The company's board has approved a scheme of arrangement amongst Strides Pharma Science, Steriscience Specialties and Stelis Biopharma, the drug firm said in a regulatory filing

Abbott India warns of laxatives shortage in tussle with Goa regulator

The two laxative brands together have estimated annual sales of $70 million in India, healthcare data firm Pharmarack says

Biocon Biologics gains EU approval for Aflibercept biosimilar, YESAFILI

According to market research firm IQVIA, Aflibercept generated about $1.8 billion in annual sales in the EU in 2022

Aurobindo's Andhra plant receives 1 observation from USFDA after inspection

Aurobindo Pharma on Wednesday said the US health regulator has issued a Form 483 with one observation after inspecting a formulation production facility of its unit in Andhra Pradesh. The US Food and Drug Administration (US FDA) inspected the Unit IV of APL Healthcare Ltd, a wholly-owned subsidiary of the company, in Tirupati district of Andhra Pradesh from September 13-19, 2023, the Hyderabad-based drug major said in a regulatory filing. At the end of the inspection, a Form 483 was issued with one observation which is procedural in nature, it added. "We will respond to the US FDA within the stipulated timelines and work closely with US FDA to close the observation at the earliest," Aurobindo Pharma stated. As per the USFDA a Form 483 is issued to a firm's management at the conclusion of an inspection when the investigator has observed any conditions that may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts. Shares of Aurobindo Pharma were trading ...

Govt may soon tweak PLI schemes for pharma, textiles to boost investment

The government may soon tweak the production-linked incentive scheme for pharmaceuticals, drones and textiles sectors to encourage investment and boost manufacturing, an official said. These sectors have been identified after inter-ministerial consultations on the performance of the scheme for various products. The official also said that disbursement of production-linked incentives (PLI) for white goods (AC and LED lights) would start this month and that would push the amount of disbursement, which was only Rs 2,900 crore till March 2023. The scheme was announced in 2021 for 14 sectors such as telecommunications, 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. "We have identified the sectors. We are going to send the combined note to seek approval of the Union Cabinet. The changes include extending some ti

Drugmaker Biocon appoints Peter Bains as group CEO effective immediately

Bains, who was named as an independent director of the Biocon board in December last year, stepped down on Monday to assume the top charge, the company said in a statement

Zydus Lifesciences gets USFDA nod for pregnancy prevention medication

The company said that this is the third hormonal transdermal patch to be approved from Zydus' generics portfolio

India to procure 20 more doses of monoclonal antibody for Nipah treatment

India will procure from Australia 20 more doses of monoclonal antibody for the treatment of Nipah virus infection, ICMR DG Rajeev Bahl said on Friday. "We got some doses of monoclonal antibody from Australia in 2018. Currently the doses are available for only 10 patients," he said. According to him, no one so far has been administered the medicine in India. "Twenty more doses are being procured. But the medicine needs to be given during the early stage of the infection," he said, adding it can only given as compassionate use medicine. Bahl also said mortality among the infected is very high in Nipah (between 40 and 70 per cent) in Nipah compared to the mortality in Covid, which was 2-3 per cent. He asserted that all efforts are on to contain the spread of the virus in Kerala. All patients are contact of an index patient, he said. On why cases keep surfacing in Kerala, Bahl said, "We do not know. In 2018, we found the outbreak in Kerala was related to bats. We are not sure how th

Goa state warns Abbott India on antacid Digene license suspension

The state authorities have given Abbott seven days to respond to the notice to defend its position

Sun Pharma, Pharmazz enter agreement to introduce Sovateltide in India

Sun Pharma said in a filing that it has been granted rights for marketing Sovateltide in India under the brand name Tyvalzi

NHRC sends notice to Centre, DGCI over circulation of falsified drugs

The NHRC has issued notices to the Union health ministry and the Drugs Controller General of India over the reported circulation of falsified liver drug Defitalio and cancer drug Adcetris, officials said on Wednesday. The National Human Rights Commission, in a statement, observed that the content of the news report, if true, raises a serious issue of violation of human rights, which is a matter of concern, it said. The NHRC has taken "suo motu cognisance of a media report that after the alert from the World Health Organization (WHO), the Central Drugs Standard Control Organization (CDSCO) has asked the state regulators, doctors and patients to remain vigilant about two medicines - liver drug Defitalio and cancer drug Adcetris, as the falsified versions of these drugs are circulating in four countries, including India", it said. "Reportedly, the falsified versions of Adcetris injection 50 mg, detected in four countries, including India, are most often found to be available at the ...