Page 33 - Pharma Sector

India's bio-economy grew from $10 bn to $80 bn in 8 years: Mandaviya

India's bio-economy has grown eight times in the last eight years from USD 10 billion to USD 80 billion, Union Health Minister Mansukh Mandaviya said on Monday, underlining that in the coming times, biotechnology will become the biggest foundation for medical treatment. The Indian biotech industry aims at growing to USD 150 billion by 2025 and USD 300 billion by 2030, he noted while virtually addressing an event "Biotechnology: The Path of Innovation and Wellness for Viksit Bharat" held at the at Vigyan Bhavan in Ahmedabad. Mandaviya said India is currently among the top 12 destinations for biotechnology in the world with approximately three per cent share in the global biotechnology industry. The event, which was attended by Gujarat Chief Minister Bhupendra Patel, was held in the run up to the 10th Vibrant Gujarat Global Summit. The summit is scheduled to be held in Gandhinagar in January with the theme -- 'Gateway to the Future'. "This industry (biotechnology) will become a mediu

DRL partners with Coya Therapeutics to develop nerve disorder therapy

Amyotrophic Lateral Sclerosis (ALS) is a fatal neurological disorder characterised by progressive degeneration of nerve cells in the spinal cord and brain

Johnson & Johnson sees 2024 sales growth slowing as top drug faces rivals

The pharma and medical devices giant will soon lose its exclusivity with psoriasis treatment Stelara, which accounted for a fifth of its drug sales in the third quarter

Kenyan President invites Indian companies to set up manufacturing units

Kenyan President William Samoei Ruto, who is on a three-day visit to India, called upon companies here to establish manufacturing facilities in his country to gain access to the entire African market of around 1.4 billion people. "We have bigger opportunities in Kenya than we do in India. We also have fewer competitors in Kenya in metals business than in India and we have a higher return in Kenya than India," Ruto said. Highlighting "clear investment opportunities" in Kenya, the President said he shared with Prime Minister Modi that the African nation imports 70 per cent of its pharmaceutical commodities from India. Calling upon Indian companies to establish manufacturing facilities in Kenya, the President said doing so will provide them access to not only the Kenyan market of 50 million people but the entire African market of 1.4 billion people as Kenya is a signatory to the Africa Continental Free Trade Agreement that weaves together 55 countries into a single market of 1.4 billio

Lord's Mark Industries set to go public in 2024, aims to raise Rs 500 cr

IDBI Capital and Mirae Asset have been appointed as the merchant bankers for the listing

Samples of 59 drugs declared as 'not of standard quality', says CDSCO

Samples of 59 drugs, including those of reputed companies, were declared as "not of standard quality" in October, according to a Central Drugs Standard Control Organisation (CDSCO) alert. The CDSCO in its alert, which was issued recently, said that 1,105 samples were tested. Of the total, 61, which include two samples of unlabelled vials with white seal purported to contain Tigecycline 50 mg and two samples of phenolic disinfecting multi-purpose surface cleaner-cum-deodoriser (Lytner), were found to be "not of standard quality", it said. The count comes to 59 as samples of two drugs were repeated. The drug samples were tested at various statutory laboratories authorised by the CDSCO. The other samples termed "not of standard quality" include those of Cefixime Oral Suspension IP, Amoxycillin, Potassium Clavulanate and Lactic Acid Bacillus Tablets (GAMPCLAV-625 LB Tablets), Rabeprazole Sodium (Enteric Coated) and Domperidone (Sustained Release) Capsules (20 mg/30 mg), Diclofenac So

India, US to boost cooperation in pharma, critical minerals & emerging tech

India and the US have agreed to strengthen cooperation in sectors like pharmaceuticals, semiconductors, critical minerals and emerging technologies, an official statement said on Friday. The two countries also discussed collaborative opportunities in green and clean technologies; and strengthening partnership in critical technologies, the commerce ministry said. These key areas emerged from the discussions during the meeting of Commerce and Industry Minister Piyush Goyal and US Secretary of Commerce Gina Raimondo at a review meeting of the India-US CEO Forum virtually last night. "As both sides are focused on closer engagement based on trust, following key areas emerged from the discussions -- supply chain cooperation across pharma, semiconductors, critical minerals and energy; collaborative opportunities in green tech and scaling up manufacturing for clean tech; and strengthening partnership in critical and emerging technologies," it said. Raimondo urged the CEO Forum to seize the

65% of MSME firms found manufacturing substandard drugs since Dec: Report

The Central Drugs Standard Control Organisation (CDSCO) and state drug inspectors have been conducting inspections as part of a massive nationwide crackdown on spurious and substandard medicines

India's pharma business can reach $130 bn by 2030: Industry experts

India's pharmaceutical business may exceed USD 130 billion by 2030, supported by expanding market opportunities and heightened demand in the overseas markets, industry experts said on Tuesday. The business stood at over USD 50 billion for the 2022-23 fiscal, they noted. Chairman of PharmExcil (Pharmaceuticals Export Promotion Council of India) Veeramani S V said the Indian pharmaceutical industry is on a compelling growth trajectory, evidenced by an 8 per cent year-to-date increase in exports and a remarkable 29 per cent surge in October alone. "This growth is propelled by expanding market opportunities, heightened demand in the USA, and critical shortages of medicines in the US and Europe. Despite challenges in CIS countries, the global reception of Indian pharmaceuticals remains positive," he said. Veeramani noted that the domestic market has exhibited impressive growth, exceeding 10 per cent. "Driven by this momentum, I am confident in reaching the 130 billion mark by 2030," he

Indian pharma industry can grow to $450 bn by 2047: EY-OPPI report

The report underlines the need for collaboration and alignment between the industry, academia and government to advance research and innovation capabilities

Rusan Pharma Invests 300 Crores in New API Facility in MP's Pithampur

New plant to produce 400 MT of APIs, creating more than 300 jobs and enhancing global supply

Ryzneuta for chemotherapy-induced neutropenia receives USFDA approval

Acrotech Biopharma is preparing to commercialise Ryzneuta in the United States in the near future

Strides Pharma arm obtains USFDA nod for Levetiracetam oral solution

According to market research firm IQVIA, the Levetiracetam oral solution has a market size of $55 million

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