Page 34 - Pharma Sector

AstraZeneca sues US govt over Medicare drug price negotiation plans

The British drugmaker, which filed its complaint in a Delaware district court, joins other drugmakers and business groups claiming that the program would restrict the development of new medicines

Roche Pharma India launches customer experience centre in Chennai

Roche Pharma India launched an industry-first customer experience center to spur collaboration with healthcare professionals, researchers and educational institutions to shape the future of healthcare, the company said on Thursday. The center will offer immersive and interactive healthcare content, comprehensive insights into medical science and information about Roche's innovative, life-changing product portfolio and technologies that have redefined healthcare for over 125 years, the wholly owned subsidiary of the Basel-headquartered Roche Group, said. Doctors and other stakeholders will be able to visualise disease pathways, drug-action in the human body, and co-create better solutions leading to better patient outcomes by using the latest 4IR (Fourth Industrial Revolution) digital technologies such as Augmented Reality (AR), Virtual Reality (VR) and AI, a release here said. "The Roche Experience Center reflects the company's mission to empower communities with scientific insights

Maharashtra govt issues order on free of cost treatment at public hospitals

Health services, including treatment, in all government hospitals in Maharashtra falling under the public health department's jurisdiction have been made available free of cost for patients, the state government said on Wednesday. Medical tests, treatment and all other services provided on public-private partnership, excluding blood supply, are available free of cost to patients from August 15, said a government resolution (GR). The decision to provide free treatment and other health services at all government hospitals in Maharashtra was taken by the state cabinet in its meeting on August 3.

Wockhardt shareholders reject proposal to raise Rs 1,600 cr from promotor

Shareholders of Wockhardt have rejected a proposal to raise Rs 1,600 crore from a promoter entity, according to a regulatory filing. The board of Mumbai-based drug firm had sought shareholder approval for a related party transaction with Khorakiwala Holdings and Investments Pvt Ltd (KHIPL) to raise up to Rs 1,600 crore for a period of five years. KHIPL, a promoter entity, is an RBI registered NBFC. About 50.12 per cent votes came in against the proposal while 49.87 per cent of the votes polled favoured the resolution, Wockhardt said in a regulatory filing. In a note, proxy advisory firm IiAS said it had sought approval for the proposal but it was defeated. "Wockhardt's resolution for a related party transaction with Khorakiwala Holdings and Investments Pvt Ltd (KHIPL) for an amount up to Rs 1,600 crore for a period of five years, was defeated," it noted. IiAS said the proposed related party transaction with KHIPL was intended for borrowing of funds for an amount up to Rs 1,600 cr

Hikal appoints Berjis Desai, Ramachandra Vinnakot as independent directors

Pharmaceuticals and crop protection firm Hikal on Sunday said it has appointed Berjis Minoo Desai and Ramachandra Kaundinya Vinnakota as additional directors to its Board. The appointments as independent directors extend for five-year terms, effective October 1, 2023, pending approval by the company's shareholders, Hikal Ltd said in a statement. "Their extraordinary expertise, diverse insights, and proven leadership will undoubtedly enrich our governance and bringing heft to our strategic decisions, fostering our continued growth," Hikal Founder and Executive Chairman Jai Hiremath stated.

Govt in final stages of introducing policy to promote pharma R&D: Mandaviya

Union Health Minister Mansukh Mandaviya on Sunday said India is in the final stages of introducing a national policy to promote research and development and innovation in the pharma-medical devices sectors. India's commitment to quality, accessibility and affordability in healthcare is unwavering, particularly demonstrated during the COVID-19 pandemic, Mandaviya said in his keynote address on Sunday to the Indian industry leaders in pharmaceuticals, G20 ministers and delegates, on sidelines of the G20 health ministers meeting organised here between August 17-19. He also spoke about India's vision for the future of healthcare, centered around a transition from volume-based approaches to a value-based leadership model. "Acknowledging the paramount importance of research and development in healthcare advancement, Dr Mandaviya announced India's strides in fostering an innovative environment," a government release said. "India is in the final stages of introducing a national policy to .

Herbal pharma demand highlights traditional practices value: Mandaviya

Union Health Minister Mansukh Mandaviya on Thursday pitched for collective efforts by embracing ancient wisdom and modern science to achieve the health-related sustainable development goals. Inaugurating the WHO's first-ever Global Summit for Traditional Medicine here, the minister said it presents a unique platform for dialogue, idea exchange, collaboration, and international partnerships in the realm of traditional and complementary medicine. World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus, Union Ayush Minister Sarbananda Sonowal and Gujarat Chief Minister Bhupendrabhai Patel were present at the inaugural event. Co-hosted by the Ministry of Ayush, the summit is a co-branded event as part of the ongoing G20 Health Ministers' meeting being held in Gandhinagar in Gujarat from August 17 to 19. Mandaviya said, "For centuries, traditional and complementary medicine has played a pivotal role in promoting personal and community health. Even in modern times, th

Equitable access to diagnosis, treatment pivotal to ending TB: Mandaviya

Collaborative and collective efforts among countries in the WHO South-East Asia Region and equitable access to prevention, diagnosis and treatment options are pivotal to ending TB, Union Health Minister Mansukh Mandaviya said on Thursday, citing the lessons from the COVID-19 pandemic. Delivering the keynote address at a ministerial meeting on "Sustain, Accelerate, and Innovate to end TB in the South-East Asia Region", Mandaviya reiterated India's commitment of eliminating TB from the country by 2025, five years ahead of the global deadline. The meeting was co-chaired by WHO Director-General Tedros Adhanom Ghebreyesus here on Thursday. The event witnessed a significant milestone in the signing of the Gandhinagar Declaration, which calls for establishing a high-level multisectoral commission reporting to the highest political level in each country for synergy of efforts among various stakeholders and to monitor progress towards ending TB and other priority diseases. The declaration i

Claims about dead people taking treatment under PM-JAY not true: Govt

Media reports claiming that Ayushman Bharat PM-JAY beneficiaries who are already dead are still on the system getting treatment are misleading, the health ministry said on Thursday. The ministry also said that mobile numbers have no role in deciding beneficiary eligibility. The ministry's remarks came in response to media reports that claimed that the Comptroller and Auditor General of India (CAG) has flagged that treatments have been booked for AB PM-JAY beneficiaries who have been declared dead on the system. The reports also claim that the same beneficiary had been found to avail treatment at two hospitals at the same time. "These media reports are completely misleading and ill-informed," the ministry said. The CAG report which contains results of the Performance Audit on Ayushman Bharat Pradhan Mantri - Jan Arogya Yojana (AB PM-JAY) covering the period September 2018-March 2021 was placed in parliament in the Monsoon Session of 2023, the ministry said in a statement. "It is ..

Aurobindo Pharma gets USFDA nod to make, market generic Icatibant injection

Aurobindo Pharma on Wednesday said its wholly-owned arm Eugia Pharma Specialities has received final approval from the US health regulator to manufacture and market generic Icatibant injection used in treatment of hereditary angioedema. The approval granted by the US Food & Drug Administration (USFDA) is for Icatibant injection of strength 30 mg/3 mL (10 mg/mL), single-dose pre-filled syringe, Aurobindo Pharma said in a regulatory filing. It is the bioequivalent and therapeutically equivalent of reference listed drug FIRAZYR (Icatibant injection) by Takeda Pharmaceuticals USA Inc, it added. "The product is being launched in September 2023," Aurobindo Pharma said. The approved product has an estimated market size of around USD 137 million for the 12 months ended June 2023, the company said citing IQVIA data.

AstraZeneca Pharma India Q1 PAT jumps over two-fold to Rs 53.86 cr

AstraZeneca Pharma India Ltd on Monday reported over two-fold rise in profit after tax at Rs 53.86 crore for the first quarter ended June 30, 2023. The company had posted a profit after tax of Rs 20.15 crore in the same quarter last fiscal, AstraZeneca Pharma India said in a regulatory filing. Revenue from operations during the quarter under review stood at Rs 295.46 crore, as against Rs 232.33 crore in the year-ago period, it added. Total expenses were higher at Rs 232.17 crore, as against Rs 209.14 crore, the company said.

Abbott India posts 41% rise in Q1 profit at Rs 29 crore on strong sales

The company has reported a double-digit growth in its revenue for the past three quarters, led by falling operating expenses and steady sales

DSCO issues show cause notices to 143 pharma firms after inspections

The Central Drugs Standard Control Organisation along with state licensing authorities has conducted risk-based inspections of 162 pharmaceutical firms and issued show cause notices in 143 cases, Union Health Minister Mansukh Mandaviya said on Tuesday. In a written reply to a question in Rajya Sabha, he said stop production order has been issued in 40 cases, cancellation and suspension of product/section licenses in 66 cases, issuance of warning letter in 21 cases and in one case, an FIR has been lodged and three persons have been arrested as per the provisions of the Drugs Rules, 1945. He also said that the Directorate General of Foreign Trade, Department of Commerce, Ministry of Commerce and Industry issued a notification on May 22 for amendment in export policy of cough syrups, making it compulsory for cough syrup manufacturers to get certificate of analysis from a government-approved laboratory before exporting their products with effect from June 1. Accordingly, more than 900 .

Fierce competition among new drug brands for share of India market

The competitive intensity is high between brands, at a time when volume growth in the domestic pharma market is on a slow lane

India has started manufacturing 38 APIs in past 1.5 years: Mandaviya

India has started manufacturing 38 active pharmaceutical ingredients, or APIs, in the last one and a half years on which it was import-dependent, under the production-linked incentive (PLI) scheme for the sector, Union Health Minister Mansukh Mandaviya said here Saturday. Mandaviya said that the 2017 border standoff with China at Doklam triggered India to rethink its self-reliant strategy regarding active pharma components as it was dependent on just one country for the import of 95 per cent of APIs for the formulation industry. The health minister was speaking at the inaugural event of the Healthcare Summit organised at the Indian Institute of Management Ahmedabad (IIMA). Through the PLI scheme, we tried to ensure that the country does not have to import 54 APIs from abroad and our formulation industry gets APIs domestically. I am happy to share that in just a year and a half, India has started manufacturing 38 APIs, which is an example of Atmanirbhar Bharat, he said. The governme

Jhunjhunwala-backed Concord Biotech IPO opens today: What do analysts say?

Concord Biotech IPO: The stock is commanding a 20 per cent premium in the grey market, as per ipowatch.com

CDSCO orders Riemann Labs to stop making cough syrup linked to deaths

The Central Drugs Standard Control Organisation (CDSCO) in coordination with State Drug Controllers of Madhya Pradesh has directed pharma firm Riemann Labs to halt manufacturing of its cough syrup that was linked to deaths of children in Cameroon. "In the case of Cameroon, a joint inspection was conducted by CDSCO, sub-zone Indore with SLA, Madhya Pradesh at M/s Riemann Labs, Indore and based on the findings the State Drugs Controller MP has directed the firm to stop the manufacturing activities," Minister of State (MoS) for Health Bharati Pravin Pawar said in a written reply in Rajya Sabha on Tuesday. The World Health Organization (WHO) had on July 19 issued an alert regarding cough syrup supplied in Cameroon stating an analysis has found that the product contained "unacceptable amounts of diethylene glycol as contaminants." The makers of Naturcold listed paracetamol, phenylephrine hydrochloride, and chlorpheniramine maleate as active ingredients, and a combination of these three i

Sun Pharma Q1 profit may be weighed by weak US generic sales and Taro nos

Sun Pharma Q1 results: The company's Q1 net profit could dip fractionally by 0.15 per cent to Rs 2,058 crore against Rs 2,061 crore reported a year ago

Lupin gets USFDA approval to market generic skin treatment medication

Lupin on Wednesday said its American subsidiary has received an approval from the US health regulator to market a generic product used for treatment of skin issues. New Jersey-based Novel Laboratories Inc has received the approval from the US Food and Drug Administration (USFDA) for Fluocinolone Acetonide Topical Oil, Lupin said in a statement. The product is the generic version of Hill Dermaceuticals Inc's Derma-Smoothe/FS Topical Oil. Lupin said the product will be manufactured at its Somerset facility in the US. As per the IQVIA MAT March 2023 data, Fluocinolone Acetonide Topical Oil had estimated annual sales of USD 9 million in the US. Lupin shares were trading 0.67 per cent down at Rs 981.65 apiece on the BSE.

India finds 'violations' at cough syrup maker linked to Cameroon deaths

Authorities have stepped up scrutiny of drugmakers after some cough syrups made in India were linked to deaths of dozens of children overseas