Page 45 - Pharma Sector
PM to inaugurate first global innovation summit of pharma sector on Nov 18
Modi will inaugurate the First Global Innovation Summit of the Pharmaceuticals sector on November 18, 2021 at 4 PM via video conferencing, said a press release from the Prime Minister Office
 "PM to inaugurate first global innovation summit of pharma sector on Nov 18")
Ipca Labs second quarter net profit declines 6% to Rs 250 crore
The board declared an interim dividend of Rs 8 per share
 "Ipca Labs second quarter net profit declines 6% to Rs 250 crore")
Suven Pharma second quarter net profit up 31% at Rs 97 crore
The Hyderabad-based company primarily operates in the contract development and manufacturing operations (CDMO) segment
 "Suven Pharma second quarter net profit up 31% at Rs 97 crore")
Sun Pharma second quarter net profit rises 13% to Rs 2,047 crore
The company had posted a net profit of Rs 1,812.79 crore for the corresponding period of the previous fiscal
 "Sun Pharma second quarter net profit rises 13% to Rs 2,047 crore")
Pharma funds lag sectoral peers despite Covid tailwind as US market weighs
In the year to date, the Nifty pharma index has returned 8.8 per cent, with 10 of its constituents giving negative returns
 "Pharma funds lag sectoral peers despite Covid tailwind as US market weighs")
Ajanta Pharma second quarter profit rises 15% to Rs 196 crore
Shares of the company were trading 1.17 per cent down at Rs 2,102.80 apiece on the BSE
 "Ajanta Pharma second quarter profit rises 15% to Rs 196 crore")
Biocon net rises 11% in Q2 to Rs 188 cr, revenue up 10% at Rs 1,945 cr
Revenue growth was primarily driven by good performance of its research services and biosimilars business segments
 "Biocon net rises 11% in Q2 to Rs 188 cr, revenue up 10% at Rs 1,945 cr")
New-age pharmacy start-ups tap 'kirana' networks, eye US market
New entrants in the largely unorganised Indian pharmaceuticals market are trying out innovative ways to tap a vast market that lies in hinterland
 "New-age pharmacy start-ups tap 'kirana' networks, eye US market")
Cipla to sell Eli Lilly's insulin products Humalog, Trulicity in India
Only 3 firms - Novo Nordisk, Sanofi, and Eli Lilly - supply insulin to patients in the US. These three companies, commonly called the 'Big Three', control over 90 per cent of the global insulin market
 "Cipla to sell Eli Lilly's insulin products Humalog, Trulicity in India")
N Govindarajan steps down as Aurobindo Pharma managing director
Govindarajan has decided to step down due to "personal reasons", Aurobindo Pharma said in a regulatory filing
 "N Govindarajan steps down as Aurobindo Pharma managing director")
RPG Life Sciences hits record high, zooms 51% so far in September
The domestic formulations business of the company will continue to focus on building chronic therapies, expanding specialty portfolio and life cycle management of current legacy products
 "RPG Life Sciences hits record high, zooms 51% so far in September")
Vivek Chaand Sehgal resigns as director from Sun Pharmaceutical board
Drug firm Sun Pharmaceutical Industries on Friday said Vivek Chaand Sehgal has resigned as an independent director of the company with effect from September 1.
 "Vivek Chaand Sehgal resigns as director from Sun Pharmaceutical board")
Lupin, Glenmark shift focus to inhalation and nasal Covid-19 drugs
Lupin working on remdesivir powder inhaler; Glenmark to do trials on Nitric Oxide Nasal Spray
 "Lupin, Glenmark shift focus to inhalation and nasal Covid-19 drugs")
Pharma industry to surpass $60 bn by FY24 from $45 bn in FY21: Report
The pandemic push will lead to an 11 per cent annual growth for the pharma sector over the next two years and help it surpass USD 60 billion from around USD 45 billion in FY21, according to a report.
 "Pharma industry to surpass $60 bn by FY24 from $45 bn in FY21: Report")
3 reasons why pharma's 'underperformer' tag at markets could change soon
Resolution of supply chain issues, defensive buying and index inclusion are triggers
Aurobindo Pharma's Rs 450-cr deal to acquire 51% in Cronus Pharma cancelled
Aurobindo Pharma Ltd on Friday said its Rs 450-crore deal to acquire 51 per cent stake in Cronus Pharma Specialities India Pvt Ltd (Cronus) has been cancelled
Shapoorji Mistry and Dadachanji-led Kaisha Group to enter pharma space
Plans to launch brands in antacids, analgesics, blood thinners, bump up hiring
 "Shapoorji Mistry and Dadachanji-led Kaisha Group to enter pharma space")
Exporters want steel, pharmaceuticals sectors under RoDTEP scheme
The RoDTEP guidelines do not include sectors such as steel, organic & inorganic chemicals, and pharma under the scheme
 "Exporters want steel, pharmaceuticals sectors under RoDTEP scheme")
Serum Institute buys 50% stake in pharma packaging firm Schott Kaisha
The joint venture is for pharmaceutical packaging
 "Serum Institute buys 50% stake in pharma packaging firm Schott Kaisha")
JB Chemicals & Pharmaceuticals posts Rs 119 crore profit April-June
Drug firm JB Chemicals & Pharmaceuticals on Thursday reported a consolidated net profit of Rs 119.05 crore for the quarter ended on June 30, 2021. The company had posted a net profit of Rs 119.50 crore for the corresponding period of the previous fiscal, JB Chemicals & Pharmaceuticals said in a filing to BSE. Consolidated revenue from operations of the company stood at Rs 606 crore for the quarter under consideration. It was Rs 522.3 crore for the same period a year ago, it added. "The organisation continues its strong performance well in the first quarter of the financial year. On the domestic front, we are one of the fastest growing companies in the industry," JBCPL CEO and Wholetime Director Nikhil Chopra said. While demand trends in international business continue to be volatile (given the COVID situation); the company's key markets like the US, South Africa have outperformed and even Russia/ CIS are seeing gradual signs of revival, he added. Shares of JB Chemicals & ..