Page 5 - Pharma

Dr Reddy's Labs slumps 5% as brokerages give 'Reduce' call post Q4 earnings

The miss was driven by lower Revlimid sales, muted growth across markets and higher R&D spends. While the prevailing US tailwinds provide stability, absence of any meaningful approvals for Dr Reddy's

Q4 Results Preview: Lupin may see strong topline, bottomline growth

Indian pharmaceutical major Lupin is set to witness a strong financial earnings on a year-on-year (Y-o-Y) basis for the fourth quarter of the financial year 2023-24 (Q4FY23)

Morgan Stanley PE, India Life Sciences Fund inject Rs 1,000 cr into Maiva

Maiva Pharma on Thursday said it has raised Rs 1,000 crore from Morgan Stanley Private Equity Asia and India Life Sciences Fund. The transaction includes both primary and secondary funding, the Bengaluru-based pure play injectables contract development and manufacturing organisation said. The two investors have jointly acquired a controlling stake from existing investors and also infused primary capital into the company, an official statement said, without disclosing the stakes picked up. This is Maiva's first private equity fundraise and the proceeds will be used to set up a new manufacturing facility near Karnataka's Hosur with capabilities in sterile dosage forms, including pre-filled syringes, bags, oncology, and hormonal injectables. It already has a facility in Hosur approved by the USFDA and other regulators that manufacture vials. "This fundraise will be used to add more vial, lyophilisation, and suspension capacity and introduce new manufacturing capabilities such as ...

Ayurveda products market in India to reach Rs 1.2 trillion by FY28: Report

India's Ayurveda product market is projected to reach USD 16.27 billion or Rs 1.2 lakh crore by FY28 from USD 7 billion or Rs 57,450 crore at present, according to a study. Ayurveda product market has experienced significant growth due to rising demand for natural and herbal remedies in local and international markets, increase in ayurvedic medical practitioners, government initiatives, and emergence of new entrepreneurs, Ayurveda tech startup NirogStreet said. Citing a survey, NirogStreet said the Ayurveda product market in India is expected to grow significantly, with projections indicating a substantial increase in market value to Rs 1,20,660 crore (USD 16.27 billion) by FY28. According to NirogStreet survey, the overall market for Ayurveda products and services is expected to grow at a CAGR of 15 per cent from FY23 to FY28, with the product and service sectors growing at a CAGR of 16 per cent and 12.4 per cent, respectively. The survey also estimated the value of the country's

Explosion at Telangana pharma plant kills director, 3 workers; 16 injured

Four persons were killed and 16 others injured due to an explosion in a chemical reactor at a pharmaceutical company's plant in Sangareddy district of Telangana on Wednesday, police and fire department officials said, adding that among the deceased is the firm's director. The blast occurred around 5 pm at the factory of SB Organics Ltd, located at Chandapur village of Hathnoora mandal of the district, and it led to a fire, they said. The plant is located about 40 km from Hyderabad International airport. The fire, which spread through the pharma unit's premises, was subsequently brought under control, the officials said. The deceased include the pharma firm's director and three workers, police said, but further details about the deceased were not immediately available. "The reactor exploded at the pharma company and people around it were thrown away in its impact...Four people have died," a senior police official told PTI. Sixteen others who suffered injuries in the incident have

AstraZeneca bets on next-generation cancer therapy with $2 bn Fusion deal

AstraZeneca will pay $21 per Fusion share, a premium of more than 97% to the US-listed company's closing price on Monday

CAPFIMS signs MoU with Aiims to run it as campus, MHA will provide funding

The Central Armed Police Forces Institute of Medical Sciences (CAPFIMS) on Saturday signed an MoU with the AIIMS to run CAPFIMS as a campus of the AIIMS here. The funds for procurement of medical equipment and furniture and the recurring cost towards operations and maintenance of the campus shall be provided to the All India Institute of Medical Sciences (AIIMS) by the Ministry of Home Affairs, an official statement said. Further, a part of the hospital beds in the campus shall be earmarked for providing healthcare services to all Central Armed Police Forces (CAPF) beneficiaries. The Union Cabinet has approved budgetary support of Rs 2,207.50 crore in the 15th Finance Commission cycle to run the CAPFIMS as a campus of AIIMS, New Delhi. Under the leadership of Prime Minister Narendra Modi, enhancing healthcare infrastructure in the country and providing world class health facilities to the people is one of the priorities of the government of India, the statement said. The MHA, unde

Billionaires spending a fortune to lure scientists away from universities

Braggadocio from startups is de rigueur, and plenty of ex-academics have started biotechnology firms, hoping to strike it rich on their one big discovery

Indian companies likely to garner up to 50% USFDA nod share in 2023

Companies may get up to 375 ANDA approvals in 2023, more than last year's 355

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

Torrent Pharma Q2 results: Profit after tax up 24% to Rs 386 crore

The company exhibited a 2.66 per cent increase in revenue and was able to turn around the PAT by 2.09 per cent

2,350 acres set aside for pharma and medical parks in Uttar Pradesh

Chief Minister Yogi Adityanath has envisioned increasing the state's contribution to the pharma industry from 2 per cent to 10-12 per cent

Valiant Labs freezes at upper circuit on debut; up 22% over issue price

At 10:03 AM; shares of Valiant Labs were locked at the 5 per cent upper circuit at Rs 170.25, up 22 per cent over its issue price of Rs 140 per share.

Natural light may help treat and prevent type 2 diabetes: Research

Exposure to natural light may help treat and prevent type 2 diabetes, according to a small study. The research, presented at the annual meeting of the European Association for the Study of Diabetes (EASD) in Germany from October 2-6, carried out a range of metabolic tests on a group of people with type 2 diabetes when they were exposed to natural light and when they were exposed to artificial light and compared the results. "The misalignment of our internal circadian clock with the demands of a 24/7 society is associated with an increased incidence of metabolic diseases, including type 2 diabetes," said Ivo Habets of Maastricht University, the Netherlands, who co-led the research. "Natural daylight is the strongest zeitgeber, or environmental cue, of the circadian clock, but most people are indoors during the day and so under constant artificial lighting," said Habets. The yet-to-be peer-reviewed study involved 13 participants with an average age of 70 years who stayed in research

Glenmark announces license agreements for Winlevi in Europe and S Africa

Cassiopea, a subsidiary of Cosmo, will receive an upfront payment of $5 million and agreed double-digit royalties on net sales

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

After drive against spurious drugs, DCGI collating data on pharma plants

The DCGI, in a letter dated September 4, has instructed state drug controllers to obtain the details from the firms under their jurisdiction

G20 meet: 3 private hospitals among 8 medical facilities put on high alert

Five government hospitals and three private medical facilities have been put on "high alert" in view of the upcoming G20 Summit in the national capital, Delhi Health Minister Saurabh Bharadwaj has said. The Delhi health department has formed 80 teams of doctors and nursing staff, who will serve guests staying at hotels. Out of these teams, 75 teams will work in shifts, officials said on Wednesday. Bharadwaj convened a meeting at the Delhi Secretariat to take stock of healthcare arrangements in view of the Summit scheduled to be held from September 9 to 10. "In light of the G20 Summit, the Delhi government has placed five major government hospitals and three private hospitals on high alert to ensure the healthcare arrangements are in place. These include primarily Lok Nayak Hospital, GB Pant Hospital, GTB Hospital, Deen Dayal Upadhyay Hospital, and Babasaheb Ambedkar Hospital, along with private facilities Primus Hospital Chanakyapuri, Max Hospital Saket, and Manipal Hospital Dwarka,

Top headlines: Pharma likely to take 5-6% price hikes, FDI outflow soars

Business Standard brings the top headlines at this hour

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.