Page 10 - Pharmaceutical Firms

Zydus Lifesciences gets Mexican authority nod for cancer remedy biosimilar

Zydus Lifesciences Ltd on Monday said it has received marketing approval from the Mexican regulatory authority for its biosimilar product -- Bhava, used in the treatment of certain types of cancers. Mexican regulatory authority COFEPRIS (Federal Commission for the Protection Against Sanitary Risk), has granted marketing approval for Bhava, a Bevacizumab biosimilar and it will be marketed in different strengths of 100 mg/4 ml and 400 mg/16 ml, Zydus Lifesciences said in a regulatory filing. Bhava is used in the treatment of metastatic colorectal cancer (mCRC), non-squamous non-small cell lung cancer, metastatic breast cancer, glioblastoma, advanced and/or metastatic renal cell carcinoma and ovarian cancer patients, it added. Zydus Managing Director, Sharvil Patel said the approval granted by COFEPRIS is the company's first biosimilars for patients in Latin America. "To bring in greater access and affordability to patients battling critical ailments, we have been developing a pipelin

Aurobindo Pharma board approves share buyback plan worth Rs 750 cr

Aurobindo Pharma on Thursday said its board has approved a share buyback plan of up to Rs 750 crore. The company's board has approved the buyback of up to 51,36,986 shares representing up to 0.88 per cent of the total paid-up equity share capital, Aurobindo Pharma said in a regulatory filing. The company will buy the shares at Rs 1,460 apiece for an aggregate amount of up to Rs 750 crore, it added. The drug firm said July 30 has been fixed as the record date for the Rs 750-crore share buyback scheme through the tender offer route. At the end of June 30, the company promoters owned 51.8 per cent stake, while foreign institutional investors (FIIs) and mutual funds owned 16.73 per cent and 19.17 per cent respectively. Shares of Aurobindo Pharma were trading 2.83 per cent down at Rs 1,332.90 apiece on the BSE.

Mankind Pharma and EQT compete to acquire BSV Group for Rs 14,000 crore

Advent International, the private equity firm currently owning BSV, appointed JP Morgan and Jefferies to facilitate the sale of the biopharma firm

Pharma groups criticise plan to shift nutraceuticals under drug authority

Pharmaceutical industry is urging government to halt the transfer of nutraceutical oversight from FSSAI to the drug regulatory authority, citing potential market impact

Subhash Dandekar: The man who brought colour to the Indian masses

He took over Camlin from his father, Digambar Dandekar, who started the company in 1931 as an ink manufacturer and then also began selling office stationery

Veerhealth Care expects Rs 100 crore revenue in upcoming 2-3 years

Veerhealth Care on Monday said it is expecting to reach revenue of Rs 100 crore in the next 2 to 3 years. In a statement, the company said it has executed and delivered an export order valued at USD 50,000 (about Rs 41.50 lakh). Additionally, another export order valued at USD 197,793 (approximately Rs 165 lakh) is scheduled to be fully executed and delivered by the end of July. According to the statement, the company has also received an additional export order worth USD 106,673 (about Rs 89 lakh) from top US Institutional Supplier. The order will be executed within three months, as stipulated by the terms of the purchase agreement. Further, it stated that it is expecting monthly repeat orders from the same top US Institutional Supplier. In addition to this, the company said it is renovating its existing plant in Vapi, Gujarat, to set up a bigger plant which will be US FDA & WHO-compliant. In February 2024, the company has announced its expansion plans with a proposed investmen

Q1 results preview: Niche US products, domestic growth may boost pharma biz

Brokerages expect aggregate sales growth of 11 per cent, and 21 per cent earnings growth during this period

Emcure Pharma lists at 31% premium; should you buy, sell or hold the stock?

Emcure Pharmaceuticals listing today: According to analysts, Emcure Pharma is quoting at a reasonable valuation with a niche opportunity to invest in the gynaecology & HIV antivirals therapeutic areas

Sun Pharma open to exploring acquisitions in global specialty portfolio

Sun Pharma has net cash position of $2.4 bn at end of FY24; 6 new specialty products in R&D pipeline

Emcure Pharma IPO subscription status: Issue subscribed 75% so far on Day 1

Emcure Pharma IPO subscription status Day 1: Till 2:00 PM, Emcure Pharma IPO was subscribed 75 per cent, led by employees and non-institutional investors

60 drug makers join govt scheme to modernise pharma manufacturing units

Indian pharmaceutical companies recently came under the scanner after global supplies of certain medicines were found to be toxic

Emcure Pharma seeks to raise Rs 1,952 cr through IPO, issue opens July 3

Fourth largest IPO of 2024; company will use the proceeds to repay debt and for general corporate purposes

Indian pharma sites outpace global standards in USFDA inspections for 2023

The USFDA categorised 13 per cent (19 out of 145 inspections) of Indian facilities as 'Official Action Indication'(OAI), which is lower than the global average of 15 per cent OAIs

Sun Pharma inks MoU with Takeda to introduce gastrointestinal drug in India

Sun Pharmaceutical Industries on Friday said it has inked a licensing pact with Takeda Pharmaceutical Company to commercialise a novel gastrointestinal drug in India. The company has entered into a non-exclusive patent licensing agreement with Takeda to commercialise Vonoprazan tablets in strengths of 10 and 20 mg in India, the Mumbai-based drug major said in a statement. Vonoprazan is a novel, orally active potassium competitive acid blocker (PCAB), used to treat reflux esophagitis and other acid peptic disorders. "Sun Pharma is a leader in gastroenterology and we are excited to introduce Vonoprazan in India under non-exclusive patent license from Takeda," Sun Pharma CEO - India Business Kirti Ganorkar said. The partnership demonstrates the company's commitment to gastrointestinal health by providing patients and healthcare practitioners with a novel treatment option to manage reflux esophagitis and other acid peptic disorders, he added. Gastroesophageal Reflux Disease (GERD) is

Domestic drugs formulations market to be worth Rs 5.5 trn by 2034: Report

'Significant under-penetration' in domestic market, especially in smaller towns and rural areas

How Alkem's 83-year-old founder is remaking India's 4th-largest pharma firm

Hailing from Okari, a remote village in Jehanabad district of Bihar, Singh and his brother, Samprada, moved to Mumbai in 1973 to start Alkem Laboratories with a seed capital of Rs 5 lakh

Lupin appoints Abdelaziz Toumi as CEO of newly established subsidiary LMS

LMS will focus on the development, manufacture, and sale of Active Pharmaceutical Ingredients (APIs) while expanding into the Contract Development and Manufacturing Operations (CDMO) business

Pharma's eco pill: Sustainable packaging as new prescription for planet

Merck also revealed that they are investing in renewable energy sources, and half of their Mumbai facility's energy is now sourced from solar panels

Pricing challenge in US biz, rich valuations may weigh on pharma stocks

Among individual players, Aurobindo Pharma, Dr Reddys Labs, and Zydus Lifesciences sourced 48 per cent, 47 per cent, and 46 per cent of their total revenues from the US generics segment, respectively

Jubilant Pharmova Q4 results: Consolidated net loss narrows to Rs 5.86 cr

Revenue from segments that make copycat drugs and medicines used for allergy immunotherapy rose 0.8% and 14%, respectively, during the quarter