Page 14 - Pharmaceutical Firms

Akums Drugs files IPO papers with Sebi to raise Rs 680 cr via fresh issue

Akums Drugs and Pharmaceuticals Ltd has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The initial share-sale is a combination of fresh issue of equity shares worth Rs 680 crore and an offer-for-sale (OFS) of 1.86 crore shares by promoters and an existing investor, according to the draft red herring prospectus (DRHP) filed on Saturday. Those selling shares in the OFS are Sanjeev Jain, Sandeep Jain and Ruby QC Investment Holdings Pte Ltd. The company is looking to raise Rs 136 crore through a pre-IPO placement. If such placement is undertaken, then fresh issue size will be reduced. Proceeds from the fresh issue will be used to repay debt, fund working capital requirements of the company, pursue inorganic growth initiatives through acquisition and for general corporate purposes. Founded in 2004, Akums is a pharmaceutical contract development and manufacturing organization (CDMO) offering a comprehensive range of ...

MedPlus expects 50-60% revenue from 'store generics' in next 3 yrs

MedPlus Health Services, a retail pharmacy and diagnostics chain in India, is set to elevate its "store generics" (in-house brand) to 50-60 per cent contribution to the firm's revenues in the next two to three years, drawing inspiration from the successful practices of US pharma retail giants like Walgreens and CVS. The concept of "store generics" involves a retail chain exclusively selling its own branded medications alongside innovator drugs. MedPlus currently witnesses around 12 per cent of its revenues from store generics. This strategic move follows the triumphant adoption of the "store generics" model in Telangana and subsequent expansions into Andhra Pradesh, Tamil Nadu, Karnataka, Maharashtra, West Bengal, and Odisha, Gangadi Madhukar Reddy, MD CEO of MedPlus said. Over the past six months, MedPlus has witnessed over 26.2 lakh customers saving a substantial Rs. 139.7 crores by opting for MedPlus brands, he said. To ensure the quality and efficacy of their medications, MedPl

Zydus Lifesciences Q3 result: Net profits rise by 27%, beat estimates

Indian generic drugmaker Zydus Lifesciences reported a bigger-than-expected rise in third-quarter profit on Friday, driven by strong sales in its domestic and overseas markets

Biocon Biologics partners with Sandoz Australia to sell cancer drugs

The partnership will provide Sandoz the exclusive rights to promote, sell, and distribute biosimilar Trastuzumab and biosimilar Bevacizumab in Australia

JB Pharma Q3 results: Profit after tax rises 26% on strong India biz

The domestic formulation business has been the growth driver during the quarter, clocking a 14 per cent Y-o-Y growth to Rs 462 crore

JB Chemicals & Pharma Q3 results: Net profit rises 26% to Rs 134 crore

JB Chemicals & Pharmaceuticals on Tuesday said its net profit rose 26 per cent to Rs 134 crore for the third quarter ended December 2023. The company reported a net profit of Rs 106 crore in the October-December period of the last fiscal. Revenue increased to Rs 845 crore in the third quarter compared to Rs 793 crore in the year-ago period, JB Pharma said in a statement. "Our focus on growing the domestic business ahead of the market continues, as reflected in the Q3 performance. The business once again stands out in this quarter," JB Pharma CEO and Wholetime Director Nikhil Chopra stated. In the international division, the formulations business is stable, he added. "Our approach to develop progressive portfolios is on track, resulting in a positive impact for the exports branded generics business," Chopra said. Shares of the company settled 1.18 per cent higher at Rs 1,724 apiece on the BSE.

J&J's immune disorder drug succeeds in mid and late-stage studies

The drug, nipocalimab, significantly reduced symptoms of generalized myasthenia gravis (gMG) in a late-stage study, and in a mid-stage study helped reduce Sjogren's disease severity, J&J said

Indian pharma industry relies heavily on ingredients made in China: Report

America's reliance on China for drug ingredients has raised alarm bells in Congress. House committees will hold two hearings Tuesday on drug shortages

Alembic Pharma Q3 results: Profit at Rs 180 cr on strong domestic, US sales

Alembic Pharmaceuticals' revenue from operations rose 8% in the December-quarter, led by a 9% rise in its India and U.S. businesses each

Market resilience in a pill: Pharma's formula for Q3 earnings upgrades

Rx for returns: Pharma firms' dominance in market recovery prescription

Cipla eyes acquisitions, inorganic partnerships in US, European markets

Drug major Cipla is eyeing acquisitions and inorganic partnerships in the US market while consolidating its presence across segments in the domestic market. The Mumbai-based company is also looking to improve the top line in Europe and margin expansion in South Africa. "Product launches through delisting strategy and as well as inorganic partnerships and acquisitions will remain one of our key priorities for the US market," Cipla Global Chief Financial Officer Ashish Adukia said in an analyst call. The drug maker would also focus on commercial execution of existing portfolios and resolution of USFDA observations, he added. In the South African market, Cipla would build on its performance aided by growth in private and select tender business with greater emphasis on margin expansion, Adukia stated. "In emerging markets and Europe, top priority is to improve top line while margins are maintained at sustainable levels," he said. As per the yearly trend, the fourth quarter will have

Abbott Q3 results: Profit rises 26% to Rs 311 cr on strong demand

The company, which makes popular antacid medicine Digene, said its profit rose to 3.11 billion rupees ($37.5 million) from 2.47 billion rupees a year earlier

Mankind Pharma Q3 results: PAT up 55% on strong domestic performance

Mankind's revenue from operations rose to Rs 2,607 crore in Q3 FY24, a 25 per cent Y-o-Y rise in revenue from operations from Rs 2,128 crore in Q2 FY23

Pharmeasy FY23 losses widen 31%, revenue increases 16% to Rs 6,644 cr

Online pharmacy dropped plan for an IPO in 2022, says it is cutting down expenses

Pfizer posts surprise 4th quarter profit, but key products miss on sales

The New York-based drugmaker earned 10 cents per share on an adjusted basis for the fourth quarter. Analysts on average had expected a loss of 22 cents per share, according to LSEG data

Dr Reddy's Lab Q3 results: PAT up 11%, beats estimates on strong US sales

The Hyderabad-based drug major had reported a net profit of Rs 1,247 crore for the October-December quarter of the last fiscal

Breather for consumers as drug prices likely to remain same this year

In previous two years, hikes were in the range of 10-12%

Indian firms corner more of growing pharma market as MNCs go niche

Indian drug firms are focussing on expanding their salesforce and distri­bution, while getting into trade generics to garner volumes

Granules Q3 results: Profit rises marginally by 1.6% to Rs 126 crore

The company's consolidated profit rose 1.6% to 1.26 billion rupees (nearly $15 million), according to an exchange filing

Q3 result preview: US, India to aid revenue growth for Pharma Inc

In the healthcare segment, hospitals are expected to post revenue growth of 13 percent during the coverage, while the net profit growth would be around 37 percent, ICICI Securities said in a note