Page 15 - Pharmaceutical Firms

Glenmark cuts diabetes drug cost by 70% with first Indian biosimilar launch

Drug, marketed under the brand name Lirafit, is priced at approximately Rs 100 for a standard daily dose of 1.2 mg

Alembic Pharmaceuticals clinches eight USFDA approvals in Q3 FY24

The same day, Alembic Pharma's share price rose to 3.55 per cent, ending the day's trade at Rs 792 apiece on the BSE

Pharma lobby bats for drug approvals in India to align with global markets

Launching a new drug in India takes up to four years longer than in markets such as the United States and the European Union, said the pharma lobby

Aurobindo Pharma gets USFDA approval for generic antifungal injection

Aurobindo Pharma Ltd on Wednesday said its wholly-owned arm Eugia Pharma Specialities Ltd has received final approval from the US health regulator to manufacture and market generic Posaconazole injection used to prevent serious fungal infections. The approval by the US Food & Drug Administration (USFDA) is for Posaconazole injection of 300 mg/16.7 mL (18 mg/mL), single-dose vial, Aurobindo Pharma said in a regulatory filing. It is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Noxafil Injection, 300 mg/16.7 mL (18 mg/mL), of Merck Sharp & Dohme LLC (Merck), it added. "The product is expected to be launched in December 2023," the company said. Posaconazole injection, 300 mg/16.7 mL (18 mg/mL), single-dose vial is indicated for the prophylaxis of invasive Aspergillus and Candida infections in patients who are at high risk of developing these infections due to being severely immunocompromised due to certain conditions, it added. The approved ...

Zydus Lifesciences arm gets Rs 284.58 cr income tax demand notice

Zydus Lifesciences on Tuesday said its arm Zydus Healthcare Ltd has been served an income tax notice demand of Rs 284.58 crore for for the assessment year 2023-2024. Zydus Healthcare Ltd (ZHL), a wholly-owned subsidiary, has received an intimation under section 143(1) of the Income Tax Act, 1961 (IT Act), determining demand of Rs 284.58 crore, Zydus Lifesciences said in a regulatory filing. The intimation is for the assessment year 2023-2024 from the CPC, Income Tax Department, it added. The demand is determined due to "apparent mistakes while processing its return of income", it said. "The company strongly believes that once the rectification will be made, the entire demand will be deleted," Zydus Lifesciences said. ZHL has already disagreed with demand on the e-filing portal of the Income Tax Department. It is also going to file Rectification Application under section 154 of the IT Act, before the CPC as well as before the Jurisdictional Assessing Officer against the said ...

CRISIL analysis: Moderation in input prices to ease pressure on margins

Apart from creating a presence in generics, larger players are also developing specialty products, biosimilars, and complex generics, which will be key medium-term growth drivers for the industry

Lupin to acquire products in Europe, Canada from Sanofi for Rs 91 cr

Home-grown pharma major Lupin Ltd on Friday said it acquired a portfolio of established products in Europe and Canada from Sanofi for a purchase consideration of EUR 10 million (Rs 91 crore). Lupin Atlantis Holdings SA, Switzerland, a wholly-owned subsidiary of the company, has signed an asset purchase agreement with Sanofi, a French multinational pharmaceutical and healthcare company, for the purpose, Lupin said in a regulatory filing. The purchase consideration is EUR 10 million (Rs 91 crore) plus sales milestones up to EUR 8 million (Rs 72.8 crore), contingent upon future sales, it added. Under the agreement, Lupin will acquire brands AARANE in Germany and NALCROM in Canada and the Netherlands. The turnover of the said brands in these markets for the year ended March 31, 2023 was about USD 6.494 million (Rs 53.7 crore), the company said. "The proposed transaction is of strategic interest by bringing accretive assets in the respiratory field to help structure the company's new ..

Pharma industry optimistic, expects more collaborative efforts in New Year

The domestic pharmaceutical industry expects another year of sustained growth in 2024 amid various challenges, including maintaining quality standards, while moving from volume to value leadership. The industry, known for catering to global markets with affordable generic products, expects to further leverage collaborative efforts, invest in Research & Development (R&D) and uphold quality standards to meet the evolving healthcare needs. "The convergence of policy thrust, and India's entrepreneurial vigour will propel the sector's growth and ensure a consistent supply of quality-assured affordable medicines for patients, both in India and globally," Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain told PTI. IPA comprises top domestic pharmaceutical companies, including Sun Pharma, Dr Reddy's Laboratories, Aurobindo Pharma, Cipla, Lupin and Glenmark. Jain said that this year, the government announced various policy initiatives like the Promotion of Research .

NCB-Mumbai busts international pharma-drugs trafficking syndicate; 3 held

The apprehended accused have been identified as V Singh, G Mishra, and P Sharma, added the official statement

Pharma firm Innova Captab IPO subscribed 1.40 times on first day of offer

The initial public offer of integrated pharmaceutical company Innova Captab got subscribed 1.40 times on the first day of subscription on Thursday. The Rs 570 crore initial share sale received bids for 1,27,25,196 shares against 90,78,010 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) received 2.12 times subscription while the quota for non-institutional investors was subscribed 96 per cent. The category for Qualified Institutional Buyers (QIBs) received 44 per cent subscription. The Initial Public Offer (IPO) has a fresh issue aggregating up to Rs 320 crore and an Offer for Sale of up to 55,80,357 equity shares. The IPO comes in a price range of Rs 426-448 a share. Innova Captab on Wednesday said it has collected Rs 171 crore from anchor investors. Proceeds from fresh issuance worth Rs 144.40 crore will be utilised for payment of debt, Rs 23.60 crore for investment in the subsidiary, UML, Rs 72 crore for funding working capital requirements

AI makes mark in drug discovery in India; start-up Peptris raises $1 mn

Peptris is revolutionizing drug discovery through the implementation of its state-of-the-art AI platform. It is transforming the traditionally lengthy and costly drug discovery process

JB Pharma, Novartis ink Rs 1,089 cr deal for select ophthalmology brands

JB Chemicals & Pharmaceuticals Ltd (JB Pharma)on Tuesday said it has inked a trade mark licence agreement along with promotion and distribution pact with Novartis for select ophthalmology brands entailing a total sum of Rs 1,089 crore. The board of directors at its meeting held on December 19, 2023 approved the execution of a trade mark licence agreement with Novartis Innovative Therapies AG, which is perpetual in nature for the Indian market, for a portfolio of select ophthalmology brands which will be effective in January 2027, JB Pharma said in a regulatory filing. The board also approved the promotion and distribution agreement with Novartis Healthcare Pvt Ltd for the same portfolio of select ophthalmology brands for the Indian market for a period of three years starting December 2023, it added. On the financial details of the agreements, JB Pharma said it will pay USD 116 million (Rs 964 crore), excluding applicable taxes, stamp duty and working capital, for the trade marks ..

Sun Pharma to acquire 16.7% stake in Lyndra Therapeutics for $30 mn

Sun Pharmaceutical Industries Ltd on Monday said it will acquire a 16.7 per cent stake in US-based Lyndra Therapeutics, Inc for USD 30 million (nearly Rs 250 crore). The company has entered into an agreement to acquire 16.7 per cent shares on a fully diluted basis, in Lyndra Therapeutics Inc, based in Massachusetts, engaged in the business of developing novel delivery technology for long-acting oral (LAO) therapies, Sun Pharmaceutical Industries said in a regulatory filing. On the reasons for the acquisition, Sun Pharma said it is a strategic investment to support the development of innovative pharmaceutical delivery technologies and get access to the technology for certain molecules and territories. The cost of acquisition is USD 30 million and the transaction is expected to be completed by the end of December 2023, subject to certain conditions, it added. Incorporated on January 14, 2015, Lyndra Therapeutics clocked a turnover of USD 10.7 million in 2022, USD 13.1 million in 2021

Biocon considers selling generic API biz; turn into biosimilar major

The generic API business has been one of the primary businesses for Biocon, however, in recent years, the segment's contribution towards the company's consolidated financials has declined

Granules India gets USFDA nod for generic pantoprazole sodium tablets

Granules India Ltd on Wednesday said it has received approval from the US health regulator for its generic pantoprazole sodium delayed-release tablets used in the short-term treatment of erosive esophagitis associated with gastroesophageal reflux disease. The approval by the US Food & Drug Administration (USFDA) is for the abbreviated new drug application (ANDA) for pantoprazole sodium delayed-release tablets of strengths 20 mg and 40 mg, Granules India said in a regulatory filing. It is bioequivalent and therapeutically equivalent to the reference listed drug, Protonix Delayed-Release Tablets, 20 mg and 40 mg strengths, of Wyeth Pharmaceuticals LLC, it added. Pantoprazole sodium delayed-release tablets are indicated for short-term treatment of erosive esophagitis associated with gastroesophageal reflux disease (GERD) -- a condition in which backward flow of acid from the stomach causes heartburn and possible injury of the esophagus. The medicine is also used for the maintenance ..

Zydus, Daewoong collaborate to co-develop, market Leuprolide Acetate

Daewoong will leverage its proprietary technology to produce Leuprolide Acetate for Depot Suspension in its manufacturing facilities located in Osong, South Korea

DRL partners with Coya Therapeutics to develop nerve disorder therapy

Amyotrophic Lateral Sclerosis (ALS) is a fatal neurological disorder characterised by progressive degeneration of nerve cells in the spinal cord and brain

Lupin Ltd receives USFDA approval for smoking cessation drug Chantix

The product will be manufactured at Lupin's Pithampur facility in India, the company said in a regulatory filing

Advent International may sell majority stake in Bharat Serums & Vaccines

Global PE major in initial talks with Indian as well as foreign investors

India, US to boost cooperation in pharma, critical minerals & emerging tech

India and the US have agreed to strengthen cooperation in sectors like pharmaceuticals, semiconductors, critical minerals and emerging technologies, an official statement said on Friday. The two countries also discussed collaborative opportunities in green and clean technologies; and strengthening partnership in critical technologies, the commerce ministry said. These key areas emerged from the discussions during the meeting of Commerce and Industry Minister Piyush Goyal and US Secretary of Commerce Gina Raimondo at a review meeting of the India-US CEO Forum virtually last night. "As both sides are focused on closer engagement based on trust, following key areas emerged from the discussions -- supply chain cooperation across pharma, semiconductors, critical minerals and energy; collaborative opportunities in green tech and scaling up manufacturing for clean tech; and strengthening partnership in critical and emerging technologies," it said. Raimondo urged the CEO Forum to seize the