Page 19 - Pharmaceutical Firms

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

Pharma sector must focus on innovation to become global leader: Minister

Union health minister Mansukh Mandaviya on Tuesday asked domestic pharmaceutical industry to focus on the research and development of innovative products to move up the value chain and achieve global leadership. Mandaviya, who also holds the Chemical and Fertilisers portfolio, asked medical technology companies to produce critical equipment in India for the global markets. While formally unveiling the National Policy on Research & Development and Innovation in the Pharma-Med Tech Sector here, Mandaviya said the domestic pharmaceutical companies invest less on research and development when compared to multinational companies. "International MNCs spend 20-25 per cent of their profits in research and innovation while for Indian companies the average is around 10 per cent...Till the time we do not come out with research-led innovative products, we cannot lead the segment globally," he noted. He said the government wants to make the pharma industry self-reliant by 2047. "Today is a ...

Pharmaceutical firm Valiant Laboratories' IPO to open on September 27

Pharmaceutical ingredient manufacturing firm Valiant Laboratories has decided to launch its initial share sale for public subscription on September 27. The Initial Public Offering (IPO), which is an entirely fresh issuance of 1.08 crore equity shares with no offer for sale component, will be concluded on October 3, according to the red herring prospectus filed with Sebi on Friday. Further, bidding for anchor investors will open on September 26. Proceeds of the issue will be utilised to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary -- Valiant Advanced Sciences Private Ltd. -- and to meet the working capital requirements of the subsidiary company. Valiant Laboratories is an active pharmaceutical ingredient or bulk drug manufacturing company with its focus on manufacturing paracetamol, which is used in the treatment of headache, muscle ache, arthritis, backache, toothache, cold and fever. The paracetamol API industry grew from Rs 2,200 cr

Lupin acquires five legacy brands from Meranini to solidify its portfolio

Lupin has already been marketing these brands in India since July 2021 under an agreement with A Menarini India Private Limited but will now have the full trademark ownership of the five brands

Genpharmasec to acquire 70% stake in DHPL in phased manner over one year

Incorporated in 1992, Generic Pharmasec Limited started as a manufacturer and trader of organic and inorganic chemicals, dyes, and pigments

Zydus Lifesciences gets USFDA nod for pregnancy prevention medication

The company said that this is the third hormonal transdermal patch to be approved from Zydus' generics portfolio

Taking corrective actions at Goa unit; stopped Digene production: Abbott

Drug maker Abbott on Thursday said it is implementing corrective actions at its Goa-based facility from where it had produced antacid Digene Gel that was recalled from the market due to non-compliance with manufacturing norms. Earlier this month, regulator DCGI cautioned against the consumption of Digene Gel citing safety concerns even as the drug maker recalled several batches of the medicine manufactured at the Goa facility. The drug regulatory body also advised doctors and healthcare professionals to carefully prescribe and educate their patients to discontinue the medicine's use and for reporting of any adverse drug reactions arising due to consumption of the said product. Goa FDA officials had conducted multiple inspections of the plant after the drug maker announced the recall of the antacid produced at the site and found various lapses of manufacturing norms, including hygiene issues, industry sources said. "We voluntarily stopped Digene manufacturing at our Goa site upon th

Sun Pharma, Pharmazz enter agreement to introduce Sovateltide in India

Sun Pharma said in a filing that it has been granted rights for marketing Sovateltide in India under the brand name Tyvalzi

Tabreed to invest $200 mn in Telangana to develop district cooling plants

Tabreed, a UAE-based global leader in cooling utilities, on Wednesday said it has partnered with Telangana government to develop cooling infrastructure for industrial and commercial parks, and will invest USD 200 million to develop 1,25,000 RT (refrigeration tonne) of district cooling plants for Hyderabad Pharma City. The state government also signed a MoU with Tabreed to explore district cooling infrastructure in existing and upcoming commercial districts of Cyberabad near here and other mixed use development areas. Speaking on the occasion, Telangana Urban Development, Industries and Commerce Minister K T Rama Rao said, "As we embark on a journey towards a more sustainable future, we are delighted to partner with Tabreed, exemplifying Government of Telangana's commitment to environmental stewardship through embracing innovative and implementable solutions." Tabreed chairman Khaled Abdulla Al Qubaisi said,"By bringing our expertise in district cooling to the world's largest net zer

Piramal-Bain investment arm acquires API biz of Ind-Swift for Rs 1,650 cr

The API business has a presence across the US, Japan, Korea, EU, Brazil, and India

Cipla plans acquisitions to take top spot in South African drug market

Cipla has a strong presence in both private and tender markets in South Africa

Billion-dollar pharma cos set to face their first US price negotiations

For taxpayers, the savings could be significant: Negotiations could save the US $36.5 bn from 2026 to 2028, according to Wells Fargo Securities. Drugmakers are suing the government to stop the squeeze

Medical Council guidelines bar doctors from taking freebies from firms

Industry insiders feel this is a step towards implementing and codifying the Uniform Code of Pharmaceutical Marketing Practices

Fierce competition among new drug brands for share of India market

The competitive intensity is high between brands, at a time when volume growth in the domestic pharma market is on a slow lane

Govt orders firm linked to Cameroon cough syrup deaths to stop production

The move comes as Indian regulators step up inspections at drugmakers after cough syrups made in the country were linked to the deaths of dozens of children overseas, denting India's image as the "pha

Allegra, Dolo-650 among 300 pharmaceutical brands to have QR codes

Batches manufactured on and after August 1 will have QR codes printed on the packaging of the selected 300 brands

Over 75% pharma stocks eye breakout; most may see up to 15% upside

Barring, Pfizer, Gland Pharma, and Laurus Labs, all other constituents of Nifty Pharm Index trade over the 200-day simple moving average (SMA),

With biz well positioned, Sun Pharma eyes high single-digit revenue growth

Sun Pharma is looking at high single-digit growth in its consolidated topline this fiscal on the back of robust performance from all its business verticals, according to company's Managing Director Dilip Shanghvi. The Mumbai-based company had reported a consolidated revenue of Rs 43,278 crore in 2022-23. "All our businesses are well-positioned, and we expect high-single-digit consolidated topline growth for FY24," Shanghvi informed shareholders through company's Annual Report for 2022-23. He noted that the global pharmaceutical industry remains quite dynamic, and always buzzing with new avenues for capital deployment. Pursuing any one of these options can place considerable pressure on the balance sheet, he added. "Success is not guaranteed, and it is important for us that we remain thoughtful and selective in deciding which options to pursue. However, we will not shy away from making disproportionate investments to grow our businesses, should an opportunity present itself," Shangh

Lupin's subsidiary, Generic Health gets Tiotropium 18 micrograms approval

The company has received the approval from Therapeutic Goods Administration (TGA)

Indian pharma to grow at 7-9% in FY24 despite regulatory risks: ICRA

ICRA's sample set includes companies such as Dr Reddy's Laboratories, Sun Pharmaceutical Industries, Cipla and Abbott