Page 20 - Pharmaceutical Firms

Action taken against pharma cos following reports of deaths abroad: Centre

The Central Drugs Standard Control Organisation in coordination with state authorities initiated action against pharma companies following reports of deaths and injuries due to their substandard drugs in the Gambia and Uzbekistan, the government informed Lok Sabha on Friday. The Directorate General of Foreign Trade has issued a notification on May 22 this year for amendment in the export policy of cough syrups, making it compulsory for manufacturers to get certificate of analysis from a government-approved laboratory before exporting their products with effect from June 1, Minister of State for Health Bharati Pravin Pawar said in a written reply. Responding to a question, Pawar said that subsequent to reports from Sri Lanka, Gambia and Uzbekistan, the CDSCO in coordination with state drug controllers carried out joint investigations at the manufacturing units of the cough syrups and drugs in question. After deaths of children were reported in the Gambia, the CDSCO in coordination wi

Piramal Pharma's Rs 1,050 crore rights issue gets Sebi's approval

Proceeds of the issue will be utilised for payment of debt and general corporate purposes

Indian drugs regulators took action against 105 pharma firms, says minister

Indian drugs regulators have taken action against 105 pharmaceutical companies after a risk-based inspection and audit of manufacturing plants, the health minister said on Tuesday

Pharma stocks rally on lower price erosion, hopes of US generic mkt uptick

Pharma players with a major exposure to US mkt such as Sun Pharma, Lupin, Zydus Life, Dr Reddy's, Aurobindo, Torrent have been outperformers hitting their 52-week highs over the last couple of weeks

'4IR': The booster pharma majors are taking to improve productivity

Large manufacturers are leveraging new-age technologies and advanced analytics to improve productivity and reduce deviations in production processes

Kin of AP blast victims seek compensation from pharmaceutical company

Relatives of two persons who died in an explosion at a pharma company in Anakapalli district are demanding compensation from the employer. The duo succumbed to chemical burns they suffered in the blast at Sahiti Pharma company, while undergoing treatment at a hospital in Visakhapatnam on Friday evening. "Around 30 relatives of the deceased persons are at the company now. They are demanding compensation from the company side," a police official said on Saturday. The government has announced ex-gratia of Rs 25 lakh lakh each for the deceased persons. Meanwhile, four injured persons were shifted from KGH Hospital to Indus Hospital for better treatment, said Anakapalli district superintendent of police K. V. Murali Krishna, adding that one person continues to undergoing ICU treatment at KGH Hospital. The company officials are in touch with the family members of the injured persons to provide support for their treatment. Further, he said the company has insured its employees and there

Govt planning more crackdowns on vitamin and mineral combination drugs

The government banned 14 FDCs in June that affected around Rs 824 crore of the domestic pharmaceuticals market

Indian firm used toxic industrial-grade ingredient in cough syrups

The two sources said the syrup was made with industrial-grade PG, a toxic material widely used in liquid detergents, antifreeze, paints or coatings, and to enhance the effectiveness of pesticides

Facing higher scrutiny, IPA plans monthly meetings with members on quality

Data suggests that Indian sites received fewer OAIs in the first six months of 2023

Spiriva approval gives earnings visibility to Lupin; valuations expensive

Lupin's shares declined 4.5 per cent in Thursday's intra-day trade

Fewer Indian pharma plants get US FDA action notice in 2023, so far

6 per cent of inspections in first 6 months of CY23 resulted in OAI status

2 more Indian drugmakers under lens in Nigeria for 'contamination'

Nigerian health agency flags off paracetamol, cough syrup

10,000 Jan Aushadhi Kendras expected to be functional by year-end: Official

Applications have been invited for setting up more Jan Aushadhi Kendras as around 10,000 such centres are expected to be made functional by the year-end, a top official said on Friday. Ravi Dadhich, CEO of Pharmaceuticals and Medical Devices Bureau of India (PMBI) said, "10,000 Jan Aushadhi Kendras are expected to be functional across the country by the end of the year." He added that applications have been invited for the proposals to establish these centres. As on May 31, a total of 9,484 Jan Aushadhi Kendras are operational in the country. Dadhich made the comments in an interaction with media persons assembled at the central warehouse, Bilaspur, Gurugram. There are currently four warehouses in the country under Pradhan Mantri Bharatiya Jan Aushadhi Pariyojana (PMBJP), located at Gurugram (Haryana), Chennai, Guwahati and Surat, with the central warehouse at Gurugram being the largest. At present, PMBJP is providing 1,800 medicines, as well as 285 surgical devices at highly ...

Sun Pharma's growth prospects look healthy; analysts positive on the stock

Majority of analysts positive on the stock; their average target price indicates an upside potential of 15 per cent

Gambia death fallout: Pharma exports to African market slipped 5% in FY23

Medicines put up for retail sales led the decline in exports

Janus Henderson further downgrades PharmEasy valuation to $ 2.7 billion

Several other Indian startups such as Meesho, Swiggy, Byju's, Pine Labs, and Ola have seen similar cuts in their valuations

Medical devices must display essential information on packaging: Govt

The department of consumer affairs has mandated that pharmaceutical clearly display important information on their packaging so consumer can make informed decisions

JB Pharma Q4 PAT rises 3.5% to Rs 88 cr, revenue stands at Rs 762 cr

JB Pharma on Wednesday said its profit after tax rose by 3.5 per cent to Rs 88 crore for the fourth quarter ended March 31, 2023. The company had reported a profit after tax (PAT) at Rs 85 crore in the January-March quarter of 2021-22 fiscal. Revenue of the company stood at Rs 762 crore in the fourth quarter of FY23 as against Rs 625 crore in the same period of FY22, JB Pharma said in a statement. For the last fiscal, the company reported revenue of Rs 3,149 crore as compared with Rs 2,424 crore in FY22. During the same period, PAT stood at Rs 410 crore as against Rs 386 crore, recording a growth of 6 per cent, JB Pharma said. The drug maker continued its growth journey in the fourth quarter, thereby ending FY23 with a strong performance across business segments, JB Pharma CEO Nikhil Chopra said. "While we are cautious of the inflationary environment our efforts are aimed at executing well, with productivity and cost optimisation as drivers, in order to deliver improved operating

Pharma companies seek price ceiling exemption for low-cost medicines

The industry and the government are on the same page on trade margin rationalisation, however, the industry wants it to be implemented in a phased manner

Janus Henderson marks down PharmEasy's valuation by half to $2.8 bn

Neuberger Berman, another US investor, earlier marked down valuation of shares it holds in online pharmacy's parent