Page 22 - Pharmaceutical Firms

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

Dr Reddy's Labs Q4 result: PAT up 9 times, div declared at Rs 40 per share

Its revenue from operations stood at Rs 5,843 crore in Q4 FY23, up 15.28% YoY as compared to Rs 5,068.4 crore in Q4FY22

NPPA to cap medicine prices to boost affordability, curb profiteering

The change could have financial implications for leading drug manufacturers like Abbott Laboratories, Bayer AG, and GlaxoSmithKline, among others

JB Chemicals & Pharmaceuticals to consider sub-division of equity shares

A final decision on this will be taken during the board meeting to be held on 24 May 2023

Lupin to acquire French pharma company Medisol for around Rs 160 crore

The company has entered into a definitive agreement to acquire the entire share capital of Medisol, subject to approval from the French Ministry of Economy and Finance

Govt pays PLI incentives worth Rs 2,874 crore towards 8 sectors in FY23

Empowered group of secretaries, Aayog review some sectors to bring them to 'acceptable levels'

Serum Institute to double its investment in Biocon's unit to $300 million

SILS will now make an additional equity investment of $150 million through the conversion of an earlier loan provided to Biocon Pharma into equity in BBL

India business to boost pharma, after US sales prove to be a mixed bag

Hospitals to recover from sluggish Q3; diagnostics growth rate at pre-Covid levels

Big pharma: Here's why India's drug industry needs a major overhaul

The latest drug recalls just add to a long line of scandals that have tainted the pharma sector of India

Nifty Pharma index hits 2-year low; Cipla, Divis, Laurus Labs at 52-wk lows

Analysts said the pace of US FDA inspections has again picked-up in the last few months post Covid, and they have seen increased incidents with 483 observations and adverse outcomes

Natco launches additional strengths of generic version of Revlimid in US

Natco Pharma Ltd on Friday said it has launched additional strengths for its generic lenalidomide capsules used in the treatment of multiple myeloma, in the US. The company has launched 2.5 mg, and 20 mg strengths of the generic version of Revlimid (lenalidomide capsules) through its marketing partner Teva Pharmaceuticals, a US affiliate of Teva Pharmaceutical Industries Ltd, Natco Pharma said in a regulatory filing. "With this launch the companies (have) made available all the strengths of lenalidomide in the US market," it added. Lenalidomide capsules are a prescription medicine used in adults for the treatment of multiple myeloma, the filing said.

Natco Pharma's Q3 consolidated net profit dips 22% yoy at Rs 62 cr

Natco Pharma on Thursday said its consolidated net profit declined by 22 per cent to Rs 62 crore for the third quarter ended December 31, 2022. The Hyderabad-based drug firm had reported a net profit of Rs 80 crore in the October-December quarter of last fiscal. Total income of the company stood at Rs 513 crore in the period under review as compared with Rs 591 crore in the year-ago period that had a one-time licensing revenue. The company's board, which met on Thursday, approved an interim dividend of Rs 1.25 per share for the quarter ended December 31, 2022. Shares of the company ended 0.38 per cent down at Rs 529.10 apiece on the BSE.

Piramal Pharma reports consolidated net loss of Rs 90 crore in Q3

Piramal Pharma on Thursday reported a net loss of Rs 90 crore on a consolidated basis for the third quarter ended December 31, 2022. The Mumbai-based company had reported a net profit of Rs 163 crore in the October-December quarter of last fiscal. Revenue from operations stood at Rs 1,716 crore for the third quarter, while the same was at Rs 1,539 crore in the year-ago period. The company said the third quarter results were not comparable to the same period last year as the NCLT in August 12, 2022 approved the composite scheme of demerger of the pharma business from Piramal Enterprises Ltd (PEL) into Piramal Pharma Ltd. The NCLT also approved amalgamation of Piramal Pharma's wholly-owned subsidiaries Hemmo Pharmaceuticals and Convergence Chemical into itself with an appointed date of April 1, 2022. Accordingly, the financial statements of Piramal Pharma have been prepared giving effect to the scheme from April 1, 2022. "Based on our recent increase in customer engagements and ...

Lupin recalls 5,720 skin treatment tubes in US due to manufacturing issue

Drug maker Lupin is recalling 5,720 tubes of a cream used in the treatment of various skin conditions, such as dermatitis, eczema and psoriasis, from the US market due to a manufacturing issue, according to the US Food and Drug Administration. As per the latest Enforcement Report by the US health regulator, Lupin Pharmaceuticals Inc, a US-based arm of the Mumbai-based drug maker, is recalling Clobetasol propionate Cream, a steroid to reduce inflammation, redness and itchiness of the skin and prevent further irritation of the skin. The affected lot has been manufactured at the company's Pithampur plant in Madhya Pradesh and marketed in the US market by Baltimore-based Lupin Pharmaceuticals Inc. The USFDA noted that the company is recalling the affected lot due to "Subpotent Drug: Low assay result observed during long-term stability testing". The company initiated the Class III nationwide (US) recall of the affected lot on January 23 this year. As per the USFDA, a class III recall i