Page 25 - Pharmaceutical Firms

Alembic Pharma receive USFDA approval to market drug for skin treatment

Alembic Pharmaceuticals on Friday said its subsidiary has received approval from the US health regulator to market medication for treating actinic keratoses

Govt launches 3 schemes to strengthen MSMEs in pharmaceutical sector

The government on Thursday launched three schemes to strengthen Micro, Small and Medium Enterprises (MSMEs) in the pharmaceutical sector. Union minister Mansukh Mandaviya noted that the schemes envisage technology upgradation, setting up of common research centres and effluent treatment plants in clusters for the pharma MSMEs. Small companies should be able to upgrade their facilities to global manufacturing standards, he said. The chemicals and fertilisers ministry rolled out the schemes under the banner of 'Strengthening Pharmaceuticals Industry' (SPI). "I believe the pharma MSME industry will greatly benefit from the schemes. The new schemes have many benefits that will go a long way in making the Indian pharmaceutical industry, Atma Nirbhar, more resilient and future-ready," Mandaviya, who heads both health as well as chemical and fertilisers ministries, said. The schemes provide for credit linked capital and interest subsidy for technology upgradation of MSME units in ...

Amazon to buy primary care provider One Medical for $3.9 billion

Amazon announced it will acquire the primary care organisation One Medical in a deal valued roughly at USD 3.9 billion, marking another expansion for the retailer into health care services.

Rupee at 80: Neutral impact for India's pharma industry, say experts

India's pharma sector exported drugs worth Rs 1.8 trillion in 2021-22, while APIs worth Rs 30,000 crore were imported

Ahead of demerger, Piramal Pharma inducts three new board members

Piramal Enterprises has received shareholders' approval to demerge its Piramal Pharma business and simplify the corporate structure

Dolo-650 manufacturer faces raids by I-T dept in tax evasion case

A team of more than 20 officers associated with the I-T dept conducted the raids on the pharma company's Race Course Road office

Dr Reddy's says it aims to triple reach to 1.5 bn patients by 2030

Under its sustainability goals for the next decade, Dr Reddy's said it is making its "products accessible and affordable for patients" and "25 per cent of new launches to be first to market by 2027"

Research-linked incentive scheme in works for pharmaceutical industry

15% turnover investment in research could make companies eligible for the scheme

Natl Pharma Pricing Authority fixes retail prices of 84 drug formulations

Drug pricing regulator NPPA has fixed the retail prices for 84 drug formulations, including those used for treatment of diabetes, headache and high blood pressure. The National Pharmaceutical Pricing Authority (NPPA) has also fixed the prices of formulations indicated to reduce increased cholesterol and triglycerides levels, among others. In exercise of the powers conferred by the Drugs (Prices Control) Order, 2013, the NPPA has fixed the retail prices of the medications, the regulator said in a notification. As per the order, a single tablet of Voglibose and (SR) Metformin Hydrochloride will cost Rs 10.47, excluding GST. Similarly, the price of Paracetamol and Caffeine has been fixed at Rs 2.88 per tablet. Besides, the price of one Rosuvastatin Aspirin and Clopidogrel capsule has been fixed at Rs 13.91. In a separate notification, NPPA said it has extended the revised ceiling price of liquid medical oxygen and oxygen inhalation (medicinal gas) till September 30 this year. The NP

Pharma company Innova Captab files draft papers with Sebi for IPO funding

Pharmaceutical company Innova Captab Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The proposed IPO comprises fresh issuance of equity shares worth Rs 400 crore and an offer for sale (OFS) of 96 lakh equity shares by promoters and other shareholders, according to the draft red herring prospectus (DRHP). As part of the OFS, Manoj Kumar Lohariwala, Vinay Kumar Lohariwala and Gian Parkash Aggarwal will sell 32 lakh shares each. At present, promoters -- Manoj and Vinay -- hold 39.66 per cent and 30.08 per cent stake, respectively, in the company, while Gian owns a 30.23 per cent holding in the pharma firm. Besides, the company may consider pre-IPO placement of equity shares aggregating up to Rs 80 crore. If such a placement is undertaken, the size of the fresh issue will be reduced. Of the Rs 400 crore proposed to be raised through fresh issuance of equity shares, Rs 180.5 crore will be used for payment of

India's first indigenous mRNA vaccine likely to be available soon

The Subject Expert Committee (SEC) has recommended granting the Emergency Use Authorisation (EUA) to the country's first mRNA-based Covid-19 vaccine in a meeting held on Friday

Cipla to invest Rs 26 cr in digital tech co GoApptiv to raise stake to 22%

Pharma company Cipla has agreed to acquire an additional stake for nearly Rs 26 crore in digital tech company GoApptiv Private to raise its shareholding to 22.02 per cent, the company said on Monday. The investment will be made in equity shares and Compulsorily Convertible Preference Shares and is likely to be completed within 30 days or such other date mutually agreed between the parties, Cipla said in a regulatory filing. Cipla's earlier investment in GoApptiv in June 2020 has yielded growth and expanded Cipla's channel reach across lower tier towns in India. "This investment will further strengthen our partnership with GoApptiv enabling wider patient reach with affordable and quality drugs and end-to-end brand marketing and channel engagement across tier 2-6 towns in India. 'Caring for Life' is at the heart of what we do and will guide us towards making such strategic investments to help make a difference in the lives of our patients," Umang Vohra, MD and Global CEO, Cipla Limite

Dr Reddy's Laboratories eyes place among top five domestic pharma players

The US would continue to remain an important geography, but the firm says it hopes to double its revenues from China and grow revenues five-fold in Brazil in the next five years

Dr Reddy's acquire Eton Pharma's injectable products for $50 million

Under the terms of the agreement, Dr Reddy's acquired the Eton portfolio for an upfront payment of approximately USD 5 million in cash, besides contingent payments of up to USD 45 million

CBI arrests Jt Drug Controller, Biocon Biologics execs over fishy approvals

All five apprehended will be presented in court on Tuesday afternoon, agency to seek police custody

Zydus Lifesciences' Rs 750 cr-share buyback open between June 23-July 6

The drug firm, earlier known as Cadila Healthcare, has fixed July 15, 2022 as the last date for the settlement of bids on stock exchanges which may even happen early, as per a regulatory filing.

Near-term growth issues and cost pressure could impact Aurobindo Pharma

While valuations are now attractive, product approvals and progress on the injectable guidance are among key long-term term triggers

WEF 2022: Pfizer commits medicines, vaccines to 45 lower-income countries

World Economic Forum (WEF) 2022: The initiative by Pfizer was launched at the World Economic Forum Annual Meeting in Davos 2022

Bayer CropScience Q4 net profit surges over two-fold; revenue rises 31%

In the fourth quarter of 2021-22, the company's revenue from operations witnessed a growth of 31.29 per cent to Rs 963.3 crore compared to Rs 733.7 crore in corresponding quarter of the previous year

Ipca Labs Q4 net profit declines 19% at Rs 130 crore on higher expenses

The company had posted a consolidated net profit after tax of Rs 161.34 crore in the same quarter previous fiscal, Ipca Laboratories said in a regulatory filing