Page 8 - Pharmaceutical Firms

Alembic Pharma Q3 result: Profit dips 23% to Rs 138 cr on weak sales

A significant chunk of revenue for most Indian generic drugmaker comes from the U.S. and fierce competition in the North American market has weighed on domestic firms' margins

Commerce Ministry withdraws 'track and trace' rule for pharma exports

The Commerce Ministry on Friday said it has withdrawn the provisions related to the track and trace system for pharmaceutical exports under the foreign trade policy. The implementation of the authentication system for drug formulations being exported will be undertaken by the Ministry of Health and Family Welfare in line with the provisions under Drug Rules 1945, according to a public notice of the Directorate General of Foreign Trade (DGFT). "The DGFT has decided to streamline export regulations by aligning with the evolving regulatory framework of the Ministry of Health & Family Welfare. Accordingly, the provisions related to the track and trace system for pharmaceutical exports under the Foreign Trade Policy are being withdrawn," the ministry said. The system, introduced on January 10, 2011, mandated barcoding at various packaging levels. While tertiary and secondary packaging requirements were successfully implemented in 2011 and 2013, primary-level barcoding and parent-child .

Cigna falls short of Q4 profit estimates due to higher medical costs

The plan, called "stop-loss insurance", entails the insurer covering for employers' self-funded plans when their costs surpass a certain threshold due to catastrophic or unexpected medical claims

Drugmaker Takeda's CEO Weber to step down, raises profit forecast

Julie Kim, president of the company's U.S. unit, was named to succeed Weber in June 2026

Granules India Q3FY25 results: Net profit drops 6% to Rs 118 crore

Drug firm Granules India on Friday said its consolidated profit after tax declined 6 per cent year on year to Rs 118 crore for the third quarter ended December 31, 2024. The company reported a profit after tax of Rs 126 crore in the October-December quarter of the last fiscal. Revenue from operations declined to Rs 1,138 crore in the third quarter as against Rs 1,156 crore in the year-ago period, the Hyderabad-based said in a regulatory filing. "We continue to sustain our profitable growth in the finished dosages segment, driven by our North America business. We are enhancing quality and compliance through systemic improvements across our operations, including Gagillapur," Granules India Chairman & Managing Director Krishna Prasad Chigurupati said. The company said it voluntarily paused production at the Gagillapur plant in September 2024 for risk assessment on account of the USFDA observations. Subsequently, the production resumed in October in a staggered manner, it ...

Glenmark Pharma's US arm launches drug to treat blood clotting issues

According to IQVIA data for the 12-month period ending November 2024, the Vitamin K1 injectable emulsion USP, 10 mg/mL market achieved annual sales of approximately $19.7 million in the US

India, Belgium discuss ways to enhance trade in pharma, agri products

India and Belgium have agreed to establish mechanisms to resolve trade issues in areas such as pharma and agri products to boost bilateral trade, according to an official statement issued on Tuesday. The issues were discussed during the meeting between Commerce and Industry Minister Piyush Goyal and Belgian Minister of Foreign Affairs and Foreign Trade Bernard Quintin, in Brussels. "Regulatory barriers, particularly in the approval processes for pharmaceuticals and agri-products, were also discussed, with both sides agreeing to tackle these challenges through continuous dialogue," the commerce ministry said. It said that the two ministers agreed to establish stronger mechanisms for resolving trade issues. The leaders also discussed the progress of the EU-India Free Trade Agreement (FTA) talks and emphasised the importance of prioritising trade issues to streamline negotiations and strengthen economic ties. Emerging sectors such as renewable energy, life sciences, infrastructure, .

PharmEasy founders step back to launch new venture in consumer space

Siddharth Shah, chief executive officer (CEO) and managing director (MD) of PharmEasy has also invested in the new venture in his personal capacity

Indore SEZ exports drop by 6.5% due to lower pharmaceutical orders

Exports from Indore's Special Economic Zone (SEZ) fell by about 6.50 per cent to Rs 9,766.53 crore in the first nine months of 2024-25 due to a decrease in orders from pharmaceutical units, an official said. The Union Commerce and Industry Ministry official on Friday said that this SEZ, which has factories for different products, had exported products worth about Rs 10,449 crore between April and December in the financial year 2023-24. He said that medicines account for about 70 per cent of the exports from Indore SEZ. The official said that 59 plants in different sectors including medicine, packaging material, engineering, textile manufacturing and food processing are running in Indore SEZ spread over 572 hectares. Of these, 22 units are from the pharmaceutical sector alone.

AstraZeneca Pharma share price rises 3% on CDSCO nod for Eculizumab

AstraZeneca share rose after it that the company has secured permission to import pharmaceutical formulations of new drug for sale or for distribution in Form CT-20 from CDSCO

Sun Pharma's unit Taro to acquire 100% stake in Antibe Therapeutics

The acquisition is expected to be completed before March 7, 2025, subject to approval from the Ontario Superior Court of Justice

PAG acquires majority stake in pharma company Pravesha Industries

PAG has been investing in India since 2009 and currently manages over $3 billion in assets in the country

India striving to be global healthcare custodian: Torrent's Samir Mehta

The Indian pharmaceutical industry is aiming to more than double its size to USD 120-130 billion by 2030 as it looks to ride on the back of innovation to become the healthcare custodian of the world, Indian Pharmaceutical Alliance (IPA) president and Torrent Group chairman Samir Mehta said. In the last 25 years, the Indian pharma industry has grown nearly 20 times - a market size of USD 58 billion from USD 3 billion in 1999-2000, contributing equally to domestic sales and exports today. The sector is among the top five contributors to India's trade surplus, which has grown to USD 19.5 billion from merely USD 1 billion in 1999-2000. "The journey of Indian pharma is a testament to how key policy reforms coupled with entrepreneurial spirit have nurtured the sector's growth," Mehta wrote in an article on the occasion of IPA completing 25 years. "The Indian pharmaceutical sector stands at a critical juncture as India heads toward 2047. From job creation to global trade and innovation to .

MSME Pharma units get breather as govt extends Schedule M deadline

Pharma cos with turnover of Rs 250 cr or less can submit an application to the central drugs regulator for one one-year extension

Budget wishlist: Pharma firms seek simplified taxes, stronger PLI scheme

Among other demands is the removal of Section 194R, related to marketing samples, which would ease business operations

Lupin acquires Huminsulin from Lilly to strengthen diabetes portfolio

The Huminsulin range is vital for managing both type 1 and type 2 diabetes, helping control blood sugar levels in adults and children

Pharma dept reprimands AbbVie Healthcare for unethical marketing practices

Company sponsored 'extravagant pleasure trips' abroad of 30 doctors, violating code on pharmaceutical marketing practices

Senores Pharma IPO sees 13.88 times subscription on day two of bidding

Senores Pharmaceuticals' initial public offering garnered 13.88 times subscription on Monday, the day two of bidding. The Rs 582-crore initial share sale got bids for 11,84,54,740 shares, as against 85,34,681 shares on offer, as per NSE data. The portion for Retail Individual Investors (RIIs) received 38.34 times subscription, while the non-institutional investors segment got subscribed 24.48 times. Qualified Institutional Buyers (QIBs) part received 35 per cent subscription. Senores Pharmaceuticals Ltd on Thursday said it has secured nearly Rs 261 crore from anchor investors. The IPO will conclude on December 24. The IPO has a price range of Rs 372-391 per share. The Ahmedabad-based company's IPO is a combination of fresh issuance of shares worth Rs 500 crore and an Offer-for-Sale (OFS) of up to 21 lakh shares valued Rs 82.11 crore, by promoters and other selling shareholders, at the upper-end of the price band. Proceeds from the fresh issue will be utilised for setting up a ...

Despite short-term blip, Sun Pharma remains favourite among investors

According to Bloomberg, 30 of 41 analysts are bullish on Sun Pharma, while the remaining seven have a neutral rating and only 4 are bearish

Senores pharma IPO subscribed 1.78 times on Day 1, retail demand strong

The initial share sale of Senores Pharmaceuticals Ltd got subscribed 1.78 times on Friday, the first day of bidding. The Initial Public Offer (IPO) received bids for 1,51,51,550 shares against 85,34,681 shares on offer, according to NSE data. Retail Individual Investors (RIIs) part fetched 7.19 times subscription while the quota for non-institutional investors got subscribed 1.67 times. Qualified Institutional Buyers (QIBs) quota got subscribed 1 per cent. Senores Pharmaceuticals Ltd on Thursday said it has secured nearly Rs 261 crore from anchor investors. The Rs 582-crore IPO will conclude on December 24. The IPO has a price range of Rs 372-391 per share. The Ahmedabad-based company's IPO is a combination of fresh issuance of shares worth Rs 500 crore and an offer for sale (OFS) of up to 21 lakh shares valued Rs 82.11 crore, by promoters and other selling shareholders, at the upper end of the price band. Proceeds from the fresh issue will be utilised for setting up a manufactur