Page 4 - Pharmaceutical

60 drug makers join govt scheme to modernise pharma manufacturing units

Indian pharmaceutical companies recently came under the scanner after global supplies of certain medicines were found to be toxic

Venus Remedies up 8% on order win from UNICEF for bacterial infection drug

The uptick in stock price came after the company announced that it has secured an award for its antibiotic product, Ceftriaxone 1 gm, from UNICEF

Dozens of CVS drug recalls expose link to tainted factories in China, India

The drugs were among those sold by CVS Health Corp., the largest US pharmacy, under its store-brand label before being recalled

FDA warns against infant formula by Texas firm due to contamination

US health officials warned parents to avoid powdered infant formula sold by a Texas dairy producer, because a dangerous bacteria was found in one of the company's products. The Food and Drug Administration issued the alert Friday on Crecelac Infant Powdered Goat Milk Infant Formula, after a sample collected from a Texas store tested positive for cronobacter, which can cause deadly infections in babies. The same bacteria sparked recalls and shortages of infant formula in 2022 after it was detected at a major US formula factory. The Crecelac formula was imported and distributed by Dairy Manufacturers Inc., of Prosper, Texas, according to the FDA. Press releases from the FDA and the company did not specify where the product was produced or how widely it was distributed in the US Messages left for the company on Friday were not immediately returned. Last week, the company voluntarily recalled the Crecelac formula and another brand, Farmalac, because they had not received approval by the

MedPlus Health Q4 results: Consolidated net profit up 25.6% at Rs 33.39 cr

MedPlus competes with Reliance-owned Netmeds and Apollo Pharmacies among other retail pharmacies in the Indian OTC drugs market

Sun Pharma Q4 Preview: Profits may grow up to 41% on higher specialty sales

Sun Pharma is set to see a strong financial earnings on a year-on-year (Y-o-Y) basis for Q4FY23, showing a 8-14 per cent Y-o-Y jump in its topline

Piramal Pharma zooms over 10% on strong Q4 earnings; CDMO biz gives boost

In Q4FY24, Piramal Pharma reported a 102 per cent Year-on-Year (YoY) surge in Profit After Tax (PAT), totaling Rs 101.27 crore

Pharma major Lupin slides 5% as Q4 earnings miss street expectations

Mumbai-based Lupin posted a 52 percent year-on-year increase in consolidated net profit, reaching Rs 359.43 crore for the January-March quarter of FY24

Astrazeneca row: Only 7 in a million at risk of TTS, says ex-ICMR scientist

Former ICMR scientist Raman Gangakhedkar said the risk is highest after the initial dose, eventually decreasing with subsequent doses

Piramal Alternatives invests Rs 110 crore in Biodeal Pharmaceuticals

The funding will be utilised to improve Biodeal's infrastructure and production capacity

Advent PE begins merger process of Suven Pharma and Cohance Lifesciences

The merged platform will have mid-30s EBITDA margins, 30 per cent Return on Capital Employed (RoCE) and stable cash flow generation over FY20-23, the statement said

Earnings downgrade a bitter pill for pharma major Divi's Labs stock

Gross margins improved by 313 basis points on a sequential basis to 60.7 per cent given lower raw material costs and improved product mix

GlaxoSmithKline Pharma Q3 results: Profit declines 72% to Rs 46 crore

GlaxoSmithKline Pharmaceuticals on Monday said its consolidated net profit declined 72 per cent to Rs 46 crore for the December quarter. The drug firm had reported a net profit of Rs 165 crore in the year-ago period. Total income increased to Rs 833 crore for the third quarter of the current fiscal as compared with Rs 826 crore in the year-ago period, GlaxoSmithKline Pharmaceuticals said in a statement. "We remain committed to new category development in areas like adult immunisation with products like Shingrix to make a positive impact to the lives of the patients in India," GlaxoSmithKline Pharmaceuticals MD Bhushan Akshikar said. The company would continue to drive operational efficiency and explore new innovative solutions, including omnichannel strategy, to expand reach and coverage to the target segments, he added. Shares of the drugmaker declined 1.91 per cent to Rs 2,334.20 apiece on the BSE on Monday.

Akums Drugs files IPO papers with Sebi to raise Rs 680 cr via fresh issue

Akums Drugs and Pharmaceuticals Ltd has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The initial share-sale is a combination of fresh issue of equity shares worth Rs 680 crore and an offer-for-sale (OFS) of 1.86 crore shares by promoters and an existing investor, according to the draft red herring prospectus (DRHP) filed on Saturday. Those selling shares in the OFS are Sanjeev Jain, Sandeep Jain and Ruby QC Investment Holdings Pte Ltd. The company is looking to raise Rs 136 crore through a pre-IPO placement. If such placement is undertaken, then fresh issue size will be reduced. Proceeds from the fresh issue will be used to repay debt, fund working capital requirements of the company, pursue inorganic growth initiatives through acquisition and for general corporate purposes. Founded in 2004, Akums is a pharmaceutical contract development and manufacturing organization (CDMO) offering a comprehensive range of ...

USFDA finds new manufacturing lapses at pharma co Eli Lilly's plant: Report

Lilly said in a statement to Reuters that the inspection followed a company request to the FDA to make a change to its manufacture of migraine treatment Emgality

Bayer AG to hold off breakup plans despite investor pressure: Report

CEO Bill Anderson, at the helm since June last year, said in November he is weighing options to break apart the diversified company in a staggered fashion but would not rule out keeping all businesses

Lupin gets USFDA nod to market generic hyperuricemia treatment drug

Pharma major Lupin Ltd on Thursday said it has received approval from the US health regulator to market its generic Febuxostat tablets, indicated for the chronic management of hyperuricemia in adult patients with gout. The approval by the US Food and Drug Administration (USFDA) is for the abbreviated new drug application for Febuxostat tablets of strengths 40 mg and 80 mg, a generic equivalent of Uloric tablets, 40 mg and 80 mg, of Takeda Pharmaceuticals USA, Inc, Lupin said in a regulatory filing. The product will be manufactured at the company's Pithampur facility in India, it added. The company said Febuxostat tablets of strengths 40 mg and 80 mg are indicated for the chronic management of hyperuricemia (elevated serum uric acid level) in adult patients with gout who have an inadequate response to a maximally titrated dose of allopurinol; who are intolerant to allopurinol, or for whom treatment with allopurinol is not advisable. Febuxostat tablets had estimated annual sales of U

Price push: Domestic pharma market grew by 6.8% in 2023, shows data

With an 8 percent growth in the anti-infectives category, it is not surprising that GlaxoSmithKline Pharmaceuticals (GSK) Augmentin is the top selling brand in 2023, second year in a row

Glenmark cuts diabetes drug cost by 70% with first Indian biosimilar launch

Drug, marketed under the brand name Lirafit, is priced at approximately Rs 100 for a standard daily dose of 1.2 mg

Fostering R&D and innovation in pharma and medtech sector

The government pushes the frontier through an enabling policy and a novel scheme