Page 5 - Pharmaceutical

Exports to Australia see upward trend, owing to duty concessions under ECTA

Government officials said that there has been an uptick in exports of products, where duty concessions have been given under the trade deal

Lupin to acquire products in Europe, Canada from Sanofi for Rs 91 cr

Home-grown pharma major Lupin Ltd on Friday said it acquired a portfolio of established products in Europe and Canada from Sanofi for a purchase consideration of EUR 10 million (Rs 91 crore). Lupin Atlantis Holdings SA, Switzerland, a wholly-owned subsidiary of the company, has signed an asset purchase agreement with Sanofi, a French multinational pharmaceutical and healthcare company, for the purpose, Lupin said in a regulatory filing. The purchase consideration is EUR 10 million (Rs 91 crore) plus sales milestones up to EUR 8 million (Rs 72.8 crore), contingent upon future sales, it added. Under the agreement, Lupin will acquire brands AARANE in Germany and NALCROM in Canada and the Netherlands. The turnover of the said brands in these markets for the year ended March 31, 2023 was about USD 6.494 million (Rs 53.7 crore), the company said. "The proposed transaction is of strategic interest by bringing accretive assets in the respiratory field to help structure the company's new ..

GlaxoSmithKline completes VRS scheme as part of its business review

GlaxoSmithKline Pharmaceuticals has also established an Omnichannel Team, leveraging technology to enhance its reach and coverage across target segments

India's pharma business can reach $130 bn by 2030: Industry experts

India's pharmaceutical business may exceed USD 130 billion by 2030, supported by expanding market opportunities and heightened demand in the overseas markets, industry experts said on Tuesday. The business stood at over USD 50 billion for the 2022-23 fiscal, they noted. Chairman of PharmExcil (Pharmaceuticals Export Promotion Council of India) Veeramani S V said the Indian pharmaceutical industry is on a compelling growth trajectory, evidenced by an 8 per cent year-to-date increase in exports and a remarkable 29 per cent surge in October alone. "This growth is propelled by expanding market opportunities, heightened demand in the USA, and critical shortages of medicines in the US and Europe. Despite challenges in CIS countries, the global reception of Indian pharmaceuticals remains positive," he said. Veeramani noted that the domestic market has exhibited impressive growth, exceeding 10 per cent. "Driven by this momentum, I am confident in reaching the 130 billion mark by 2030," he

TMSEp564: Turmeric problem, EVs vs IGL, Prashant Jain, Ozempic effect

How big is India's adulterated turmeric problem? Will EVs eat into IGL's future? What does Prashant Jain think of markets in Samvat 2080? What is the Ozempic effect? All answers here

Pharma result preview: US stable, India muted in the second quarter

Hospital occupancy rates rise 200-400 bps, while diagnostic sector sees seasonal benefits

PM Janaushadhi Kendras-like stores for animal medicines on the cards

The Janaushadhi Kendras are a collaboration between government agencies and private entrepreneurs

Marksans Pharma gets USFDA approval for Esomeprazole Magnesium Capsules

The product will be manufactured at Marksans Pharma's formulation manufacturing facility in Goa, India

Suven Pharma gets a new board as Advent International completes stake buy

Advent had announced the acquisition of a significant stake in Suven Pharma in December of the previous year from the Jasti family

World Pharmacists Day 2023: Date, theme, history, importance and more

World Pharmacists Day is observed globally every year on September 25th. It serves to respect and value the contribution of pharmacists in improving global health

Strides Pharma soars 8% on USFDA nod for drug to treat heart diseases

Meanwhile, Strides said the board is scheduled to meet on September 25, to consider the combine CDMO interests of the group to become one of India's top specialty pharmaceuticals CDMOs

Lupin acquires five legacy brands from Meranini to solidify its portfolio

Lupin has already been marketing these brands in India since July 2021 under an agreement with A Menarini India Private Limited but will now have the full trademark ownership of the five brands

Sun Pharma, Pharmazz enter agreement to introduce Sovateltide in India

Sun Pharma said in a filing that it has been granted rights for marketing Sovateltide in India under the brand name Tyvalzi

How India has been supplying quality drugs affordably to the entire world

With Indian innovation coming into its own and the Indian pharma industry ushering in a new wave of healthcare concepts, we will see India strengthening its position as the pharmacy to the world

Generic medicines: Indian pharma market is at crossroads of systemic shift

Companies must start preparing their business models to adjust to the reality of the shift to medical practitioners prescribing only generic molecule names

Cipla, Torrent may need to divest 15 brands in buyout deal: Bernstein

Torrent has a strong presence in gastrointestinal, neurology, and cardiac segments

EFTA looking at reduction in trade barriers on pharma in pact with India

Four-nation bloc EFTA is looking at significant reduction in trade barriers on sectors such as machine tools, advanced chemicals, pharma, chocolates, Norwegian and Icelandic fish in the proposed free trade agreement with India, a Swiss minister said. Swiss State Secretary for Economic Affairs Helene Budliger Artieda also said that with India, the EFTA grouping is aiming for an ambitious and comprehensive agreement in trade in goods, services and protection of intellectual property rights (IPRs). India and European Free Trade Association (EFTA) states Iceland, Liechtenstein, Norway, and Switzerland - are negotiating a Trade and Economic Partnership Agreement (TEPA) with a view to boosting economic ties between the two regions. Negotiations on the agreement were officially launched in January 2008. 13 rounds of negotiations were held until autumn 2013 before the talks were put on hold. After talks were resumed in October 2016, a number of rounds have taken place. Regarding trade in

Doctors to be penalised for not prescribing generic drugs: NMC regulation

All doctors must prescribe generic drugs, failing which they will be penalised and even their license to practice may also be suspended for a period, according to the new regulations issued by the National Medical Commission. The National Medical Commission (NMC) in its 'Regulations relating to Professional Conduct of Registered Medical Practitioners" also asked doctors to avoid prescribing branded generic drugs. Even though doctors are currently required to prescribe generic drugs only, there are no penal provisions mentioned in the regulations issued in 2002 by the Indian Medical Council. The NMC regulations notified on August 2, stated that India's out-of-pocket spending on medications accounts for a major proportion of public spending on healthcare. "Generic medicines are 30 to 80 per cent cheaper than branded drugs. Hence, prescribing generic medicines may overtly bring down healthcare costs and improve access to quality care," it said. Under the generic medicine and prescrip

Top headlines: SBI beats RIL, becomes most profitable firm, and more

Business Standard brings you the top headlines at this hour

Nirma emerges as frontrunner for Glenmark's API arm as bid deadline ends

Nirma Ltd and Sekhmet Pharmaventures were among the shortlisted bidders for a controlling stake in GLS