Page 6 - Pharmaceutical

Revenue of top domestic pharmaceutical firms to grow by 7-9% in FY24: Icra

Revenue of top domestic pharmaceutical companies is likely to grow by 7-9 per cent in the current fiscal, according to rating agency Icra. The growth will be supported by an 8-10 per cent expansion in the domestic market and a 6-8 per cent rise in the US market, while revenues from the European and emerging markets are expected to increase by 3-5 per cent and 8-10 per cent, respectively, it noted. Icra said it has taken into account a sample set of 25 Indian drug firms, which constitute 60 per cent of the overall domestic industry. The segment reported a growth of 10 per cent in the 2022-23 fiscal. Icra said that a continued focus on complex generics/speciality launches in the US market is expected to support industry margins in FY2024. The overall credit profile of Indian pharmaceutical companies is expected to remain healthy, supported by their stable earnings profile, comfortable leverage and coverage metrics, and strong liquidity position, it added. "The 8-10 per cent growth

1 drug sample spurious and nearly 48 substandard in June inspection

Eye-drops made by Indiana Ophthalmics in Gujarat that have been under the scanner also feature in the list

Jubilant Pharmova's Q1 consolidated net profit dips 87% at Rs 6 cr

Jubilant Pharmova Ltd on Wednesday reported an 87 per cent decline in consolidated net profit at Rs 6 crore in the first quarter ended June 30, impacted by higher expenses. The company had posted a consolidated net profit of Rs 46.8 crore in the same period last fiscal, Jubilant Pharmova said in a regulatory filing. Consolidated total revenue from operations were at Rs 1,586.9 crore, as compared to Rs 1,451.7 crore in the year-ago period, it added. Total expenses in the first quarter were at Rs 1,568.9 crore, as compared to Rs 1,393.8 crore in the corresponding period a year ago. Among various segments, Jubilant Pharmova said the radiopharmaceuticals vertical clocked a revenue of Rs 204 crore in the first quarter, while the radiopharmacies registered Rs 487 crore revenue. The generics business had a revenue of Rs 202 crore and the contract development and manufacturing organisation (CDMO) API segment had posted revenue of Rs 177 crore.

NIPER JEE 2023 exam is set to be held on July 13, check full update below

NIPER JEE exam is set to be conducted on July 13. The exam will be held in a computer-based test mode, and candidates can download the admit cards from the official website niperguwahati.ac.in

Aurigene Pharmaceutical Services to set up $40 mn facility in Hyderabad

Aurigene Pharmaceutical Services Ltd will establish its state-of-the art biomanufacturing facility at an investment of USD 40 million here, which will generate employment to more than 250 people. Telangana Minister for IT and Industries KT Rama Rao in a tweet said Hyderabad offers an excellent ecosystem for biologics Research and Development with 30-40 per cent of total capacity for biologics in India. I'm happy to note that this investment has further bolstered Hyderabad's status as the top choice for biopharmaceutical research and production. I'm confident that we will continue to make significant strides in promoting "Complex manufacturing at scale," he said in the tweet. Aurigene Pharmaceutical Services is a city-based leading contract research, development, and manufacturing organization (CRO/CDMO) and a long-term partner providing end-to-end solutions thereby accelerating innovation.

Eli Lilly's 'triple G' anti-obesity drug leads to 24% weight loss in trial

The pharma company published the results of phase two of the clinical trial of Retatrutide, showing impressive weight loss and regulation of blood sugar levels in undertrials

Instead of cough syrup testing, need to go for root-cause analysis: Bhaskar

Pharmaceutical exports from India have come under the scanner after sporadic incidents of contaminated or substandard medicines

LIVE: UN Yoga Day celebration makes to Guinness World Record book

Catch all the live updates from across the globe here

Natco gets USFDA approval for Tipiracil Hydrochloride, Trifluridine Tablets

Shares of Natco Pharma Ltd, on Friday, fell over 1 per cent at Rs 632 on BSE

Need sectoral strategies to enhance export competitiveness: IIPMB Director

There is a need to develop sectoral strategies for enhancing export competitiveness, especially for electronics, engineering, pharmaceutical, and high-tech industries with a view to increase India's outbound shipments to USD 2 trillion by 2030, a trade expert said on Tuesday. To achieve the target of USD 2 trillion in services and goods exports by 2030, India requires an export growth of 14.5 per cent per annum. "Competitiveness across the exports value chain is the key to India's exports growth and its sustainability. In addition to generalised strategies, India needs to evolve sectoral strategies for export competitiveness, especially for engineering goods, pharmaceutical, electronics, and high-tech industries," Indian Institute of Plantation Management Bengaluru (IIPMB) Director Rakesh Mohan Joshi said. Sectors like polished diamonds, jewellery, passenger cars, telecommunication equipment would help in increasing the shipments. In terms of countries, tremendous unexplored potent

Dr Reddy's completes Phase-I study in proposed biosimilar of tocilizumab

Global Phase III study is being initiated to compare the efficacy, safety, tolerability and immunogenicity of DRL_TC with the reference product

From June 1, cough syrups must be tested at govt labs before export

Presently over 80% of the antiretroviral drugs used globally to combat AIDS are supplied by Indian pharmaceutical firms

Dispute between two promoters not to impact corporate performance: Hikal

Pharmaceuticals and crop protection firm Hikal Ltd on Thursday refuted allegations by proxy advisory firm InGovern Research Services that the battle between its two promoters is impacting corporate performance. Hikal is in the midst of a battle between two promoter groups -- the Hiremaths who own 34.84 per cent stake and Baba N Kalyani (BNK)-led side that holds 34.01 per cent of the company. Minority shareholders own 31.15 per cent. InGovern in a note to shareholders had stated that in the absence of an agreement between the two warring promoter groups due the proportion of shareholding makes it difficult for any special resolution to be passed. It was also likely to slow down decision-making and resultantly, the interest of the company is likely to be compromised. In a detailed response to points raised by InGovern, Hikal said, "The document is a one-sided and an ill-informed attempt to damage the credibility of the company and its management and has been made with the intention of

Zydus Lifesciences gets final approval from USFDA to manufacture ulcer drug

Sucralfate Tablets USP, 1 gram had annual sales of $84 million in the United States

Mankind Pharma IPO opens today: Check GMP, price band, other details here

Mankind Pharma IPO listing date: The IPO is likely to list on NSE and BSE on May 8

Licences of 18 pharma firms cancelled for manufacturing spurious drugs

In a major crackdown against the manufacture of substandard drugs, central and state regulators conducted joint inspections at 76 pharma companies and cancelled the licences of 18 of them for producing spurious and adulterated drugs, official sources said on Tuesday. The inspections were carried out across 20 states and Union territories in the past 15 days, they said. A source said that the action has been taken against 76 companies in the first phase of a special drive against the manufacture of substandard drugs. "Licences of 18 pharma companies have been cancelled for manufacturing spurious and adulterated drugs and for violating GMP (good manufacturing practice).... Besides, 26 firms have been given show-cause notices," an official source said. The sources said that as part of the special drive, the regulators have identified 203 firms. A majority of the companies are from Himachal Pradesh (70), followed by Uttarakhand (45) and Madhya Pradesh (23). Recently, questions have b

Key brands, new launches to sustain Abbott India's outperformance

Margins to remain healthy on the back of cost-saving measures

India taking steps to counter manufacture of illegal synthetic drugs: INCB

INCB chief Jagjit Pavadia said, "India has witnessed the rise of commercial chemical factories that have been adapted to illicitly manufacture large quantities of synthetic drugs and their precursors"

Bristol Myers Squibb to invest Rs 800 cr for drug development in Hyderabad

Bristol Myers Squibb, a world's leading biopharmaceutical company will establish a state of-the-art site here to expand its global drug development and IT capabilities with an investment of Rs 800 crore, a Telangana government press release said on Thursday. The announcement was made after Telangana Minister KT Rama Rao's meeting with Samit Hirawat, Executive Vice-President, Global Drug Development at BMS, who is in the city to participate in BioAsia 2023, it said. The company plans to begin operations in Hyderabad later in 2023, with the potential over the next few years to employ approximately 1,500 people who will be engaged in cutting-edge Research and Development and digital activities, a BMS release said. Rama Rao said, "I am delighted to welcome Bristol Myers Squibb to the vibrant ecosystem of Hyderabad. It is indeed a matter of pride that BMS, which is one of the most innovative and world leading biopharmaceutical companies, has chosen Hyderabad and I strongly believe this .

Boosting pharma research

Govt should not solely depend on monetary incentives