Page 8 - Pharmaceutical
Govt working on PLI schemes for more products to boost manufacturing: Goyal
The government had rolled out PLI schemes for 15 key sectors, including technology, textile, automobile, pharmaceutical drugs, speciality steel, electronics, among others
 "Govt working on PLI schemes for more products to boost manufacturing: Goyal")
Currency internationalisation: India pushes for rupee trade with Cuba
In July, the RBI had unveiled a mechanism to settle international transactions in rupee to promote the growth of global trade, with emphasis on exports from India
 "Currency internationalisation: India pushes for rupee trade with Cuba")
Pharma body clears Micro Labs of charges of spending Rs 1000 cr on freebies
Indian Pharmaceutical Alliance ethics committee submits report to NPPA
 "Pharma body clears Micro Labs of charges of spending Rs 1000 cr on freebies")
Largest Ibuprofen API maker eyes double revenue in next four years
As part of de-risking their business, they have started reducing the share of ibuprofen in their overall turnover, and add more popular products to the portfolio
 "Largest Ibuprofen API maker eyes double revenue in next four years")
DOLO-650 makers distributed freebies worth Rs 1,000 cr to doctors: FMRAI
The petitioner, while seeking statutory backing to the Uniform Code of Pharmaceutical Marketing Practices (UCPMP), said that corruption in pharma marketing practices is yet unregulated in India
 "DOLO-650 makers distributed freebies worth Rs 1,000 cr to doctors: FMRAI")
Specialty drugs may push Sun Pharma's US biz beyond $2 bn by 2025
The share of specialty medicines in overall pharmaceutical spending has been consistently increasing over the past decade, from 22 per cent in 2011 to 39 per cent in 2021
 "Specialty drugs may push Sun Pharma's US biz beyond $2 bn by 2025")
Senate Democrats approve big Biden deal worth $740 bn; House to vote next
Democrats pushed their election-year economic package to Senate passage, a hard-fought compromise less ambitious than Biden's original domestic vision but one that still meets deep-rooted party goals
 "Senate Democrats approve big Biden deal worth $740 bn; House to vote next")
Bajaj Healthcare forays into highly-regulated opiate processing business
Bajaj Healthcare said it has received two orders from the central government to produce active pharmaceutical ingredients (API) from poppy capsules and other derivatives on an annual basis
 "Bajaj Healthcare forays into highly-regulated opiate processing business")
India's pharma exports touch Rs 1.8 trillion in FY22, flat over FY21
India ranks third worldwide for production in terms of volume and 14th by value, says commerce ministry.
 "India's pharma exports touch Rs 1.8 trillion in FY22, flat over FY21")
Growth trajectory, margins anc client additions to sustain for Laurus Labs
Some of the growth is captured in the price rally, higher valuations
 "Growth trajectory, margins anc client additions to sustain for Laurus Labs")
Dip in demand for Covid medicines takes a toll on drug sales in March
Covid related drugs contributed 40% of the pharma market last year
 "Dip in demand for Covid medicines takes a toll on drug sales in March")
India hopes Hyderabad 'pharma city' will break China's grip on industry
India's ability to secure not just its own drug supply but that of Africa, the Americas and Europe is at stake
 "India hopes Hyderabad 'pharma city' will break China's grip on industry")
Lupin launches generic medication, to be manufactured in Nagpur, in US
Drug maker Lupin on Tuesday said it has launched Sevelamer Hydrochloride tablets (800 mg), used to treat hyperphosphatemia in patients with chronic kidney disease, in the US market
 "Lupin launches generic medication, to be manufactured in Nagpur, in US")
Biocon beefs up biosimilar portfolio with $3.3-bn Viatris deal, shares fall
The company in a statement said that its subsidiary Biocon Biologics has inked a pact to acquire Viatris Inc's biosimilars business for consideration of up to USD 3.335 billion
 "Biocon beefs up biosimilar portfolio with $3.3-bn Viatris deal, shares fall")
Top pharma firms to hike R&D spend next 5 yrs as mkt eyes $130 bn revenue
Industry captains feel pandemic has opened up opportunities for the sector in India to emerge as a second source of raw material and finished products, after China
 "Top pharma firms to hike R&D spend next 5 yrs as mkt eyes $130 bn revenue")
Covid vaccine sales push Moderna to $12-bn profit in 2021
The vaccine maker's COVID-19 shots, which are now available in more than 70 countries, totalled USD 17.7 billion in sales last year, their first full year on the market
 "Covid vaccine sales push Moderna to $12-bn profit in 2021")
Purdue's Sacklers boost opioid settlement offer up to $6 billion
As part of the deal, Purdue will hand over nearly all of its assets to the states, cities and counties that are suing the drugmaker over its handling of the pain killer OxyContin
 "Purdue's Sacklers boost opioid settlement offer up to $6 billion")
Reckitt quarterly sales beat estimates on boost from hygiene products
The company has benefitted during the pandemic from people buying more cleaning products, besides cold and flu remedies like Lemsip and Strepsils
 "Reckitt quarterly sales beat estimates on boost from hygiene products")
Mankind Pharma acquires two derma and respiratory brands from Dr Reddy's
Mankind Pharma to take over manufacturing, marketing and distribution of both products in India; entire integration and transition of the brands likely to be completed by March
 "Mankind Pharma acquires two derma and respiratory brands from Dr Reddy's")
Hyderabad's Biophore to manufacture ingredients of Pfizer's Covid drug
Biophore India Pharmaceutical announced that it developed and started manufacturing the key intermediates of Nirmatrelvir, one of the active ingredients of Paxlovid, the latest anti-Covid therapy
 "Hyderabad's Biophore to manufacture ingredients of Pfizer's Covid drug")
