Page 2 - Pharmacy

Divi's Lab Q3 result: Profit up 65% to Rs 589 cr on robust market sales

Drug firm Divi's Laboratories on Monday said its profit after tax (PAT) increased 65 per cent to Rs 589 crore for the December quarter, on the back of robust sales across markets. The company had reported a profit after tax (PAT) of Rs 358 crore for the October-December quarter of last fiscal. Revenue from operations rose to Rs 2,319 crore in the third quarter as against Rs 1,855 crore in the year-ago period, Divi's Laboratories said in a regulatory filing. The drug firm noted a part of the Kakinada Project (Unit-III) commenced commercial operations from January 1, 2025. The rest of Kakinada project is being implemented and is expected to be operational in about six months, it added. "We have capitalised assets of Rs 433 crore for the quarter and of Rs 557 crore for the nine-month period of the current fiscal year. Of this, capitalisation for Kakinada Project is Rs 418 crore during the 9-month period," the drug firm stated. The company said its board has approved the re-appointme

Doctors may face suspension in NMC probe over pharma-sponsored trips

This was in violation of the UCPMP rules, which regulate interactions between pharmaceutical companies and HCPs and prohibit foreign trips, gifts, and inducements as unethical marketing practices

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, .

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

AI, machine learning to help Indian pharma industry to pivot on innovation

As technological advancements like AI, machine learning and precision medicine revolutionise drug discovery, manufacturing and patient care, Indian pharmaceutical industry is set for a 'profound transformation' in 2025 with innovation, wider global access and improvement in quality becoming key themes for the future. The industry, which is expected to grow nearly two-fold to around USD 130 billion in size by 2030, is looking to take advantage of conducive policies, demographic and digital talent, in making India play a pivotal role in advancing global health for all. Currently accounting for around 20 per cent of the overall generic drug sales globally, the Indian pharma industry is focussing on research excellence and innovation in order to position the country as a global hub for high-quality, affordable pharmaceuticals. "The Indian pharma market is expected to move up to USD 120-130 billion by 2030 from the current size of USD 58 billion. Initiatives in terms of quality, innovati

Big Pharma's bet on China biotech a rare trade bright spot amid tensions

Chinese biomedical research is on the cusp of a breakthrough just as the industry starts to face serious headwinds

AstraZeneca raises expectation for next year profits after Q3 performance

AstraZeneca now expects 2024 revenue and core earnings per share to grow by a high-teens percentage, from a previous forecast of a mid-teens percentage at constant currency rates for both revenue

Indian pharmacopoeia standard used by 11 countries: DCGI Rajeev Raghuvanshi

The WHO-led experts team approved India's vaccine regulatory system after an in-depth scientific review, conducted between September 16 and 20, as per a statement by the Ministry of Health and Family

CVS Health likely to explore options including potential break-up

CVS is led by healthcare industry veteran Karen Lynch, who previously headed the Aetna unit and is temporarily overseeing the business with Chief Financial Officer Tom Cowhey

World Pharmacist Day 2024: Date, History, significance, wishes and quotes

Every year on September 25, 2023, World Pharmacist Day is observed as a special day to honour and acknowledge pharmacists for their enormous contributions to enhancing world health

Orchid AMS eyes Rs 300 cr turnover in 3 years for antimicrobial resistance

Orchid Pharma's newly-formed antimicrobial solutions division is targeting a turnover of up to Rs 300 crore in the next three years with about 250 strong salespeople onboard while combating the challenge of antimicrobial resistance in India, according to a top company official. Orchid AMS (Antimicrobial Solutions) is targeting to partner with around 2,500-3,000 hospitals and healthcare institutions in the next two to three years to implement effective antimicrobial stewardship programmes (AMSPs). Antimicrobial resistance is one of the biggest healthcare challenges beyond the hospitals as medications are available easily without prescriptions and antibiotics are also coming in through poultry, fish and through crops, Rajnish Rohatgi, CEO, Orchid AMS, a division of Orchid Pharma, told PTI. "This is a humongous issue. We felt that not only from a business aspect of creating a difference but it provides us a motivating purpose beyond business and to give back to society in our own way,

Akums Drugs scripts a turnaround, reports Rs 60 cr profit in Q1FY25

Akum's revenue from operations in Q1FY25 came in at Rs 1019.1 crore, a rise of 5.08 per cent Y-o-Y

Zydus Lifesciences to have 50% stake in Sterling Biotech from Perfect Day

Zydus Lifesciences on Saturday said it has inked a pact with Perfect Day Inc to acquire 50 per cent stake in Sterling Biotech. As part of the deal, Perfect Day Inc, a Temasek portfolio company, will sell its 50 per cent shareholding in Sterling Biotech for an undisclosed amount. Post the transaction, Sterling Biotech will become a 50:50 joint venture with equal representation on the Board, Zydus Lifesciences said in a statement. Financial details of the deal were not shared. The JV will establish a manufacturing facility to manufacture fermented animal-free protein to cater to the global markets, it added. The acquisition also marks Zydus' foray into specialised biotech products for health and nutrition, specifically catering to consumers who prefer animal-free protein or suffer from lactose intolerance, the Gujarat-based firm said. Perfect Day's precision-fermented protein is found in ice creams, cream cheese, sports nutrition products, and baked goods with high functionality ..

'CM's pharmacy stores' on anvil to make generic medicines available: Stalin

Tamil Nadu Chief Minister M K Stalin on Thursday announced launching pharmacy outlets 'Mudalvar Marunthagam,' (Chief Minister's Pharmacy) soon to ensure the availability of generic and other medicines at low cost to the people. In his Independence Day address, Stalin said over 75,000 openings in the government sector will be filled by January 2026. The Chief Minister's pharmacy scheme will be launched next year, on the day of Pongal, the harvest festival, (January 14, 2025) and as many as 1,000 pharmacy outlets will be opened in the first phase. In order to effectively implement the scheme, pharmacists and cooperative societies will be provided by the government necessary credit facilities and Rs 3 lakh subsidy, he said. Also, he announced 'Mudalvarin Kakkum Karangal' scheme for the benefit of retired personnel of the armed forces. Under the scheme, the retired personnel will get a loan of up to Rs 1 crore to launch business ventures.

Alembic Pharma Q1FY25 results: Net profit increases 12% to Rs 135 cr

Alembic Pharmaceuticals on Thursday said its consolidated net profit increased by 12 per cent to Rs 135 crore for the first quarter ended on June 30, 2024. The drug firm had reported a net profit of Rs 121 crore for the April-June quarter of last fiscal. Total income increased to Rs 1,564 crore for the June quarter as against Rs 1,498 crore in the year-ago period, Alembic Pharmaceuticals said in a regulatory filing. "India branded business continues to work on improving the execution ability both in quality and scale," Alembic Pharmaceuticals MD Shaunak Amin said. The specialty and animal health segment witnessed robust growth, he added. "The USFDA conducted an audit at our formulation facility F1, without any observations, underscoring our dedication to compliance and quality. The US business grew by 18 per cent during the quarter," Amin said. Shares of the company ended 0.11 per cent down at Rs 1,218.65 apiece on the BSE.

Senores Pharma files IPO with Sebi, aims to raise Rs 500 cr via fresh issue

Senores Pharmaceuticals Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). 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 27 lakh equity shares by promoters and other selling shareholders, according to the draft red herring prospectus (DRHP). The offer also includes a reservation for a subscription by eligible employees. The pharma company may consider raising up to Rs 100 crore as pre-IPO placement. If such placement is completed, the fresh issue size will be reduced. Proceeds from its fresh issuance will be utilised for setting up a manufacturing facility for the production of sterile injections in its Atlanta facility; funding the working capital requirements of the company and its subsidiaries; supporting inorganic growth through acquisition and other strategic initiatives and payment of debt. Besides, a portion will

AstraZeneca raises sales and profit forecast as demand for therapies grows

AstraZeneca's drug pipeline has evolved significantly under CEO Pascal Soriot since he took over more than a decade ago

Emcure Pharma seeks to raise Rs 1,952 cr through IPO, issue opens July 3

Fourth largest IPO of 2024; company will use the proceeds to repay debt and for general corporate purposes

Australia mulling to outlaw vape sales outside pharmacies from next week

Australia plans to outlaw the sale of vapes outside pharmacies from next week under some of the world's toughest restrictions on electronic cigarettes, the health minister said on Monday. The government had reached a compromise with the minor Greens party to get the legislated restrictions through the Senate this week, Health Minister Mark Butler and the party said. Our world-leading laws will return vapes and e-cigarettes to what they were originally sold to the Australian community and to governments around the world as therapeutic products to help hardened smokers kick the habit, Butler said in a statement. From Monday next week, it will be unlawful to supply, manufacture, import or sell a vape outside a pharmacy in Australia, he said. The ban applies to all vapes regardless of whether they contain nicotine. There are currently no restrictions on what retail outlets can sell vapes. Many products do not disclose that they contain nicotine. The Greens had insisted on amendments t

Doctors not mandated to inform patients on drug side effects: Delhi HC

Delhi High Court dismissed a public interest litigation that sought to enforce the compulsory disclosure of drug side effects by doctors to the patients