Pharmaceuticals Financial News

Non-institutional investors drove the strong demand with a subscription of 22.8 times, followed by retail investors, whose category was booked 13.8 times. The part reserved for QIB investors was booked the least at 2.4 times.

Mankind Pharma on Wednesday reported a 10% year-on-year (YoY) jump in net profit to Rs 543 crore in Q1FY25 led by strong domestic formulation sales. The drug maker reported net profit of Rs 494 crore in the corresponding period of previous year.

Rajshree Sugars & Chemicals Ltd.(up 6.35%), Bajaj Hindusthan Sugar Ltd.(up 3.44%), Ponni Sugars(Erode)Ltd.(up 3.08%), Shree Renuka Sugars Ltd.(up 2.62%), Mawana Sugars Ltd.(up 2.40%), Rana Sugars Ltd.(up 2.37%), Balrampur Chini Mills Ltd.(up 2.17%), Triveni Engineering & Industries Ltd.(up 2.16%), KCP Sugar & Industries Corporation Ltd.(up 1.65%) and Sakthi Sugars Ltd.(up 1.53%) stood among the top gainers.

Shares of Divi's Laboratories Ltd.(up 2.79 per cent), Zydus Lifesciences Ltd.(up 2.48 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 1.45 per cent), Aurobindo Pharma Ltd.(up 1.36 per cent) and Lupin Ltd.(up 1.12 per cent) ended the day as top gainers in the pack.

patient assistance programme (PAP), which is designed to provide free access to drugs which are otherwise expensive, should be kept outside the scope of trade margin rationalisation (TMR).

benefits of production-linked incentive (PLI) schemes in textiles, food processing and pharmaceuticals to more products in these sectors, said people with knowledge of the matter. “There are two-three sectors where expansion of products in PLI is proposed which is at the cabinet level. More products are proposed to be added in sectors such as textiles,” said an official.

Standard Glass Lining Technology Limited on Friday said it has filed a Draft Red Herring Prospectus (DRHP) with the capital markets regulator Securities Exchange Board of India (SEBI) to raise Rs 600 crore through an initial public offer (IPO). The city-based firm in the DRHP said the public issue comprises a fresh issue of shares with a face value of Rs 10, aggregating up to Rs 250 crore and an offer for sale of 18.444 million shares of Rs 10 each, aggregating up to Rs 350 core.

Sun Pharmaceutical Industries Ltd on Friday said the US health regulatory has approved its LEQSELVI (deuruxolitinib) drug for the treatment of adults with severe alopecia areata. The approval by the US Food and Drug Administration (USFDA) is for LEQSELVI (deuruxolitinib) 8 mg tablets, Sun Pharma said in a regulatory filing.

Laurus Labs Ltd.(up 3.83 per cent), Divi's Laboratories Ltd.(up 3.81 per cent), Cipla Ltd.(up 2.8 per cent), Sun Pharmaceutical Industries Ltd.(up 2.63 per cent) and Abbott India Ltd.(up 2.36 per cent) were among the top gainers.

Khaitan Chemicals & Fertilizers Ltd.(up 11.18%), Sikko Industries Ltd.(up 4.11%), Rama Phosphates Ltd.(up 1.76%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 0.68%), Krishana Phoschem Ltd.(up 0.67%), Agro Phos India Ltd.(up 0.41%), Zuari Agro Chemicals Ltd.(up 0.21%) and Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 0.12%) stood among the top gainers.

Bajaj Hindusthan Sugar Ltd.(up 6.50%), Sakthi Sugars Ltd.(up 6.16%), Triveni Engineering & Industries Ltd.(up 5.65%), KCP Sugar & Industries Corporation Ltd.(up 5.59%), Simbhaoli Sugars Ltd.(up 4.98%), Magadh Sugar & Energy Ltd.(up 4.93%), Ugar Sugar Works Ltd.(up 4.88%), Rajshree Sugars & Chemicals Ltd.(up 4.43%), Shree Renuka Sugars Ltd.(up 4.15%) and EID Parry(India)Ltd.(up 3.32%) stood among the top gainers.

HCL Technologies, Data Patterns and Shriram Finance among a host of other companies are likely to remain in focus on Monday as they declared July 23 as the record date for the purpose of determining the eligible shareholders for the dividend payment. This means that today is the last day to buy the shares of these companies in order to be able to qualify for the dividends announced.

orphan drugs from the government-set price controls, people in the know told ET. It has asked the government to do away with the existing practice of 50% price cuts upon patent expiry, arguing that the government's price-setting provisions will stymie innovation. In a recent meeting held with the Department of Pharmaceuticals (DoP), the OPPI also sought exemption from price controls for drugs used for rare diseases.

Out of the lot, two are Nifty companies, i.e., HCL Tech and Shriram Finance, along with other names like PFC, MRF, and RBL Bank.

European shares fell on Friday and were set for weekly losses, hurt by lower commodity prices and as a rout in global technology shares extended, while investors assessed more earnings updates. The pan-European STOXX 600 index fell 0.6% by 0715 GMT, slipping to a more than two-week low, amid a broader selloff across sectors.

Supreme Court has dismissed pharmaceutical major Sun Pharma's plea against a demand notice of Rs 4.65 crore raised by National Pharmaceutical Pricing Authority (NPPA) to recover the amount overcharged by the company for anti-bacterial infection drug Roscilox. Sun Pharma has challenged the NPPA's demand notices of 2005. The company was directed to deposit the overcharged principal amount of Rs 2,15,62,077 for the period April 1996 to July 2003 and the interest on this amount (Rs 2,49,46,256) for Roscilox, a brand of a Cloxacillin-based drug formulation The amount charged was more than that fixed by the government under the provisions of the Drugs (Price Control) Order, 1995 (DPCO). The pharma company has already paid a sum of Rs 1.25 crore towards the demand made by the NPPA.

Glenmark Pharmaceuticals Ltd.(up 0.55 per cent), Mankind Pharma Ltd.(up 0.52 per cent), Abbott India Ltd.(up 0.35 per cent) and Sanofi India Ltd.(up 0.17 per cent) were among the top gainers.

Mint. “Growth in the traditional basket of exports (comprising agriculture and allied products, gems and jewellery, and textiles) declined on the other hand." Also read | India's electronics, pharma, engineering goods exports beat global trade blues Exports of electronic goods, which primarily involve their final assembly, surged nearly fivefold in value terms to $29 billion in 2023-24 from the level seen in 2017-18, show data available with India’s commerce ministry. Exports of engineering goods increased from $78.65 billion in value terms in FY18 to $109.22 billion in FY24, while that of drugs and pharmaceutical products climbed from $17.27 billion to $27.82 billion in that period.

medical equipment market was worth $11 billion in 2022, making up 1.5% of the global market. The department estimates that the sector may grow to $50 billion by 2030 with a compounded annual growth rate (CAGR) of 16.4%. “The department of pharmaceuticals has submitted a new proposal on the meditech sector to the finance ministry for final consideration," the second person added, adding the final contours of the proposal are still being worked on.

Piyush Goyal has called for enhancing collaborations among trusted partner countries for smooth supply of critical minerals, semiconductors, pharmaceuticals, and green energy, an official statement said on Wednesday. The minister proposed this collaboration during the G7 Trade Ministers' meeting at Reggio Calabria, Italy. He also highlighted the importance of analyzing global supply chains' robustness in times of crisis like pandemic, Ukraine-Russia conflict, and Red Sea crisis. Goyal said that efforts are on in various countries to build resilient supply chains under platforms like the G20 Generic Framework for Mapping GVCs (global value chains), the 14 Member IPEF (Indo-Pacific Economic Framework for Prosperity) association, Trilateral Supply Chain Resilience Initiative (SCRI), and India-EU TTC (trade and technology council).

Russia, including by encouraging rupee-rouble trade and pushing Moscow to lift non-tariff barriers, New Delhi said on Monday, in the wake of Prime Minister Narendra Modi's visit to Moscow. Old partners India and Russia have stepped up trade since Russia invaded Ukraine in early 2022, but the increase has been overwhelmingly one-way, dominated by India buying Russian oil shunned by traditional customers in Europe. Surging Russian exports to India accounted for $61.43 billion of the $65.7 billion in trade between the two countries in the last fiscal year that ended in March.