Pharmaceuticals Financial News

New Delhi, India – June 26, 2024 –Flychem is a leading manufacturer and distributor of high-quality ingredients for personal care, home care, pharmaceuticals, food and beverages, agriculture, and nutraceuticals while prioritizing quality and sustainable practices. Flychem is proud to announce the launch of the world’s most advanced high-purity Encapsulated Salicylic Acid under the brand name KOSAVATM.

Mint. The strategic move is part of India's broader effort to diversify its trade partnerships and reduce its dependency on traditional markets. The scope of India's trade ties with New Zealand and South Africa, which is a key constituent of the South African Customs Union (SACU), is huge as India already shares robust trade relationships with both the countries.

“We are very excited with the way we have gained market share in recent times for our biosimilars in the US. We have always been sort of aiming for a 20% market share for our insulins globally and it is happening. I mean, it has happened in the US even sooner than we anticipated largely because of this huge demand. That has kind of created a large opportunity for us in insulins and I think we are benefiting from that, sort of windfall,” says Kiran Mazumdar Shaw, Executive Chairperson, Biocon. Wanted to begin by asking you about India because I think that is, of course, the biggest talking point at the IGF as well. Clearly it seems like a Goldilocks scenario for India, but the question to you is, is this optimism actually being shared and felt by corporate India as well?

Stock market today: Balaxi Pharma shares witnessed strong buying interest among Indian stock market bulls. The small-cap pharma stock opened upside at ₹120.90 per share and touched an intraday high of ₹129.45 apiece, recording an intraday high of over 7 percent during Tuesday deals.

Alkem Laboratories Ltd.(up 1.49 per cent), Granules India Ltd.(up 1.32 per cent), Divi's Laboratories Ltd.(up 1.24 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 0.75 per cent) and Sun Pharmaceutical Industries Ltd.(up 0.24 per cent) were among the top gainers.

Stocks that traded heavily or had substantial price changes on Monday: RXO, Alnylam Pharmaceuticals rise; ResMed, Sonoco Products fall

Lithium block, Katghora, and Rare Earth Element (REE) Block of Chhattisgarh with an FPO of 76.05% to Maiki South Mining Private Limited. India relies heavily on imports to meet its requirement for critical minerals like Lithium, Niobium and Rare Earth Elements (REE). These minerals find application in new-age technologies like electric vehicles, pharmaceuticals, and defence manufacturing.

Bannari Amman Sugars Ltd.(up 8.38%) stood among the top gainers.

Bank Nifty was down by -186.55(-0.36%) at 24 Jun 2024 10:44:58 IST.Other stocks such as Future Supply Chain Solutions, CMI, Bafnapharm, Kanani Industries, Secur Credentials hit their fresh 52 wk lows today.

Winners of six critical mineral blocks under the first round of auctions will be announced on Monday. The preferred bidder for the hotly contested Katghora block will be among those being unveiled, making it India’s first lithium and rare earth element (REE) mine. This bid round was launched on November 23 last year with 20 mines. But auctions for 14 of these blocks was annulled citing tepid response. Another 18 blocks were to be auctioned in the second round but bids for 14 have been scrapped due to the poor response. According to officials aware of the first round of bids, blocks holding phosphorite and fertiliser minerals have got 5-6 bids per mine. The lithium block in Chhattisgarh has got more than 10 bids while graphite mines have 4-5 bidders per block.

Indian firms had seized upon the opportunity thrown open by the Act to supply cheaper generics to American drug stores. Tapping chemistry skills abundantly available in the country, Indian pharma companies had become experts at reverse engineering off-patent drugs. In the past, Cipla had produced a less than a dollar anti-malaria drug, while Lupin had launched low-cost medication for tuberculosis.

Shares of Granules India Ltd.(up 3.89 per cent), Natco Pharma Ltd.(up 2.25 per cent), Ipca Laboratories Ltd.(up 0.98 per cent), Biocon Ltd.(up 0.85 per cent) and Dr. Reddy's Laboratories Ltd.(up 0.69 per cent) ended the day as top gainers in the pack.

₹418.01 crore worth IPO is a combination of fresh issue of 1.6 crore equity shares aggregating to ₹325 crore and offer for sale (OFS) component of 46 lakh shares aggregating to ₹93.01 crore.DEE Development IPO price band has been set at ₹193 to ₹203 per share. The IPO lot size is 73 shares.

India has been grappling with the issue of manufacturing and marketing of different drugs with the same brand name for long, a person in the know told ET. For example, the brand name, 'Olvance' for the antihypertensive drug, Olmesartan, and 'Oleanz', a brand of the antipsychotic drug, Olanzapine. Likewise, the brand, IMOX for amoxicillin tablets for humans, and INIMOX for a combination of amoxicillin and cloxacillin10 as an injection for veterinary use.

Also Read- Allied Blenders and Distillers IPO: Price band fixed at ₹267-281 apiece; check issue details, key dates, moreThe United Cotfab IPO's book running lead manager is Beeline Capital Advisors Pvt Ltd, and the issue's registrar is Purva Sharegistry India Pvt Ltd. Hence investors can check their allotment status on the website of Purva Sharegistry India Pvt Ltd They can also check allotment status on the BSE website .

Gilead Sciences, a biotech company focused on treatments for cancer and HIV, isn’t pitching itself as an obesity drug developer. But that hasn’t stopped some Wall Street analysts from trying to do that on its behalf. Seasoned Jefferies analyst Michael Yee published a market-moving note to investors last week: He dug up recent patents and cross-referenced them with prior data to unearth what looked like the makings of an early-stage metabolic program that could one day become an obesity program.

The NSE Nifty index closed 51.0 points up at 23567.0, while BSE Sensex ended up 141.34 points at 77478.93.

Avadh Sugar & Energy Ltd.(up 3.58%), Bannari Amman Sugars Ltd.(up 3.37%), Magadh Sugar & Energy Ltd.(up 1.97%), Simbhaoli Sugars Ltd.(up 1.23%), Kothari Sugars & Chemicals Ltd.(up 1.05%), Shree Renuka Sugars Ltd.(up 1.00%), Bajaj Hindusthan Sugar Ltd.(up 0.99%), Mawana Sugars Ltd.(up 0.90%), Triveni Engineering & Industries Ltd.(up 0.75%) and KCP Sugar & Industries Corporation Ltd.(up 0.73%) stood among the top gainers.

chemical companies are expected to realign their capital allocation requirements. Large companies in this sector have softened their near-term stance on capex. SRF Ltd has targeted ₹2,000-2,100 crore of capex in FY25 after spending about ₹3,000 crore in FY24.

Top Gainers: Gujarat Narmada Valley Fertilisers & Chemicals (up 9.86%), Gujarat State Fertilizers & Chemicals (up 9.49%), Mahindra Holidays & Resorts (up 9.15%), Polyplex Corporation (up 7.99%), and Prestige Estates Projects (up 7.95%).Top Losers: PNB Housing Finance (down 5.92%), Alok Industries (down 3.56%), Power Finance Corp (down 3.54%), Hitachi Energy India (down 3.52%), and Tube Investments Of India (down 3.45%).Top Gainers: Gujarat Narmada Valley Fertilisers & Chemicals (up 9.84%), Gujarat State Fertilizers & Chemicals (up 9.52%), TVS Supply Chain Solutions (up 7.92%), Prestige Estates Projects (up 7.84%), and Sonata Software (up 6.93%).Top Losers: PNB Housing Finance (down 5.74%), Sanofi India (down 3.74%), Alok Industries (down 3.66%), Power Finance Corp (down 3.59%), and Hitachi Energy India (down 3.54%).Source: [BSE Top Gainers](https://www.livemint.com/market/bse-top-gainers), [BSE Top Losers](https://www.livemint.com/market/bse-top-losers), [NSE Top Gainers](https://www.livemint.com/market/nse-top-gainers), [NSE Top Losers](https://www.livemint.com/market/nse-top-losers).Milestone Alert! Livemint tops charts as the fastest growing news website in the world

Stock market today: The domestic benchmark equity indices, Sensex and Nifty 50, ended Thursday's session in green after struggling through some volatility during the trade. Metal, real estate, and bank stocks led the indexes, despite a lack of strong global indications.The 30-share BSE Sensex ended higher by 141.34 points or 0.18% at 77,478.93 level while the Nifty 50 closed at 23,567.00 level, up 51.00 points or 0.22%.On the broader market front, the Nifty Midcap 100 closed 0.95% higher, while the Nifty SmallCap 100 ended up 0.61%, both outperforming the benchmark indices. The fear gauge index, the India VIX closed 2.68% lower on Thursday.