Pharmaceuticals Financial News

Lupin with a target price of Rs 1770. The current market price of Lupin Ltd. is Rs 1585.25. Lupin Ltd., incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 71997.27 Crore) operating in Pharmaceuticals sector.

pharmaceuticals has decided to expand the committee to oversee efforts to reform drug and medical device pricing by bringing in more industry participants, according to an order issued by it. As per the order seen by Mint, it has invited at least seven industry associations to the committee that has been tasked with striking a balance between pricing and availability of essential medicines, while offering incentives to the industry to foster growth and exports.

pharmaceuticals exports increased 9.67 per cent year-on-year to USD 27.9 billion in 2023-24, even as the total exports dipped by 3 per cent in the last fiscal. According to the commerce ministry data, pharma exports in March grew by 12.73 per cent to USD 2.8 billion. In 2022-23, the exports stood at USD 25.4 billion. The top five export markets, for the sector during the last fiscal, are the US, the UK, the Netherlands, the United Kingdom, South Africa and Brazil.

The committee now includes special invitees from the industry including director general of Organisation of Pharmaceutical Producers of India (OPPI), managing director, US-India Strategic Partnership Forum (USISPF), industry representatives like Medical Technology Association of India (MTal), Confederation of Indian Industry (CII), forum coordinator of Association of Indian Medical Device Industry (AiMed), Federation of Pharma Entrepreneurs (FOPE), among others. The committee will evaluate the availability of medicines and medical devices, the pricing of essential medicines while providing incentives to the industry to maintain growth and build sustainability in exports. The committee will soon start consultations with the industry experts and associations of both medicines and medical devices, people in the know told ET.

Shares of Biocon Ltd.(up 3.32 per cent), Torrent Pharmaceuticals Ltd.(up 1.76 per cent), Natco Pharma Ltd.(up 1.71 per cent), Aurobindo Pharma Ltd.(up 1.58 per cent) and Divi's Laboratories Ltd.(up 0.84 per cent) ended the day as top gainers in the pack.

Shares of Sun Pharmaceutical Industries Ltd.(up 0.43 per cent), Pfizer Ltd.(up 0.41 per cent), Natco Pharma Ltd.(up 0.34 per cent) and Abbott India Ltd.(up 0.25 per cent) ended the day as top gainers in the pack.

India along with being an economic power is also more than ready to take the next step towards becoming a science powerhouse, as it called for a rise in the country's research and development spending, especially from the private sector. The prestigious British weekly said in its editorial headlined «How India can become a science powerhouse» cited researchers to highlight that basic research has been neglected by successive governments and that a thriving research system needs much greater autonomy.

Reports from brokerage firms state that automobiles and components, banks, diversified financials, gas utilities, pharmaceuticals are the sectors likely to expect a YoY increase in the net income while metals and mining and oil, gas and consumable fuels might witness a YoY decline.

Patients suffering from pain have limited options when it comes to medication

ChrysCapital has invested about Rs 600 crore ($70 million) in Ahmedabad-based La Renon Healthcare, valuing it at $800 million. ChrysCap has acquired about 8% stake from the promoter family in a secondary transaction. Incorporated in 2007 by Pankaj Singh, La Renon is engaged in the manufacturing and marketing of branded generic formulations. ChrysCapital is close to acquiring a minority stake in La Renon Healthcare via secondary sale of shares, at a valuation of Rs 6,500 crore ($800 million), ET first reported on February 12. At present, promoter Pankaj Singh & family own about 80% stake in the formulations manufacturer while Peak XV Partners (formerly Sequoia Capital) owns 14% and domestic VC fund A91 Partners owns 6% stake in La Renon. In FY24, La Renon posted a revenue of Rs 1,400 crore and an Ebitda of Rs 300 crore, said sources. O3 Capital advised La Renon on the transaction.

Tata Consultancy Services: TCS kicked off the earnings season on a high, concluding FY24 with a March quarter that surpassed expectations. For Q4FY24, it posted a net revenue of $7.36 billion, marking a sequential increase of 1.1%, which aligns with analysts' growth predictions of up to 1.5%. The net profit for the same quarter stood at $1.5 billion, reflecting a sequential rise of 6.4%.

Mumbai: After a lull, India's pharma exports to the US have surged 15% in the first 11 months of the last financial year despite regulatory challenges and rising pricing pressures. The pace of exports has more than doubled from the 6.18% growth in the same period of FY23, according to estimates by Pharmaceutical Export Promotion Council (Pharmexcil). Exports to the US climbed to $7.83 billion during the April-February period from $6.8 billion in the same period in FY23.

Glenmark Pharmaceuticals is recalling 6,528 bottles of a medication used to treat high blood pressure in the American market due to failed dissolution specifications, the US health regulator said. The US-based arm of the Mumbai-headquartered drug firm is recalling the affected lot of Diltiazem Hydrochloride extended-release capsules, the US Food and Drug Administration said in its latest Enforcement Report. The affected lot has been produced in India and is being recalled by New Jersey-based Glenmark Pharmaceuticals Inc for «failed dissolution specifications», the USFDA said. «Out of Specification (OOS) was reported in a test of dissolution at the 12th month time point in long-term stability study,» it noted.

Dividend Stocks: Shares of companies such as Schaeffler India, Gujarat Toolroom, among others will trade ex-dividend in the coming week, starting from Monday, April 15. Along with these, some other firms will also trade ex-split, and ex-bonus, according to data on the BSE. The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout.

NEW DELHI : India and Peru concluded the seventh round of negotiations for a free trade agreement (FTA) on Thursday, aiming to deepen economic ties, a senior Indian government official said. The next round of talks is scheduled for the second week of June in Lima, with meetings likely to focus on consensus-building on trade of goods and services, the official added, requesting anonymity. The FTA is strategically important as India seeks access to Peru's lithium reserves, critical for its growing electric vehicle industry.

The NSE Nifty index traded 92.0 points down at 22661.8, while BSE Sensex was down 351.9 points at 74686.25 as of 11:05AM(IST)on April 12.

New Delhi: India and the Czech Republic are in talks to enhance defence cooperation, leveraging the shared utilization of Soviet and Russian-made defense platforms between the two nations. The discussions center on the possibility of Czech defense firms providing maintenance services, spares, and equipment to the Indian Army and Air Force, Eliska Zigova, Czech Republic’s Ambassador to India, said in an interview. “We understand that India has had a lot of cooperation in the past with the Soviet Union’s defense industry.

New Delhi: Only a handful of Indian goods such as mobile phones and drugs witnessed a rise in their annual export value during the first 11 months of FY24 in a year that saw high interest rates globally curb demand and geopolitical tensions hurt international trade. Goods that saw their exports value increase between April 2023 and February 2024 include agricultural produce, drugs and pharmaceuticals, cotton yarn and handloom products, electronic goods, iron ore, ceramic products /glassware and engineering goods, according to the latest commerce ministry data.

₹110 crore in Biodeal Pharmaceuticals Ltd, a contract development and manufacturing organization. The company in a filing disclosed that the deal is being facilitated through convertible instruments from its performing credit fund and will be directed towards improving infrastructure and capacities, upgrading technology, and nutraceuticals manufacturing facility. Emkay Global was the exclusive financial advisor to Biodeal for this deal.

Gland Pharma Ltd.(up 4.74 per cent), Glenmark Pharmaceuticals Ltd.(up 2.42 per cent), Torrent Pharmaceuticals Ltd.(up 1.57 per cent), GlaxoSmithKline Pharmaceuticals Ltd.(up 1.32 per cent) and Cipla Ltd.(up 1.08 per cent) were among the top gainers.

Shares of Ipca Laboratories Ltd.(up 3.01 per cent), Zydus Lifesciences Ltd.(up 2.37 per cent), Granules India Ltd.(up 1.79 per cent), Torrent Pharmaceuticals Ltd.(up 1.56 per cent) and Glenmark Pharmaceuticals Ltd.(up 1.14 per cent) ended the day as top gainers in the pack.