Pharmaceuticals Financial News

CNBC-TV18. According to Shahani's LinkedIn profile, Ranjit Shahani is a mechanical engineer from the Indian Institute of Technology, Kanpur, and an MBA holder from the Jamnalal Bajaj Institute of Management Studies in Mumbai, served as the Managing Director and Vice Chairman at Novartis India Ltd. from 2001 to 2018.

India is set to tie duty reductions associated with the trade agreement with the European Free Trade Association (EFTA) to investments made by companies from member nations, including Switzerland, Norway, Iceland, and Liechtenstein, reported TOI. These nations have collectively pledged to invest $100 billion over a span of 15 years. The FTA is scheduled to be signed on Sunday following its clearance by the Union cabinet on Thursday evening. Negotiations for the agreement commenced in 2008 but were halted after the Modi government assumed office in 2014, as per a TOI report.

AstraZeneca is in the process of 15 new launches in India including novel products and new indications of existing assets in two years, said Sanjeev Panchal, managing director of AstraZeneca Pharma India. «We would be doing 15 new launches starting 2023 until 2025,» he told ET. The products would be in the therapeutic segments of oncology; cardiovascular, renal, and metabolic (CVRM) diseases; respiratory and immunology; and rare diseases. Some of the new products would be biologics or monoclonal antibodies, Panchal said. To expand access to its innovative therapies, AstraZeneca is working on strategies such as public-private partnerships (PPPs) for screening and early diagnosis, entering licensing deals with India pharmaceutical companies to enhance reach, and following a country-wise or tiered pricing approach in India linked to economic indicators, ensuring the prices of the drugs are relatively lower than advanced countries, he said.

pharmaceutical market registered nearly 9% month-on-month growth in February, with all therapy areas doing well except the respiratory segment, which saw negative growth in terms of value and units, according to market research firm Pharmatrac. Cardiology and anti-infective were the top-two therapy areas, data from Pharmatrac showed. «If I were to look at the IBM therapy performance for the month, the industry has done really very well. It has shown a close to 9% growth,» said Sheetal Sapale, VP commercial, Pharmarack. «And if you look at all the therapy areas, all of them have shown robust growth, except the respiratory segment.»

NEW DELHI : Amidst global economic uncertainties and supply chain disruptions, the government has expanded the scope of a scheme designed to make Indian exports more competitive globally by refunding various central, state and other local duties and taxes. The government has expanded the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme to support advance authorisation holders, export-oriented units, and special economic zones.

Odisha government has approved seven key projects with an investment of Rs 80,125 crore in different sectors, an official said. The projects received the state government's nod at a High-Level Clearance Authority (HLCA) meeting chaired by Chief Minister Naveen Patnaik on Thursday. These investments are expected to create job opportunities for 24,552 people in various sectors, including steel, green energy, pharmaceuticals, and chemicals, the official said. These projects are spread over Khurda, Jagatsinghpur, Jharsuguda, Ganjam, and Bhadrak districts, he said.

Investing.com — U.S. futures edged higher Thursday, as investors await the second day of testimony of Fed chief Jerome Powell’s two-day testimony before Congress.

President Joe Biden will propose increasing the minimum tax rates paid by major US and multinational corporations to 21% and eliminating breaks for companies with high-paid executives in his election-year State of the Union address on Thursday night.

Mallya emphasized the significant water requirement by tech hubs, estimating that even a tech hub with 5,000 employees would require approximately 1 lakh litres of water daily, equivalent to 10-12 tanker loads. He stressed the necessity for industries to adapt and problem-solve. While IT firms may not face immediate production cuts due to the nature of their work, Mallya noted that other industries are struggling to meet their commitments. He underscored the importance of honoring manufacturing obligations, citing examples such as original equipment manufacturers (OEMs) supplying to the automobile sector, who cannot afford to use water shortage as an excuse for delays.

Avadh Sugar & Energy Ltd.(up 0.62%) and Ponni Sugars(Erode)Ltd.(up 0.46%) stood among the top gainers.

Natco Pharma Ltd.(up 1.15 per cent), Torrent Pharmaceuticals Ltd.(up 0.59 per cent) and Alkem Laboratories Ltd.(up 0.44 per cent) were among the top gainers.

Sudeep Pharma is in talks with Avendus Capital to secure ₹800 crore in debt to buy out its joint venture partner, German manufacturer JRS Pharma, and take full ownership of the pharmaceutical company. «Sudeep Pharma is looking to buy out the share of another shareholder and for this they are looking to borrow around ₹800 crore,» said a person close to the development. «They are looking to buy out 50% of its JV partner JRS Pharma.» The Indian owner of Sudeep Pharma is Sujit Jaysukh Bhayani, its MD and CEO, and his family.

Ohio is ready to begin doling out hundreds of millions of dollars in opioid settlement money to community and government organizations

public market rally despite high stock valuations has made the promoters of Hyderabad-based Sai Life Sciences explore an initial public offering as an alternative to their original plan of roping in a private equity investor, people in the know said. A public listing would also give an exit route to existing financial investors including TPG Capital, the people said. The sole contender for the stake, Bain Capital, also has been re-evaluating its plan, especially due to the $800 million to $1 billion (₹6,500-8,300 crore) valuation that the promoters, the Kanumuri family, have been expecting for the pharmaceutical contract research, development and manufacturing organisation, they said.

Delhi High Court has barred Natco Pharma from manufacturing and selling cancer drug Olaparib either under the brand name ‘BRACANAT’ or under other brand names till further orders. “…the defendant (Natco) is in fact exploiting the suit patent by manufacturing and selling Olaparib. It is also admitted that this exploitation has take place in the 19th year of the life of the suit patent.

Biocon Biologics on Monday said it has inked a patent settlement agreement with Bayer Inc and Regeneron Pharmaceuticals Inc, paving the way for it to launch a biosimilar product in Canada. The settlement pact paves the way for the introduction of Yesafili, a proposed biosimilar to Eeylea (aflibercept) injection, in the Canadian market, Biocon Biologics said in a regulatory filing. Under the terms of the agreement, Biocon Biologics has secured a launch date for the product no later than July 1, 2025, it added.

Bank Nifty was up by 185.75(0.39%) at 04 Mar 2024 10:44:54 IST.In the BSE Sensex index NTPC, Power Grid Corporation Of India, Tech Mahindra, Bharti Airtel, Sun Pharmaceutical Industries were the top gainers while Tata Steel, Mahindra & Mahindra, Ultratech Cement, Infosys, Asian Paints were the top losers.In the Bank Nifty index Bank Of Baroda, ICICI Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank Of India were the top gainers while IDFC First Bank, Bandhan Bank, were the top losers.For the complete list of 52 week high stocks click here. Milestone Alert! Livemint tops charts as the fastest growing news website in the world

Mansukh Mandaviya on Saturday inaugurated 40 new facilities across the country to manufacture bulk drugs and medical devices to enhance self-reliance and reduce dependence on imports for such critical materials and equipment. Speaking at the inauguration ceremony here, Minister for Chemicals and Fertilisers Mansukh Mandaviya said the country has taken a big step towards self-reliance, with the commissioning of 27 new bulk drug facilities and 13 medical device manufacturing plants. The facilities, owned by various companies, were commissioned under the PLI Scheme for bulk drugs and medical devices, respectively.

Suven Pharmaceuticals on Saturday jumped another 5% to take the two-day gain to 15% on announcing a merger with Cohance Lifesciences, which will make the joint entity a leading integrated CDMO player in India and globally. After the merger becomes effective, all shareholders of Cohance will be issued shares of Suven at the ratio of 11 shares of Suven for every 295 shares of Cohance, based on the swap ratio. The new shares of Suven will be traded on the NSE and BSE.

Suven Pharmaceuticals, which announced the proposed merger of Cohance Lifesciences on Thursday, will be investing in research and development, commercial capabilities, and pursuing merger and acquisitions, as it aspires to be the «most admired» fully integrated global contract development and manufacturing organisation (CDMO) services provider, the company's top executive said. «We want to be a diversified, end-to-end capability outsourcing partner, serving customers from development to commercial scale. Doing this reliably & consistently across a wide range of chemistries, that's where the opportunity is,» said Annaswamy Vaidheesh, executive chairman of Suven in an interview to ET. «Our business is really about partnering with the customers over the long term. Our success is inextricably linked with our customer's as our business models are hard wired together,» Vaidheesh said. He added that he wants Suven to be the Lonzas of the world. Lonza-based in Basel, Switzerland is a global CDMO powerhouse.

New Delhi: Pharmaceutical companies may have to switch to transparent bottles for eye drops so that consumers can ascertain the clarity of eye drops before using them, said people aware of the matter. The Drug Controller General of India (DCGI) has called a meeting with pharma lobby groups on Monday to discuss the matter as the regulatory authority proposes to make amendments to the Drugs and Cosmetics Rules, 1945 with respect to the packaging of eye drops, they said. The Drugs Consultative Committee (DCC), a technical body of experts, had deliberated on the issue in its meeting last year after it received representation to amend the Drugs and Cosmetics Rules, 1945 with respect to concerns raised on the packing of eye drops in opaque plastic vials or bottles by pharmaceutical companies on the basis of historical testing results of eye drops sampling. The tests showed that most of the samples failed in the description due to particulate matter and contamination.