Domestic pharmaceutical major Cipla has dropped out of the race to acquire Merck's generics business citing expensive valuation as the reason.
Merck Ltd has posted a net profit of Rs 106.98 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 110.74 million in the quarter ended December 31,2001.
The emergency use of the drug will be for adult COVID-19 patients with SpO2 93 percent and who have a high risk of progression of the disease including hospitalisation or death subject to certain conditions
Hospitals to recover from sluggish Q3; diagnostics' growth rate at pre-Covid levels.
The government should take measures to promote innovation and R&D while simplifying regulations for the sector in the upcoming Union Budget, as per pharmaceutical industry bodies. Outlining the wish list for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance (IPA) secretary general Sudarshan Jain said the domestic pharma industry is currently around $50 billion in size and aspires to grow to around $130 billion by 2030 and $450 billion by 2047. "To achieve this vision, the Union Budget 2023-2024 should help fuel innovation and R&D, which will set the pace for propelling the pharmaceutical industry forward," he told PTI.
The announcement comes a day after the Subject Expert Committee (SEC) on COVID-19 of the CDSCO recommended granting emergency use authorisation (EUA) to the COVID-19 vaccines Covovax and Corbevax with certain conditions.
"Through this partnership, the reach of Sitagliptin and Sitagliptin plus Metformin will be enhanced amongst doctors and patients in India, helping them efficaciously manage the disease," Sun Pharma Chief Executive Officer Kalyanasundaram said in a joint statement issued by the two firms.
Reinvent and innovate will be the key mantra for the Indian pharma industry in the New Year as the 'pharmacy of the world' looks to move from volume to value leadership, amid emerging challenges of inflation and pricing pressures in the global markets. While R&D investment, market competitiveness, regulatory scrutiny, and domestic price regulations are expected to shape the growth of generics and injectable products, concerns such as price control and customs duties on medical equipment will continue to bother the healthcare industry in 2023. The industry believes that in view of India's G20 Presidency, digital health innovation, achieving universal health coverage, improving healthcare infrastructure and delivery will continue to be the key driving factors in 2023.
The new drugs to come under price control include commonly-used antibiotics and painkillers
When United States-based drug major Merck bought Schering-Plough early this month, it decided to go off the beaten track. Instead of having one managing director for the merged entity, it decided to retain both: Naveen A Rao will continue to head Merck's subsidiary MSD Pharmaceuticals in India and K G Ananthakrishnan will retain his position as MD of Schering-Plough's subsidiary Fulford India.
Prime Minister Narendra Modi on Tuesday met Microsoft co-founder and billionaire philanthropist Bill Gates on the sidelines of the climate summit here and discussed ways to further sustainable development, steps to mitigate climate change and vaccine research. The meeting between Modi and the American business magnate, whose foundation is focusing on fighting the COVID-19 pandemic, took place after the former launched the Initiative for the Resilient Island States (IRIS) for developing infrastructure of small island nations. Prime Minister Modi expressed appreciation for the work being done by the Bill and Melinda Gates Foundation in India, the Ministry of External Affairs (MEA) said in a statement.
Illustrious international thinkers met at the Milken Institute Global Conference 2021 and many discussions addressed the impact of the COVID-19 pandemic on the world at large.
The studies, independently initiated by international non-governmental-organization PATH and Indian Council of Medical Research for GSK and Merck vaccines respectively, were called off early this year after six deaths were reported among the girls who were administered these vaccines in Gujarat and Andhra Pradesh.
The Central Drugs Standard Control Organisation has granted restricted emergency use authorisation to two new vaccines and a drug for COVID-19, taking the number of preventives and treatments available in India to 12.
MSD Wellcome Trust Hilleman Laboratories, the joint venture to develop affordable vaccines for low-income countries, will take off by next year.
US-based Merck is confident that its cervical cancer vaccine Gardasil will help it to secure a position among the country's top five drug companies in the next five years.
Karl-Ludwig Kley, chairman of the executive board, Merck, spoke to Business Standard about the company's plans and how it is weathering the global financial crisis.
If the pandemic persists, at least a portion of the blame should go to greed and nationalism that got in the way of the world acting together, notes Prosenjit Datta.
The domestic pharmaceuticals industry has proven its mettle once again with Glenmark Pharmaceuticals announcing the receipt of euro 25 million from German drug major Merck
Hyderabad-based Dr Reddy's Laboratory said on Wednesday it has launched the generic version of Merck & Co's prostate cancer drug Proscar in the US market after the expiry of its patent.
'In the likelihood that Omicron is circulating, you have a much greater chance of getting infected now, than you did during the Age of Delta.'
In spite of all their complaints, pharma MNCs have been gaining market share in India. And this growth has come largely with generics.
A bench of justices Sanjay Kishan Kaul and Indermeet Kaur took the plea of US pharma major on record and posted it for hearing before another bench on April 12.
At least two key drugs in the gliptin category have already gone off patent and cheaper variants are crowding the market. Also, several patent expiries are round the corner for the newest category of drugs - SGLT-2 inhibitors or gliflozins.
The ministry has asked 44 pharmaceutical companies, including global drug majors such as Eli Lilly, Novartis, Pfizer, Bayer, Merck, Johnson & Johnson and Sanofi Aventis, to explain why they have not given the compensation, which is mandatory under the current drug laws.
So vaccinate employees and families, staff at home, rickshaw drivers, milkmen, service providers, shopkeepers and street vendors, says Naushad Forbes.
European regulators have estimated that consumers are paying up to 20 per cent more for medicines in some cases.
Prime Minister Narendra Modi on Monday gifted famous Indian tea to the captains of 11 large American corporations.
As of Thursday, he said total deaths in America due to COVID-19 is over 527,000. That's more deaths than in World War I, World War II, the Vietnam War, and 9/11 combined, he said.
MSD Pharmaceuticals, the wholly-owned subsidiary of US-based multinational drug company Merck, has chartered an ambitious growth plan to emerge as one of the top five pharmaceutical companies in India. The Merck subsidiary has plans to step up its research and clinical trial programmes in India, mainly in association with hospitals and universities.
The company did not respond to specific queries on the project's expansion.
It plans to make Hyderabad as its back office hub for data management in clinical research and financial service segments. Novartis is putting infrastructure to put all these people in one place and the centre is expected to turn operational next year. It will be the back office for Novartis' pharmaceutical operations and will find many PhDs and post-graduates working there, said Jurgen Brokatzky-Geiger, head (human resources), Novartis.
MSD Pharmaceuticals, the wholly owned Indian subsidiary of Merck, is awaiting approval from the Drug Controller General of India to launch a human papillomavirus vaccine to treat cervical cancer. The company has already conducted clinical trials.
World's largest asset manager Blackrock will host a global investors meet in India next year, CEO Laurence Flik conveyed to Prime Minister Narendra Modi.
Amid reports of a US Congress probe against India's largest drug maker Ranbaxy Laboratories, data show that many leading multinational companies such as Pfizer, GlaxoSmithKline, Novartis and Merck are also under the scanner of the US drug regulator, for more or less similar violations as Ranbaxy is alleged to have committed.
Communications between the USTR and the world's most powerful pharmaceutical and trade lobbying groups reveal that many raised concerns about India's push to exempt Covid vaccines from intellectual property.
A sampling of ideas from the next generation of consumers -- and entrepreneurs.
The west is faced with a daunting task on patent expiry, increasing challenges from generics, pipeline showing limited blockbusters, and in addition to that increasing pricing pressure.
The award is constituted in the memory of Prince Mahidol, the father of King Bhumibol Adulyadej of Thailand.
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