Employees allege forcible layoffs; firm says ensuring it "best maximises performance and optimises resources"
Pfizer had approached the court accusing Mumbai-based Ultratech India Ltd of adopting the name 'Fiagra', which was deceptively similar to its drug 'Vigara', to pass of its drug as that of the American company.\n\n\n\n
rediffGURU Sushil Sukhwani offers expert advice about pursuing higher education abroad.
This is the largest-ever purchase and donation of vaccines by a single country and a commitment by the American people to help protect people around the world from COVID-19, the White House said ahead of the announcement by Biden at the G-7 Summit in the UK.
Global pharmaceutical giant Pfizer on Wednesday said it planned to launch two to three products in India and a possible patented drug by 2007 in keeping with its target of a double digit growth in the country.
The patent office said Pfizer's claimed patent for Sutent, a cancer drug, did not involve any inventive step.
Parke Davis India Ltd said it fixed March 14 record date to determine entitlement of allotment of equity shares of Pfizer Ltd to the shareholders of Parke Davis India Ltd pursuant to an amalgamation.
Nestle's acquisition of Pfizer's infant nutrition business has an India angle to it. While Pfizer does not have its infant nutrition brands such as SMA Gold, Promil Gold, Progress Gold and Promise Gold in India yet, the threat that it could launch these products in the country was always there, thanks to its strong presence in neighbouring countries such as China, Indonesia and the Philippines.
Pharmaceutical major Pfizer and World Vision India on Thursday announced a grant of Rs 1 crore (Rs 10 million) under an economic rehabilitation programme for Tsunami affected communities, which WVI will extend as micro-finance development loans.
The merger of Pfizer and Wyeth is expected to create the second-biggest drug maker among multinational companies in India. The world's largest drug maker Pfizer yesterday announced a $68-billion acquisition of US-based Wyeth.
Interestingly, the European Patent Office is yet to grant a patent for Maraviroc, citing insufficient data, sources said. These were the main reasons cited by the Indian Patent Office for rejecting the patent for the cancer drug Gleevec, which snowballed into a global patent battle between the Swiss drug major Novartis and the Indian government.
'It is admitted that the AZ vaccine can, in very rare cases, cause TTS.'
The pharmaceuticals sector is expected to post a revenue growth of around 13.5 per cent and a net profit growth of 30.3 per cent for the third quarter of 2023-24 (FY24), riding on the approval for niche drugs in the US market, fall in raw material prices and correction in shipping rates. In the healthcare segment, hospitals are expected to post revenue growth of 13 per cent during the coverage, while net profit growth would be around 37 per cent, ICICI Securities said in a note. However, the performance may not be comparable on a sequential basis due to the offset of the festive season in Q3FY24, the analysts noted.
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.
Nicholas Piramal India Ltd said on Thursday its UK subsidiary has entered into an agreement to acquire the manufacturing facility of global pharma company Pfizer Inc at Morpeth, UK, on an asset purchase basis.
SII is the first indigenous company that has sought emergency approval for the vaccine developed along with global pharma giant AstraZeneca and Oxford University.
The Indian pharmaceutical market (IPM) grew 6.8 per cent to touch a turnover of ~1.93 trillion in calendar year 2023, despite volumes going down marginally by 0.9 per cent. This indicates the price increase has been the major growth driver. Growth in the moving annual turnover (the previous 12 months' turnover) in December was 5.1 per cent and that in new product introduction 2.6 per cent, while volumes dipped 0.9 per cent, leading to an overall growth rate of 6.8 per cent, according to the data from market research firm Pharmatrac.
Aurobindo Pharma, Cadila Healthcare and Serum Institute are readying their vaccine candidates.
The rally in the equity markets in the second half of 2023 has led to a sharp surge in the cutoff for stocks to qualify as largecaps and midcaps. On the latest list put out by the Association of Mutual Funds in India (Amfi), the smallest largecap stock now has a market capitalisation (m-cap) of Rs 67,000 crore, 35 per cent higher than in July 2023. In the case of midcaps, the cutoff has surged 26 per cent to Rs 22,000 crore.
Dr Malhotra, who has demanded a full safety review into the use of AstraZeneca's Covid vaccine, told PTI Covishield "should never have been rolled out in the country in the first place".
A number of Indian medical experts on Monday supported calls from an eminent British Indian cardiologist for a full safety review into the use of Oxford/AstraZeneca's Covid-19 vaccine, administered in India as Covishield, over feared serious side effects such as heart attack and stroke.
The Quad partnership is on track to produce at least a billion vaccine doses in India by 2022, US President Joe Biden said on Wednesday, asserting that nothing is more urgent than working together to defeat COVID-19 so the world is much better prepared for future pandemics.
Once the UK drug regulator gives its approval to the Oxford vaccine, the expert committee on COVID-19 at the Central Drugs Standard Control Organisation (CDSCO) will hold its meeting and thoroughly review the safety and immunogenicity data from the clinical evaluations conducted abroad and in India before granting any emergency authorisation for the vaccine here, official sources said.
Voveran, Novartis India's flagship pain killer medicine, has become the largest selling domestic drug with sales of more than Rs 11 crore (Rs 110 million) in March 2008, displacing Pfizer India's cough and cold syrup Corex, which had sales of Rs 10 crore (Rs 100 million). Cipla, on the other hand, maintained its leadership position as the largest domestic pharmaceutical company edging out Ranbaxy Laboratories with a market share of 5.24 per cent.
'Rolling out the vaccine is not a major challenge in India.'
The vaccination drive was only one important part of India's globally recognised pandemic management and response strategy, observes Dr Vinod K Paul.
Bharat Biotech recruited 13,000 participants for the Phase-3 clinical trial of Covaxin. This is one of the largest efficacy trials held in the country.
The top 300 pharmaceutical brands in the country will now bear a quick response (QR) code on their packaging to rein in spurious drugs and ensure better traceability.
'Viral infections rise in winter and better care needs to be taken in the next few months.'
India is not keen to 'bow down' to demands related to indemnity against legal liabilities in case any vaccine recipient develops severe adverse reactions post inoculation.
The Drugs Control General of India has permitted emergency use of Covid vaccine Sputnik V with certain conditions, clearing the way for a third vaccine in addition to Covishield and Covaxin. Besides, the government on Tuesday also fast-tracked emergency approval for other jabs. Here is what the vaccines are all about:
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
While Bharat Biotech's Covaxin is in trials among children already, Serum Institute of India will begin Novavax vaccine trials on children from July, whereas the Pfizer vaccine has been approved for adolescents in the United States; and Cadila Healthcare's ZyCoV-D has done trials on 12 year-olds and above already, reports Sohini Das.
Pfizer Inc and BioNTech SE have said that their vaccine candidate has been found to be more than 90 per cent effective in preventing COVID-19.
"Provide enough infrastructure and money to carry out surveillance and set up a robust routine surveillance machinery for the country to monitor any and every infectious disease'
He also said that it was wrong to suggest that India stopped foreign made vaccines like that made by Moderna and Pfizer from coming to India.
India rejects patent on Pfizer's arthritis drug
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