The WHO on Tuesday issued a product alert over contaminated syrup by an Indian manufacturer, warning that it is unsafe for use, especially in children, and may result in serious injury or death.
China and India's advantages such as lower costs and greater market opportunity outweigh the higher risk compared with the more established and mature regulatory regimes of Australia, Japan and Singapore.
A Pharmaceutical company was on Sunday gutted in a fire in Samba district of Jammu and Kashmir.
Encouraged by its 'record-setting' growth of 67 per cent in the domestic pharmaceutical market last year, pharmaceutical firm Mankind on Monday announced expansion plans into the South India formulations market.
India emerging as a big global destination for contract manufacturing, unlike R&D outsourcing.
While the chemicals ministry, which drafted the policy, is the administrative ministry for the pharma industry, quality regulation and marketing approvals come under the purview of the health ministry. Agriculture Minister Sharad Pawar, who heads the GoM, asked health and chemicals secretaries to sort out the issues and get back to the GoM at the earliest.
Benchmark equity indices continued their record-shattering spree on Tuesday, with the Sensex and Nifty hitting their fresh all-time high levels in early trade, amid persistent foreign fund inflows. Also, buying in Bajaj Finance, Bajaj Finserv, Tata Consultancy Services and HDFC twins added to the positive market momentum. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 381.55 points to hit its all-time peak of 65,586.60 in early trade.
India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would help mitigate risks of economic disruptions from supply chain shocks and improve crisis coordination. The agreement would help member countries like India to reduce their dependence on China and provide timely information to the IPEF member countries about potential supply disruptions. The COVID outbreak severely disrupted the global supply chain, as most countries were dependent on China for various products like pharma raw materials.
The government on Tuesday said it is considering forming a venture capital fund of Rs 2,000 crore (Rs 20 billion) to promote research and development (R&D) in the pharmaceutical sector.
South-east Asian countries are emerging as preferable destination for India's pharma companies to expand their business as they share similar patient population and disease profile and moreover, have a conducive environment for their operations like easy market approach without any regulatory uncertainty, the survey of Indian pharma firms highlighted.
RIL is grappling with other priorities -- sliding oil prices, shrinking refining margins and a battle with the Anil Ambani group over the supply of gas. The plan was to build an integrated pharma company in two to three years, on the lines of large domestic majors such as Ranbaxy's or Dr Reddy's Laboratories. Instead, the plan has been modified to being a start-up bulk drug manufacturing company that will launch six bulk drugs or active pharmaceutical ingredients by 2010.
Reduction in customs duty on certain bulk drugs used in making life saving drugs to 5% is a positive for companies having product pipeline catering to these segments.
Swedish firm Astra Pharmaceutical will buy out the remaining less than 10 per cent stake in its local arm Astrazeneca Pharma India by next year following approval from the Foreign Investment Promotion Board.
Dr Reddy's Laboratories, Jubilant Organosys, Orchid Chemicals, Aurobindo Pharma and Shasun Chemicals and Drugs are among those who have borrowed either to expand locally or to acquire companies abroad, but are now struggling to repay the dues, analysts say. Some of the companies' debt now exceeds their market capitalisation, as local and global investors sold stocks on concerns over slowdown and falling revenues. A few drug makers may be forced to sell assets to repay debt.
Dinesh Thakur is famous for exposing Ranbaxy safety problems
Tata Motors was the biggest loser in the Sensex pack, skidding 1.77 per cent, followed by SBI, Power Grid, Tata Steel, Infosys, UltraTech Cement, Titan, Larsen & Toubro, Reliance Industries and Maruti. On the other hand, IndusInd Bank, Bharti Airtel, Asian Paints, NTPC, HCL Technologies, HDFC and Sun Pharma were the gainers.
Revenues and earnings to improve for companies with low forex liabilities and no forward cover.
The Promed group manufactures and delivers branded as well as generic pharmaceutical formulations to Russia, CIS, south-east Asian countries, the UK and EU.
According to Amitabh Arora, chief representative, Think London, "The agency will help Indian companies enter business agreements with 100-odd biotech and pharma companies and about 50 contract research organisations based in London besides arranging private equity from London-based PE firms.
Indian pharmaceutical companies, which always wanted a big share in the global copycat drug market, are betting high on the oral contraceptive (OC) market in America.
Acquisition to boost its generics business in developed markets.
The joint inspections is to ensure the safety, efficacy, and quality of drugs available in the country
Post Ranbaxy episode, domestic pharma companies may face frequent inspections and deeper scrutiny.
Industry must take strong collective action to protect the reputation it enjoys in global markets, says Kiran Mazumdar Shaw.
Looking at the behavior of the Indian stock markets in the last one month, one gets a feeling that it has again proved to be the proverbial conundrum, something extremely difficult to predict in the short term.
Bajaj Finserv was the biggest gainer in the Sensex pack, rising 2.21 per cent, followed by Titan, ITC, Kotak Mahindra Bank, HDFC Bank, HDFC, Bajaj Finance, IndusInd Bank, ICICI Bank, HUL, Reliance Industries and Mahindra & Mahindra. Wipro, Tata Consultancy Services, Power Grid and Tech Mahindra were the laggards.
Multinational drug manufacturers such as Pfizer and DSM are increasingly getting into contract manufacturing alliances with emerging bulk drug makers in the country, bypassing established players such as Ranbaxy and Dr Reddy's.
Supreme Court will give its verdict on April 1 on whether Swiss giant Novartis AG's cancer treatment drug Glivec deserves a patent in the country not it doesn't.
The commerce ministry has sought a review of foreign direct investment policy in the pharmaceutical sector, in the light of recent takeovers of domestic companies by multinationals.
According to industry estimates, the sector's revenue would increase eight-10 per cent in 2013-14, against 12 per cent in 2012-13.
Indian IT service providers are increasing their exposure in the healthcare and pharma segments. Multi-million dollar deals in this space by IT firms over the past three-four months only buttress this trend. Healthcare outsourcing has moved away from just undertaking medical transcription and business process outsourcing (BPO) work to core functions such as drug discovery, testing, research and development.
In 2012, employers looked most for professionals in IT or software services, FMCG industries and BPO or ITES, followed by real estate and pharmaceuticals or life sciences to fill mid or senior positions.
Drugmaker Aurobindo Pharma on Monday said it has entered into licensing and supply agreements with London-based pharmaceutical giant AstraZeneca to supply several solid dosage and sterile products for emerging markets.
BSE Healthcare index slumped by nearly 2% followed by counters like Consumer Durable, Banks, Oil & Gas and PSU shares, all falling down by 1% each.
Regulator likely to probe possible violation of insider-trading norms.
'Gift-giving' - from free dinners and drug samples to promotional merchandise - seems to be driving drugmakers' marketing - a marketing prescription deeply entrenched in the industry. This is a well-oiled racket that sees pharmaceutical (pharma) companies 'gifting' doctors to push their respective drugs under the guise of marketing. But is there a cure in sight to end this unhealthy alliance? The recent controversy following the income-tax raids on Bengaluru-based drugmaker Micro Labs, makers of popular paracetamol brand Dolo-650, has brought this to the fore, again.
Companies that are developing biosimilars (for regulated markets) or have portfolio of new chemical entities (NCEs) under development.
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