The pharmaceutical and the consumer durables sectors, which depend on China for imports, have not been impacted yet due to unrest in China with people protesting against lockdowns. But the lockdown could have an impact on the supply of components used in consumer durables if it continues for the next fortnight. In the pharmaceutical industry, Indian players import 66-70 per cent of their bulk drug requirements from China.
Drug sale volumes are almost stuck at pre-pandemic levels but price growth has improved value, data from market research agency Pharmarack AWACS showed. The Indian pharmaceutical market's (IPM) volumes in April 2023 grew by 0.21 per cent when compared to April 2019. Key therapy areas like cardiac, anti-diabetic and vitamins recorded negative volume or consumption growth, while respiratory, anti-infectives, and pain and analgesics had positive growth from April 2019 to April this year.
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
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 mutual fund (MF) industry had an action-packed 2023 as it tackled the scrapping of tax benefits for debt fund investors and surging flows into equity funds.
After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.
After the first quarter was washed out, exporters are now keeping their fingers crossed over a turnaround in outbound shipments to at least North America from September onwards. This comes even as other key destinations such as Europe may take longer to revive in FY24. Slowdown in key economies, as well as geopolitical tensions resulted in sluggish demand for Indian goods.
The government has decided to hold off introducing the production-linked incentive (PLI) scheme for additional sectors until it verifies the efficacy of existing initiatives. Top government officials have received mixed feedback on the scheme, including insights from the Economic Advisory Council to the Prime Minister, people aware of the matter said. "There are no new PLI schemes in the offing.
Hospitals to recover from sluggish Q3; diagnostics' growth rate at pre-Covid levels.
In an exclusive interview with PTI video, the minister also said an extensive risk-based analysis is done continuously to ensure the production of quality medicines in the country, and the government and regulators are always alert to ensure that no one dies due to spurious medicines.
The US health regulator has pulled up drug major Sun Pharma for manufacturing lapses, including failure to follow appropriate written procedures designed to prevent microbiological contamination of drug products, at its Gujarat-based plant. In a warning letter, the US Food and Drug Administration (USFDA) pointed out various lapses at the Halol plant which produces finished pharmaceutical products. "This warning letter summarises significant violations of Current Good Manufacturing Practice (CGMP) regulations for finished pharmaceuticals... Because your methods, facilities, or controls for manufacturing, processing, packing, or holding do not conform to CGMP, your drug products are adulterated," the USFDA stated.
In the letter, Somani said the samples of four made-in-India cough syrups linked to the deaths of 66 children in Gambia which were tested in government laboratory here were found to be complying with specifications and not to have been contaminated with DEG or EG according to the test reports.
Mycoplasma pneumoniae has been linked to the recent surge in respiratory ailments among children in China.
The process of discovering and developing a new drug can take decades and costs hundreds of millions or even billions of dollars. However, technological advances like artificial intelligence can help speed up and transform the time-consuming and labor-intensive exercise. In India, Peptris Technologies, a Bangalore-based AI drug discovery company, has announced $1 million in pre-seed round investment led by Speciale Invest.
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It may be Doktor Mom in Russia, or Farex in India.
US-based retail giant Walmart is looking to source toys, shoes and bicycles from Indian suppliers as the company is targeting to increase its exports from India to USD 10 billion annually by 2027. The company also wants to develop new suppliers in categories such as food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles, a company spokesperson told PTI. Officials from the Bentonville-headquartered firm recently held a virtual meeting with several domestic toy manufacturers in India.
'Whichever company offers better incentives, the chemist would prefer it.'
India's third-largest pharmaceutical company by revenue, Cipla, is up for grabs in a three-way fight between Torrent Pharmaceuticals, Dr Reddy's Laboratories (DRL) and private equity (PE) giant Blackstone. Analysts say it is more likely for a strategic investor like Torrent or DRL to acquire Cipla than a PE firm, which may not derive healthy returns at Cipla's current market price (CMP) after the recent gains.
The IPO boom in 2023 added four new promoters to the billionaires' list.
The scaling up of the India-US strategic partnership to the level of non-NATO ally with defence deals, sharing and transfer of defence technology, interoperability, joint collaboration and joint production of defence equipment has exacerbated Moscow's anxiety, notes Rup Narayan Das.
A strong performance in the July-September quarter of 2023-24 (Q2FY24), an upward revision in the margin guidance and sustained momentum in US sales has helped the stock of pharmaceutical major Cipla gain about 2 per cent over the last two trading sessions. The brokerages have upgraded the earnings estimates for this financial year (FY24) by 6-9 per cent to factor in the improved margin guidance and sales in the US market. Led by the US market, which rose by 31 per cent, the company posted a 16 per cent growth in revenues.
Glenmark Pharmaceuticals Ltd on Tuesday said it has acquired the approved generic versions of certain over-the-counter drugs from Wockhardt Ltd in the US. The acquisition by the company's fully-owned subsidiary Glenmark Pharmaceuticals Inc, USA includes the approved abbreviated new drug applications (ANDAs) for famotidine tablets, 10 mg and 20 mg used to treat and prevent ulcers in the stomach and intestine, the company said in a statement. The company, however, did not disclose the financial details.
The report also said that in past DEG outbreaks, manufacturers have been suspected of substituting DEG in the place of more expensive, pharmaceutical-grade solvents.
The Centre has appointed senior IAS officers Vumlunmang Vualnam and Neeraj Mittal as new secretaries in the ministry of civil aviation and the department of telecommunications respectively in a major secretary-level bureaucratic reshuffle, a government order stated.
As the market buzzes with news of Cipla promoters exiting the business through a stake sale and Ahmedabad-based Mehta family-led Torrent Pharmaceuticals racing to acquire its rival, Cipla, an analysis reveals that if the deal were to go through, both companies might need to divest as many as 15 brands to comply with Competition Commission of India (CCI) norms. A recent analysis by Bernstein shows that Cipla and Torrent share a presence in 332 products (based on product and molecule data from market research firm IQVIA). Bernstein analysts Nithya Balasubramanian and Parth Shah noted that, while this may appear as a high number, a significant portion of these products lack significance.
'There is no reason why we should break this business up.'
The World Health Organisation has issued an alert for four 'contaminated' medicines manufactured by an Indian pharmaceutical company that have been 'potentially linked' with acute kidney injuries and 66 deaths among children in The Gambia.
A team of central agencies and the Uttar Pradesh drug department had carried out an inspection at the firm's office in Noida on December 29 and taken six more samples for testing.
The way video is being watched and monetised is changing. This is the first thing that stands out as the penetration of smart TVs continues to rise.
The National Medical Commission in the Professional Conduct Regulations also bar doctors from endorsing any drug brand, medicine or equipment, or advertise them.
Rising penetration of trade generic medicines is eating into the value growth of the domestic pharmaceutical market, showed a recent analysis. According to a Kotak Institutional Equities analysis, 70-110 basis points (bps) annual dent is expected from trade generics and Jan Aushadhi on Indian Pharma Market (IPM) growth at least until FY27-28 (see chart). Trade generic medicines are those that are not pushed into the market through doctor promotions.
AstraZeneca has stressed that patient safety is its "highest priority" and pointed out that regulators around the world "consistently state that the benefits of vaccination outweigh the risks of extremely rare potential side effects".
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
The same day the tax sleuths had raided the house of DMK MP S Jagathrakshakan and some of those linked to him. The MP from Arakkonam has interests in a variety of business sectors.
The Income Tax department Wednesday conducted searches at the premises of Bengaluru-based pharmaceutical company Micro Labs Ltd, the manufacturers of Dolo-650 tablet that was widely used by COVID-19 patients during the last over two years, on charges of alleged tax evasion. Officials said the department is looking at financial documents, balance sheets and business distributor networks of the company as part of the searches. The PTI has sent queries on the action to the company and a response is awaited.
'However, we have seen weakness in our active pharmaceutical ingredients business.'
Samples of the cough syrup have been taken from the manufacturing premises in Noida and sent to the Regional Drugs Testing Laboratory (RDTL) in Chandigarh for testing, Mandaviya said.
Since the start of this financial year (FY24), the stock of Aurobindo Pharma has been one of the top pharma gainers, enhancing investor wealth by over 68 per cent, with a third of those gains coming in the last three months. The stock is riding on multiple triggers given its investments in the production-linked incentive or PLI scheme, biosimilars, injectables and vaccines, which should drive revenues and profits over the medium term. Better than expected performance after the June quarter results led to a revision of earnings estimates for FY24 and FY25.
