It may be Doktor Mom in Russia, or Farex in India.
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.
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.
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.
rediffGURU Mayank Kumar offers guidance about degree courses, campus, job-linked and executive programmes and studying abroad.
'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.
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 IPO boom in 2023 added four new promoters to the billionaires' list.
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.
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 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.
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.
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.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
The National Medical Commission in the Professional Conduct Regulations also bar doctors from endorsing any drug brand, medicine or equipment, or advertise them.
'There is no reason why we should break this business up.'
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.
Indian exporters are keeping their fingers crossed on account of rising Covid infections in China and other countries as it could again disrupt supply chains and affect demand for goods. Federation of Indian Export Organisations (FIEO) director general Ajay Sahai said that if the cases continue to increase in the coming days, it may have implications on imports. "We are keeping our fingers crossed," he said.
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".
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.
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 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.
Due to the massive short supply of Paxlovid, demand for Indian generic versions has gone up through Chinese e-commerce platforms.
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.
India's largest listed pharmaceutical (pharma) company - Sun Pharmaceutical Industries (Sun Pharma) - is expected to maintain its outperformance vis--vis the sector's, as its multiple bets on specialty products, improving product mix, recent acquisitions, and branded business are finding favour with brokerages. While it has gained 7 per cent over the past year, the Nifty Pharma Index is down 13.6 per cent. Its outperformance over two years has been fairly evident, with the market leader gaining 66 per cent to Nifty Pharma's minus 1.4 per cent.
Leading drug firms Aurobindo Pharma, Sun Pharma and Jubilant are recalling different products in the US market for various reasons, as per the latest enforcement report by the US Food and Drug Administration (USFDA). While Aurobindo Pharma is recalling Cyanocobalamin Injection, which is used to treat and prevent lack of vitamin B12, Mumbai-based Sun Pharma is recalling a drug used to increase the production of natural tears in eyes. Similarly, Jubilant Cadista is recalling a drug which is used to treat different inflammatory conditions.
'However, we have seen weakness in our active pharmaceutical ingredients business.'
The Central Drugs Standard Control Organisation (CDSCO) has initiated a probe in connection with the death of 18 children in Uzbekistan allegedly linked to Marion Biotech.
'Interim Budget has ignited the entrepreneurial spirit.'
The total incentive outgo under the ambitious production-linked incentive (PLI) scheme is estimated to be less than Rs. 40,000 crore by the fiscal year 2024-25 (FY25), when it completes the fourth year of implementation, according to the government's internal estimates. This means only a fourth of the allocated Rs 1.97 trillion is expected to be utilised by the end of FY24, indicating that not all the 14 PLI schemes would have taken off fully. While three of the 14 schemes - large-scale electronics manufacturing, bulk drugs, and medical devices - were introduced in 2020, the remaining were launched the following year.
The exports in 2022-2023 was $79 billion, compared to imports of $50 billion.
The net leasing of Grade-A commercial office space in India will stagnate this financial year at 32-34 million square feet, with global uncertainties brewing caution among key tenant categories, according to the latest Crisil Ratings report. Major seven cities in India - Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - had Grade-A office space with an operational stock of around 705 million square feet as of March 2023. India's commercial office space is dominated by technology companies, with information technology (IT) and IT-enabled services (ITeS) companies occupying 42-45 per cent of the operational stock.
If the war in the Israel-Gaza region escalates into a larger West Asian conflict, it could pose problems.
Fundraising via initial public offers (IPOs) dropped 52.2 per cent to $147.2 billion in the first eight months of calendar year 2023 (CY23), suggests a recent report by GlobalData, a London-based analytics and consulting company. At the country level, the report suggests, India topped the charts with 152 transactions worth $3.8 billion during this period, primarily due to a higher number of SME IPOs, followed by the US with 99 deals totaling $16 billion, while China ranked third with 88 transactions worth $32.3 billion. "An analysis of GlobalData's Deals Database reveals that there were 750 IPO listings registered with an aggregate deal value of $147.2 billion in the first eight months of 2023 on the stock exchanges worldwide.
