FDA allows Teva to launch Nexium generic; Cipla, which supplies formulation, to gain
Currently, the country is using two 'made-in India' jabs -- Covishield and Covaxin -- to inoculate its billion-plus population and has administered 20 crore doses since launching the world's largest vaccination drive in mid-January. A third vaccine, Russian-made Sputnik V, has been approved by the government and is being used on a smaller scale at present.
Gains in banking ICICI Bank, Tata Motors and Wipro was offest by losses in ITC, HDFC and Sun Pharma.
Ranbaxy is understood to have emerged as the sole Indian pharma entity to have moved into the next round of bidding for the generic business of Merck, even as compatriot Cipla claimed to be "very much in the race."
With all major US export-oriented drug manufacturing plants in the country up for inspection in 2022, some estimates peg that at least 20-30 per cent of the new product launches lined up for the US will be subject to on-site inspection by the US Food and Drug Administration (USFDA). The last two years saw limited physical inspections due to travel restrictions during the pandemic. "Pre-Covid, the frequency and number of inspections of manufacturing plants in India by USFDA had increased significantly," analysts from ICICI Securities Research noted. "With growing ANDA filings, especially for complex products. "We expect this trend to return with the environment normalising," analysts from ICICI Securities Research noted.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The combined sales of the branded versions of the products in the US is about $3.5 billion.
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
Two pharma majors Novartis and Wockhardt have adopted 'wait and watch' policy with regard to opposition over the yet to be granted patent to their respective drugs.
The broader Nifty closed higher by 7.30 points
Sun Pharma emerged as the star performer and closed 4.03 per cent up at Rs 675.45, while Cipla rallied 1.58 per cent to Rs 592.60.
The API of Paracetamol, a fever and pain medication, has grown 25 per cent from Rs 450-480 per kg in December 2020 to Rs 580-600 per kg in April. When compared to the pre-Covid prices of December 2019, the surge is much steeper -- around 140 per cent, reports Sohini Das.
While sales in the domestic market declined 4.2 per cent during the April-July period, exports grew steadily at 9.5 per cent during the same period.
Reliance Industries rose by 1.16 per cent while ITC and ICICI Bank zoomed up to 2 per cent, lifting the indices to all time high levels.
Leading IT companies i-flex Software and Satyam Computers have made their way to Forbes Global's list of 100 'best under a billion' companies in Asia Pacific.
Of the 30-share Sensex, 13 ended higher, while 17 led by Power Grid, Tata Steel, Bajaj Auto, Hero MotoCorp, NTPC, Tata Motors, Dr Reddy's, M&M, GAIL, Infosys and L&T finished lower, fell by up to 2.40 per cent
This move could cost $299 million a year for Indian pharma players.
The markets opened in green tracking its Asian peers
Revival in domestic business should also help overall revenue growth.
Indian auto and pharma industries import several critical components and raw materials from China.
The markets displayed volatility with the Sensex clocking a high of 6,587 and a low of 6,509.
ICICI Bank was the top loser after the private lender reported sharp drop in Q4 net.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Metal stocks also had a good session, with JSW Steel zooming by 7%, and Tata Steel and Nalco gaining about 3% each.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A probe finds several pharma majors in breach of the law; and in turn they blame the government.
Dilip Shanghvi founded Sun Pharma in 1983.
The drugs manufacturing industry is on a state of alert following two landmark developments over a cancer treatment medicine.
Asian Paints, Cipla, Bharat Forge, Dabur India, Nicholas Piramal and Satyam Computer Services are among the 20 Indian corporate entities that have found place in Forbes' list of 'Best Small Asian Companies'.
Pharma was the top losing index amid worries about their earnings outlook with Lupin down over 4%
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
India has capped the prices of 36 drugs, including those used to treat infections and diabetes, in its latest move to make essential medicines more affordable, a senior official of the country's drug pricing authority told Reuters on Friday.
The markets opened in the positive terrain but slipped and are trading flat as selling was seen in banking and pharma stocks
The Sensex slipped into negative territory, after opening 14 points up at 7,765.
'Enterprises have become more demanding in terms of their productivity expectation from their employees.'
