A case against Majithia under various sections of the NDPS Act was registered on the basis of a 2018 status report of probe into the drug racket in the state.
After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets, boost in domestic manufacturing due to production-linked incentive schemes and implementation of some interim trade pacts. Expectations of positive growth in the country's exports are also backed up by the outlook of the World Trade Organisation (WTO) which predicts a 4.7 per cent expansion in the global merchandise trade volume in 2022. Exporters believe that the outbound shipments would cross $400 billion mark in this fiscal going by the current momentum and may reach $475 billion in 2022-23.
US President Donald Trump thanked PM Modi for lifting curbs on the export of hydroxychloroquine.
After contracting for six straight months, India's exports rose 5.99 per cent to $27.58 billion in September on account of growth in shipments of drugs and pharmaceuticals and readymade garments, as per the government data released on Thursday. Exports stood at $26.02 billion in September 2019. The country's imports contracted 19.6 per cent to $30.31 billion in September.
The MLA pointed out that there is already a ban on the consumption of alcohol in four other states, and Goa should also join the list.
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.
Traction for its specialty portfolio, a strong showing in the domestic market, and better regulatory compliance are positives for the country's largest pharmaceutical (pharma) company, Sun Pharmaceutical Industries. Given the triggers, some brokerages have increased their earnings per share estimates and target price for 2024-25 (FY25). This should sustain the momentum for the stock, which has been one of the major pharma gainers in 2023-24 (FY24), rising 57 per cent. It is currently trading at Rs 1,547 per share.
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.
Indian drug firms get a shot in the arm in the $12 bn Australian drug market as the Therapeutic Goods Administration (TGA), Australia agrees to accelerate the drug approval process in that country for Indian players who already have an approved plant and product from one of the stringent regulatory authorities like US, EU or Canada. From current sales of $340 mn, the Indian firms can see a significant upside in sales; felt Dinesh Dua, former chairman of the Pharmaceutical Exports Promotion Council of India (Pharmexcil), and the MD of Nectar Lifesciences. He highlighted that only 12 percent of the Australian drug market is generic, as against 80-90 per cent in the US or EU. Of this $1.5 bn generic drug market in India, Indian companies have a small share.
With the government asking the companies to operate with only 50 per cent staff strength, and exports dipping to almost zero, the truck and bus drivers idling at the petrol pump say they hardly have any work now. At a petrol pump on the deserted Bavla-Changodar highway near Ahmedabad in Gujarat, several trucks and buses are neatly parked in a row.
SMS Pharmaceuticals, a bulk drug manufacturer, is raising funds to augment capacity.
'India is a pharma dada. We can manufacture enough for our people and for the world.'
With an eye on improving quality assurance in the wake of increased global scrutiny on Indian pharma products, the Centre on Tuesday said that Schedule M of the Drugs and Cosmetics Act, 1940 will be made compulsory for small and medium scale manufacturers in a phased manner. Union Health Minister Mansukh Mandaviya has asked micro-small and medium enterprises in pharma manufacturing to move towards good manufacturing practices (GMP) through self regulation. "This will help in quality assurance and also reduce compliance burden," Mandaviya.
India's exports during the first week of September jumped 13.35 per cent year-on-year to $ 6.12 billion, official data released on Thursday showed. At the same time, imports declined by 21.37 per cent to $ 6.85 billion. Consequently, the deficit during September 1 to 7 worked out to $ 730 million.
'We are also seeing the birth of new evil, the new face of drug distribution where human interface has reduced; consumers are using the Dark Web to source supplies and using cryptocurrencies as payment mode.'
Data also show that several other leading domestic pharma companies have recalled their products from the US
Though the government has been pushing for exports of high-value manufactured goods across major markets in place of raw materials and input goods, India's top exports to China remain in the raw materials category.
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.
The proposal will help India, one of the most cost-effective location for pharmaceutical production, to increase its growing generic exports multifold in a hassle-free regulatory environment.
The recent terror acts are a sign of our enemy's desperation, he said, in an apparent reference to Pakistan.
India's trade ties with Israel have only strengthened in the years after 2019. The total value of trade rose to $10.5 billion on a rolling four-quarter basis in June 2023 from $5.5 billion in the same month in 2019, shows a Business Standard analysis of data from the Centre for Monitoring Indian Economy (CMIE). A rolling four-quarter number provides a comparable figure across different time periods.
National security advisor Ajit Doval on Friday suggested that various central armed police forces of the country should have "jointness" and interoperability among themselves like the ongoing plan for the defence forces.
SAD leader Bikram Singh Majithia, facing arrest in an NDPS case, involving sale, purchase and manufacturing of drugs among other offences, was on Monday granted anticipatory bail by the Punjab and Haryana High Court.
It seems that the West is sending a signal to India that it can return to old hostilities unless India toes their line on Russia. It is no surprise that India is being compared with Putin's Russia in terms of targeting 'dissidents' as the West calls these Khalistani terrorists, asserts Colonel Anil A Athale (retd).
Pharma industry lauds idea, but suggests looser rules on ground
India currently does not have any XBB 1.5 variant-based vaccines available.
In value terms, India's exports to that country grew 37.3 per cent in 2011-12, to $34.7 billion, according to data released recently.
Pharmexcil had recently taken a 25-member delegation to Iran in order to promote pharma trade with the Western Asia nation.
In a relief toD leader Bikram Singh Majithia, the Supreme Court Monday directed the Punjab police not to arrest him till February 23 in a drugs case so he can undertake electioneering
India and Brazil raised a trade dispute against the European Union before the World Trade Organization on Tuesday over seizure of generic drugs by EU member countries on high seas.
Nutraceuticals, consisting of dietary supplements and functional foods with curative or nutritional benefits, are estimated to have a sales of $190 billion globally by 2010. India's food supplement and health food market is estimated currently at about $400 million. The country already has a clutch of established players focussing in this segment such as Avesthagen, Himalaya and Sami Labs.
'However, we have seen weakness in our active pharmaceutical ingredients business.'
Indian exporters of ayurvedic drugs are finding it extremely difficult to tap this high-growth segment
Sun Pharma could have to withdraw cancer drug as J&J re-enters after temporary eclipse
The two directors of the company named in the FIR, however, still remain at large.
Drug Controller General G N Singh said the regulator is addressing all the pending issues to liberate the pharma sector and to simplify export regulations which will be reflected in the forthcoming policy.
Joaquin "El Chapo" Guzman Loera was convicted on numerous counts including money laundering, engaging in a continuing criminal enterprise, distribution of heroin and cocaine and other drugs, and illegal arms possession.
Recently, Ranbaxy and Wockhardt too were hauled up.
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.
A three-member team each from the Central Drugs Standard Control Organisation (CDSCO) and the State Drug Controller visited the plant in Tamil Nadu's Kancheepuram, 40 km from Chennai, on Friday after the company recalled the eye drop.
