Highlights of the Union Budget 2024-25 presented by Finance Minister Nirmala Sitharaman in Lok Sabha on Tuesday.
'Whichever company offers better incentives, the chemist would prefer it.'
There is a need to incentivise R&D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies. Outlining the sector's wish list for the upcoming Union Budget, Organisation of Pharmaceutical Producers of India (OPPI) Director General Anil Matai urged the government to explore methods to incentivise R&D investments, such as deductions on R&D expenses, research-linked incentives for MNCs, and corporate tax concessions.
The government is considering the formation of an autonomous drug control authority, Rajya Sabha was informed on Friday.
This is because while the emergency authorisation for treating Covid was a recent move, the drug has been used since years for rheumatoid arthritis and autoimmune lupus.
The move has come days after the state government announced to form a special investigation team to probe into the death of Disha Salian, the former manager of late actor Sushant Singh Rajput.
The United States Food and Drug Administration has issued a warning letter to it for manufacturing practice violations at its Cranbury facility in New Jersey.
The regulator has given the company 15 days to take corrective measures and report back to it.
Two US Congress members have expressed doubts over the quality of inspections conducted by the US Food and Drugs Administration (FDA) on Indian drug manufacturing facilities.
Firm pleads guilty to lying to US FDA; says it had set aside the money.
The US-based drug maker Eli Lilly and Company will form strategic drug manufacturing and development alliances with major Indian pharmaceutical companies to tap the opportunities in contract research and manufacturing.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
Government on Friday assured the Rajya Sabha that essential drugs would not come under the new patent regime and companies manufacturing patented drugs would not be closed down.
Ranbaxy Laboratories on Thursday said it will co-operate fully with any regulator from anywhere in the world wanting to investigate its manufacturing practices.
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
The parties intend to produce over 300 million doses of the vaccine in India per year.
Exports of 13 APIs - including paracetamol, tinidazole, metronidazole, vitamin B1, vitamin B6, vitamin B12, acyclovir, progesterone - along with formulations made from these APIs, would be restricted.
Ranbaxy Laboratories Ltd said on Thursday that it has bagged the US Food and Drug Administration's approval for manufacturing and marketing Loratadine and Pseudoephedrine Sulfate Extended-release tablets.
India will export anti-malarial drug hydroxychloroquine, high in demand globally, only to foreign governments and not to private companies, as the product is under prohibited or banned category of exports, sources said. Although exports of this medicine is completely banned, India has decided to export this anti-malarial drug in sync with its global commitment to deal with the coronavirus pandemic.
Exports of electronics goods has risen by 24 per cent from April to November as compared with the same period in the last fiscal, the largest increase out of India's top 10 export categories. The increase has been propelled by mobile exports under the Production Linked Incentive (PLI) scheme and has pushed electronics up from sixth to fifth position in the top 10. A gap of $200 million separates electronics from occupying the fourth position, currently held by drugs and pharmaceuticals at $17.9 billion.
This will also help test the effectiveness of preventing the entry of Nipah in target cells.
India's leading drug maker Ranbaxy Laboratories is likely to announce a drug discovery research tie-up with US drug manufacturer Merck soon. Ranbaxy's ongoing research collaboration with GSK also relates to the pre-clinical trial phase of the new drug, with significant milestone payment and post-commercialisation royalty possibilities. Ranbaxy's decision to de-merge its research operations was intended at having more collaborative research programmes involving foreign firms.
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.
SMS Pharmaceuticals, a bulk drug manufacturer, is raising funds to augment capacity.
The Union Health Ministry on Wednesday told the state governments to crack down on people hoarding and black-marketing swine flu drug Oseltamivir and masks used as protection against the disease, warning that their "shortage will not be tolerated."
The Maharashtra Food and Drugs Administration has initiated action against manufacturers of medicines and instruments, newspapers, TV channels and cable operators making outrageous claims through advertisements.
Domestic drug major Cipla Ltd has signed a long-term collaboration agreement with Swiss specialty pharmaceutical major Meda, to develop and market an anti-allergic rhinitis drug for various global markets. Cipla will manufacture the drug, which will treat an ailment that causes a runny nose, and the Swiss company will market the product in Europe, Japan, Brazil, South Korea and Australia. The partners are developing the product as a nasal spray to treat allergic rhinitis.
The National Pharmaceutical Pricing Authority (NPPA) on Thursday said it has increased prices of 62 drugs, which are mainly based on indigenously manufactured insulin, giving a filip to domestic firms.
The pre-Budget memoranda of the Indian Drug Manufacturers Association and the Federation of Indian Chambers of Commerce and Industry have said more incentives are needed to spur drug research.
As of now, Gennova Biopharmaceuticals has launched a vaccine, Gemcovac-OM, which is based on the Omicron variant.
The World Health Organisation has excluded two generic antiretroviral drugs of Cipla from its list of approved HIV medicines used more often in poor countries.
According to highly placed sources in NPPA, the reduction in prices following the latest exercise will range between six and 53 per cent.
The World Health Organisation on Friday said that it is in touch with the Uzbek authorities about the reported deaths of 18 children after consuming contaminated cough syrup made by Noida-based Marion Biotech.
Sun Pharma could have to withdraw cancer drug as J&J re-enters after temporary eclipse
Union Minister for Chemicals and Fertilisers Ram Vilas Paswan said on Monday that his ministry would cut the prices of life saving and other important drugs by bringing more drugs under the 'price monitoring system' and also check the manufacture and
Sanjeev Dani, senior vice-president and regional director, Asia and CIS, Ranbaxy, said, "We are pleased to partner with Sirtex. We shall work towards creating a productive relationship."
The company's Canadian subsidiary Ranbaxy Pharmaceuticals -- Canada Inc has received final approval from TPD to manufacture and market Ran-Simvastatin tablets, the Gurgaon-headquartered pharma major said in a statement. The approval for Ran-Simvastatin tablets, which are used as a lipid metabolism regulator, is in the strength of 5, 10, 20, 40 and 80 mg.
In his press conference on Wednesday, Trump targeted drug-makers and vowed to bring back production in the US.
Cymbiotics, a US-based bio-pharmaceutical manufacturer, has entered into a joint in-licensing agreement with Elder Pharmaceuticals to manufacture and market three of its drugs for pain management, diabetes and dermatology in the Indian market.
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.
