The Enforcement Directorate, probing the case, has claimed Yusuf had assisted Mirchi in buying properties in India using money earned through illegal activities.
Rise in input costs, inventory write-off, and pricing pressures led to a drop in gross margins. Higher competitive pressures led to cuts in operating profit margins and earnings estimates for FY24 and FY25. Most brokerages have a 'neutral' or a 'reduce' rating on the stock on account of valuations.
According to highly placed sources in NPPA, the reduction in prices following the latest exercise will range between six and 53 per cent.
A recent report has suggested that future patent expires in the cardiac and anti-diabetes space would form a good opportunity for smaller firms, given their franchise in these segments.
Pulse oximeters, hand sanitisers, temperature check equipment and ambulances too will attract lower 5 per cent tax.
The Delhi high court had earlier allowed Indian pharma major Wockhardt to sell its Ace Proxyvon tablets, which is a mixture of three salts -- aceclofenac, paracetamol and rabeprazol -- a combination that is banned.
Many say trend could lead to concerns on manufacturing quality in Indian facilities.
Notwithstanding the fact that the country's pharmaceutical (pharma) pricing regulator has allowed a 12 per cent price increase for medicines listed under the National List of Essential Medicines (NLEM) in 2023, analysts and industry insiders predict that the overall domestic pharma industry will only witness a price hike of 5-6 per cent. This is attributed to higher competitive intensity in the market. Krishnakumar V, executive director and chief operating officer (CEO) of Eris Lifesciences, a domestic-focused pharma company, noted that the NLEM segment experienced growth suppression of around 150 basis points due to price reductions during the January to July period this year.
The seizure, as per officials, is estimated to be worth over Rs 10 crore in the international market (about Rs 5K-7K per blot) and all the six who have been taken into custody, beginning late last month, are students and youngsters who wanted to make 'easy money' by remaining anonymous within the deep layers of secret internet-based apps and messenger service like WICKR.
To keep price control to a minimum, the government can act in two areas where it has not done so far.
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.
Dinesh Thakur is famous for exposing Ranbaxy safety problems
Companies asked to give data for three batches instead of one; move may lead to significant rise in development cost of generics
During a review, the EC found that the performance of some officers was "unsatisfactory" and they were found "complacent, if not complicit" in various matters, including the illegal supply of liquor as a possible poll inducement, sources said.
After reports of contamination in cough syrups sent from the country, India is considering a system to test them before exporting. It is learnt that the Central Drugs Standard Control Organisation (CDSCO) has sent a proposal to the Union health ministry on this. The idea is to test the medicines at government labs before exporting.
Wockhardt said, the drug regulator suspended the manufacture, sale or distribution of fixed dose combination of Dicyclomine Hydrochloride IP 10mg
Firms could lose licence if products not launched within 6 months of approval.
Rediff Labs investigates the issue of child drug abuse in India in an attempt to quantify the seriousness of the issue.
The Delhi high court on Wednesday asked the Centre and the Delhi government to present their stand on a plea seeking recall of all currency notes above Rs 100, restricting cash transactions above Rs 10,000 and linking assets worth more than Rs 50,000 with Aadhaar to check corruption.
The case dates back to January, 2007 when the man was arrested with an AK series assault rifle, 200 bullets, five hand grenades and a satellite phone by the Karnataka Police.
Cipla is recalling the drug for failed impurities and degradation specifications.
The 344 banned drugs include the fixed dose combination of Chlopheniramine Maleate and Codeine syrup sold under the popular cough syrup brand Corex.
Shoaib Akhtar proposed a closed-door series to jointly raise funds to fight the deadly virus both in India and Pakistan. Kapil Dev said the proposal is not feasible. He also said cricket should not even matter for at least the next six months.
Roadblocks ahead as these medicines could face new clinical tests, more scrutiny
This move is expected to benefit 22 lakh cancer patients in the country.
Flipkart, Amazon, too, under radar
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.
'Even with the restrictions of depositing more than Rs 2.5 lakh in a bank, people will find new methods to convert this cash hoard into legal tender.'
Glenmark Pharmaceuticals on Thursday said it will sell a 75 per cent stake in its subsidiary Glenmark Life Sciences to Nirma Ltd for Rs 5,651.5 crore.
Indian pharmaceutical companies are heavily dependent on China to source fermentation-based active pharmaceutical ingredients and intermediates to manufacture these medicines, but the coronavirus outbreak there has disrupted the supply.
He said law enforcement agencies are cracking down on those involved in recruitment for terrorist groups as well as narcotic dealers and smugglers.
The new drugs to come under price control include commonly-used antibiotics and painkillers
Pilots might soon be asked not to use perfume, mouthwash and tooth gel as that may result in positive breath analyser test. The Directorate General of Civil Aviation (DGCA) has sought comments on a draft Civil Aviation Requirements (CAR) wherein it has also proposed barring crew from using any "drug/formulation or use any substance such as mouthwash/tooth gel/perfume or any such product which has alcoholic content". Comments have been sought on the CAR, which pertains to procedure for medical examination of aircraft personnel for alcohol consumption, till October 5.
Novartis said it is partnered with generic drugmaker Lupin Ltd to sell the drug in India
Government plans to move from controlling bulk drugs to formulations.
The Aam Aadmi Party on Sunday said Tihar authorities were 'lying' about specialist doctors examining Delhi Chief Minister Arvind Kejriwal, while his wife Sunita Kejriwal alleged that he was being denied insulin for diabetes as 'they want to kill' him.
Victor Conte, the man at the centre of what was the United States's biggest doping scandal, believes the latest drug scandal to rock the sports world is all part of a cover up to protect the bottom line.
Voicing concern over the "devastating" drug addiction menace, Prime Minister Narendra Modi on Sunday said society as well as the government will have to work together to fight this problem and that a helpline would be set up soon to assist those seeking solutions.
The harum-scarum-ness of Kaala is astounding, exclaims Deepa Gahlot.
