The government's decision to impose excise duty on the maximum retail price of all drugs -- which took effect from January 8 -- may have an adverse impact on the domestic operations of drug makers, said analysts.
The department of pharmaceuticals turned down a review petition by drugmaker Cipla against a price fixation order by the National Pharmaceutical Pricing Authority, slashing the price of Dytor Plus, a medicine for kidney and heart ailments.
In a reversal of its two-year-old decision to avoid from the purview of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, the finance ministry, which administers the Act, has once again proposed compulsory registration of all medicine manufacturers and dealers that handle drugs that contain narcotic and psychotropic substances before the Central Bureau of Narcotics (CBN). CBN comes under the revenue department of the ministry.
Last week, the Department of Pharmaceuticals had notified the Drugs (Prices Control) Order 2013 under which prices of 348 medicines in the National List of Essential Medicines (NLEM) have been brought.
The Centre has asked traders and resellers of medical devices to register in an attempt to expand the ambit of regulating the medical devices industry in the country. The move can have far-reaching consequences for both consumers and traders alike as products like face masks or prophylactics - now sold through grocers and other channels - may face issues of availability. In a notification dated September 30, the union ministry of health and family welfare said anyone wanting to sell, stock, exhibit or offer for sale or distribute a medical device, including in-vitro diagnostic medical device, will need a certificate of registration.
This increase is despite the decreased growth of drug sales in the US - the world's largest market - which has seen a tightening of regulations and aggressive competition.
The company is demerging its new chemical entity research unit into a separate company to meet the demands of increased spend on research and development, and to insulate investors from the risks involved. According to the deal signed with Merck, NPIL will discover and develop new drugs for two selected targets provided by Merck in the area of cancer.
The company's US-based subsidiary Lupin Pharmaceuticals Inc has launched its generic Rabeprazole Sodium delayed-release tablets, 20 mg in the American market after having received approval to market it from the US Food and Drug Administration, according to a statement by Lupin.
Nirma's tryst with the pharmaceutical space started in 2006 when it acquired the ailing Core Healthcare in a deal reported to be worth Rs 300 crore. The Ahmedabad-based manufacturer of intravenous fluids was subsequently renamed Nirlife. Pharma industry insiders say Nirma, which broke open the detergent market in the 1990s with low prices and massive advertising, tried an encore of the low-price strategy in pharma, but with mixed results.
Indian drug maker Alembic Ltd plans to expand its bulk drugs business in the United States by joining hands with US formulations makers, the Bombay Stock Exchange said on Thursday.
Sharad Pawar says final draft will go to Cabinet before Tuesday.
Ranbaxy said on Thursday that it has signed an exclusive licensing agreement with US-based Atrix Laboratories to develop and market prostrate cancer drug Eligard in India.
The idea is to ensure drug companies do not gold-plate drugs to exorbitantly raise prices while introducing those in the market.
The National Pharmaceutical Pricing Authority will soon notify prices of as many as 150 packs of essential medicines in line with the new pharma pricing policy, according to official sources.
Deepa Gahlot lists 10 gangster thrillers on OTT for those who have the stomach for gaalis and gore.
Ranbaxy Laboratories on Monday said it has received tentative approval from the United States Food and Drug Administration to manufacture and market anti-hypertension drug Quinapril Hydrochloride in the US.
The stock of Divis Laboratories is up 10 per cent over the last couple of trading sessions on expectations that the worst is behind and the company could see a sequential growth in the March quarter of the 2022-23 financial year (Q4FY23). The stock witnessed the highest downgrades among Nifty50 index stocks with earnings cuts over a third after the Q3FY23 results. The company had posted a 32 per cent drop in revenues over the year ago quarter in Q3FY23 and 8 per cent sequentially, which was sharply lower than Street expectations.
Pharmaceutical companies in Himachal Pradesh are queuing up to register new products at the drugs controller's office before the seven-year tax holiday window for hill states ends on March 31
NPPA will begin analysing pricing trends of 74 bulk drugs that come under the government-notified price-controlled list every quarter.
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