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US President Donald Trump's plan to sign an executive order to cut prescription drug prices by 30-80 per cent could lead to a global price adjustment with pharma firms pushing lower-cost countries like India to raise prices, according to the economic think tank GTRI. The US move could push prices in lower-cost countries like India as manufacturers would seek to recover losses and R&D costs from these nations.
Putin said that the Indian leader had "aptly" noted that it is "not an anti-western one but a non-western one".
Putin expressed concern over the situation in Gaza, and said Palestinian President Mahmoud Abbas has been invited to BRICS events.
In recent months, several pharma multinational corporations (MNCs) are increasingly turning to Indian companies to expand market reach in the country's pharmaceuticals sector. Sanofi's partnerships with Dr Reddy's, Cipla, and Emcure, AstraZeneca and Mankind Pharma - teaming up for asthma medication distribution - are a few instances of this trend. This strategy allows MNCs to leverage established Indian networks and reach a wider audience. Indian companies also benefit from global brands and expertise, say analysts.
In the letter, Somani said the samples of four made-in-India cough syrups linked to the deaths of 66 children in Gambia which were tested in government laboratory here were found to be complying with specifications and not to have been contaminated with DEG or EG according to the test reports.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
Prime Minister Narendra Modi said on Wednesday that international travel should be made easier through mutual recognition of vaccine certificates, amid several countries adopting different sets of rules to allow foreigners to enter their territory in the wake of the COVID-19 pandemic.
India has received over USD 20 billion in FDI amid the coronavirus pandemic, Foreign Secretary Harsh Vardhan Shringla said on Tuesday, showcasing the country as one of the most attractive destinations for investment globally.
In his pre-recorded video statement to the landmark General Debate of the 75th session of the United Nations General Assembly, Modi said the stability in the United Nations and empowerment of the world body are essential for the welfare of the world.
Indian auto and pharma industries import several critical components and raw materials from China.
There were apprehensions in the SII about rival Bharat Biotech's 'indigenous' tag, opening up shortcuts for it. One senior person, who was very familiar with the sector, told me, 'The message has gone out from the very top. Somani (V G Somani -- drug controller general of India) has told me "Bharat ka karna hai".' A fascinating excerpt from Abantika Ghosh's Billions Under Lockdown: The Inside Story Of India's Fight Against COVID-19.
Take the rediff business quiz and see how much you know about India's pharmaceutical industry.
In a landmark judgment that has the potential to change the direction of India's pharmaceutical business, the Supreme Court said on Monday that the drug failed to qualify for a patent according to Indian law.
Experts believe that the industry has the potential to grow at an accelerated 15-20 per cent CAGR for the next 10 years to reach between $49 billion to $74 billion in 2020.
After decades of hunt for fortune abroad, India's pharmaceutical companies now plan to strike gold in their own backyard. Large players from Ranbaxy to Dr Reddy's and Piramal Healthcare are all headed to rural India to boost their revenues.
Driven by strong local demand, Indian health care market is expected to continue growing close to previously projected rates of 10 to 12 per cent, McKinsey said in its report 'New Opportunities for US-India Biopharma and Healthcare Collaboration'.
The Clinical Research sector is emerging as an attractive option for science graduates, doctors, management/ IT professionals, alike.
Increasing personal incomes, addition of healthcare facilities and deeper penetration of health insurance will see India's pharmaceutical market triple to touch $20 billion in a decade, global consulting firm McKinsey said.
'India's relationship with China has been and will continue to be complex, delicate and sensitive,' says Rup Narayan Das.
India's pharmaceutical industry is losing around Rs 500 crore (Rs 5 billion) annually on account of destruction of expired drugs, hitting the bottom line of drug manufacturers, especially the small and medium ones.
The drugmaker has enjoyed big success with low-cost alternatives to AIDS and other high-priced drugs. But NGOs are taking away sales.
Bhai Mohan Singh, the grand old man of India's pharmaceutical industry and founder of Ranbaxy laboratories, passed away on Monday evening at the age of 89.
Malvinder Singh, President (Pharmaceuticals) and Executive Director, Ranbaxy, says the company aims to touch $5 billion in revenues by 2012, with growth coming from American and European markets.
Rosier year-end seen for Indian pharma thanks to faster US approvals.
Under terms of the agreed deal, Ranbaxy shareholders will get 0.8 of a Sun Pharmaceutical share for each Ranbaxy share they own.
Sun Pharma open to large acquisitions post Ranbaxy.
Sector-wise, pharmaceuticals, transport equipment and textiles will help accelerate overall export growth.
The Finance Ministry further said decision on seven FDI proposals has been deferred.
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore (Rs 23.26 billion).
Germany's drug regulator has banned the sale of 80 generic medicines with immediate effect on the grounds that their clinical trials conducted by India's pharmaceutical research company GVK Biosciences were "insufficient".
In a significant departure from tradition, the United States has decided to host Prime Minister Narendra Modi by working out a "special gesture date" around the 69th Session of the United Nations General Assembly meeting that is scheduled to take place on September 26 in New York.
The finance ministry is resisting pressure from other departments to cap foreign ownership of domestic drugmakers, fearing such a move would discourage potential investors, a senior ministry source said.
On Tuesday, Novartis agreed to buy GSK's oncology products business for $14.5 billion, while selling its vaccines business, excluding flu, to GSK for $7.1 billion.
Few top honchos of India Inc did very well in 2014.
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