'However, we have seen weakness in our active pharmaceutical ingredients business.'
Indian drug major Nicholas Piramal India Ltd is likely to be among the first pharmaceutical companies worldwide to develop drugs isolated from the flora and fauna of Antarctica.
Pharmaceutical and biotechnology major, Wockhardt has received final approval from the United States Food & Drug Administration for marketing the cardiac drug.
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.
For the poorest 20 per cent of Indians, the expenditure on medicines alone is 85 per cent of what they spend on their health, according to the National Sample Survey.
Competition in the US pharmaceutical market swelled in recent years, with increasing generic penetration.
'People should know the names of all such drugs which have been banned.'
Alkem Labs was issued drug alerts twice last year -- in June and July -- for its drug Glimekem.
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.
Roche has already adapted its business model in India to increase affordable access to drugs and try to stave off trouble from India's patent authorities.
According to the ministry, chemical ethylene glycol was found in a batch of syrup during laboratory tests.
The Union ministry of chemicals and fertilisers has initiated a move to bring all essential medicines sold in the country under a price cap.
Replying to supplementaries during Question Hour in the Lok Sabha, minister of state for chemicals and fertilisers Srikant Jena said the National Pharmaceutical Pricing Authority has been asked to look into demands for bringing 23 anti-cancer drugs within the ambit of price control.
Domestic pharmaceutical market registered a value growth of 14.4 per cent in January and 9.9 per cent in the 12 months ended January 2009. The yearly turnover was Rs 34,487.17 crore. The growth of the domestic drug sector, which was just 6.8 per cent in November 2008, improved to 13.2 per cent in December and to 14.4 per cent this January.
Move follows a spate of international regulatory enforcements on Indian drug firms.
Since the start of this financial year (FY24), the stock of Aurobindo Pharma has been one of the top pharma gainers, enhancing investor wealth by over 68 per cent, with a third of those gains coming in the last three months. The stock is riding on multiple triggers given its investments in the production-linked incentive or PLI scheme, biosimilars, injectables and vaccines, which should drive revenues and profits over the medium term. Better than expected performance after the June quarter results led to a revision of earnings estimates for FY24 and FY25.
These brands belong to about 320 drugs of leading Indian pharmaceutical companies. The Drug Controller General of India's (DCGI's) office feels that these have been launched without its approval.
Novartis said it is partnered with generic drugmaker Lupin Ltd to sell the drug in India
The drug pricing regulator on Tuesday said it will fix the ceiling prices of over 300 medicines by the end of this month, a move that will come as a major relief to patients.
Indian pharma firms under European drug regulator's scanner.
The manufacturing licence of Noida-based pharmaceutical firm Marion Biotech has been cancelled by the Uttar Pradesh authorities, according to officials.
After establishing its dominance in the export of bulk drugs (raw materials for medicine production) to India, the Chinese drug industry is exploring ways to enter the final frontier in drug production - the finished goods or formulation business - in the country.
Even as the Supreme Court had recently dismissed the industry's plea against prices fixed by the regulator and its timely implementation, the National Pharmaceutical Pricing Authority has asked companies to pay the overcharged dues with 15 per cent interest.
The industry feels that prices of active pharmaceutical ingredients (APIs) can go up in the range of 5-15 per cent.
Ranbaxy Laboratories on Friday said it had received approval from US Food and Drug Administration to manufacture and market nitrofurantoin monohydrate macrocrystals capsules (100 mg) and planned to bring the new drug to the market in April.
'That is a significant milestone for us and something we aspired for.'
The first petition alleges that Cipla Ltd, India's second largest pharmaceutical company, violated Roche's patent by launching a generic version of Valcyte. The second petition says Cipla violated the Swiss drug maker's trademark by launching the product in a phonetically similar name, 'Valcept'.
WHRL was founded in 1990 by Nobel laureate Sir John Vane to fund the research works at William Harvey Research Institute, one of the leading centres in the world for pharmacological research.
Sun Pharmaceutical Industries reported a 34 per cent year-on-year (Y-o-Y) jump in net profit to Rs 2,654.6 crore in Q4FY24.
The government is in talks with pharmaceutical companies for ensuring availability of cancer drugs at a minimal price at their low-cost pharmacy chain Jan Aushadhi stores across the country.
Pharmaceutical companies which increase prices of their medicines beyond 10 per cent in a year will face regulatory action.
India is one of the largest manufacturers of pharmaceutical products in the world with the annual production valued at over Rs 2 lakh crore.
