Excise duty on drugs likely to be halved
Pharmaceuticals major Mankind Pharma reported a 21 per cent year-on-year (Y-o-Y) increase in net profit, with revenue rising by 12 per cent Y-o-Y in the second quarter of the financial year 2024 (Q2FY24) in a regulatory filing lrecently.
Global capability centres (GCCs) are increasingly looking to tap into revenue opportunities from the Indian market, which is already a critical talent hub. While capturing the potential of the Indian market has been in the works over the past few years, it's only of late that companies are gaining momentum. India is home to more than 1,580 GCCs, with a total market size of $46 billion and growing at a compound annual growth rate (CAGR) of 11.4 per cent, according to a Nasscom-Zinnov report.
Sun Pharmaceutical Industries Ltd has posted a 47.24 per cent rise in consolidated net profits at Rs 247.5 crore (Rs 2.47 billion) in the financial year ended March 31, 2003, compared to Rs 168.09 crore (Rs 1.68 billion).
Nicholas Piramal India, a dominant player in the domestic pharmaceutical industry, appears to be unfazed by the anticipated consequences of the product patent regime that comes into play from January 2005.
A US district court has dismissed a petition by Israel's Taro Pharmaceutical Industries to block leading Indian drug maker Sun Pharma from launching an open offer to acquire majority stake in the former.
Growth has been under pressure since the lockdowns related to Covid-19 started and fresh prescription generations slowed.
US-based Abbott Laboratories has sued Sun Pharmaceutical Industries and Ranbaxy Laboratories in courts there for challenging the patents of its cholesterol-lowering drugs, Niaspan and TriCor, respectively, in separate infringement suits.
Additional solicitor-general says extra-neutral alcohol liable to new tax
Patil, the first Indian Head of State to visit China in a decade, took up the issue of the growing trade imbalance.
Industries looking for opportunities to move out of Maharashtra are the Shiv Sena's latest target.
The big companies too are responsible for the sub-standard drugs in the market.
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'.
Better-than-expected financial results in Q3 due to higher revenue growth and margins in key markets fuel the rally
Sun Pharma, which was fighting a takeover battle with Israeli pharma major Taro, on Wednesday said that the Supreme Court of Israel has given the ruling in favour of the company.
The government has begun work on expanding the country's National List of Essential Medicines, which was last revised in 2003.
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.
rediffGURU Mayank Kumar offers guidance about degree courses, campus, job-linked and executive programmes and studying abroad.
Days after medical representatives said their employers were flouting the government's drug-pricing norms, the pharmaceutical industry has decided to clip their wings. These companies want them to be no longer recognised as "workmen," a classification that gives them the right to form trade unions.
Sun Pharmaceutical Industries on Friday said that it has received the US Food and Drug Administration's nod to market a generic version of alprazolam, an anti-anxiety drug, in the US market.
Fresh guidelines issued by the Union home ministry on Wednesday permit industries operating in rural areas to run from April 30 with strict social distancing norms.
Mandatory prescription of generic names is not a complete solution. Rather, in the absence of a range of approaches, it could mean passing the choice of selecting a drug from a doctor to a pharmacist, says Chandrakant Lahariya.
Under the agreement, MedImmune has granted Sun Pharma a licence to certain patents, permitting Sun Pharma to continue marketing its generic version of Ethyol in the US.
The future looks somewhat bright for the Indian pharmaceutical industry which is wholly into generics. It expects to get a push from the new US legislation bringing into the health-care fold 32 million or 10 per cent of the country's population which is currently uninsured.
Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under its trade pact with the EFTA bloc on these goods over a period of time. India and the four-European nation bloc EFTA signed a trade and economic partnership agreement (TEPA) on Sunday to boost trade and investments between the two regions. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
Satyam Computer Services Ltd said on Monday it has signed a strategic partnership agreement with Denmark-based NNIT, a leading consultancy firm in IT operations.
A leading Australian expert has said that the outbreak of H1N1 was falsely exaggerated by pharmaceutical industries to create a huge market for vaccines. According to The Sun, Wolfgang Wodarg, head of health at the Council of Europe, insists that major firms organised a "campaign of panic" to put pressure on the World Health Organisation to declare a pandemic.
Drug maker Natco on Monday said that the Patent Office has upheld the firm's opposition to an application of Yeda Research & Development Company for patenting a generic version of a product of Teva Pharmaceutical Industries.
The comments need to be submitted to the Competition Commission of India within 15 days, along with supporting documents on how the merger can adversely impact the concerned person or entity, the regulator said, while adding that it would not consider 'unsubstantiated objections' to the deal.
At a projected growth rate of 15-20 per cent per annum, by 2015 at least 200,000 more pharma graduates would be required by the Indian pharmaceutical industry which currently employs about 10 lakh (1 million) pharmacists.
Once a difficult market to crack, in recent years, China has relatively opened up its drug market, enacting reforms and speeding up approval time.
Even as the domestic pharmaceutical industry is exploring new markets in Latin America and the Commonwealth of Independent States, exports to countries in Africa are declining.
The Mashelkar panel's recommendation to consider all modifications and variants of new chemical entities (NCEs) as patentable has invited criticism from sections of Indian pharmaceutical industry and public interest organisations
Israel's pharma firm, Teva, is planning to invest Rs. 4000 crores in India.
Increasing band of expats is driving the Jubilant Organosys drug development and discovery business. Of the total 1,025 scientific manpower strength
