niftify.in

The Economic Times

Suven Pharmaceuticals names Vivek Sharma as executive chairman

Suven Pharma, backed by Advent International, has appointed Vivek Sharma as the new executive chairman effective September 20. Sharma brings extensive experience in managing CDMO businesses and will focus on global expansion. The former chairman, Annaswamy Vaidheesh, transitions to vice-chair of Suven’s Advisory council.

Business Standard

Garware Technical Fibres Ltd leads gainers in 'A' group

Suven Pharmaceuticals Ltd, Reliance Power Ltd, Rainbow Childrens Medicare Ltd and K P R Mill Ltd are among the other gainers in the BSE's 'A' group today, 19 September 2024.

Business Standard

Geojit Financial Services Ltd leads losers in 'B' group

Biofil Chemicals & Pharmaceuticals Ltd, Vimta Labs Ltd, Ruchira Papers Ltd and Sportking India Ltd are among the other losers in the BSE's 'B' group today, 17 September 2024.

The Economic Times

Fabtech Technologies files DRHP for initial public offering with SEBI

Fabtech Technologies, a pharmaceuticals engineering solutions provider, has filed for an IPO. The IPO will consist of a fresh issue of up to 1.20 crore equity shares, with proceeds used for working capital, acquisitions, and general corporate purposes. The issue will be divided among QIBs, non-institutional bidders, and retail investors.

Business Standard

Strides Pharma Science gets USFDA nod for generic antidepressant tablets

Strides Pharma Science Ltd on Monday said its arm has received approval from the US health regulator for its generic version of antidepressant Fluoxetine tablets. The approval granted by the US Food & Drug Administration (USFDA) to wholly owned subsidiary Strides Pharma Global Pte. Ltd, Singapore, is for Fluoxetine tablets of strength 60 mg, Strides Pharma Science said in a regulatory filing. The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Fluoxetine tablets, 60 mg, of TWi Pharmaceuticals, Inc, it added. The Fluoxetine tablets will be manufactured at the company's facility in Puducherry, Strides said. With the approval of the Fluoxetine Tabs 60 mg strength, the company is now positioned to offer a complete portfolio of Fluoxetine across capsules and tablets in 10 mg, 20 mg, and 60 mg strengths, it added. The addition of the Fluoxetine tablets 60 mg will allow for enhanced flexibility in dosing, catering to a broader spectrum of ...

Business Standard

Fabtech Technologies files draft papers with Sebi to raise funds via IPO

Fabtech Technologies -- a turnkey engineering solutions provider for the pharmaceuticals, biotech and healthcare industry -- has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. The Mumbai-based company's proposed initial public offering (IPO) is entirely a fresh issue of up to 1.20 crore equity shares. The offer also includes a reservation for a subscription by eligible employees, according to the draft red herring prospectus (DRHP). The company may raise up to Rs 10 crore through the pre-IPO round. If such placement is completed, the fresh issue size will be reduced. Proceeds from the IPO to the extent of Rs 120 crore will be used for funding the working capital requirements of the company, and Rs 30 crore for pursuing inorganic growth initiatives through acquisitions, and general corporate purposes. Fabtech Technologies, part of the Fabtech Group was incorporated as Globeroute Ventures Private Ltd. The company demerg

Business Standard

Strides receives USFDA approval for Fluoxetine Tabs 60 mg

Strides Pharma Science announced that its step-down wholly owned subsidiary, Strides Pharma Global, Singapore, has received approval for Fluoxetine Tabs 60 mg, from the United States Food & Drug Administration (USFDA). The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Fluoxetine Tablets, 60 mg, of TWi Pharmaceuticals, Inc.

Business Standard

Veeram Securities Ltd leads losers in 'B' group

KDDL Ltd, Sportking India Ltd, India Shelter Finance Corporation Ltd and Kwality Pharmaceuticals Ltd are among the other losers in the BSE's 'B' group today, 16 September 2024.

Business Standard

USFDA cites manufacturing lapses at Zydus Lifesciences' Gujarat plant

The US health regulator has pulled up Zydus Lifesciences for manufacturing lapses at its Gujarat-based plant. In a warning letter to company's Managing Director Sharvil Patel, the US Food and Drug Administration (USFDA) noted that the drug maker failed to investigate contamination identified in drug products at its Jarod-based plant in Vadodara district. The USFDA said it inspected the manufacturing facility from April 15 to 23, 2024. "This warning letter summarises significant violations of current good manufacturing practice (CGMP) regulations for finished pharmaceuticals," it added. It further said: "Because your methods, facilities, or controls for manufacturing, processing, packing, or holding do not conform to CGMP, your drug products are adulterated." A warning letter is issued when the US health regulator finds that a manufacturer has significantly violated its regulations. Elaborating on the manufacturing issues at the facility, USFDA noted: "Your firm failed to thorough

Business Standard

Akums Drugs gets patent for formulation to manage sickle cell disease

Akums Drugs and Pharmaceuticals on Friday said it has received patent for a formulation for Sickle Cell Disease (SCD). The company has received a patent from India patent office for its room temperature stable oral suspension of Hydroxyurea, a formulation aimed at managing SCD. "Our constant endeavor is to work on affordable medicines for Orphan Drugs and reduce dependency on imported medicines ensuring patient safety from rare diseases with timely and necessary treatment," Akums Managing Director Sanjeev Jain said in a statement. SCD, a genetic blood disorder, leads to severe health complications such as anaemia, frequent pain episodes and other debilitating symptoms, affecting millions worldwide, especially in India and Africa. Akums said its formulation will come at a fraction of the cost of imported Hydroxyurea solution.

CNBC TV18

Zydus Life arm signs exclusive US licensing and supply pact for MRI contrast agents

Zydus' agreement with Viwit Pharmaceuticals covers the supply of gadobutrol and gadoterate meglumine injections, widely used in MRI procedures to enhance the visibility of internal organs, blood vessels, and tissues. Shares of Zydus Lifesciences Ltd ended at ₹1,118.50, down by ₹1.65, or 0.15%, on the BSE.

Business Line

Pharmaids Pharmaceuticals secures ₹5 crore loan from related party

Pharmaids Pharmaceuticals’ shares rise 2.53% to ₹40.11

The Economic Times

Alkem joins $3 bn race for JB Chem as Torrent pauses talks

Alkem Laboratories, India's fifth-largest branded pharmaceutical company, is vying for JB Chemicals and Pharmaceuticals as KKR looks to sell. Torrent Pharmaceuticals has exited negotiations over valuation differences. If successful, this will be Alkem's largest acquisition, enhancing its presence in the chronic segment and potentially moving it to fourth place in the domestic formulations market.

The Economic Times

DCGI suspends nod to Entod's new eye drops over unapproved 'claims'

India's drug regulator has suspended Entod Pharmaceuticals' permission to manufacture and sell PresVu Eye Drops. The company did not obtain clearance for its claim that the drops reduce dependency on reading glasses for presbyopia. Entod plans to challenge the suspension in court, asserting that their clinical trials demonstrated efficacy and safety.

The Economic Times

Plant for production of Penicillin G & Clavulanic acid to start soon: Department of Pharmaceuticals

The Department of Pharmaceuticals has announced that India will soon start producing Clavulanic Acid, a key ingredient in the antibiotic Augmentin. This move is part of the Production Linked Incentive scheme aimed at reducing dependency on foreign imports and boosting local manufacturing of essential bulk drugs like Penicillin G and Clavulanic Acid.

Business Standard

Domestic formulations biz expected to grow 9-10% over next decade: Glenmark

The drug formulations market in India is expected to grow at a CAGR of 9-10 per cent over the next decade with Jan Aushadhi outlets anticipated to emerge as a much stronger player in the country, according to Glenmark Pharmaceuticals. The domestic formulations market is estimated to be at Rs 2 lakh crore, with a growth rate of 11 per cent over the past two decades. "It is projected that the domestic formulations market will maintain a compound annual growth rate (CAGR) of 9-10 per cent over the next decade," the Mumbai-based drug maker said in its Annual Report for 2023-24. As the Trade Generics and Jan Aushadhi channels expand, it is anticipated that these channels could collectively contribute 30 per cent to the market volume in ten years, it stated. The Jan Aushadhi initiative aims to enhance access to cost-effective, unbranded generics by scaling up to 25,000 franchise pharmacies by 2026, it said. "It is estimated that Jan Aushadhi procurement could account for 3-5 per cent o

Business Standard

Govt notifies uniform marketing code for medical devices industry

The government has notified a uniform code for marketing practices for the medical device industry in order to curb unethical practices. In a notification, Department of Pharmaceuticals (DoP) has asked the medical devices association to prohibit organising workshops abroad for healthcare professionals, offering them hotel stays or monetary grants. "All associations should constitute an ethics committee for marketing practices in medical devices (ECMPMD), upload it on their websites along with a detailed procedure of complaints, which will be linked to the UCPMP portal of Department of Pharmaceuticals," the notification said. The DoP has also sought disclosures form medical devices firms for particulars related to distribution of evaluation samples and expenses incurred on conferences , workshops, seminars etc. As part of the code, a medical device must not be promoted prior to receipt of product approval by the regulatory authority, the notification said. "The word safe or safet

The Economic Times

Medical devices cos asked to adopt uniform marketing code

The government has mandated medical devices associations to adopt a uniform marketing code similar to that for pharmaceuticals. This includes prohibitions on organizing workshops abroad and offering expensive perks to healthcare professionals. Companies must upload the code on their websites and form an Ethics Committee for Marketing Practices.

Business Line

Kanoria Chemicals doubles hexamine production with new manufacturing plants in Gujarat

The expansions aim to meet the increasing demand in sectors such as pharmaceuticals, rubber, textiles, and agrochemicals, both domestically and internationally

Business Standard

Entod Pharma denies false claims in media regarding PresVu Eye Drops

The company further mentioned that the opinions and claims printed in news stories do not represent Entod Pharmaceuticals

The Economic Times

Emcure Pharma brings product range for menopause wellness

Emcure Pharmaceuticals has introduced the Arth range of products to support women during menopause. This new line aims to alleviate symptoms such as hot flashes, night sweats, mood swings, and vaginal dryness. The company emphasizes raising awareness and providing affordable solutions for women's health during this critical phase.

The Economic Times

Bajaj Finserv Flexi Cap Fund completes one year; crosses Rs 3,500 crore AUM

This fund identifies and invests in companies that are poised to benefit from current and future market trends. With a focus on six key sectors - banking and financial services, pharmaceuticals, automobiles, technology, chemicals, and consumer goods - the fund maintains a diversified portfolio of over 60 stocks.

The Economic Times

Alembic Pharma gets USFDA nod for generic product

Alembic Pharmaceuticals has received approval from the USFDA to market Albendazole Tablets USP (200 mg), a generic drug for treating infections caused by worms. The tablets are equivalent to Impax Laboratories' Albenza and are used for conditions like parenchymal neurocysticercosis and cystic hydatid disease. Alembic Pharma shares rose 2.79% on Thursday.

Business Standard

India-EFTA trade deal: Swiss Federal Council begins ratification process

Switzerland's federal cabinet has adopted the ambitious trade pact between India and the European Free Trade Association (EFTA) and placed it before Parliament as part of the ratification process. The ambitious trade pact, signed in March between India and the European bloc comprising Norway, Switzerland, Iceland and Liechtenstein, aims at expanding trade across a range of areas, including pharmaceuticals, manufacturing, new technologies and machinery. Under the mega trade deal, the four European countries are looking at making an investment of USD 100 billion in India over the next 15 years. Each of the signatory countries will have to ratify the pact for its roll out. On Wednesday, the Federal Council adopted a dispatch on the free-trade agreement between the EFTA states and India, the Swiss government said in a statement. The Federal Council, which is the Swiss federal cabinet, is the highest executive authority in the country. The Swiss Parliament is expected to debate the ..

Business Standard

Glenmark to pay $25 million as part of settlement with US authorities

Glenmark Pharmaceuticals has agreed to pay USD 25 million as part of a settlement with the US Department of Justice regarding a case related to the pricing of a generic drug. Glenmark Pharmaceuticals Inc, USA, a wholly-owned subsidiary of the Mumbai-based drug maker, has agreed to pay the amount in six installments over five years, with interest on the settlement amount at a rate of 4.25 per cent per annum from May 28, 2024, the company said in a late night regulatory filing on Wednesday. The Civil Division of the US Department of Justice has concluded its False Claims Act and Anti-Kickback Statute investigation in a settlement with Glenmark Pharmaceuticals Inc, USA, it said. "The settlement amount and interest on the settlement amount constitute restitution," the drug maker said. As noted, the settlement does not contain any admission of liability by the company, except to the extent already admitted by Glenmark in the August 2023 Deferred Prosecution Agreement, it added. Last ye

Mint

Breakthrough: Will DCGI-approved Entod Pharma's PresVu eyedrops eliminate need for reading glasses?

Entod Pharmaceuticals has made a significant breakthrough in eye care, securing DCGI approval for its innovative PresVu eye drops. 

Business Standard

Entod Pharmaceuticals gets DCGI approval for eye drops to treat presbyopia

Entod Pharmaceuticals on Tuesday said it has received approval from the Drug Controller General of India (DCGI) to market eye drops for the treatment of presbyopia. The Mumbai-based drugmaker has received a final approval for PresVu eye drops and plans to introduce it in the domestic market in the first week of October. The approval follows an earlier recommendation by the Subject Expert Committee (SEC) of the Central Drugs Standard Control Organisation (CDSCO). PresVu is the first eye drop in India specifically developed to reduce dependency on reading glasses for individuals affected by presbyopia, a common age-related vision condition that typically impacts those over 40. "This DCGI approval is a major step forward in our mission to transform eye care in India. PresVu is more than just a product; it's a solution that stands to improve the lives of millions by offering them greater visual independence," Entod Pharmaceuticals CEO Nikkhil K Masurkar said. According to industry ...

CNBC TV18

GlaxoSmithKline Pharma gets big income tax refund

GlaxoSmithKline Pharmaceuticals reported a 37.8% year-on-year (YoY) jump in net profit at ₹182.3 crore for the first quarter of FY25. Shares of GlaxoSmithKline Pharmaceuticals Ltd ended at ₹2,836.20, up by ₹53.90, or 1.94%, on the BSE.

Hindustan Times

IIM-A executive MBA's highest salary falls to 6 year low. The lowest package is…

IIM-Ahmedabad's MBA for executives saw increased placements in healthcare, pharmaceuticals, and energy sectors.

Mint

Alnylam Dealt Setback in Quest to Expand Heart Drug’s Uses

Alnylam Pharmaceuticals Inc. shares fell after a trial of its drug to treat a deadly form of heart disease fell short of investors’ expectations.

Mint

Torrent Pharmaceuticals, Divis Laboratories & others hit 52 week high today ; Do you own any?

Following shares hit their 52 week high today - Torrent Pharmaceuticals, Divis Laboratories, Abbott India, HCL Technologies, Bajaj Auto

Business Standard

India-Oman free trade pact talks at advanced stage, says Ambassador Narang

Discussions for the proposed free trade agreement (FTA) between India and Oman are at an advanced stage and both sides hope to conclude the pact early, Indian Ambassador to Oman Amit Narang said on Tuesday. The pact will give a significant push to bilateral trade and investment ties between the two countries, he said. The pact, officially known as the Comprehensive Economic Partnership Agreement (CEPA), is expected to boost Indian exports to the west Asian country by eliminating duties, especially on petroleum products, textiles, electronics, pharmaceuticals, machinery, and iron and steel. "Discussions for a bilateral CEPA with Oman are at an advanced stage. We hope to conclude these discussions early and once this is done, this will be a significant push to bilateral, not just trade, but also bilateral investment ties," Narang said. Addressing an event organised by Ficci here, the Indian Ambassador to Oman also highlighted the significant potential for enhancing direct shipping li

Business Standard

Alembic Pharma shares rise after USFDA drug approval; check details here

Shares of Alembic Pharmaceuticals soared up to 4.13 per cent at Rs 1,135 per share on the BSE

Business Line

Akums Drugs and Pharmaceuticals back in black with ₹42 crore standalone net profit for June quarter

The company reported a revenue of ₹317 crore for the period under review. Revenues were near flat on a y-o-y basis at ₹316 crore

Business Standard

Aurobindo, others recall products in US market over production issue: USFDA

Drug makers Aurobindo Pharma, Glenmark and FDC are recalling products in the US due to manufacturing issues, as per the US Food and Drug Administration (USFDA). Aurobindo Pharma USA Inc -- a unit of Hyderabad-based drug major -- is recalling 240 bottles of pain-relieving medication Healthy Living Acetaminophen, Aspirin (NSAID) and caffeine tablets. As per the latest enforcement report of USFDA, the company is recalling the affected lot due to "Missing Label". Some bottles are missing the manufacturer's label that includes the drug facts information, the US health regulator said. The New Jersey-based Aurobindo Pharma USA Inc initiated the Class 1 recall on July 11, it said. As per the US health regulator, a Class I recall pertains to defective products that can cause serious health problems. Similarly, a US-based subsidiary of Glenmark Pharmaceuticals is recalling 2,404 bottles of Indomethacin Extended-Release Capsules, produced at a Madhya Pradesh plant, due to "Failed Dissolutio

The Economic Times

Aurobindo, Glenmark, FDC recall products in US market over manufacturing issues: USFDA

The New Jersey-based Aurobindo Pharma USA Inc initiated the Class 1 recall on July 11, it said. As per the US health regulator, a Class I recall pertains to defective products that can cause serious health problems. Similarly, a US-based subsidiary of Glenmark Pharmaceuticals is recalling 2,404 bottles of Indomethacin Extended-Release Capsules, produced at a Madhya Pradesh plant, due to "Failed Dissolution Specifications", USFDA said.

The Economic Times

Alembic Pharma gets USFDA nod for generic drug

Alembic Pharmaceuticals has been granted final approval from the USFDA for its generic Betamethasone Valerate Foam, intended to treat moderate-to-severe psoriasis of the scalp. This medication is equivalent to Luxiq Foam by Norvium Bioscience. Alembic’s shares ended 0.97% lower at Rs 1,089.90 on the BSE.

The Economic Times

Akum Drugs shares tumble 5% despite posting Rs 60 crore Q1 profit

Akum Drugs Share Price: Akum Drugs and Pharmaceuticals' shares dropped 5% to Rs 895 despite reporting a Rs 60 crore net profit for the June quarter, reversing a Rs 187.4 crore loss from FY24. Revenue also rose 5% YoY to Rs 1,091 crore.

The Economic Times

Cathay Cargo keen to grow biz in India, wants to 'co-terminate' freighter planes

Cathay Cargo sought permission to expand operations in India by co-terminating flights under the open sky policy. The company focused on India's robust economic growth, enhancements in infrastructure, and rising exports in sectors like pharmaceuticals, auto components, and electronics to justify this expansion strategy, reflecting a strong belief in the market's potential.

Business Standard

Alembic Pharma gets USFDA nod for Betamethasone Valerate Foam

Alembic Pharmaceuticals announced that it has received final approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Betamethasone Valerate Foam.