Top Section
Explore Business Standard
Don’t miss the latest developments in business and finance.
Brokerages slash target price after subdued Q2 show
Move comes after drug regulator had suspended nod granted to firm to manufacture, sell PresVu eye drops
The sector is expected to benefit from steady cash flows and low financial leverage, which will help maintain stable credit profiles, even as pharma cos pursue acquisitions in niche therapeutic areas
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.
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
The company further mentioned that the opinions and claims printed in news stories do not represent Entod Pharmaceuticals
Shares of Shilpa Medicare were trading at Rs 733.15, up by nearly Rs 36, or 5.15 per cent on the BSE. In contrast, the 30-stock BSE Sensex was trading at 81,714 levels, up 0.77 per cent.
Neffy's approval is based on 4 studies in 175 healthy adults without anaphylaxis that measured epinephrine concentrations in blood following administration of neffy
GSK Pharma's stocks were up by 2.49 per cent, ending the day's trade at Rs 2,824.45 apiece on the Bombay Stock Exchange (BSE)
Pharmaceutical industry is urging government to halt the transfer of nutraceutical oversight from FSSAI to the drug regulatory authority, citing potential market impact
Indian pharmaceutical companies recently came under the scanner after global supplies of certain medicines were found to be toxic
The uptick in stock price came after the company announced that it has secured an award for its antibiotic product, Ceftriaxone 1 gm, from UNICEF
The drugs were among those sold by CVS Health Corp., the largest US pharmacy, under its store-brand label before being recalled
US health officials warned parents to avoid powdered infant formula sold by a Texas dairy producer, because a dangerous bacteria was found in one of the company's products. The Food and Drug Administration issued the alert Friday on Crecelac Infant Powdered Goat Milk Infant Formula, after a sample collected from a Texas store tested positive for cronobacter, which can cause deadly infections in babies. The same bacteria sparked recalls and shortages of infant formula in 2022 after it was detected at a major US formula factory. The Crecelac formula was imported and distributed by Dairy Manufacturers Inc., of Prosper, Texas, according to the FDA. Press releases from the FDA and the company did not specify where the product was produced or how widely it was distributed in the US Messages left for the company on Friday were not immediately returned. Last week, the company voluntarily recalled the Crecelac formula and another brand, Farmalac, because they had not received approval by the
MedPlus competes with Reliance-owned Netmeds and Apollo Pharmacies among other retail pharmacies in the Indian OTC drugs market
Sun Pharma is set to see a strong financial earnings on a year-on-year (Y-o-Y) basis for Q4FY23, showing a 8-14 per cent Y-o-Y jump in its topline
In Q4FY24, Piramal Pharma reported a 102 per cent Year-on-Year (YoY) surge in Profit After Tax (PAT), totaling Rs 101.27 crore
Mumbai-based Lupin posted a 52 percent year-on-year increase in consolidated net profit, reaching Rs 359.43 crore for the January-March quarter of FY24
Former ICMR scientist Raman Gangakhedkar said the risk is highest after the initial dose, eventually decreasing with subsequent doses