Pharmaceutical Firms

Piramal Pharma on Friday said it will pay USD 407,400 to US-based VetDC, Inc to settle a dispute over rejected batches of a product. Piramal Pharma Solutions Inc, a unit of the company, and VetDC, Inc have entered into a settlement agreement for an amount of USD 407,400, the drug maker said in a regulatory filing. VetDC had claimed damages on account of rejection of certain batches of product manufactured and supplied by Piramal Pharma Solutions Inc. "While the company continues to believe that its legal stand is appropriate against claims made by VetDC and maintains that it has defence to VetDC's claims of liabilities and damages, in order to solely avoid continued legal costs and uncertainties of protracted litigation, the Company and VetDC have both decided to settle," Piramal Pharma said. The company shall have no responsibility for any other costs beyond the amount of USD 407,400, it added. "This settlement will not have a significant impact on the financial position of the .

Wockhardt's nafithromycin is India's first FDA-approved antimicrobial that is seen as an alternative to existing antibiotics like azithromycin, which is facing increasing resistance in humans

Dr Reddy's Laboratories and FDC Ltd are recalling generic medications in the US market due to manufacturing issues, according to the US health regulator. As per the latest Enforcement Report by Food and Drug Administration (USFDA), the US-based subsidiary of Dr Reddy's Laboratories is recalling multiple strengths of Morphine Sulfate extended-release tablets in the US. The medication is used to relieve severe and persistent pain. As per the USFDA, Princeton-based Dr Reddy's Laboratories Inc is recalling 2,040 bottles of 15 mg Morphine Sulfate extended-release tablets due to "Failed Impurities/Degradation Specification". The drugmaker is also recalling another 532 100-count bottles of the medication in 30 mg strength for the same reason, USFDA stated. Dr Reddy's initiated the Class II nationwide recall on October 22 this year. USFDA said Mumbai-headquartred FDC Ltd is recalling 1,55,232 bottles of Timolol Maleate ophthalmic solution in the US market. The company is recalling the .

SMEs manufacture and market formulations based on less complex molecules, given their higher exposure to generic products

AstraZeneca now expects 2024 revenue and core earnings per share to grow by a high-teens percentage, from a previous forecast of a mid-teens percentage at constant currency rates for both revenue

Zydus Lifesciences Ltd on Tuesday reported a 13.8 per cent rise in consolidated net profit at Rs 911.2 crore in the second quarter ended September 30, 2024. The company had posted a consolidated net profit of Rs 800.7 crore in the corresponding period of the last fiscal year, Zydus Lifesciences Ltd said in a regulatory filing. Consolidated revenue from operations stood at Rs 5,237 crore, as compared to Rs 4,368.8 crore in the year-ago period, it added. "Sustained growth momentum across our businesses along with enhanced profitability drove our strong Q2 performance. Execution success of our differentiated pipeline in the US and outperformance of our India geography business were particularly noteworthy," Zydus Lifesciences Managing Director Sharvil Patel said. India geography comprising formulations as well as consumer wellness businesses registered revenues of Rs 1,944.4 crore, up 10 per cent year-on-year (y-o-y). The US formulations business registered revenue of Rs 2,416 8 cror

Global pharma company Alkomex GBN looks to expand its research and development footprint in India and has roped in nutraceuticals expert Sanjay Agrawal to spearhead its strategic initiatives in the country, a statement said on Monday. Alkomex GBN has formed a partnership with Dr Sanjay Agrawal, a renowned Indian expert in health management and nutraceuticals, and has appointed him as the Scientific Advisor for Alkomex GBN, the statement said. "His leadership will be instrumental in driving our growth as we continue to expand our footprint in the nutraceutical and functional food sectors," Alkomex CEO Alex Meneses Vega said. Agrawal will be based in Ahmedabad and will spearhead the US firm's research and strategic initiatives, it said, adding that he will guide the company's R&D efforts and integrate Indian research into Alkomex's global operations. The partnership is expected to significantly strengthen Alkomex GBN's capabilities in developing scientifically-backed nutraceuticals .

Merger-bound Suven Pharmaceuticals and Cohance Lifesciences aim to more than double their combined revenue to around Rs 6,000 crore by FY29 by undertaking both organic and inorganic growth routes, a top company official said. The entities reported a combined revenue of Rs 2,392 crore in FY24. The merged entity aims to put in place an aggressive plan to more than double revenue to Rs 6,000 crore by FY29 through both organic and inorganic growth routes, Suven Pharma Managing Director Prasada Raju said. The merger between Suven and Cohance has received approval from both NSE & BSE. As directed by National Company Law Tribunal (NCLT), the shareholders meeting of both Suven Pharmaceuticals and Cohance Lifesciences amalgamation will be held on November 28, 2024. Once finalised and approved, the combined entity will focus on three core growth drivers: pharma CDMO, specialty chemicals CDMO, and active pharmaceutical ingredients (APIs). "Together, we're building a powerhouse poised to ...

The pharmaceutical company, Mits Healthcare also gifted 12 cars to its employees last year ahead of the Diwali festival

A delegation from Uzbekistan met officials from India's Central Drugs Standard Control Organisation and discussed areas of collaboration, including the development of a pharmacovigilance system and reducing adverse effects of pharmaceutical products, officials said on Wednesday. The delegation led by Alisher Temirov, Director of the Center for Pharmaceutical Products Safety, Uzbekistan had detailed discussions with Ranga Chandrashekar, Joint Drugs Controller of India's regulatory body for drug control, regarding the quality and safety in the pharma sector, they added. "Several important issues were discussed during the meeting, including the development of a pharmacovigilance system, reducing the adverse effects of pharmaceutical products, and identifying ways to prevent potential risks. It was emphasised that strengthening international cooperation in this area is crucial for ensuring public health," an official statement said. Temirov stressed the importance of developing effectiv

Drug firm Glenmark is recalling two products in the US due to manufacturing issues, according to the US Food and Drug Administration. New Jersey-based Glenmark Pharmaceuticals Inc, USA, a unit of Mumbai-based Glenmark Pharmaceuticals, is recalling 45,504 bottles of Ryaltris (olopatadine hydrochloride and mometasone fluorate) Nasal Spray. The company is recalling the affected lot due to "defective delivery system", the US Food and Drug Administration (USFDA) said in its latest enforcement report. "The dip tube is clogged causing the spray not to work," it added. Glenmark Pharmaceuticals Inc, USA, initiated the nationwide (US) Class II recall on September 24 this year. As per the USFDA, a Class II recall is initiated in a situation in which use of, or exposure to, a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote. The US health regulator said the drug firm is also ...

Lawsuits against the companies began piling up in both state and federal courts after the US Food and Drug Administration in 2020 asked manufacturers to pull Zantac off the market

Exports of India's pharmaceutical and meditech sectors are expected to sustain the growth momentum in the ongoing fiscal despite a slowdown in the global economy, a senior government official said on Wednesday. With the government revving up support for drug development in India, as many as 16 blockbuster molecules targeted for a wide range of therapeutic areas, including cancer, diabetes, HIV and tuberculosis, are in the pipeline to be produced in India, Department of Pharmaceuticals, Secretary Arunish Chawla told reporters on the sidelines of CII Pharma and Life Sciences summit here. "We have been analysing the export trends in the recent data. Even though there is a general slowdown in exports globally, the good news is that the Indian pharmaceuticals, biotech, and bulk drug exports have grown double-digit over the last year," he said in response to a query on export prospects of the pharma industry amid a global slowdown. He further said,"In the first four months of this year, .

CVS is led by healthcare industry veteran Karen Lynch, who previously headed the Aetna unit and is temporarily overseeing the business with Chief Financial Officer Tom Cowhey

India's regulatory and policy reforms are crucial for shaping the future of pharmaceutical research and development by streamlining approval processes, strengthening IP protections and incentivising innovation, as several policy challenges continue to hinder the growth of R&D in the sector, according to a report. As the country modernises its regulatory framework and enhances collaboration with global regulatory agencies, India is well-positioned to become a global leader in pharmaceutical innovation, as per the report by Deloitte and industry chamber ASSOCHAM. It acknowledged that India's pharmaceutical ecosystem is transforming significantly, supported by comprehensive regulatory and policy reforms to foster innovation and growth. The regulatory framework, which governs drug discovery, development and commercialisation, is being actively enhanced to streamline approval processes, increase transparency and reduce barriers to entry for innovative products. However, the report ...

Rs 8,000 crore merger will create one of the largest animal health companies in India

Eyeing tripling of Ebitda and bringing down net debt during the same period

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.

Shares of Sudarshan Pharma Industries were frozen in upper circuit of 5 per cent at Rs 274.50, which is also the new high it hit on the BSE in Thursday's intra-day trade.

Sheetal Sapale, vice-president (commercial) at Pharmarack, said that new introductions and price growth have driven the market growth for the month of August 2024