Cheaper Drugs

Ahead of IPO, Akums Drugs garners Rs 829 crore from anchor investors

Akum Drugs and Pharmaceuticals Ltd on Monday said it has collected Rs 829 crore from anchor investors a day before its share-sale opening for public subscription. Abu Dhabi Investment Authority, Smallcap World Fund, Inc, HSBC Global Investment Funds, SBI Mutual Fund (MF), Bandhan MF, Motilal Oswal MF, Aditya Birla Sun Life MF, SBI Life Insurance Company, HDFC Life Insurance Company and ICICI Prudential Life Insurance Company are among the anchor investors. According to a circular uploaded on NSE's website, the company has decided to allocate 1.22 crore shares to 50 funds at Rs 679 apiece, aggregating the transaction size to Rs 828.78 crore. The issue, with a price band of Rs 646 to Rs 679 per share, will open for public subscription on July 30 and conclude on August 1. The Rs 1,875-crore IPO is a combination of a fresh issue of equity shares worth Rs 680 crore and an offer for sale (OFS) of 1.73 crore shares valued at Rs 1,177 crore at the upper end of the price band by promoters

Non-standard drugs supply in Delhi govt hospitals: L-G calls for CBI probe

Delhi Lieutenant Governor V K Saxena has recommended a CBI inquiry into the alleged procurement and supply of "non-standard" drugs in Delhi government hospitals, Raj Niwas officials said on Saturday. When asked about the matter, Delhi Environment Minister Gopal Rai told PTI that the government will come out with a detailed response. He also alleged that there is an attempt to obstruct the work of the government through such inquiries. The Raj Niwas officials said that in a note to Chief Secretary Naresh Kumar, the Lt Governor mentioned that it is concerning that these medicines are being given to lakhs of patients. "It is with a sense of deep concern that I have perused the file. I am, to say the least, anguished at the fact that lakhs of hapless people and patients are being supplied fake drugs that have failed quality standard tests," read the note to Kumar. These drugs, procured by the Central Procurement Agency (CPA) under the Delhi Health Services (DHS), were supplied to Delhi

Families struggle to import life-saving drugs as lockdown hits grey market

With no new stock coming in, both patients and grey market vendors started running out of vigabatrin

MPs ask govt to promote inexpensive drugs, tighten reins on pharma lobby

A dozen of the 30 MPs, who are members of the parliamentary standing committee on home affairs, headed by Congress's Anand Sharma, attended the meeting

Govt considering one-time settlement option in drug overcharging cases

Pharma companies feel that working out an overarching solution for the entire industry is cumbersome and unlikely to work out

Wait for cheaper drugs might get longer

Lobby group tells USTR it has got assurance from India on compulsory licensing