Drug Firms

NPPA sets prices for 42 drugs, revises ceiling for 2 formulations

Prices have been fixed for drugs and formulations meant for diabetes, hypertension, heart issues, bacterial infections, allergies, and multivitamins

Wockhardt Q2 results: Net loss narrows to Rs 16 cr, revenue at Rs 809 cr

Drug firm Wockhardt on Wednesday reported a consolidated net loss of Rs 16 crore for the second quarter ended September 30, 2024. The company has reported a net loss of Rs 73 crore in July-September quarter of last fiscal. Revenue from operations stood at Rs 809 crore for the second quarter as compared with Rs 753 crore in the year-ago period, the Mumbai-based drug maker said in a regulatory filing. Shares of the company were trading 0.63 per cent up at Rs 1,189 apiece on BSE.

USFDA still struggling to conduct pending drug inspections after Covid

Federal regulators responsible for the safety of the US drug supply are still struggling to get back to where they were in 2019, before the COVID-19 pandemic upended factory inspections in the US and across the world, The Associated Press has found. An AP analysis of Food and Drug Administration data shows that agency staffers have not returned to roughly 2,000 pharmaceutical manufacturing firms to conduct surveillance inspections since before the pandemic. The firms that are overdue for safety and quality inspections represent about 42 per cent of the 4,700 plants that are currently registered to produce drugs for the US and previously underwent FDA review before May 2019, the AP found. Most of the overdue plants are in the US, but more than 340 are in India and China, countries that together make up the largest source of drug ingredients used in low-cost US prescriptions. Generic drugmakers are under intense pressure to cut their costs and some will do that by cutting quality, sa

MK Hamied steps down as Cipla's Vice Chairman on account of age, health

Drug major Cipla on Tuesday said MK Hamied has resigned as Vice Chairman with effect from October 29 due to age and health. "It is with a heavy heart that I write to formally announce my resignation from the position of Vice Chairman and Non-Executive Director of the company," he said in a letter to the board of directors. The company said the board has also approved the appointment of Kamil Hamied as Non-Executive Director, with effect November 1, 2024. "I am pleased to see that Kamil Hamied will be joining the Board as a Non-Executive Director to maintain continuity while representing the promoter family," MK Hamied said in the letter.

Abbott India Q1 results: PAT rises 13% to Rs 328 cr, income at Rs 1,625 cr

Drug firm Abbott India on Wednesday said its net profit increased by 13 per cent year on year to Rs 328 crore for the first quarter ended June 30, 2024. The company reported a net profit of Rs 290 crore in the April-June quarter of last fiscal. Total income rose to Rs 1,625 crore for the period under review as against Rs 1,535 crore in the June quarter of FY24, Abbott India said in a regulatory filing. Shares of the company on Wednesday ended 1.29 per cent up at Rs 28,159.95 apiece on the BSE.

Wockhardt Q4 results: Net loss at Rs 177 cr, revenue rises to Rs 700 cr

Drug firm Wockhardt on Tuesday reported a consolidated net loss of Rs 177 crore for the fourth quarter ended March 31, 2024. The company had reported a net loss of Rs 237 crore in the January-March quarter of 2022-23. Revenue from operations stood at Rs 700 crore for the period under review as compared with Rs 678 crore in the same period of FY23, the Mumbai-based drugmaker said in a regulatory filing. For the year ended March 31, 2024, the company reported a net loss of Rs 472 crore against a net loss of Rs 621 crore in 2022-23 fiscal. Revenue from operations increased to Rs 2,798 crore in FY24 compared with Rs 2,651 crore in FY23. The company said its board approved the re-appointment of Habil Khorakiwala as Executive Chairman for a further term of five years with effect from March 1, 2025, to February 28, 2030. Shares of the company on Tuesday ended 0.49 per cent down at Rs 557.95 apiece on the BSE.

Centre seeks more time to frame policy on online sale of medicines

The Centre has urged the Delhi High Court to grant some time to frame a policy on the online sale of medicines on the grounds that the issue was "complex" and any modification in the manner of sale of drugs would have far-reaching consequences. The high court granted the Union Ministry of Health and Family Welfare four months as a last and final opportunity to frame the policy. A bench of Acting Chief Justice Manmohan and Justice Manmeet PS Arora made clear that "if the draft policy is not prepared before the next date of hearing, this court will have no other option but to proceed ahead with the matter". The high court, which was hearing several petitions seeking a ban on the "illegal" sale of drugs online and challenging the draft rules published by the ministry to further amend the Drugs and Cosmetics Rules, listed the matter for further hearing on July 8. It had earlier asked the Centre to file a status report on the petitions. During the recent hearing, the joint secretary of

Glenmark Pharma eyes $80 mn from it's nasal spray Ryaltris sales next year

Glenmark Pharmaceuticals expects its nasal spray Ryaltris to hit about USD 80 million in sales next year, boosting its overall revenue, according to a top company executive. The drug firm has so far commercialised the product in 31 geographies across the globe. Ryaltris is indicated for symptomatic treatment of seasonal and perennial allergic rhinitis in adults and children over 12 years of age. The drug relieves symptoms of allergic rhinitis, including stuffy nose, runny nose, nasal itching, sneezing, as well as itchy, red and watery eyes. "Ryaltris is a huge product for us, right? I mean next year, we anticipate sales of close to about USD 80-odd million. So it's a very large product already in a short time," Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said. The company is yet to launch the product in many of the major markets like China and Brazil, he added. Further, Saldana said, "So I think from peak sales, this will be a substantial product for us

Govt rejects EFTA's data exclusivity demand to protect generic drug cos

Commerce secretary Sunil Barthwal on Thursday said that there is no free trade agreement (FTA) in which India will go against the generic drug industry

Cipla's net profit jumps 32% to Rs 1,055.9 crore in third quarter

Cipla advanced its board meeting to January 22 to approve its results for the quarter and nine months ended December 31, 2023, to avoid confusion following an alleged social media leak

Cracking the whip: 18 drug companies lose licence over spurious medicines

Move comes after Drugs Controller General of India conducts inspection on 76 drug firms in 20 states

Orchid Pharma board approves QIP programme to raise Rs 500 crore

Drug firm Orchid Pharma on Thursday said its board has approved to raise Rs 500 crore from institutional investors. The company's board has approved a Qualified Institutional Placement (QIP) programme to raise Rs 500 crore, it said in a regulatory filing. With this QIP, the Dhanuka group, which took over the company in 2018, is also meeting its mandatory obligation to dilute 15 per cent stake in it by March 2023. Post a successful turnaround of the Insolvency Bankruptcy Code case, the company has been on a growth spree, it said. On the back of a robust product launch pipeline and an agile management team, the company said it is poised to become an even stronger player in the Cephalosporin antibiotics space.

Wockhardt ties up with various partners to roll out products in US market

Drug firm Wockhardt on Saturday said it has tied up with various partners to roll out products in the US market with its Illinois-based manufacturing plant all set to relieve all workers in a phased manner as part of business restructuring in the US market. The Mumbai-based company said it has engaged multiple US Food and Drug Administration (USFDA) approved manufacturing partners in the US market, after thorough due diligence and inspection of their facilities, to manufacture various products for sale in the US/ North America. "The company is relieving all its staff who were directly engaged by our US subsidiary in its plant in connection with the manufacturing process in a phased manner and in full compliance with the applicable local laws," Wockhardt Ltd said in a regulatory filing. This new arrangement is in the best interest of the company as it will help avoid the manufacturing and quality management cost completely resulting in significant savings in operating and overhead co

Pfizer India Q1 profit falls 83% to Rs 33 crore, revenue down 21%

The drug firm said exceptional items for June quarter comprised Rs 130 crore on account of a voluntary retirement scheme and Rs 6 crore for restructuring to drive business transformation.

I-T dept raids Delhi-Haryana pharma and realty cos; seizes cash and gold

Finds links to Hawala sale of medicines to Afghanistan

AstraZeneca Pharma India Q2 net profit declines 55% to Rs 12 crore

The drug firm on Tuesday reported a 54.65 per cent decline in its net profit

Zydus Cadila gets tentative nod from USFDA to market generic acne drug

Drug firm Zydus Cadila on Friday said it has received tentative nod from the US health regulator to market generic Adapalene and Benzoyl Peroxide gel used for treatment of acne in the American market. The company has received tentative approval from the United States Food and Drug Administration (USFDA) to market Adapalene and Benzoyl Peroxide Gel 0.3 per cent/2.5 per cent, Zydus Cadila said in a statement. The drug will be manufactured at the group's topical plant at Ahmedabad, it added. Adapalene and Benzoyl Peroxide combination is used to treat acne. It works by killing the bacteria that cause acne and by keeping the skin pores clean, Zydus Cadila said. The group now has 323 approvals and has so far filed over 400 abbreviated new drug applications (ANDAs) since the commencement of its filing process, it added. Shares of Cadila Healthcare, the listed entity of the group, were trading at Rs 550.55 per scrip on BSE, up 0.18 per cent from their previous close.

Pfizer to sell Upjohn business to Mylan Pharma for Rs 180.48 crore

The transaction in India will be closed upon receipt of regulatory approvals, Pfizer Ltd said

AstraZeneca Pharma India gets nod to import, market Selumetinib capsules

Drug firm AstraZeneca Pharma India on Sunday said it has received import and market permission from the Indian drug regulator for Selumetinib capsules. The company has received the import and market permission in Form CT-20 from the Drugs Controller General of India for Selumetinib 10 mg & 25 mg capsules, AstraZeneca Pharma India said in a regulatory filing. The receipt of this permission paves way for the launch of Selumetinib 10 mg & 25 mg capsules in India, subject to the receipt of related statutory approvals and licenses, it added. Selumetinib 10 mg & 25 mg capsules are indicated for treatment of pediatric patients 3 years of age and older with neurofibromatosis type 1 and who have symptomatic, inoperable plexiform neurofibromas, it added.

Sanofi India reports second quarter net profit at Rs 178.3 crore

Revenue from operations of the company stood at Rs 789.1 crore for the quarter under consideration