Drug Maker

Activist investor Starboard Value takes $1 billion stake in Pfizer

Starboard has also approached Ian Read, a former Pfizer CEO, and Frank D'Amelio, who served as CFO until 2021, and both have expressed interest in helping the activist investor

Lupin, Eugia recall products from US over manufacturing issues: USFDA

Drugmaker Lupin and a unit of Aurobindo Pharma are recalling products from the American market due to manufacturing issues, according to the US health regulator. As per the latest Enforcement Report issued by the US Food and Drug Administration (USFDA), a US-based unit of Lupin is recalling a medication used to treat bacterial infections. Baltimore-based Lupin Pharmaceuticals Inc is recalling 3,552 bottles of Cefixime for Oral Suspension (USP 200 mg/5 mL) due to "failed content uniformity specifications". The affected lot has been produced at the company's Mandideep-based manufacturing plant in Madhya Pradesh. The company commenced the Class II nationwide (US) recall on May 30 this year. The US health regulator stated that New Jersey-based Eugia US LLC, a subsidiary of Aurobindo Pharma, is recalling 70,125 vials of Dexamethasone Sodium Phosphate injection USP. The company is recalling the affected lot due to "failed impurities/degradation specifications", USFDA said. Eugia com

Bristol Myers Squibb opens innovation hub worth $100 million in Hyderabad

"The state-of-the-art site will expand the company's global drug development and IT & digital capabilities and is expected to be home to over 1,500 employees," the company said in its release

1 drug sample spurious and nearly 48 substandard in June inspection

Eye-drops made by Indiana Ophthalmics in Gujarat that have been under the scanner also feature in the list

Wockhardt, directors settle case with Sebi, pays Rs 76 lakh for settlement

Drug maker Wockhardt and its three directors on Monday settled with Sebi a case pertaining to alleged non-disclosure of adverse observations made by the USFDA about the company's manufacturing facility to the exchanges in 2013. The entities together paid Rs 76.68 lakh towards settlement charges. While Wockhardt paid Rs 36.70 lakh, its three directors -- Habil Khorakiwala, Murtaza Khorakiwala and Huzaifa Khorakiwala -- paid Rs 13.32 lakh each towards the settlement fee to the capital markets regulator, according to a Sebi order. They had proposed to settle the pending proceedings, without admitting or denying the findings of fact and conclusions of law, through a settlement order, as per Sebi. It was alleged that they had violated the Securities Contracts (Regulation) Act (SCRA) and insider trading rules. Khorakiwalas' are also the promoter and promoter group of Wockhardt. In a show cause notice issued in September 2022, Sebi alleged that Wockhardt had failed to enforce the code o

Centre, probe agencies not going for big fish of global drug syndicates: SC

The Supreme Court Friday said the Centre and investigating agencies are not arresting big fish who are members of international drug syndicates but catching small fish like agriculturists and someone standing at a bus stand in NDPS cases. The remarks of the top court came on a bail plea of an accused who was arrested after opium was found in his fields and has served more than five years in jail. A bench of Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala said, "We must say that the Government of India and the investigating agencies are not arresting big fish. Why don't you go after international drug syndicates? Try to catch them. You are only catching small fish like agriculturists, someone standing at bus stand or other places." The top court was hearing the bail plea of Sabir who was booked under the Narcotic Drugs and Psychotropic Substances (NDPS) Act after opium of commercial quantity was recovered by the police from his agriculture lands. Additiona

Drug marker Lupin reports 72% decline in Q3 net profit to Rs 153 cr

Drug maker Lupin has reported 72 per cent decline in consolidated net profit at Rs 153 crore for the third quarter ended December 31, 2022. The company had reported a net profit of Rs 545 crore for October-December period last fiscal. Total revenue from operations however increased to Rs 4,322 crore as compared with Rs 4,161 crore in the year-ago period, the company said in a statement. "Sales in the US have improved on the back of new product launches and the brand acquisition we made during the quarter. Excluding the impact of genericization on our diabetes portfolio, the India business has performed in line with the market," Lupin's Managing Director Nilesh Gupta stated. With the recent sales force expansion and new product launches, the company expects to be back to above-market growth, he added. Shares of the company were trading 3.74 per cent down at Rs 745.10 apiece on the BSE.

Cipla launches diagnostic device, says it will provide results in minutes

Cippoint offers parameters to test for cardiac markers, diabetes, infectious diseases, fertility

Price war begins for Novartis cardiac drug as JB Pharma cuts rate by 50%

Novartis' blockbuster drug is set to lose patent in Jan; JB Pharma, one of the four marketers in India of generi versions, has slashed the price of its brand Azmarda to Rs 39.6 a tablet

World's most expensive drug approved to treat hemophilia at $3.5 mn a dose

CSL Behring's Hemgenix, administered just once, cut the number of bleeding events expected over the course of a year by 54%, a key study of the therapy found

DTAB to review 19 fixed-dose combinations drugs, codeine formulations today

CDSCO aims to phase out these combinations and codeine-based drugs in a phased manner

Drug firm Granules India Q1 consolidated net profit up 8% to Rs 120 cr

Drug firm Granules India on Tuesday reported an 8 per cent rise in its consolidated net profit to Rs 120 crore for the quarter ended June 30, 2021.

Spiralling demand, leakages and a flourishing black market for remdesivir

Artificial shortages and brazen hawking of the drug on the streets at 15x the normal price rule the day as the official machinery tries desparately to stamp out the parallel market

Pfizer to outsource some drug production, focus on coronavirus vaccine

Pfizer and German partner BioNTech SE (22UAy.F) said on Tuesday they have begun delivering doses of their coronavirus vaccine candidates for initial human testing in the United States.

J&J asked to pay $8 billion over side effects of antipsychotic drug

NEW YORK (Reuters) - Johnson & Johnson must pay $8 billion (6.6 billion pounds) in punitive damages to a man who previously won $680,000 over his claims that it failed to warn that young men using its antipsychotic drug Risperdal could grow breasts, a Philadelphia jury said on Tuesday.

Sunset for public sector drug makers

Of the five units it owns, New Delhi wants to close two and sell another two

Regulators step up scrutiny of drug makers

About a third of all generic drugs consumed in the US are made in India, invoking greater scrutiny of plants in the country