JSW Energy on Friday said its arm JSW Neo Energy has completed the acquisition of 125 MW of renewable energy assets from Hetero Group for an enterprise value of about Rs 630 crore. The 125 MW portfolio comprises wind projects located in Andhra Pradesh and Maharashtra and have long term power purchase agreements, a regulatory filing said. According to the filing, JSW Neo Energy Ltd (JSW Neo), a wholly-owned subsidiary of JSW Energy, has completed the acquisition of 125 MW of renewable energy assets from Hetero Labs Ltd and Hetero Drugs Ltd housed under three Special Purpose Vehicles (SPVs). The portfolio has a blended tariff of Rs 5.22/KWh and an average remaining plant life of 15 years. The total locked-in capacity of the company stands at 24.7 GW which consists of a diverse fuel mix and offtakers. The transaction values the Hetero's portfolio at an enterprise valuation of approximately Rs 630 crore, excluding net current assets and other adjustments under SPAs (Share Purchase ...
Drug maker Hetero Group will be investing Rs 1,000 crore to expand its pharmaceutical and specialist business in Andhra Pradesh, its Managaing Director Vamsi Krishna Bandi said on Saturday. Speaking at Global Investors Summit 2023 here, he said post-Covid pandemic, more countries are looking at India as a partner of choice in pharmaceutical sector, and Andhra Pradesh is ideally placed to take advantage because of a well-established ecosystem. "We are committed to Andhra Pradesh and will continue to expand our presence here. We'll be investing about Rs 1,000 crore in Andhra Pradesh over the next two years to grow our pharmaceutical and specialty business. This will generate an employment of a minimum of 3,000 people," he said. Bandi further said the USD 2.5 billion pharma group employs over 10,000 people directly and indirectly in Andhra Pradesh, and supplies about 40 per cent of global HIV medicines that are manufactured in the state.
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Generic version of Pfizer's Covid antiviral treatment would be exported for $70
Hetero, a city-based leading pharmaceutical company on Monday announced the receipt of World Health Organisation Prequalification of Medicines Programme (WHO PQ) approval for its generic version of COVID-19 oral anti-viral treatment candidate Nirmatrelvir. A press release from the drug maker said it is the first prequalification for a generic version of Pfizer's COVID-19 oral anti-viral drug 'Paxlovid,' which the WHO called, the best therapeutic choice for high-risk patients to date. WHO made a strong recommendation for Nirmatrelvir and Ritonavir for mild and moderate COVID-19 patients at highest risk of hospital admission, such as unvaccinated, aged or immunosuppressed patients, it said. The combi pack, launched by Hetero as Nirmacom, will contain Nirmatrelvir 150 mg (2 tablets) and Ritonavir 100mg (1 tablet). It is available by prescription only and should be initiated as soon as possible after diagnosis of COVID-19 and within five days of symptom onset. Nirmacom will be ...
Pharmaceuticals firm Hetero on Monday said it has acquired the manufacturing plant of Johnson & Johnson at Penjerla in Telangana and will invest additional Rs 600 crore on its upgradation. According to sources, the company has acquired the plant for Rs 130 crore. The facility is spread across 55.27 acres and will be Hetero's flagship sterile pharmaceutical and biologics manufacturing unit and will generate 2,000 new jobs, the company said in a statement. "We are committed to an investment upwards of USD 75 million, (approximately Rs 600 crore) to upgrade and enhance existing facilities at the site and expand manufacturing of our global biologics and sterile pharmaceutical products," Hetero Managing Director Vamsi Krishna Bandi said. Hetero said the brownfield manufacturing facility together with land, plant and machinery has been acquired from Johnson & Johnson Pvt Ltd in a slump sale without disclosing the financial details. PwC acted as the exclusive financial advisor to the
Drug firm Hetero on Monday said its biologics arm has received approval from the Central Drugs Standard Control Organisation (CDSCO) to manufacture and sell Sputnik Light for restricted emergency use in India. Hetero is the first biopharmaceutical company in India to receive Manufacturing and Marketing (M&M) approval for the product manufactured locally for the prevention of COVID-19 in adults aged over 18 years, administered in a single dose of 0.5 ml, the company said in a statement. All other currently approved vaccines in India require two doses of administration, it added. Sputnik Light is the first component (recombinant human adenovirus serotype number 26 (rAd26)) of Sputnik V the world's first registered vaccine against COVID-19. In February 2022, the Drugs Controller General of India (DCGI) granted emergency use permission to single-dose Sputnik Light COVID-19 vaccine in India. "Clinical data of Sputnik Light (Component I of Sputnik V) had shown significantly high titers
Hetero entered into a non-exclusive voluntary licensing agreement with MSD in April 2021 for the manufacturing and distribution of Molnupiravir for the treatment of Covid
This is the first generic version of Roche's Actemra
Hetero, a globally renowned vertically integrated pharmaceutical organization, on Monday announced that the DCGI has issued EUA for the generic version of Tocilizumab in India
Clinical trial shows molnupiravir helps in early recovery in non-hospitalised Covid-19 patients
Some patients in Raigad district of Maharashtra developed side effects like fever and chills
Stelis will commence supplies from September quarter of 2021 and will also continue to work with RDIF to provide additional supply volumes beyond the initial agreement
Drug firm Hetero on Friday said it has launched a pack of its generic oral antiviral drug-- Favivir 800/200-- for the treatment of mild-to-moderate symptomatic COVID-19 patients in India.
Will sell its oral anitiviral for Rs 59 a pill, Cipla and DRL to launch soon
It improves treatment accessibility to a significant amount of Covid-19 patient population, which have mild to moderate symptoms,Hetero said
The drug needs to be administered intravenously in a hospital, critical care setting, under the supervision of a registered medical practitioner
Some firms are now considering starting their own distribution centres in major cities
Sources say Cipla-BDR's favipiravir will be at least 30 per cent cheaper than Glenmark's price of Rs 103 per tablet. Cipla did not confirm.
A senior government official said it is in wait-and-watch mode and has not decided to take any suo motu action on the pricing of the drug