Page 2 - Pharma Industry

Medi Assist to fully acquire Paramount Health in a deal worth Rs 400 cr

Medi Assist Healthcare Services, which offers third-party administration services to insurance firms, on Monday said it will fully acquire Paramount Health Services & Insurance TPA in a deal valued at over Rs 400 crore. Medi Assist Insurance TPA, a wholly-owned subsidiary of Medi Assist Healthcare Services, has inked a pact with Fairfax Asia and Nayan Shah & family to acquire Mumbai-based Paramount Health Services & Insurance TPA. Paramount is a prominent player in the TPA space, owned by Fairfax Asia and the Shah family. With the acquisition of Paramount TPA, Medi Assist TPA's market share will grow to 36.6 per cent for the group segment and 23.6 per cent of the health insurance industry, by premiums managed, the company said. The deal was concluded at an enterprise value of about Rs 311 crore, and around Rs 110 crore of cash equivalents will be paid as part of the acquisition, it added. The acquisition represents one of the largest TPA deals in India, subject to ...

Shilpa Medicare hits fresh high on successful trial of liver fibrosis drug

Shares of Shilpa Medicare were trading at Rs 733.15, up by nearly Rs 36, or 5.15 per cent on the BSE. In contrast, the 30-stock BSE Sensex was trading at 81,714 levels, up 0.77 per cent.

Glenmark Pharma Q1 results: Profit increases to Rs 462 cr on strong demand

The drugmaker reported consolidated profit before exceptional items and taxes of Rs 462 crore ($55 million) for the quarter ended June 30, from Rs 203 crore a year ago

Reading the vital signs: Pharma sector, the market's trusted antidote

The pharma index was the only healthy pulse amid Friday's market declines

Thyrocare expands Northern India presence with Polo Labs acquisition

This move will lead to Thyrocare integrating Polo Labs' 14 laboratories spread across Punjab, Haryana, and Himachal Pradesh into its existing network

Mankind Pharma frontrunner to acquire Bharat Serums in $1.5 bn deal

Mankind Pharma rose as much as 1.2 per cent following Thursday's Bloomberg News report. The shares are up about 6.5 per cent this year and 10 per cent in the past 12 months

US Biosecure Act spells long-term boost for Indian CDMO, CRO firms

As American biopharma looks to diversify sourcing, Indian companies stand to benefit

Pharma companies on track with QR codes to combat counterfeit drugs

Firms term DCGI move 'positive' as it aims at ensuring patient safety

Mankind Pharma and EQT compete to acquire BSV Group for Rs 14,000 crore

Advent International, the private equity firm currently owning BSV, appointed JP Morgan and Jefferies to facilitate the sale of the biopharma firm

Zensar acquires BridgeView to expand into biopharma, life sciences industry

The acquisition is expected to be completed tentatively within 2-3 weeks

Pharma and healthcare sector seals $4.1 bn deals in Q2 2024: Report

The average deal size also saw a jump, rising from $9.7 million in Q1 calendar year 2024 to $74 million in Q2 2024

Veerhealth Care expects Rs 100 crore revenue in upcoming 2-3 years

Veerhealth Care on Monday said it is expecting to reach revenue of Rs 100 crore in the next 2 to 3 years. In a statement, the company said it has executed and delivered an export order valued at USD 50,000 (about Rs 41.50 lakh). Additionally, another export order valued at USD 197,793 (approximately Rs 165 lakh) is scheduled to be fully executed and delivered by the end of July. According to the statement, the company has also received an additional export order worth USD 106,673 (about Rs 89 lakh) from top US Institutional Supplier. The order will be executed within three months, as stipulated by the terms of the purchase agreement. Further, it stated that it is expecting monthly repeat orders from the same top US Institutional Supplier. In addition to this, the company said it is renovating its existing plant in Vapi, Gujarat, to set up a bigger plant which will be US FDA & WHO-compliant. In February 2024, the company has announced its expansion plans with a proposed investmen

Budget wish list: Pharma industry seeks tax benefits, effective IPR regime

There is a need to incentivise R&D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies. Outlining the sector's wish list for the upcoming Union Budget, Organisation of Pharmaceutical Producers of India (OPPI) Director General Anil Matai urged the government to explore methods to incentivise R&D investments, such as deductions on R&D expenses, research-linked incentives for MNCs, and corporate tax concessions. The initiatives will help in accelerating R&D and innovation in the sector, he added. "Recognising the high-risk, long-gestation nature of R&D, we suggest extending the scope of section 115BAB of the Income Tax Act, 1961 to companies solely engaged in pharmaceutical research and development and providing a 200 per cent deduction rate on R&D expenditures," Matai said. This would significantly boost the sector's .

Indian pharmaceutical market registers over 8% growth in June 2024

GSK's antibiotic drug Augmentin and USV's anti-diabetic drug Glycomet GP continued to be the top-selling medicine brands with sales of Rs 76 crore and Rs 66 crore, respectively

Govt panel urges drug regulator to approve Lilly's obesity drug Mounjaro

Lilly should also submit the required manufacturing and controls data, the expert panel added

Sun Pharma completes Taro merger, acquires all outstanding shares

New York headquartered Taro has operations in the US, Canada, Israel, and Japan with manufacturing facilities in Canada (Brampton) and Israel (Haifa)

Domestic drugs formulations market to be worth Rs 5.5 trn by 2034: Report

'Significant under-penetration' in domestic market, especially in smaller towns and rural areas

Pharma's eco pill: Sustainable packaging as new prescription for planet

Merck also revealed that they are investing in renewable energy sources, and half of their Mumbai facility's energy is now sourced from solar panels

Weather changes drove Indian pharma market growth to 5.2% in May

Anti-infectives, respiratory therapy areas clock double-digit value growth

Dozens of CVS drug recalls expose link to tainted factories in China, India

The drugs were among those sold by CVS Health Corp., the largest US pharmacy, under its store-brand label before being recalled