Generic drugs News

Days after PM Modi's announcement, the Medical Council of India (MCI) had directed all the hospitals, doctors and state medical council to prescribe generic medicines to patients.

The implication of this directive is huge as India moves to mitigate healthcare costs across the nation.

This move comes few days after Prime Minister Narendra Modi urged at bringing a legal framework under which generic medicines should be given by the doctors and the healthcare system in India should have an extensive reach so that drugs are made available to all the people.

A generic drug is a pharmaceutical drug that is equivalent to a brand-name product in dosage, strength, safety, route of administration, quality, performance, intended use and risks.

We will bring in a legal framework by which if a doctor writes a prescription, he has to write in it that it will be enough for patients to buy generic medicine and he need not buy any other medicine, he said.

Germany has suspended marketing of 54 drugs tested by GVK Biosciences in compliance with the European Union's ban on around 700 generic drugs.

European Union nations have until August 20 to suspend the sale of some 700 generic drugs made in India, the EU`s executive confirmed on Monday.

India's business loss arising from the European Union's ban on 700 generic drugs is likely to be around USD 1.2 billion, says industry body Pharmexcil.

Generic drugmakers Lupin Ltd and Cipla Ltdare among the companies bidding for top Belgian drugmaker UCB SA`s U.S. generic drugs business, a leading dailey reported on Monday, citing unnamed people with knowledge of the matter.

Endo International will buy Par Pharmaceutical Holdings in a $8.05 billion deal that will strengthen Endo`s generic drugs business, the companies said Monday.

The privately-held company, part of India`s infrastructure builder GVK Group, conducts clinical research for domestic and foreign drugmakers.

Swiss pharmaceuticals giant Novartis said Tuesday strong sales of new products helped push its net profit up 12 percent last year despite harsh competition from cheaper copycat generic drugs.

Pharmaceutical research company GVK Biosciences has offered to re-do studies at its own cost after the European Union suspended marketing approval of some generic drugs due to alleged manipulation of data related to clinical trials.

All of the drugs being suspended, several of which are manufactured by Mylan Inc and Abbott , have brand name equivalents that can be used instead, so patients will not have to interrupt their treatment.

Drug firm Ranbaxy Laboratories on Wednesday said the DC Federal Court in the US has not granted the company temporary restraining order to block the US health regulator from approving other ANDAs for generic versions of digestive disorder medicine Nexium and anti-viral Valcyte.

A US court has denied a request by drugmaker Ranbaxy Laboratories Ltd to stop competitors from launching copies of AstraZeneca Plc`s heartburn pill Nexium and Roche`s antiviral, a court filing showed.

A US court has denied a request by drugmaker Ranbaxy Laboratories Ltd to stop competitors from launching copies of AstraZeneca Plc`s heartburn pill Nexium and Roche`s antiviral Valcyte.

Leading Indian generic drugmakers Dr Reddy`s Laboratories Ltd and Glenmark Pharmaceuticals Ltd this month posted a drop in their second-quarter US sales

The company had earlier received final approval for the product from the USFDA.