Pharmaceutical Industries News

Mumbai-based Lupin Pharmaceuticals is India`s most reputed pharmaceutical brand, said a report by Bluebytes, a leading media-analytics company on Wednesday.

Prices of 42 essential medicines used in treatment of various ailments including tuberculosis, cancer, cardiac diseases, asthma, epilepsy, rheumatoid arthritis and depression have been capped by the government, reducing their cost by up to 15 percent.

The government today allowed up to 74 percent foreign direct investment in the existing pharmaceutical companies through automatic route, with an aim to promote the sector.

Seeking a five-year exemption from drug price control, Biocon CMD Kiran Mazumdar-Shaw Wednesday asked the government to refrain from 'ad hoc' measures so as to enable the pharma sector to build scale to be globally competitive.

Pharma majors Abbott Healthcare and Macleods Pharmaceuticals Tuesday got interim relief from the Delhi High Court which stayed till March 21 Government's decision banning sale of certain combination medicines of the two companies.

Pharmaceutical firm Cipla Ltd Wednesday reported 4.68 percent increase in its consolidated net profit at Rs 343.20 crore in the third quarter ended December 2015.

The government's move to withdraw customs duty exemption on imports of around 74 drugs would help in local production of bulk drugs and thereby create demand for the local production but it may also lead to rise in prices for these medicines.

India is nudging various semi-regulated markets like Myanmar and Kenya to accept its drug standards, instead of the US or British norms, a move aimed at helping many Indian drug makers to save cost on upgrading to international standards.

Dr Reddy's Laboratories Ltd (DRL) Thursday said the USFDA has extended the time-frame for replying to the warning letter issued to the company by about two weeks to December 7.

Aided by good sales growth coupled with new product launches, drug major Dr Reddy's Laboratories Thursday reported a 25.74 percent jump in consolidated net profit at Rs 721.89 crore for the second quarter ended September 30.

Sandoz, the generic drug arm of Swiss drug major Novartis, has received a warning letter from the US health regulator for violations of current good manufacturing practice (cGMP) norms at its two plants in Western India.

Drug major Lupin Monday appointed Martin Mercer as President of its Latin American business with immediate effect.

Pharmaceutical major Cipla's shares dropped by 2.13 percent Tuesday amid speculation that the company's Indore plant has come under the scanner of US health regulator for manufacturing norms violations.

The government is likely to commission a study soon to assess the impact of foreign direct investment in existing pharmaceutical companies in view of concerns expressed on the issue by a Parliamentary panel.

Drug major Sun Pharmaceutical Industries has made a tender offer to acquire US-based eyecare firm InSite Vision for USD 0.35 per share in cash.

Glenmark Pharmaceuticals Tuesday said it is looking at strong growth in the US market and developing a pipeline of innovative products to offset weakness in emerging markets.

Government Tuesday assured the pharma industry of "every possible help" in resolving its issues related to exports and said efforts would be made to expedite work on different proposals to realise the full potential of the sector.

Expressing disappointment and concern over the EU banning sale of around 700 pharma products clinically tested by GVK Biosciences, India has deferred the talks with the European Union on the proposed free trade agreement.

Leading laboratory network SRL Diagnostics is planning to invest around Rs 100 crore to add 100 labs across the country by the end of 2016 as part of its expansion plan.

London-listed pharmaceuticals firm Hikma on Tuesday bought US generic drugs company Roxane from German peer Boehringer Ingelheim for $2.65 billion (2.40 billion euros) in the sector`s latest rapid round of consolidation.