Pharmaceutical Industry News

Sources said the industry has also witnessed a reduction in inventories since May-end, as distributors and retailers tried to minimise losses due to change in tax structure.

Facebook will host a summit in June that is dedicated to health and aims to sell ads to the pharmaceutical industry, a media report said.

The Indian pharmaceutical companies exhibit strong business profiles underpinned by good products and geographic diversity as compared to some global peers, American rating agency Moody`s said on Friday.

The government has given a final chance to pharmaceutical companies to register themselves with pharma data bank by December 15 and said failure to do so will invite penal action.

Can you unboil an egg? Well, Australian researcher Colin Raston can just do that! And for undertaking such an unusual and imaginative research, he just won the Ig Nobel.

"In 2015-16, the company remains committed to continuing to strengthen its branded portfolio with the launch of additional products by not only creating alliances but also developing its own pipeline and making strategic brand acquisitions in US markets," Lupin said in its annual report here.

The company is also looking to export another nutritional product, Thrive, a natural supplement that helps fight chronic metabolic disorders, he added. It is looking at strong prescription base in over 70 countries by March 2017.

This upgradation by the USFDA from Official Action Indicated (OAI) to VAI is "indicative of the current good manufacturing practice (cGMP) status at the facility" since receiving the warning letter in 2013, the drug maker added.

"The board of the company has not received any notice from the promoters of the company, Novartis AG, on its intention to delist the equity shares of the company from the Bombay Stock Exchange Limited," Novartis India said in a statement after trading hours.

The buoyant pharmaceutical industry is still struggling to deal with the challenges around pricing in the domestic market, increased regulations as well as data integrity, says an EY survey.

The stock plunged 11 percent to Rs 869.50 on the BSE. At the NSE, it dipped 10 percent to Rs 869.10.

For the year ended March 31, the company posted a net loss of Rs 20.83 crore, while it had reported a net loss of Rs 50.89 lakh during the previous year.

Strides Arcolab shares were trading 0.60 percent down at Rs 1,180.80 per scrip during afternoon session on the BSE.

Ranbaxy Laboratories, recently acquired by Sunpharma, has been sued in the US District Court in Massachusetts for allegedly manipulating USFDA rules.

Cadila Healthcare stock was trading at Rs 1,710.90, up 3.18%, on BSE.

Sebi has opined that the agreement would qualify for exemption from open offer requirement under takeover norms.

The US health regulator said it is looking to increase training and joint inspections in various areas, including manufacturing while also discussing possibility of information sharing with Indian officials.

The pharmaceutical industry continues to benefit from lower cost of research and production which aids manufacturing for exports, the report said.

The Reserve Bank on Monday notified the changes in the FDI policy allowing 100 percent foreign direct investment in medical devices segment.

Government must put a blanket ban on FDI in brown field pharma units, a Parliamentary panel Monday said asserting that under existing policy domestic firms faced 'decimation' due to takeover by MNCs and it could affect India's ability to produce low-cost quality generic drugs.