Pharmaceutical Sector

Lupin to set up two new R&D centres in US

Lupin to set up two new R&D centres in USMumbai - Pharma major Lupin said it is in the process of setting up two new R&D centres in the US, focusing on research in inhalation and on complex formulations.

"In keeping with our global strategy of building a highly differentiated generic and speciality business, the company is in the process to setting up two dedicated Centres of Excellence for research in inhalation and complex injectables in Florida and Maryland in the US," Lupin chairman Desh Bandhu Gupta said in its annual report.

Cipla inks pact to acquire 51% stake in Yemeni firm

CiplaNew Delhi: Continuing its overseas acquisitions, pharma major Cipla has inked a pact with a Yemeni firm to acquire its majority stake for USD 21 million (over Rs 125 crore).

The company has signed a definitive agreement to acquire a 51 percent stake in a pharmaceuticals manufacturing and distribution business in Yemen, it added.

"The company will pay USD 21 million for this transaction, with additional considerations to be paid over the next 3 years on achievement of agreed milestones," Cipla said.

US pharma companies want dialogue with India on IPRs

American Pharma CompaniesBoston - Top executives of American pharma companies favour "dialogue" with India and "not confrontation" to address their concerns on key issues like the protection of intellectual property (IP) and clinical trials.

Arguing that global pharma companies share the same goal of "patient first" with that of the Government of India, corporate executives attending the day-long "US-India BioPharma and Healthcare Summit" organised by the USA-India Chamber of Commerce said they should not be considered as adversaries by New Delhi.

Dr Reddy's launches generic Paricalcitol capsules in US market

Dr Reddy'sNew Delhi - Drug firm Dr Reddy's Laboratories has launched generic Paricalcitol capsules used for treating secondary hyperparathyroidism associated with chronic kidney disease in the American market, following approval by the US health regulator.

The company has launched paricalcitol capsules in the US market in the strengths of 1 mcg, 2 mcg and 4 mcg on June 24 after getting approval from the United States Food and Drug Administration (USFDA), Dr Reddy's said in a statement.

The product is generic version of AbbVie Inc's Zemplar capsules, it added.

Dr Reddy's recalls over 13,000 bottles of hypertension drug: FDA

Dr-ReddysDr Reddy`s Laboratories Ltd is recalling 13,560 bottles of the high blood pressure drug metoprolol succinate in the United States after it failed a dissolution test, the U. S. Food and Drug Administration said.

Metoprolol succinate extended release is a cheaper generic form of AstraZeneca Plc`s Toprol XL. Wockhardt Ltd also recalled 109,744 bottles of the same drug last month citing the same reason.

The recall was voluntarily started by Dr Reddy`s on May 23, 2014, and posted on the FDA website on Thursday.

A Dr Reddy`s spokesman did not immediately respond to a request for comment on the recall.

Lupin launches generic Ciprofloxacin in US market

Lupin-pharmaNew Delhi: Drug firm Lupin Ltd has launched its generic Ciprofloxacin, used for treating bacterial infections, in the American market and is expecting 180 days of market exclusivity.

The company's US subsidiary, Lupin Pharmaceuticals Inc (LPI) has launched its Ciprofloxacin for oral suspension in the US market in the strengths of 5 g/100 mL (250mg/5 mL) and 10 g/100 mL (500 mg/5 mL), Lupin said in a statement.

The company had earlier received final approval for the product from the United States Food and Drug Administration (USFDA), it added.

EU lifts drug export ban from Ranbaxy's Toansa plant

Ranbaxy-Toansa-plantNew Delhi: European health regulator on Thursday lifted suspension imposed on export of drugs produced at Ranbaxy's Toansa plant to the EU stating medicines produced at the site posed no risk to public health despite having a number of manufacturing deficiencies.

In a statement, the European Medicines Agency (EMA) said European regulatory authorities have finalised their assessment of reported non-compliance with Good Manufacturing Practice (GMP) at the Toansa plant.

Wockhardt recalls 8,712 bottles of hypertension drug in US market

Wockhardt recalls 8,712 bottles of hypertension drug in US marketNew Delhi: Drug major Wockhardt is recalling over 8,000 bottles of anti-hypertension drug Metoprolol Succinate extended-release tablets in the US market following failure of a dissolution test.

According to US Food and Drug Administration (USFDA), Wockhardt USA Inc, a subsidiary of Mumbai-based firm is voluntarily recalling 8,712 bottles of the drug in the American market.

The recall is due to the "failure of dissolution test observed at three month time point", USFDA said.

FDA approves many drugs that up heart and stroke risk

FDAWashington, May 28 : US Food and Drug Administration (FDA) is under fire after it approved many drugs that predictably increase heart and stroke risk.

The editorial by Robert P. Blankfield, MD, MS, a clinical professor of family medicine, notes that several medications survived FDA scrutiny, only to be pulled from the market after reports of increased heart attacks and strokes related to use of the drugs.

$147-million IFC loan to Jubilant Pharma

jubilant-life-sciencesBangalore, May 26 : The International Finance Corporation (IFC) of the World Bank is lending $147.5 million (Rs. 863 crore) to Jubilant Pharma, a Singapore-based subsidiary of drug major Jubilant Life Sciences, to ensure access to affordable drugs in underserved markets in India and other countries.

"The loan will help us increase focus on the pharmaceutical sector and strengthen its generic drug manufacturing facilities in India," Jubilant chairman Shyam S. Bhartia said in a statement Monday.

Ranbaxy-Sun Pharma deal: SC calls for ruling in two days

Ranbaxy-Sun-Pharma-DealNew Delhi, May 21 : The Supreme Court Wednesday asked the Andhra Pradesh High Court to decide in two days the issues that have been raised to stall the amalgamation of Ranbaxy Laboratories Limited with Sun Pharmaceutical Industries Limited following a $4 billion takeover deal.

Sun Pharma had bought the stakes of Ranbaxy Laboratories from Japan's Daiichi Sankyo Co. in a $3.2 billion deal and $800 million of debts liability.

Police complete probe into GSK bribery in China

GlaxoSmithKlineBeijing, May 14 : The probe into bribery by GlaxoSmithKline (GSK) in China is complete and the case has been handed over to prosecutors, police said Wednesday.

Prosecutors have started their examination of the case that involves 46 suspects, including British national Mark Reilly, manager of GSK China, Xinhua reported.

After 10 months of investigation, police found that Reilly had ordered his subordinates to offer bribes.

Reilly allegedly pressed his sales teams to bribe hospitals, doctors, other medical institutions and organisations through various means and gained illegal revenue worth billions.

Cipla invests $21 mn in Chase to develop Alzheimer's drug

Cipla invests $21 mn in Chase to develop Alzheimer's drugMumbai, May 12 : Healthcare company Cipla Monday said it has invested $21 million in US-based Chase Pharmaceuticals Corporation Inc through its wholly owned subsidiary, Britain-based Cipla (EU) Limited, to develop a drug for Alzheimer's disease.

Based in Washington, Chase is an early stage drug development company focused on developing novel approaches to improve treatments for Alzheimer's disease. It has a unique patented approach and is focused on improving the efficacy, safety and tolerability of existing Alzheimer medications.

India can be leader in supplying medicines: Cipla chairman

Yusuf-HamiedNew Delhi, May 3 : India can be a global leader in supplying affordable and high quality medicines to the world, and especially to the underdeveloped countries where such medicines do not reach the poor because of their high cost and the monopoly of foreign manufacturers, said a leading entrepreneur.

"India has emerged as the pharmacy of the world," said Yousuf Hamied, chairman of pharmaceutical giant Cipla.

GSK nears deadline on Currabinny plant in Cork

GSK nears deadline on Currabinny plant in CorkPharmaceutical major, GlaxosmithKline is nearing a deadline set by the US Food and Drug Administration to ensure the regulator on quality standards at its Currabinny plant in Cork.

The regulator had set the deadline for the company to explain how it intends to comply with the rules set by the authorities. The recent letter issued by the US regulator was a setback for the company's reputation as the company focuses greatly on its supply chain and establishments linked to its global network.

Ranbaxy shareholders should hold onto their investments: Angel Broking

ranbaxyRanbaxy shareholders should keep on holding onto their investments as the combination of synergies and positives emanating from the company's merger deal with Sun Pharmaceutical Industries Ltd would likely benefit them, analysts suggest.

Mumbai-based Sun Pharma on Monday announced that it would acquire Ranbaxy Laboratories Ltd for $4-billion (nearly Rs 24,000 crore) all stock deal. The transaction has equity value of $ 3.2 billion (nearly Rs 19,200 crore), while the remaining is Ranbaxy's debt that would be assumed by the new company. Ranbaxy shareholders will get 0.8 of a Sun Pharma share for each Ranbaxy share they own.

Sun Pharma to acquire Ranbaxy for $3.2 billion

Sun-PharmaIndia's largest drug maker by market value, Sun Pharmaceutical Industries has indicated that it is planning to buy Ranbaxy Laboratories in a deal valued at $3.2 billion in stock.

The acquisition will be the biggest by any Indian company in two years. Under the terms of the deal, Ranbaxy investors will get 0.8 share in Sun for every one share in Ranbaxy, the two pharmaceutical giants said in a statement. The deal values the shares at about 457 rupees a share, or about 24 percent higher than the 60-day average.

India to open warehouse in Nigeria for medicine export

India to open warehouse in Nigeria for medicine exportAccra, April 2 - In what is expected to give a major boost to the presence of Indian pharmaceutical companies in Africa, a new warehousing facility will be opened in Nigeria for exporting medicines from India to that West African country.

The Pharmaceutical Export Promotion Council of India (Pharmexcil), in accociation with with Sankil Pharmaceutical, a local pharmacutical business agency in Nigeria, will open the new warehouse, according to statement issued by Pharmexcil.

Value of biotech firms being driven by new drugs

Value of biotech firms being driven by new drugsThe point when San Diego-based Celladon held its first sale of stock at the end of January it joined a climbing number of life sciences organizations opening up to the world.

Celladon is a biotechnology organization attempting to create "novel helps that may change the lives of patients in various sicknesses with colossal unmet therapeutic needs."

Central acquisition boosted wholesale business, says Sigma

Central acquisition boosted wholesale business, says SigmaSigma Pharmaceuticals has said that that the acquisition of Central Healthcare has helped expand its wholesale business.

The acquisition of Central Healthcare has helped the company consolidate its position in the market head of Symbion and Australian Pharmaceutical Industries. Mark Hooper, the Chief Executive officer of Sigma Pharmaceuticals has said that the company has spent $24.5 million to acquire the company. He pointed out that the takeover allowed that company to increase its distribution volume and increase its Sigma.




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