Pharmaceutical Sector

India’s pharma sector receives $1.26bn in FDI in first 9 months of current fiscal

pharma-sectorForeign direct investment (FDI) in India's pharma sector more than doubled during the April-December period of financial year of 2013-14, while overall FDI into the country slipped 2 per cent during the same 9-month period, as per the latest stats released by the Department of Industrial Policy & Promotion (DIPP).

Newly released data showed that FDI in pharma sector jumped to USD 1.26 billion during the April-December period of FY2013-14, while overall FDI slipped to USD 16.56 billion.

Chimerix stock at all-time high

Chimerix stock at all-time highThe load of Chimerix hit an unsurpassed high Friday as the Durham drugmaker's trial medication made national news this week and the organization said it might discharge its antiviral medicine to a basically sick first-grader.

The Chimerix solution is still no less than 2-1/2 years far from regard for public utilization, yet that didn't prevent moguls from driving up the organization's imparts by 45 percent this week, to $27.14, on the medication's potential.

Ranbaxy shares fall nearly 4% after U.S. drug recall

RanbaxyStock in pharmaceuticals giant Ranbaxy Laboratories Ltd slipped as much as 3.8 per cent in early morning trade on Monday after the company confirmed that it was recalling nearly 64,000 bottles of the generic version of a cholesterol-lowering medicine in the United States.

Ranbaxy said it was withdrawing 64,626 bottles of Pfizer Inc. Lipitor drug atorvastatin calcium a pharmacist in the United States received a product complaint. The pharmacist received a complaint that a 20 milligram tablet was found in a sealed bottle marked for 10 milligram pills.

Manufacturing process of diabetes pill being revaluated by FDA

Manufacturing process of diabetes pill being revaluated by FDADue to manufacturing shortcomings that were disclosed in the past, US regulators rejected a diabetes pill developed by Eli Lilly and Boehringer Ingelheim. The deficiencies were seen at a German plant and were not dealt with.

The problems were told to the Ingelheim-based company in May 2012 after the Food and Drug Administration inspected Boehringer's Ingelheim Rhein facility. The drug's approval will not need new clinical studies. The drug being discussed is empagliflozin.

Many experts skeptical of AstraZeneca’s delisting plan’s success

AstraZenecaShares of AstraZeneca Pharma India soared 20 per cent to hit the upper circuit on the BSE on Monday after the company announced a proposal to delist its shares from the Indian stock exchanges, but many dealers and traders are skeptical of the proposal's success.

Those who are doubtful of the plan's success are thus advising investors to stay away from the stock because it would hit bottom in a flash in case the proposal is derailed.

Ranbaxy stops API production at two plants

Ranbaxy stops API production at two plantsNew Delhi, Feb 25 : India's largest drug maker Ranbaxy Laboratories Tuesday said it has halted temporarily drug ingredient production at two of its facilities in the country as a "precautionary measure".

The two factories, located in Toansa in Punjab and Dewas in Madhya Pradesh, produce active pharmaceutical ingredients (API), the key components to medicines.

GSK proposal to bring in Rs.6,390 crore FDI cleared

GlaxoSmithKlineNew Delhi, Feb 20 : The Cabinet Committee on Economic Affairs Thursday approved a proposal of GlaxoSmithKline Pte Limited, Singapore, to acquire 24.33 percent in the subsidiary company of the GSK Group in India.

The approval would result in foreign investment of around Rs. 6,390 crore in the country.

The acquisition would be made by way of a voluntary open offer under SEBI (SAST Regulations) in the pharmaceutical sector, said an official release. (IANS)

Ranbaxy to settle with New York attorney general

Ranbaxy to settle with New York attorney generalNew York, Feb 19 - India's Ranbaxy Laboratories and Israel's Teva pharmaceutical Industries are set to settle over allegations that the two rival generic drug makers made an unlawful agreement to restrict competition, according to a media report.

New York Attorney General Eric Schneiderman plans to announce the settlement Wednesday with US units of the two companies, the Wall Street Journal reported saying Schneiderman's office had confirmed the settlement.

Cipla posts nearly 17% fall in Q3 profit; shares fall

Cipla posts nearly 17% fall in Q3 profit; shares fallStock in Cipla Ltd plunged more than 5 per cent in morning trade on Thursday after the drug giant announced that it suffered a decline of 16.5 per cent profit in the three months ended December 31, 2013.

Cipla announced that its net profit slipped to Rs 284.31 crore in thee October-December quarter of current financial year, from Rs 340.31 crore in the corresponding quarter of the previous financial year.

US FDA chief, Anand Sharma discuss quality control violations

Anand-SharmaNew Delhi, Feb 11 : U. S. Food and Drug Administration (FDA) Commissioner Margaret Hamburg Commerce and Industry Minister Anand Sharma here, and the two are reported to have discussed concerns over the rise in sub-standard foods and drugs entering the United States.

Hamburg's visit, planned for February 10-18, comes less than two weeks after the FDA banned products from a fourth facility owned by Indian drugmaker Ranbaxy Laboratories Limited due to manufacturing violations, effectively shutting the company out of the U. S. market for the foreseeable future.

India, US willing to resolve pharma trade issue: Sharma

Anand-SharmaNew Delhi, Feb 10 : India and the US are in talks to create an "institutional mechanism" to address issues related to trade and investments in healthcare and pharmaceuticals sector, Commerce and Industry Minister Anand Sharma said Monday.

Talking to reporters after meeting Commissioner for US Food and Drug Administration (FDA) Margaret Hamburg here, Sharma said both sides recognise importance of the partnership and are willing to address the issue affecting it.

Health groups condemn HC order on breast cancer drug Herceptin

Health groups condemn HC order on breast cancer drug HerceptinPublic health activists have criticized the Delhi High Court's order that banned the sale of bio-similar versions of breast cancer drug Herceptin (Trastuzumab) till next hearing on appeal of Swiss drug maker Roche.

Lupin posts 42% jump in Q3 net; announces acquisition of Nanomi

Lupin LtdIndian drug-maker Lupin Ltd on Monday reported better-than-expected third quarter net profit, and confirmed its latest acquisition - Nanomi B. V., which has patented technologies to develop complex injectable medicines.

The Asian country's No. 2 pharmaceutical firm by market value announced that its net profit grew 42 per cent year-on-year to Rs 4.8 billion in the October-December quarter of 2013. Analysts had projected the company's December quarter net profit at Rs 4.3 billion.

Indian drug regulator to conduct surprise inspections of foreign-owned plants

G N SINGHDrug Controller General of India (DCGI) will soon start conducting surprise inspections of foreign-owned drug plants. The announcement followed the detection of serious quality issues by foreign regulators.

DCGI G. N. Singh, India's top drug regulator, said if foreign regulators could make surprise inspections on Indian pharma companies, then Indian regulator could also conduct inspections on both domestic and foreign drug makers.

AstraZeneca to shut R&D centre in Bangalore

AstraZenecaBangalore, Jan 29 : British pharma major AstraZeneca plc Wednesday announced the closing of its research and development (R&D) centre here but said it will continue manufacturing and marketing operations in India.

"The decision to close Avishkar R&D centre is part of our global business strategy to simplify R&D footprint and focus resources on three core therapy areas of oncology, cardiovascular and metabolic diseases and respiratory, inflammation and auto-immunity," the company said in a statement.

FDA finds too many flies in Ranbaxy’s sample storage room

FDAThe U. S. Food & Drug Administration (FDA) slapped an import ban on Ranbaxy Laboratories Ltd's Toansa plant after it observed several lapses, including too many flies in the sample storage room, the regulator's inspection report states.

According to the report, the FDA found at least eight lapses at the plant that forced the regulator to prevent Ranbaxy drugs from entering the U. S. market. Too many flies and broken and un-closeable equipment and documentation storage cabinets were among the lapses.

Ranbaxy stocks may consume more time to improve: analysts believe

ranbaxyInvestors need to more cautious before increasing their stakes in pharmaceuticals giant Ranbaxy Laboratories Ltd. as the company's stocks may take more time to improve, many analysts suggest.

The woes of Ranbaxy seem to be never ending as the company has frequently been by the U. S. Food & Drug Administration (FDA) with drug imports bans. In the most recent case, the FDA banned the import of certain drugs produced at the company's Toansa, Punjab-based facility, citing manufacturing violations.

Aurobindo Pharma gains on acquisition deal with Activis

Aurobindo Pharma gains on acquisition deal with ActivisIn response to Aurobindo Pharma acquisition deal with Dublin-based Actavis Plc, shares of the Indian pharmaceuticals firm jumped more than 4 per cent to hit a high of Rs 402 apiece on Monday.

Aurobindo announced that it would acquire Actavis' commercial operations in seven western European countries, viz.  Belgium, Italy, France, Spain, Portugal, Germany and the Netherlands.

The transaction will cost Aurobindo _30 million.  The Indian company has plans to fund the acquisition through internal accruals.

Aurobindo to acquire Actavis Plc’s commercial operations in 7 European markets

Aurobindo to acquire Actavis Plc’s commercial operations in 7 European marketsDrug maker Aurobindo Pharma on Saturday confirmed its decision to acquire commercial operations of Dublin-based Actavis Plc in seven western European countries.

The acquisition will cost Aurobindo 30 million euros, and the pharmaceuticals giant has plans to fund the deal through internal accruals.

McKesson Corp still committed to proposed JV with Celesio

McKesson Corp still committed to proposed JV with CelesioMcKesson Corp, whose earlier bid was turned down due to no backing from the shareholders, has said that it will pursue a joint venture with Celesio.

The company launched a bid for the German drug distributor but the bid was not accepted it did not get enough shareholder support.  San Francisco-based company said in a statement yesterday that McKesson was unable to get the backing of investors for 75 percent of Celesio's stock with an offer of 23.50 euros a share.




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