Pharmaceutical Sector

'Pharmacists have potential to drive Indian economy'

GN-SinghNew Delhi, Dec 20 : The pharmaceutical industry has a huge potential to drive the country's economy, Drug Controller General of India, G. N. Singh, said here Friday.

"After the IT sector, the pharmaceutical sector has a huge potential to drive the economy of this country and we can achieve this by empowering our pharmacists. There are immense challenges in this sector and we must work hard to become the global leader," Singh said.

He was speaking at the inaugural session of the 65th Indian Pharmaceutical Congress (IPC). The theme of the conference is Vision 2020: Empowering Pharmacist.

ADHD drugs may cause prolonged and painful erections

ADHD drugsWellington, December 20 : Attention deficit hyperactivity disorder pills can cause prolonged and painful erections, it has been revealed.

According to US regulators, Ritalin and similar medicines with the active ingredient methylphenidate could also lead to permanent penis damage, Stuff. co. nz reported.

The National Institutes of Health said that ADHD is one of the most common childhood disorders which can cause difficulty with staying focused and controlling behavior, and 61 percent of patients prescribed methylphenidate or dex methylphenidate products last year were male.

GSK will no longer pay doctors for promoting its products

GlaxoSmithKlineBritish drug maker GlaxoSmithKline (GSK) has decided to put an end to two very common controversial industry practices - paying doctors to promote the company's products and tying sales representatives' compensation to the number of prescriptions doctors write.

GSK Chief Executive Andrew Witty confirmed on Tuesday that the company would stop paying doctors for promoting its products and also stop tying representative's compensation to number of prescriptions doctors write.

GlaxoSmithKline Plc to spend $1 billion to increase stake in India subsidiary

GlaxoSmithKline Plc to spend $1 billion to increase stake in India subsidiaryU. K.-based pharmaceuticals giant GlaxoSmithKline Plc (GSK) on Monday confirmed that it would invest nearly $1 billion (Rs 6,389 crore) to increase its stake in its Indian arm.

GSK announced that it would acquire more than 2.06 crore shares or nearly 24.33 per cent stake in GlaxoSmithKline Pharmaceuticals Ltd (GSK Pharma) at a price of Rs 3,100 per share through an open offer.

Torrent Pharma to acquire Elder’s local drug ops for Rs 2,000 crore

Torrent Pharma to acquire Elder’s local drug ops for Rs 2,000 croreTorrent Pharmaceuticals Ltd has entered into a definite agreement with Elder Pharmaceuticals Ltd to acquire the later pharmaceuticals giant's local drug operations on a slump sale basis for Rs 2,000 crore.

Elder's India formulations business consists of a portfolio of thirty brands, including segments like women's healthcare, pain management, wound care as well as nutraceuticals therapeutic. Torrent termed the acquisition as a "strategic fit" and said it would provide strength to its core prescription-based business.

Govt. makes no change in pharma FDI policy

Govt. makes no change in pharma FDI policyBrushing aside Anand Sharma-led Commerce Ministry's concerns over allowing 100 per cent foreign direct investment (FDI) in greenfield and brownfield drug-manufacturing companies, the congress-led government has decided to make no change in the current FDI policy for the pharmaceutical sector.

The Commerce Ministry had urged the government to impose a cap of 49 per cent on FDI in greenfield and brownfield drug manufacturing companies, along with some safeguards, arguing that it could push many drugs or medicines out of the reach of the poor.

Wockhardt shares fall nearly 14% on FDA import alert

Wockhardt shares fall nearly 14% on FDA import alertShares of pharmaceuticals giant Wockhardt Ltd slipped as much as 14 per cent after the company revealed that American health regulator had imposed restrictions on import of medicines produced by its Chikalthana manufacturing facilities.

In a filing to the Bombay Stock Exchange (BSE) on Wednesday, Wockhardt said it had received a warning letter from the U. S. Food & Drug Administration (USFDA) for its manufacturing plant situated at L1, Chikalthana in Aurangabad.

Biocon sets up its own academy to develop industry-ready talent

Biocon sets up its own academy to develop industry-ready talentBiocon, one of the leading biopharmaceutical giants in India, has set up an academy of its own to train and develop industry-ready talent for the country's fast-growing biotech industry.

The Biocon Academy has tied up with California-based Keck Graduate Institute a 4-month full-time certificate program in Biosciences. Enrollment for the program, which will be a blend of theory and hands-on project training, has already begun.

Ranbaxy used fraudulent data to get FDA’s nod: ex-employee alleges

Ranbaxy used fraudulent data to get FDA’s nod: ex-employee allegesPharmaceuticals giant Ranbaxy Laboratories made use of dishonest means to gain U. S. drugs regulator FDA's approval for its generic drugs, whistleblower Dinesh Thakur alleged.

Thakur, an ex-employee of the Indian drug maker, alleged that the company used "fraudulent" data and faked test results to gain FDA's approval for selling its generic drugs in America.

J&J to pay $2.2 bn to end US drug probes

Johnson-and-JohnsonWashington, Nov 5 : Global healthcare giant Johnson & Johnson and its subsidiaries have agreed to pay more than $2.2 billion to resolve criminal and civil investigations for misbranding anti-psychotic drugs and paying kickbacks to pharmacists, the US Department of Justice said.

The resolution of one of the largest healthcare fraud settlements in the US history included criminal fines and forfeiture totalling $485 million and civil settlements with the US federal and state authorities totalling $1.72 billion, US Attorney General Eric Holder said, Xinhua reported.

Marc Dunoyer to replace Simon Lowth as AstraZeneca’s CFO

AstraZenecaSwedish pharma giant AstraZeneca has said that Marc Dunoyer, who had joined from rival GlaxoSmithKline in June, will be promoted to the post of the Chief Financial Officer.

Marc Dunoyer will replace Simon Lowth as the CFO of the company, which has been facing falling profits and an investigation in the US over a clinical trial. The company said that its operating profits fell 29 per cent during the third quarter of the year. Dunoyer will take over the company with a set of accounts that are facing difficult market conditions.

Lupin Q2 net up 40 percent to Rs.406 crore

Lupin Q2 net up 40 percent to Rs.406 croreMumbai, Oct 30 : Drug maker Lupin saw its consolidated net profit rising 39.8 percent in the second quarter to Rs. 406.20 crore, driven by other income, despite higher tax rate.

Consolidated revenue of the company grew 16 percent year-on-year (Y-o-Y) to Rs. 2,668 crore in quarter ended September 2013, supported by formulations business and strong growth US, Europe and Africa, the company said in a release.

Glaxo’s sales fall 61% in China

GlaxoPharmaceutical giant, Glaxo has said that it sales has fallen by a disappointing 61 per cent in China during the third quarter as the company faces a massive investigation into bribery in the country.

Britain's biggest drugmaker's business has been impacted due to the ongoing investigation into its business by the authorities in China. The crisis in China affected its turnover to be below market expectations at £6,610 million. The company's third quarter core earnings per share (EPS) was recorded at 28.9p and the company expects the EPS to grow around 3-4 per cent on a constant exchange rates basis.

India’s drug regulator approves Ranbaxy’s new anti-malaria drug

India’s drug regulator approves Ranbaxy’s new anti-malaria drug Indian drug regulator on Monday approved pharmaceuticals giant Ranbaxy Laboratories' anti-malaria drug SynriamTM that treats malaria caused by Plasmodium vivax parasite.

Ranbaxy said in a statement that the Central Drug Standard Control Organisation (CDSCO) of India approved its application to manufacture and market SynriamTM in the country for the treatment of malaria caused by Plasmodium vivax parasite in adults.

Israeli drug giant to lay off 5,000 workers

Israeli drug giant to lay off 5,000 workersJerusalem, Oct 11 - The world's biggest generic drugs manufacturer Teva Pharmaceutical Industries will fire 10 percent of its workers worldwide, the Israeli-based company announced Thursday.

Most of the 5,000 employees will be fired by the end of 2014. The move will help Teva save $2 billion annually by 2017, compared to the previously guided range of $1.5-2 billion, reported Xinhua citing the company's statement.

Lupin launches generic solution for conjuctivitis in US

Lupin launches generic solution for conjuctivitis in USMumbai, Oct 3 : Drug maker Lupin Thursday said it has launched the generic version of Allergan Inc's Zymaxid Ophthalmic Solution in the US market with 180 days of marketing exclusivity.

Lupin Pharmaceuticals Inc, the company's US subsidiary, launched its generic Gatifloxacin Ophthalmic Solution 0.5 percent in the US market, after having received the regulator's final approval earlier, Lupin said in a statement.

U.S. approves Mylan’s purchase of Agila

U.S. approves Mylan’s purchase of Agila U. S. Federal Trade Commission (FTC) on Thursday announced that generic drug maker Mylan Inc's proposed deal with India's Strides Arcolab Ltd to buy its Agila unit had been approved.

The Agila acquisition deal, which has already been approved by Indian authorities, was valued at US$1.6 billion at the time of its announcement in February this year.

American antitrust authorities approved the deal, attached some conditions. Giving its approval, the FTC said the companies would have to divest assets required to make eleven generic injectable drugs.

Strides’ shares jump as govt. clears Mylan’s proposal to buy Agila subsidiary

Strides’ shares jump as govt. clears Mylan’s proposal to buy Agila subsidiary Shares of Strides Arcolab opened at a gain of 3 per cent at Rs 919 apiece in Wednesday morning trade, thanks to the government's approval for U. S.-based Mylan Inc's proposal to acquire the company's subsidiary Agila Specialties.

Mylan has agreed to acquire Strides Arcolab's Bangalore-based pharmaceuticals unit Agila Specialties for Rs 5,168-crore.

US-based Mylan to buy 100 percent stake in Agila Specialities

US-based Mylan to buy 100 percent stake in Agila SpecialitiesNew Delhi, Sep 3 : The US-based pharmaceutical firm Mylan Inc. will buy 100 percent stake in Agila Specialities Private Limited, that will result in foreign investment inflow of nearly Rs. 5,168 crore in the country.

The Cabinet Committee on Economic Affairs chaired by Prime Minister Manmohan Singh Tuesday approved the investment proposal by the American firm.

The Foreign Investment Promotion Board (FIPB) had referred the proposal to the cabinet.

FIPB approves Mylan’s Rs 5,168cr FDI proposal

FIPB approves Mylan’s Rs 5,168cr FDI proposalThe Foreign Investment Promotion Board (FIPB) on Tuesday approved American pharma giant Mylan Inc's proposal to acquire Agila Specialties Private Limited in a deal worth Rs. 5,168 crore.

Confirming the development, Economic Affairs Secretary Arvind Mayaram said, "Mylan proposal was cleared."

Pennsylvania-based Mylan's huge investment proposal is now awaiting approval from the Cabinet Committee on Economic Affairs (CCEA). It may be noted here that any foreign direct investment (FDI) of more than Rs 1,200 crore has to obtain final approval from the CCEA.




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