Pharmaceutical company Wockhardt recently announced its financial results for the second quarter and first half of fiscal year 2023, ending September 30th, 2023. The results show strong revenue growth of 11% in Q2 and first half of FY2023, driven by Wockhardt’s international businesses in the UK, emerging markets, and Ireland. Q2 FY2023 Revenue Up 11% […]
Glenmark Pharmaceuticals Ltd. announced today that it has received final approval from the U.S. Food and Drug Administration (FDA) for its generic version of Prolixin (fluphenazine hydrochloride) tablets in four strengths – 1 mg, 2.5 mg, 5 mg, and 10 mg. Glenmark’s fluphenazine hydrochloride tablets are the generic version of Prolixin tablets from Apothecon Inc. […]
Pharmaceutical company Ipca Laboratories announced that its formulations manufacturing facility in Pithampur, Madhya Pradesh has passed a quality inspection by the US Food and Drug Administration (USFDA) and received a Voluntary Action Indicated (VAI) status. A VAI status implies that the USFDA found certain non-critical issues at the facility which require remedial action from the […]
Hyderabad-based Suven Life Sciences today announced positive topline results from a Phase 2 clinical trial evaluating its investigational drug samelisant for the treatment of excessive daytime sleepiness (EDS) in adult patients with narcolepsy. The randomized, placebo-controlled study met its primary endpoint, demonstrating that samelisant treatment resulted in a statistically significant and clinically meaningful reduction in […]
Strides Pharma Science Ltd (NSE: STAR), a global pharmaceutical company headquartered in Bengaluru, India, reported strong financial results for the second quarter (Q2 FY24) ended September 30, 2023. The company posted quarterly sales of ₹10,264 million, up 10% quarter-on-quarter and 21% year-on-year. This is the sixth consecutive quarter of growth for Strides, leading to an […]
Dr. Reddy’s Laboratories Ltd (DRL) announced a decent set of numbers for the second quarter of fiscal year 2024, reflecting continued growth momentum for the Indian pharma major and improved numbers from the US. DRL reported total revenues of Rs 68,802 million in Q2 FY24, a growth of 9% over the same quarter last year. […]
Analysts have given mixed reactions to Torrent Pharmaceuticals, which reported a 16% year-on-year increase in second-quarter revenue to Rs 26,600 crore, more than half of which came from India. Kotak and JM Financial have remained cautious on Torrent Pharma with unchanged ‘REDUCE’ and ‘HOLD’ ratings respectively. While JM Financial has not outlined estimate changes, Kotak […]
Indian pharmaceutical company Panacea Biotec Ltd announced today that it has received notice of an arbitration proceeding initiated by Canadian firm Apotex Inc. The dispute relates to a 2014 collaboration agreement between the two companies for the development and supply of a pharmaceutical product aimed at the US market. Apotex has claimed damages of $118.14 […]
Sun Pharmaceutical Industries Limited, India’s largest pharmaceutical company, has announced equity investments in two healthcare startups – Ezerx Health Tech and Agatsa Software. The pharmaceuticals company said these companies possess innovative technologies in areas of pharma and healthcare. As per a regulatory filing, Sun Pharma has entered into an agreement to acquire 37.76% stake in […]
The growth in US generic sales of leading Indian pharmaceutical companies moderated in the three months ended August 2023. Total sales of generic drugs in the US declined 0.5% compared to the three months ended July and 1.9% compared to the three months ended May. Moreover, the annualized number of Abbreviated New Drug Applications (ANDA) […]
A bidding war is reportedly heating up for Biogen’s biosimilars portfolio, with three major pharmaceutical companies reportedly offering around $1 billion for the business unit – Samsung Bioepis, India’s Dr. Reddy’s Laboratories, and Intas Pharmaceuticals. Of the three, Samsung and Intas may be placed to gain the maximum from the acquisition. Biogen’s biosimilars division focuses […]
The Indian pharmaceutical market is expected to show a recovery in the second half of the financial year, according to analysts tracking this sector. Pharma sales grew by 10.1% in the 12 months ending August 2023 compared to the same period last year. This growth was driven by a combination of price increases, new product […]
A new report by Kotak Institutional Equities suggests that investors may be underestimating the threat posed by generic drugs to the ‘branded generics’ business of leading Indian pharmaceutical companies. The report highlights that current implied valuations of around 30-40x FY2025 EPS for most major pharma firms assume a relatively benign 10-11% growth in the Indian […]
Equity research firm Systematix Institutional Equities has initiated coverage on pharmaceutical major Pfizer Ltd with a “Buy” rating and set a target price of Rs 4,954, indicating an upside potential of around 30% from current levels. The broking house said the recent slowdown in Pfizer Inc’s Indian subsidiary was due to temporary factors and its […]
Alembic Pharmaceuticals said it received tentative approval from the US Food & Drug Administration to launch a generic form of blood pressure tablet Opsumit. The tablet, including generic forms such as macitentan, is one of the bigger sellers in the market with estimated annual sales of $797 mn. Most of the generic drugs sold by […]
For the first time, a key government official has said that the omicron variant of SARS-CoV-2 virus is likely behind the sudden increase in COVID cases seen in the last 4-5 days, without giving details. “We believe what we’re witnessing could be part of the global surge in cases pushed by the Omicron variant,” said […]
Sun Pharmaceutical Industries said it has received Emergency Use Authorization or EUA from India’s Drugs Controller General of India (DCGI) to manufacture and market a generic molnupiravir in India, a week after the US-FDA gave an EUA to its use in the US. The company has promised to make the oral drug, under the brand […]
Zydus Cadila said it received tentative approval from the USFDA to market Pimavanserin tablets — a generic form of Acadia Pharmaceuticals’ Nuplazid — in the US. Tentative approval refers to approval given ahead of patent expiry. The company will be able to start selling the drug only when the patent protection expires. The compound, as […]
Strides Pharma Science Ltd said its mega vaccine plant in Bangalore is ready and has started commercially producing Russian COVID vaccine Sputnik Light. “As previously committed, the company is on track to commercialize this vaccine for Global markets in Q4FY22,” it added. Strides Pharma unit Stelis was the third pharma manufacturer in India to sign […]
Advanced Enzyme Technologies Ltd, India’s largest food supplement enzyme manufacturer, said it has appointed an exclusive distributor for Indonesia, Malaysia, Philippines, Singapore, Thailand & Vietnam. The distribution agreement with Singapore-based Azelis covers all food enzymes and probiotics for the food & dietary supplement industry. Azelis sells chemical and food ingredients in over 50 countries across […]
