Rising generic threat in India not reflected in Pharma valuations – Kotak Institutional

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 […]

Systematix puts a ‘buy’ on Pfizer India on drug strong pipeline

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 […]

Zydus Cadila gets USFDA nod for Acadia’s Parkinson’s drug

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 starts making Sputnik COVID vaccine in India

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 […]

Biocon expands to Middle East with out-licensing deal

Biocon, one of most prominent Indian pharmaceutical companies focused on developing its own drugs and formulations, kicked off its expansion into the Middle East market with an out-licensing deal with Saudi Arabia-based Tabuk Pharmaceutical Manufacturing Co. Biocon did not list the products that are covered by the licensing deal, but said it would cover “select […]

Morepen Labs’ exports to get ‘major boost’ with FDA nod for Allegra

Morepen Laboratories said it expects its US export business to get a major boost now that the US FDA has given it the go-ahead to export allergy drug Allegra to that market. Fexofinadine, invented by Sanofi Aventis, is the most widely used, second generation antihistamine drug for the treatment of allergy symptoms and hay fever, […]

Demand for sugar, BP machines drive Morepen Q2 profits

Medical devices and chemicals manufacturer Morepen Laboratories reported a strong increase in revenue and profitability, as demand for its home diagnostic equipment such as glucose meters shot up in the aftermath of the COVID-19 pandemic. The company’s revenue for the Jul-Sep period jumped by 17% on year to Rs 398 cr, while net profit jumped […]

Zydus Cadila starts crucial trial for fatty liver drug

Cadila Healthcare, also known as Zydus Cadila, said it has started enrolling patients in a trial that can potentially yield the first FDA approved treatment for NASH or non-alcoholic fatty liver disease with inflammation. Fatty liver disease, caused by the deposition of fat in the liver, is divided into alcohol-related and non-alcohol related. Within non-alcoholic […]

Biocon’s insulin glargine approved by US pharmacy benefits manager

Biocon subsidiary Biocon Biologics Limited (BBL) said its insulin substitute Insulin Glargine has been included by Express Scripts — a prominent ‘pharmacy benefits manager’ in the US — in its National Preferred Formulary. Pharmacy benefits manager, as the name implies, is a kind of outsourced service provider that manages pharmacy benefits extended to employees by […]

After EU, Lincoln Pharma gets Australian approval for plant

India-based Lincoln Pharmaceuticals Ltd said it is looking forward to entering the Australian market, after Australia’s medicines and medical devices regulator – Therapeutic Goods Administration {TGA) – approved the company’s primary manufacturing plant in Khatraj, Gujarat. The approval, said the medicine manufacturer, has been granted for all three sections, tablets, capsules and creams & ointments. […]

Biocon launches cancer medicine in the US

Biopharmaceuticals manufacturer Biocon Ltd launched cancer medication Everolimus tablets in the US. The formulation, a generic version of Afinitor from Novartis, is a prescription medication that is used to treat certain types of cancers and tumours. The tablet has annual sales of around $675 mln in the US, which makes it among the larger drugs […]

Zydus Cadila signs deal with Shipa Medicare for ZyCoV-D production

Cadila Healthcare, also known as Zydus Cadila, has taken one more step towards augmenting the production capacity for its DNA-based Covid vaccine known as ZyCoV-D by inking an agreement with Shilpa Medicare. Under the agreement, Shilpa Medicare Ltd will use its biologics manufacturing plant at Dharwad, Karnataka, to manufacture ZyCoV-D. ZyCoV-D is the world’s first […]

Zydus Cadila gets US-FDA nod for antidepressant drug

Zydus Cadila said it received approval from the US Food & Drug Administration to sell new generation anti-depressant Vortioxetine in the US market. The drug was first approved around seven years ago, and was developed by Denmark-based pharmaceuticals maker Lundbeck in the late 2000s. Around 2007, Japanese pharmaceuticals maker Takeda agreed to pay an upfront […]

Lupin gets license to manufacture new TB drug

Indian pharmaceuticals manufacturer Lupin Ltd said it received a non-exclusive license to manufacture the anti-TB drug pretomanid from non-profit drug developer, TB Alliance. The company said it plans to sell the drug in 140 countries and territories, including many of the highest TB burden countries around the world. Pretomanid will be administered as part of […]

Alkem’s Taloja test facility passes US FDA inspection

Pharmaceuticals manufacturer Alkem Laboratories said its bioequivalence center at Taloja in Maharashtra has successfully undergone a US FDA inspection without attracting any adverse remarks. “US FDA had conducted a remote and virtual Bio-Analytical inspection of the Company’s Bioequivalence Center located at Taloja, Maharashtra from 26th July, 2021 to 28th July, 2021. At the end of […]

Glenmark, Cipla get US nod for inhaler drug

Indian pharmaceutical manufacturers Cipla and Glenmark Pharma said they received approval from the US Food and Drug Administration to launch a generic version of Sunovion Pharma’s inhaler therapy Brovana. The drug has substantial sales in the US of around $438 million in the 15 mcg dose and is approved for long-term, twice daily usage for […]

Wockhardt says in talks with COVID-19 vaccine makers

Mumbai-based pharmaceuticals manufacturer Wockhardt officially confirmed that it is indeed in negotiations with multiple companies to explore the option of manufacturing their COVID-19 vaccines. The confirmation comes in the wake of recent media reports quoting government sources that the company had suggested to the government that it can divert some of its manufacturing capacities for […]