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Laying bedrock for development, growth: Dilip Shanghvi, MD, Sun Pharma
The interim budget exemplifies the government's dedication to Viksit Bharat. It focuses on fortifying the economy, boosting infrastructure, and promoting green growth through bio-manufacturing. The budget also expands universal health coverage and introduces the cervical cancer vaccination program. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - February 1, 2024 Category: Pharmaceuticals Source Type: news

Govt earmarks Rs 1,000 cr for promotion of bulk drug parks
The government has increased the budget for the promotion of bulk drug parks to Rs 1,000 crore for FY25, a significant increase from the previous year. The total outlay for the development of the pharmaceutical industry for FY25 has also been increased to Rs 1,300 crore. Additionally, the budget for the promotion of medical device parks has been raised to Rs 150 crore for FY25. The allocation for assistance to medical device clusters for common facilities has also been increased to Rs 40 crore. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - February 1, 2024 Category: Pharmaceuticals Source Type: news

Budget 2024: Govt actively considering rolling out of HPV vaccine for cervical cancer, says FM
Budget 2024: During her Budget speech, Finance Minister Nirmala Sitharaman said that the government will encourage vaccination for girls in the age group of 9 to 14 years for providing prevention of cervical cancer. She added that the government is actively considering rolling out the HPV vaccine in the country’s immunisation programme. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - February 1, 2024 Category: Pharmaceuticals Source Type: news

Glenmark partners with Pfizer to launch abrocitinib in India to treat atopic dermatitis
Glenmark and Pfizer will co-market abrocitinib in India under the brand names JABRYUS and CIBINQO. Developed by Pfizer, abrocitinib has received marketing authorization for abrocitinib in adults with moderate-to-severe atopic dermatitis from the Central Drugs Standard Control Organization (CDSCO). It is also approved by the USFDA, European Medicines Agency (EMA), and other regulatory agencies. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 31, 2024 Category: Pharmaceuticals Source Type: news

Local glove makers call for stricter rules to check dumping
The makers of nitrile gloves are meeting the Bureau of Indian Standards (BIS) on Wednesday urging them to intervene as the market is being flooded by poor quality glove dumping. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 30, 2024 Category: Pharmaceuticals Source Type: news

ADIA, HarbourVest eye minor stake in Cohance
ADIA and HarbourVest are in discussions to acquire a minority stake in Cohance Lifesciences, a pharmaceuticals platform owned by Advent International. The investors plan to invest $350-400 million, valuing Cohance Lifesciences at $1.5 billion. Advent International currently owns a 76% stake in Suven Pharmaceuticals, which was merged with Cohance Lifesciences. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 30, 2024 Category: Pharmaceuticals Source Type: news

Glenmark forms alliance with Ichnos to develop anti-cancer drugs
Glenmark Pharmaceuticals and Ichnos Sciences have formed an alliance called Ichnos Glenmark Innovation (IGI) to accelerate cancer drug discovery. The alliance combines Glenmark's expertise in small molecules with Ichnos' proficiency in novel biologics. They are developing therapy solutions for hematological malignancies and solid tumors, with three innovative oncology molecules currently in clinical trials. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 30, 2024 Category: Pharmaceuticals Source Type: news

Jubilant Pharmova sells stake in Sofie Biosciences for $139.4 million
JPL holds a 25.8% stake in Sofie Biosciences, which it acquired through its Singapore-based subsidiary Jubilant Pharma in November 2020 for $25 million. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 30, 2024 Category: Pharmaceuticals Source Type: news

Zydus launches pill for prostate cancer patients
The drug firm said the medication would cost Rs 6,995 per month, which is 50 per cent less than the currently available injectable options. "With this, the treatment for prostate cancer in India can now be made completely oral, thus helping patients lead a better quality of life," Zydus Lifesciences said in a regulatory filing. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 30, 2024 Category: Pharmaceuticals Source Type: news

Orchid Pharma's new antibiotic 'Exblifeb' gets European Medicines Agency approval
The Chennai-based firm said Exblifeb incorporates Enmetazobactam, "the first completely invented-in-India Beta Lactamase inhibitor" and it is designed to address the global challenge of antimicrobial resistance (AMR). Exblifeb' demonstrates remarkable efficacy in treating complicated urinary tract infections (UTI), pneumonia, and bacteremia caused by extended spectrum beta-lactamase producing pathogens, Orchid Pharma said in a regulatory filing. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 30, 2024 Category: Pharmaceuticals Source Type: news

Pharma companies seek one-time nod to delink from WPI, avert price cuts
India's pharmaceutical industry is seeking a one-time exemption from price control measures tied to the declining wholesale price index (WPI). Under the Drug Price Control Order (DPCO) 2013, scheduled drug prices are revised based on the previous year's WPI. Industry executives argue that this would lead to marginal reductions and are requesting an exemption due to rising input costs, aiming to make a representation to India's drug pricing authority. Last year saw a record 12% increase in essential medicine prices linked to the WPI. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 28, 2024 Category: Pharmaceuticals Source Type: news

Samina Hamied of Cipla steps down from her executive role
Samina Hamied, executive vice-chairperson of Cipla, announced her decision to step down from her executive role due to personal and family commitments. She will continue to serve as a non-executive director of the company. Hamied, the daughter of M. K. Hamied and niece of Y. K. Hamied, has been instrumental in driving Cipla's transformation and played a key role in incubating Cipla's consumer health business. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 26, 2024 Category: Pharmaceuticals Source Type: news

Cipla expects record 24 per cent Ebitda margin in FY24
"We enter reverse seasonalist in our India business. The fourth quarter has always been the lowest, so that impacts our margins," Umang Vohra MD and Global CEO of Cipla, said in a post-earnings media call. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 25, 2024 Category: Pharmaceuticals Source Type: news

Samina Hamied to step down as Cipla executive vice chairperson
Drug major Cipla on Thursday said Samina Hamied has decided to step down from the position of Executive Vice Chairperson of the company, while continuing as a non-executive director liable to retire by rotation. In a letter to the board, Hamied stated "I would like to inform you of my decision to step down as Executive Vice Chairperson of Cipla due to personal and family commitments." (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 25, 2024 Category: Pharmaceuticals Source Type: news

Laurus Labs, Slovenia's KrKa ink pact to set up JV firm in Hyderabad
Laurus Labs has entered into an agreement with Slovenia-based drug manufacturer Krka to establish a joint venture (JV) firm in Hyderabad. Under the agreement, Krka will hold a 51% stake, while Laurus Labs will hold 49%. The JV, with a registered capital equivalent to €50 million, aims to produce finished products for new markets, including India. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 25, 2024 Category: Pharmaceuticals Source Type: news