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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

Novartis India MD Sanjay Murdeshwar resigns
Sanjay Murdeshwar, the Vice Chairman and Managing Director of Novartis India, has resigned from his position. The board of Novartis India has accepted his resignation, effective from close of business hours on April 2, 2024. Murdeshwar cited the evolution of his personal and professional aspirations as the reason for his resignation. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 25, 2024 Category: Pharmaceuticals Source Type: news

Zydus gets USFDA nod for generic medication
Zydus Lifesciences announced that it has obtained approval from the USFDA to sell a generic medication for the treatment of postherpetic neuralgia. The company has received the final nod from the US Food and Drug Administration (USFDA) to produce and distribute Gabapentin tablets in strengths of 300 mg and 600 mg, as stated in a regulatory filing by Zydus Lifesciences. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 25, 2024 Category: Pharmaceuticals Source Type: news

Glenmark inks licensing pact with Jiangsu Alphamab, 3D Medicines for cancer drug
Glenmark Pharmaceuticals Ltd announced that its subsidiary, Glenmark Specialty S A (GSSA), has entered into a license agreement with Jiangsu Alphamab Biopharmaceuticals Co and 3D Medicines (Beijing) Co Ltd for KN035 (Envafolimab), a cancer treatment drug. Under the agreement, Glenmark gains the license for KN035 (Envafolimab) in various regions, including India, Asia Pacific, the Middle East, Africa, Russia, CIS, and Latin America. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 25, 2024 Category: Pharmaceuticals Source Type: news

Export of drugs meant only for Indian market under DCGI lens
The DCGI has asked all port offices to ensure that products meant for the "India market only" are not exported after receiving complaints about the unauthorised export of drugs meant for the local market. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - January 24, 2024 Category: Pharmaceuticals Source Type: news

Powered by innovative drugs, pharma industry can be worth $200 billion by 2030, says Biocon chief Kiran Mazumdar-Shaw
Research-based incentives can boost the domestic pharmaceutical sector, making it worth USD 200 billion by 2030, according to Biocon Executive Chairperson Kiran Mazumdar-Shaw. She believes the industry has the potential to grow even further beyond the estimated USD 165 billion by 2030, but this growth must be driven by drug innovation rather than just generics and biosimilars. Mazumdar-Shaw emphasized the need for research incentives to drive this growth and called for stronger government support through research-linked incentive schemes. She also suggested decoupling private sector investment and funding academic research...
Source: The Economic Times Healthcare and Biotech News - January 24, 2024 Category: Pharmaceuticals Source Type: news