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Centre seeks more time to frame policy on online sale of medicines, Delhi High Court grants 'last opportunity'
A bench of Acting Chief Justice Manmohan and Justice Manmeet PS Arora made clear that "if the draft policy is not prepared before the next date of hearing, this court will have no other option but to proceed ahead with the matter". The high court, which was hearing several petitions seeking a ban on the "illegal" sale of drugs online and challenging the draft rules published by the ministry to further amend the Drugs and Cosmetics Rules, listed the matter for further hearing on July 8. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 17, 2024 Category: Pharmaceuticals Source Type: news

Prices of 800 essential drugs to increase a tad from April 1
After massive annual increases of 12% and 10% in prices on record last year and in 2022, this will be a meagre increase for the pharma industry. The adjusted prices will cover more than 800 drugs on the National List of Essential Medicines. Price changes for scheduled drugs are allowed once a year. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 14, 2024 Category: Pharmaceuticals Source Type: news

Eris Lifesciences acquires Biocon Biologics domestic branded formulation business for Rs 1,242 crore
As part of the deal over 430 employees associated with the business are expected to transition to Eris, ensuring continuity for both employees and patients. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 14, 2024 Category: Pharmaceuticals Source Type: news

Biocon to sell branded formulations business to Eris Lifesciences for $150 mn
The deal, which is expected to close by April 15, 2024, includes the acquisition of insulin brands Basalog and Insugen which Eris said will help its diabetes treatment franchise reach 10 billion rupees in revenue, without specifying a timeline. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 14, 2024 Category: Pharmaceuticals Source Type: news

Pharmaceutical bodies welcome uniform marketing code
"We welcome the UCPMP. It is a balanced order that ensures that there is a healthy and ethical engagement between the pharmaceutical industry and medical professionals," Indian Drug Manufacturers' Association (IDMA) national president Viranchi Shah said. "It also brings clarity in the domain and has been updated as per current industry practices. The IDMA has always been in favour of ethical marketing practices for its members." (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 13, 2024 Category: Pharmaceuticals Source Type: news

Zydus launches anti-cancer generic drug olaparib in India
The drug will target specific genetic mutations prevalent in certain types of cancers, paving the way for a more tailored and effective treatment approach, the company said in a stock exchange filing. The drug will target specific genetic mutations prevalent in certain types of cancers, paving the way for a more tailored and effective treatment approach. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 13, 2024 Category: Pharmaceuticals Source Type: news

Panel to review prices of drugs, medical devices
The government has constituted a panel to reform the pricing framework for drugs and medical devices. The committee will evaluate the availability and pricing of essential medicines, balance price and availability, and consider institutional reforms within the NPPA. It will also design a price moderation framework for medical devices and minimize imports. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 12, 2024 Category: Pharmaceuticals Source Type: news

Dr Reddy's gets Rs 74.22 cr tax demand from GST authority
Pharma major Dr Reddy's Laboratories Ltd received a tax demand with penalty of over Rs 74.22 crore from GST authority for wrongly availing credit of input tax. The company will file an appeal with the appellate authority in response to a regulatory filing. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 12, 2024 Category: Pharmaceuticals Source Type: news

Govt notifies new marketing code for pharma industry
The government has implemented a new Uniform Code for Pharmaceutical Marketing Practices (UCPMP) to control unethical practices in the pharma industry. The code prohibits companies from offering gifts, workshops, or free samples to healthcare professionals and aims for an ethical transformation. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 12, 2024 Category: Pharmaceuticals Source Type: news

Mankind Pharma enters exclusive pact to distribute AstraZeneca's anti-asthma drug Symbicort in India
AstraZeneca Pharma India has partnered with Mankind Pharma to exclusively distribute its anti-asthma drug Symbicort in India. AstraZeneca will retain the intellectual property rights to Symbicort and continue as the marketing authorization holder. Symbicort, a top-selling product globally for AstraZeneca, recorded sales of around $2.4 billion in 2023. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 11, 2024 Category: Pharmaceuticals Source Type: news

Govt revamps pharma scheme; broadens eligibility criteria, brings in flexible financing options
The Indian government has revamped the Pharmaceuticals Technology Upgradation Assistance Scheme (PTUAS) to support drug companies in upgrading their facilities to produce medicines conforming to global standards. The scheme now extends beyond MSMEs to pharmaceutical manufacturing units with a turnover of less than Rs 500 crore that require technology and quality upgradation. The scheme also introduces more flexible financing options, emphasizing subsidies on reimbursement basis. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 11, 2024 Category: Pharmaceuticals Source Type: news

Govt announces revamped technology upgradation assistance scheme for pharma units
The Department of Pharmaceuticals (DoP) has announced the Revamped Pharmaceuticals Technology Upgradation Assistance (RPTUAS) scheme to enhance the technological capabilities of the pharmaceutical industry, aligning it with global standards. The scheme covers pharmaceutical units with a turnover of less than Rs 500 crore for the last three years, offering incentives of up to Rs 1 crore. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 11, 2024 Category: Pharmaceuticals Source Type: news

KKR, Carlyle and EQT among five buyout funds in race for Healthium
KKR, Carlyle, EQT, Hillhouse, and TA Associates are competing to acquire Healthium Medtech, the largest homegrown surgical sutures and surgical needles manufacturer in India. Apax Partners currently owns 99.8% of Healthium. The company has a significant international presence and moderate client concentration risk. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 10, 2024 Category: Pharmaceuticals Source Type: news

Sun Pharma recalls 55,000 bottles of generic drug from US market due to manufacturing norms violation
Sun Pharma is recalling 55,000 bottles of Febuxostat Tablets, in 40 mg and 80 mg strengths, from the American market due to manufacturing practice deviations caused by microbial contamination at their Dadra-based plant. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 10, 2024 Category: Pharmaceuticals Source Type: news

Pharma market grows 9% in Feb on price increase, new products
India's pharmaceutical market witnessed a robust 9% month-on-month growth in February, driven by strong performance in cardiology and anti-infective therapies. However, the respiratory segment saw negative growth in both value and units. The growth was primarily attributed to price increases and new product launches. Antibiotic Augmentin retained its position as the top-selling drug, with other key players including Rosuvas, Thyronorm, Liv 52, and Pan. Anti-diabetic drug Rybelsus continued its triple-digit growth trend. (Source: The Economic Times Healthcare and Biotech News)
Source: The Economic Times Healthcare and Biotech News - March 8, 2024 Category: Pharmaceuticals Source Type: news