Drug Firms

Move comes after Drugs Controller General of India conducts inspection on 76 drug firms in 20 states

Drug firm Orchid Pharma on Thursday said its board has approved to raise Rs 500 crore from institutional investors. The company's board has approved a Qualified Institutional Placement (QIP) programme to raise Rs 500 crore, it said in a regulatory filing. With this QIP, the Dhanuka group, which took over the company in 2018, is also meeting its mandatory obligation to dilute 15 per cent stake in it by March 2023. Post a successful turnaround of the Insolvency Bankruptcy Code case, the company has been on a growth spree, it said. On the back of a robust product launch pipeline and an agile management team, the company said it is poised to become an even stronger player in the Cephalosporin antibiotics space.

Drug firm Wockhardt on Saturday said it has tied up with various partners to roll out products in the US market with its Illinois-based manufacturing plant all set to relieve all workers in a phased manner as part of business restructuring in the US market. The Mumbai-based company said it has engaged multiple US Food and Drug Administration (USFDA) approved manufacturing partners in the US market, after thorough due diligence and inspection of their facilities, to manufacture various products for sale in the US/ North America. "The company is relieving all its staff who were directly engaged by our US subsidiary in its plant in connection with the manufacturing process in a phased manner and in full compliance with the applicable local laws," Wockhardt Ltd said in a regulatory filing. This new arrangement is in the best interest of the company as it will help avoid the manufacturing and quality management cost completely resulting in significant savings in operating and overhead co

The drug firm said exceptional items for June quarter comprised Rs 130 crore on account of a voluntary retirement scheme and Rs 6 crore for restructuring to drive business transformation.

Finds links to Hawala sale of medicines to Afghanistan

The drug firm on Tuesday reported a 54.65 per cent decline in its net profit

Drug firm Zydus Cadila on Friday said it has received tentative nod from the US health regulator to market generic Adapalene and Benzoyl Peroxide gel used for treatment of acne in the American market. The company has received tentative approval from the United States Food and Drug Administration (USFDA) to market Adapalene and Benzoyl Peroxide Gel 0.3 per cent/2.5 per cent, Zydus Cadila said in a statement. The drug will be manufactured at the group's topical plant at Ahmedabad, it added. Adapalene and Benzoyl Peroxide combination is used to treat acne. It works by killing the bacteria that cause acne and by keeping the skin pores clean, Zydus Cadila said. The group now has 323 approvals and has so far filed over 400 abbreviated new drug applications (ANDAs) since the commencement of its filing process, it added. Shares of Cadila Healthcare, the listed entity of the group, were trading at Rs 550.55 per scrip on BSE, up 0.18 per cent from their previous close.

The transaction in India will be closed upon receipt of regulatory approvals, Pfizer Ltd said

Drug firm AstraZeneca Pharma India on Sunday said it has received import and market permission from the Indian drug regulator for Selumetinib capsules. The company has received the import and market permission in Form CT-20 from the Drugs Controller General of India for Selumetinib 10 mg & 25 mg capsules, AstraZeneca Pharma India said in a regulatory filing. The receipt of this permission paves way for the launch of Selumetinib 10 mg & 25 mg capsules in India, subject to the receipt of related statutory approvals and licenses, it added. Selumetinib 10 mg & 25 mg capsules are indicated for treatment of pediatric patients 3 years of age and older with neurofibromatosis type 1 and who have symptomatic, inoperable plexiform neurofibromas, it added.

Revenue from operations of the company stood at Rs 789.1 crore for the quarter under consideration

Drug firm Unichem Laboratories on Thursday said it has received approval from the US health regulator to market generic Amitriptyline HCl tablets used in the treatment of depression. The company has received abbreviated new drug application (ANDA) approval to market its Amitriptyline HCl tablets USP, in the strengths of 10 mg, 25 mg, 50 mg, 75 mg, 100 mg and 150 mg from the United States Food and Drug Administration (USFDA), Unichem Laboratories said in a regulatory filing. The product is a generic version of AstraZeneca Pharmaceuticals LP's Elavil tablets in the same strengths, it added. The tablets will be commercialised from the company's Goa plant, Unichem Labs said. Amitriptyline HCl Tablets are indicated for the relief of symptoms of depression, it added. Shares of Unichem Laboratories closed at Rs 358.60 per scrip on BSE, up 7.43 per cent from its previous close.

At the time of its IPO, retail investors bid for only 24 per cent or 0.24 times of the shares set aside for them

UK site would fill-finish 100 mn doses of AstraZeneca vaccine, has 350 mn dose capacity; Aurangabad can make has 1 bn doses, vaccine raw materials

During April-July, drug makers exported products worth $ 7.4 billion, a growth of 9.5 per cent on year on year basis

Pricing pressure in this category is already visible as Glenmark revised its original price (Rs 103 per tablet) to Rs 79 per tablet within a month of the launch

But drug firms brace for supply disruptions

Increased USFDA import alerts could be reason for finding alternative sites

The provision will apply if the drug is found substandard or broken or if the bottle containing the drug in liquid form is damaged or leaking

The first quarter (Q1) of this financial year was a strong one for pharmaceutical players, driven by 28 per cent domestic growth on a GST-disrupted base

Around five pharma firms had filed writ petitions in the Delhi High Court challenging the September 7 notification by the Ministry of Health and Family Welfare