Pharamaceutical Industries

Specialty chemicals company Aether Industries on Thursday said it has signed an initial pact with the Gujarat government to set up new manufacturing plants at its Panoli Site with an investment of around Rs 1,000 crore. The company has signed a Memorandum of Understanding (MoU) with the Gujarat government to this effect, Aether Industries said in a statement. With an indicated investment of Rs 1,000 crore, generating future employment for more than 1,000 people, the company aims to commission the plants by the year 2025, the statement added. In the recent past, the company had purchased 1,25,000 sq. plots at Panoli GIDC, in Bharuch district. The company aims to utilise the Panoli plots in an efficient manner to manufacture a variety of products for the first time in India. Surat-based Aether produces advanced intermediates and specialty chemicals. The products find application in the pharmaceutical, agrochemical, material science, coating, high-performance photography, additive,

Dr Reddy's Laboratories is recalling over 4,000 bottles of a generic drug in the US due to a packaging error. The Hyderabad-based drug major is recalling 4,320 bottles of Tacrolimus Capsules which are used to prevent the body from rejecting a transplanted organ. New Jersey-based Dr Reddy's Laboratories Inc, a unit of the company, is recalling the affected lot due to "Presence of one Tacrolimus 1 mg capsule co-mingled in a bottle containing and labeled as Tacrolimus 0.5 mg capsules," USFDA said in its latest Enforcement Report. The affected lot was produced at the company's Bachupally-based manufacturing plant and marketed in the US by its American arm. Dr Reddy's initiated the Class II nationwide recall on February 8 this year. As per USFDA, a Class II recall is initiated in a situation in which use of, or exposure to, a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remot

Drug major Sun Pharma on Monday said it has completed the acquisition of US-based Concert Pharmaceuticals. In January, the Mumbai-based company inked a pact to acquire Concert in a USD 576 million deal. The drug major has successfully completed the acquisition of Concert Pharmaceuticals, Inc, a late-stage clinical biopharmaceutical company that is developing deuruxolitinib for the potential treatment of adult patients with moderate to severe alopecia areata, Sun Pharma said in a regulatory filing. "We are excited to add deuruxolitinib, a late-stage, potential best-in-class treatment for alopecia areata, to our growing global dermatology portfolio and expand our presence in the Boston biotech hub," Sun Pharma North America CEO Abhay Gandhi said. By bringing together Concert's talented team with Sun Pharma's global reach and commercial capabilities, this acquisition is an opportunity to bring deuruxolitinib to market globally and make a meaningful difference to alopecia areata patien

A Haryana court has sentenced to two-and-a-half years in jail two executives of a pharmaceutical company, which was recently under the scanner for alleged cough syrup related deaths in Gambia, in another case of export of sub-standard drugs to Vietnam nearly a decade ago. Additional Sessions Judge, Sonipat, Sanjeev Arya, sentenced Naresh Kumar Goel, Director of Maiden Pharmaceuticals, and Mahender Kumar Sharma, Technical Director, to jail and also imposed a fine of Rs one lakh each. The complainant, a drug inspector of the Central Drugs Standard Control Organisation (CDSCO), North Zone, Ghaziabad, had inspected the manufacturing premises of the company here to investigate the matter regarding the export of medical products from India to Vietnam in 2014. A sample of drugs was taken by the complainant during the investigation for testing and analysis. One portion of the sample was sent to Government Analyst, for a test at Regional Drugs Testing Laboratory Chandigarh in March 2014. Af

The government is taking steps to produce "high value pharmaceuticals" in the country to reduce import dependency for such critical articles, Union Minister Mansukh Mandaviya said on Tuesday. Manufacturing of components of high-end medical devices in the country will be another big step in moving towards self reliance, the Union Minister for Chemicals and Fertilisers noted. "Working on the vision of reducing import dependency through indigenous production, the government is focussing on production of high value pharmaceuticals and high-end medical devices," he said. Mandaviya said the Department of Pharmaceuticals (DoP) has released the first tranche of incentives under the Product Linked Incentive (PLI) scheme of pharmaceuticals amounting to Rs 166 crore to four selected applicants. Under the Atmanirbharta initiative of the government, DoP launched the PLI scheme for pharmaceuticals in 2021. The financial outlay under this PLI scheme is Rs 15,000 crore over a period of six years.

India's Laurus Labs Ltd reported a 32.1% rise in third-quarter profit on Monday, boosted by strong demand in its businesses that make chemicals and other ingredients used in medicines

The Mumbai-based drug maker's profit rose to 1.05 billion rupees ($12.86 million) in the three months ended Dec. 31, from 1.04 billion rupees a year ago

Will fund transaction from internal accruals

Govt finalises the draft notification issued in June

The UCPMP is voluntary and there is no legal penalty for violating the code

Company left with low-margin brands in India after selling profitable ones

The government on Friday launched diabetes drug Sitagliptin and its combinations at rates as low as Rs 60 per pack of ten, which will be sold at generic pharmacy stores, Janaushadhi Kendras. The Pharmaceuticals & Medical Devices Bureau of India (PMBI) has included new variants of Sitagliptin and its combination across its Jan Aushdhi Kendras, the Ministry of Chemicals and Fertilisers said in a statement. The maximum retail price for a pack of ten Sitagliptin phosphate tablets 50 mg is Rs 60, while the same for Sitagliptin phosphate tablet 100 mg is Rs 100. Combination of Sitagliptin and Metformin Hydrochloride tablets of 50mg/500mg is priced at Rs 65 for a pack of ten and Sitagliptin Metformin hydrochloride tablets of 50mg/1000mg strength comes for Rs 70 for the same quantity. "All these variants are available at 60 per cent to 70 per cent lesser prices than branded variants as they are available in price band of Rs 162 to Rs 258 at other medical stores," the statement said. PMBI

Vertical witnesses 25% CAGR in 5 yrs

The Hyderabad-based company claimed that BBV154 is proven to be safe, well-tolerated and immunogenic in the subjects under controlled clinical trials

More than 200,000 candidates appeared for the AP EAPCET exam this year

The product -- Ayouthveda -- has been prepared by adding time-tested herbs

Dr Reddy's Laboratories on Tuesday said it has received approval from the US health regulator to market Lenalidomide capsules

Hospitals to gain most with up to 3.5% dip on cost of funds; may add half a million beds, says rating agency

At least four companies say they are working 'very rapidly' to find a vaccine.

Experts expect change in strategy for a focus on high-margin products, rather than multiple brand launches