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Both the entities have entered into definitive agreements for the transaction involving a total consideration of Rs 1,872 crore. Panacea Biotec Pharma Ltd is a wholly-owned subsidiary of Panacea Biotec.
BBL said the cash payment of $2 billion to be funded by $800 million raised through equity infusion in BBL and the remainder to be funded by debt, additional equity or a combination.
The last date for submitting expression of interest (EoI) was January 31. This was later extended till February 28. In a notice on its website, DIPAM said in view of further requests received from the interested bidders to extend the deadline, the last date for submission of EoI has been extended till March 14.
Covovax is manufactured by technology transfer from Novavax and is approved by the European Medicines Agency for conditional marketing authorisation and also granted emergency use listing by WHO.
The Department of Investment and Public Asset Management (DIPAM) had initially on December 14 invited preliminary bids for selling the government's 100 per cent stake in the health sector CPSE.
The Union government must establish more medical colleges. They discount the fact that the size of the problem goes beyond the capacity of the government — fiscal and administrative. Enlisting the support of the market is necessary for India to have a shot at meeting the doctor deficit.
According to the latest enforcement report issued by the US Food and Drug Administration (USFDA), the US-based arm of Aurobindo Pharma is recalling 1,15,776 bottles of Moxifloxacin Ophthalmic Solution, an antibiotic used in the treatment of bacterial infections.
Speaking at a webinar on the Union budget announcements on the health sector, Modi suggested that state governments should also formulate "good policies" for land allotment for medical education so that India could produce a large number of doctors and paramedics to fulfill even global demand.
"Data shows that in people who have taken Covishield, the protein vaccine Covovax works better as a booster than another dose of Covishield. In spite of being made and licensed in India, it has not been approved as a booster," said Shahid Jameel, virologist and director of Trivedi School of Biosciences at Ashoka University.
In its meeting held this week, the SEC granted approval to the company to conduct bioavailability and bio equivalence (BA/BE) studies. “Cipla will carry study on 44 participants and soon share data with the regulatory authority,” a government official said.
India exported over USD 181 million worth of pharmaceutical goods to Ukraine in FY 21, nearly 44 per cent growth over the previous year, while Russia contributed nearly USD 591 million last fiscal with a growth of 6.95 per cent compared to a year before, according to Pharmaceuticals Export Promotion Council of India (Pharmexcil), body under the Department of Commerce.
At a time when the local market is assuming the centre stage of the growth strategy for Indian pharma companies, multinational drugmakers are restructuring their businesses in India - by selling brands, closing non-core units, or laying off employees.
The Supreme Court said pharma companies cannot claim tax exemption against freebies handed out to doctors as it is not allowed under current rules. M/s Apex Laboratories had argued that the rules barred doctors from accepting freebies but there is no such bar on pharma companies gifting them.
The appeal comes ahead of talks on TRIPS waiver at the World Trade Organisation (WTO) this week. A TRIPS waiver would temporarily lift patents and other intellectual-property (IP) monopolies on the much-needed Covid-19 vaccines, treatments, tests and other medical facilities.
Sudarshan Jain, secretary general of IPA, in an interview to ET said "We are not against price controls; what we are saying is that the government should exclude low-priced scheduled products from price control or allow at least 10% annual hike as it is done for non-scheduled formulations," Jain said.
Based on a sample of people from various countries, "we are not seeing a difference in severity of BA.1 compared to BA.2," Maria Van Kerkhove, a senior WHO official, said in an online question and answer session.
"BE received the approval for restricted use in an emergency situation in adolescents aged 12 to less than 18 years based on interim results (of the ongoing phase 2/3 clinical study)," the company said in a statement.
In GE Healthcare's total sales in India, 31% of the products are locally manufactured. More than 90% of the company's diagnostic cardiology products are made in India, while affordable care products in the maternal and infant care segment are designed, developed and made in the country.
Dr Reddy's said the divestment of brands from its non-core areas will allow the company to focus its resources and capabilities on its key therapy spaces of gastroenterology, pain management, cold and flu, allergy, oncology, neurology, paediatrics and women’s health.
Strides Pharma Global Pte Ltd Singapore has received approval from the US Food and Drug Administration (USFDA) for the medication, the company said in a statement. The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Symmetrel Capsules, 100 mg, of Endo Pharmaceuticals, Inc (Endo).
At a post-Budget interaction of the industry with Finance Minister Nirmala Sitharaman, lobby grouping CII President T V Narendran said the spending on healthcare, though higher than in the past, is 1.3 per cent of GDP, while the expectations are that the government should spend over 3 per cent.
The contract is for an initial period of two years, with an option to extend further. The partnership will see it employ over 2,000 people, who will work from home across the UK.
The Phase III trial results of Hetero's Movfor (Molnupiravir), presented at the Conference on Retroviruses and Opportunistic Infections (CROI) demonstrated that Molnupiravir along with Standard of Care (SOC) reduced the risk of hospitalisation by over 65% compared to SOC alone.
Covaxin has already been granted Emergency Use Listing (EUL) in 13 countries as on January 31 according to the WHO. Covaxin was granted EUL by the national regulator, Drugs Controller General of India (DCGI), in the age group 12 to 18 years on December 24, 2021.
The results, presented as an Oral Abstract at the Conference on Retroviruses and Opportunistic Infections (CROI) held virtually February 12-16, 2022, demonstrated that Molnupiravir along with standard of care (SOC) reduced the risk of hospitalisation by over 65 per cent compared to SOC alone.
To achieve the objectives under 'Heal by India', the official from the Ministry said that the government of India is also working on assets like well-qualified faculty, no language barrier, availability of advanced technology, positive government policies etc.
According to an Insacog member, the new Deltacron variant which has been seen in some countries has not been found so far in India. However, there were some cases of mixed infection due to the Delta and Omicron variants.
In view of the current availability and estimated requirement of syringes for Covid-19 vaccination and Universal Immunisation Programme, it has been decided to postpone the supply schedule of syringes
The supplemental adolescent approval enhances Solosec's strong position as the first and only single-dose oral prescription antimicrobial agent approved for the treatment of both trichomoniasis and BV.
