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Finance Minister Nirmala Sitharaman on Wednesday said that a new programme to promote research and innovation in pharmaceuticals will be taken up through various centers of excellence. "We shall also encourage industry to invest in research and development," she said.
The medical and wellness travel industry is booming across India and is expected to reach $13 billion by 2026. Countries such as Turkey offer 70% rebate on marketing activities for medical tourism, and India should follow suit, the company said.
"The Indian Pharmaceutical industry plays a prominent role in the global pharmaceutical industry," it said adding, India is ranked 3rd worldwide in the production of pharma products by volume and 14th by value.
The tentative approval by the United States Food and Drug Administration (USFDA) has been granted under the President's emergency plan for AIDS relief (PEPFAR), Lupin said in a regulatory filing.
Private equity firm TA Associates, together with the founders of Indira IVF, have held initial conversations with potential advisers on the sale of their stakes, said the people, who asked not to be identified as the information is private.
Neglected tropical diseases (NTDs) continue to pose a significant health burden on some of the most disadvantaged communities in India, according to an expert working on the spectrum of such conditions.
Covovax, which is our Novavax product, is proven to be the best against Omicron and Omicron sub variants. It is also the only vaccine from India which is US and EMA approved, says Adar Poonawalla.
India, at present, is fully dependent on foreign manufacturers for HPV vaccines. Globally, three foreign firms manufacture HPV vaccines out of which two sell their doses in India. Each dose of the vaccine available in the market costs more than Rs 4,000, sources said.
Based out of Boston, the USAIC for the last 16 years has been organising the India-US health care summit which is attended by the who's who of the pharma sector from both India and the United States.
Company chairman Fredrik Stenmo said Medicover will use a combination of internally generated cash flows and investment from its parent company to support growth in the country.
In his video address to the National Summit on Quality of Biologicals, organised here by the National Institute of Biologicals (NIB), the minister said biological drugs have emerged as a choice of therapy along with conventional chemical drugs.
"Launch of Incovacc today is an important milestone under Atma Nirbhar Bharat efforts, Mandaviya said. "Today, 65% of vaccines for the world are contributed from India. In the global dialogue, India's manufacturing, research and innovation capabilities are admired in the world. India will not be just known for pharmacy of the world, but will be known for research and innovation too."
The healthcare company will manufacture high-quality rapid antigen test kits at its ICMR approved GMP and ISO certified facility at Vasai, near Mumbai, Maharashtra, and distribute those kits in government healthcare centres across India at an affordable rate—10 percent less than the average market rates.
The decade-old venture based out of Noida has 1500+ employees pan India. It has raised investments from the Burman Family (promoters of Dabur), founders of Healthcare at Home UK, Quadria Capital, Singapore-based healthcare fund and ABC Impact.
The announcement regarding the launch of iNCOVACC on January 26 was made last week by the company’s chairman and managing director. The nasal Covid vaccination has already received official approval for use among people older than 18 years, and it will also be given as a heterologous booster dose.
The company is recalling the affected lot due to"mismatching of the embossing on the tablets with the embossing mentioned in the package insert in the distributed bottles." Macleods manufactured the affected lot in its Baddi-based manufacturing plant in Himachal Pradesh.
Poonawalla briefed Union Health Minister Mansukh Mandaviya about the HPV vaccine in the national capital.Speaking to after the meeting, the SII CEO said, "I had come to brief the Union Health minister about it. We'll wait for the government program to roll out. Capacity is very small this year but we'll build a large capacity to take care of the entire nation's needs for next year.
"The launch of SEZABY is an exciting addition to our growing portfolio of specialty branded products in the US," Sun Pharma CEO North America Abhay Gandhi said. He further said, "As the first and only FDA-approved product for the treatment of seizures in term and preterm infants, SEZABY has the potential to make a meaningful difference in the lives of patients and their families, and we are proud to be able to provide physicians with this new treatment option."
Under the long-term agreement, Fujiflim India will provide Manipal Hospitals with a large-scale Picture Archiving and Communication System (PACS). The PACS eliminates the need for manually storing, retrieving, and sending sensitive information, films, and reports.
Amphetamine is bioequivalent to the reference listed drug product (RLD), Adderall XR extended-release capsules of Takeda Pharmaceuticals. This product will be manufactured at Granules manufacturing facility in Chantilly, Virginia, and is expected to be launched shortly, according to a company statement shared with stock exchanges.
Citing "unacceptable levels" of toxins in the products, the WHO is seeking more information about the specific raw materials used by six manufacturers in India and Indonesia to produce medicines linked to the recent deaths, as well as whether the companies obtained them from some of the same suppliers, the person said. The WHO has not named any suppliers.
Norovirus, previously known as Norwalk virus, was first identified during an outbreak of gastroenteritis in Norwalk in 1929. Gastroenteritis illness due to this virus was initially described as “winter vomiting disease” due to its seasonal emergence in winters. It is a highly contagious virus that is also known as the "stomach flu".
The company has introduced IV injection formulation Akynzeo IV in a fixed dose combination of fosnetupitant (235 mg) and palonosetron (0.25 mg) and is available as a ready-to-dilute IV injection, the Mumbai-based drug maker said in a statement.
"Our nasal vaccine will be officially launched on January 26, on Republic Day," the company's chairman and managing director Krishna Ella said said, participating in the 'Face-to-Face with New Frontiers in Science' segment of the IISF, organised at the Maulana Azad National Institute of Technology (MANIT).
As per the latest Enforcement Report by the US health regulator, Lupin Pharmaceuticals Inc, a US-based arm of the Mumbai-based drug major, is recalling the affected lot due to "Failed Impurities/Degradation Specifications: Failure observed in related substance testing during long term stability study."
Attorneys with the Justice Department's consumer-protection branch are conducting the criminal investigation, the Wall Street Journal reported on Friday, citing people familiar with the matter. "DOJ has informed us of its investigation and we're cooperating fully," an Abbott spokesman told Reuters, without commenting further on the nature of the probe. The DOJ did not immediately respond to a request for comment.
PLI scheme aims to give companies incentives on incremental sales from products manufactured in domestic units. Somani was speaking on the first day of the 72nd Indian Pharmaceutical Congress in Nagpur. The three-day event will cover various issues related to the pharmaceutical industry, academia and community pharmacy and will be attended by delegates from India and abroad.
Respondents in a survey among readers say the government should pay the medical bills in case of another Covid outbreak; a sizable number is not in favour of a lockdown like before.
Concert has pioneered the use of deuterium (a hydrogen isotope) in medicinal chemistry and has an extensive patent portfolio, including its lead product candidate deuruxolitinib - an oral inhibitor that blocks Janus kinases JAK1 and JAK2 for the treatment of baldness. Concert has completed the evaluation of the efficacy and safety of deuruxolitinib in adult patients with moderate to severe alopecia areata in its THRIVE-AA Phase 3 clinical program and two open label, long-term extension studies are ongoing in North America and Europe.
Outlining the wishlist for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain said the domestic pharma industry is currently around USD 50 billion in size and aspires to grow to around USD 130 billion by 2030 and USD 450 billion by 2047.
The Union Budget 2023-24 for the healthcare sector should be drafted keeping in mind the long-term vision for building a “Healthy India” with sustainable healthcare infrastructure and healthcare workforce. The country is recovering from the aftereffects of the pandemic and growing demand for healthcare services has underlined the need for more budgetary allocation in the healthcare sector to enhance the patient experience, attract smart investments in relevant digital health technologies, augment healthcare infrastructure, establish an ecosystem through collaboration, and develop an agile but robust governance structure.
The pandemic exposed the fragility of health systems across the globe; high income countries were as much impacted as low and middle-income countries. The Indian health system was stretched too, due to inadequate public health infrastructure, shortage of hospital beds, lack of emergency equipment and supplies (such as ventilators and oxygen), and limitations in data systems for effective decision making.
"At least 30-40 generic brands are expected to hit the market next in a couple of weeks," said Hari Natarajan, managing director, Pronto Consult, that advises pharma companies on go-to-market strategy.
The nine brands have sales of Rs 87.30 crores for FY22, which represents valuation of 3.9x of the sales of these brands in FY22. The acquired brands include antifungals Onabet, Luligee; topical steroids Halovate, Sorvate, Dosetil and Powercort, demelanising agent Demelan, vitamin-A gels - Aceret.
The company said with the device the company has expanded its product offerings for diagnostics laboratories and aims to bridge the current gap in the diagnostic ecosystem in India by providing reliable and accurate tests at affordable prices. Cippoint will allow healthcare professionals to get test results in 3 to 15 minutes, thus enabling a faster clinical decision-making process.
