The bottomline growth was impacted by Rs 81 crore exceptional item, high expenses and decline in sales across Europe, Latin America, and other markets. The expenses shot up 13.6 percent to Rs 2,152 crore on sequential basis. Here are a few key highlights from Glenmark’s Q4 earnings call.
The US Court of Appeals for the Federal Circuit has affirmed judgement in favour of Zydus Pharmaceuticals (USA) Inc, holding that its proposed generic version of Lialda does not infringe a US Patent, the company said in a statement.
Prime Minister Narendra Modi last month hinted towards a legal framework to make doctors prescribe generic drugs and the subsequent notice by MCI enforcing the same has sent medical community in the throes of a debate.
In a BSE filing, the company said it has received abbreviated new drug application (ANDA) final approval for olmesartan medoxomil tablets - 5 mg, 20 mg, and 40 mg.
"Doctors write prescription in such a way that poor people do not understand the handwriting and he has to buy that medicine from private stores at high prices,’’ said Prime Minister Narendra Modi , while inaugurating a multi-specialty hospital in Surat on Monday.
The drug is being evaluated for the treatment of moderate-to-severe plaque psoriasis, the two companies said in a statement.
Drug firm Alkem Laboratories today said the US health regulator has inspected its Baddi plant and issued three observations on account of violation of good manufacturing norms.
Glenmark said it plans to initiate clinical development with a phase two study of GSP 304, a new orally administered formulation, in subjects with mild to moderate COPD, as determined by the Global Initiative for Chronic Obstructive Lung Disease (GOLD) criteria.
The pharma major announced a dividend of Rs 3.25 a share; it even received a nod from US FDA for a drug that is used to treat spasticity in relaxing muscles
"I am working on a new system where there will be competition in the Drug Industry. Pricing for the American people will come way down!" Trump said in a Twitter post.
The company "announced today the launch of generic paxil CR extended release tablets, 12.5 mg, 25 mg and 37.5 mg, having received an approval from the United States Food and Drug Administration (FDA) earlier", Lupin said in a BSE filing.
The regulator has been fixing and revising the prices of drugs, and by January this year, when it had slashed the prices of 33 drugs, over 620 drugs had been placed under the price control sine April 2016.
Biocon Chief Kiran Mazumdar Shaw says India is not an outsourced services country anymore, it is an innovation and knowledge partner.
In a BSE filing, Lupin said "its Japanese subsidiary Kyowa Pharmaceutical Industry Co, Ltd and Astellas Pharma Inc have entered into an agreement providing Kyowa the exclusive right to distribute and promote extended-release tablets of quetiapine fumarate in Japan".
Pfizer Inc on Thursday said it received subpoenas from the U.S. Attorney's Office for the District of Massachusetts related to the drugmaker's support for organizations that provide financial help to Medicare patients.
Cipla is now concentrating on specific areas for growth. In emerging markets, Brazil and China are its priority markets, where measured approach will be taken, Umang Vohra, Managing Director of the company.
The government today made it mandatory for stent makers to maintain production and supply of coronary stents by invoking an emergency clause under drug price control law citing reports of shortage in market.
Biocon Thursday announced the US Food and Drug Administration has accepted Mylan‘s Biologics License Application (BLA) for biosimilar chemotherapy drug Pegfilgrastim for review. Sharing details on the development with CNBC-TV18 Biocon Chairperson and Managing Director Kiran Mazumdar Shaw said, "This is a very important acceptance."
According to average of estimates of analysts polled by CNBC-TV18, revenue during the quarter may increase 11.6 percent year-on-year to Rs 7,905.3 crore, driven by Sun's authorised generic (AG) launches of Daichi Sankyo drugs in US.
Global drug major Novartis has invested, expanded its research & development (R&D) capabilities in India. The global leader in biosimilars through its subsidiary Sandoz is assessing Indian market dynamics to launch its portfolio.
Trump urged US drug industry executives in a meeting last month to make more drugs locally, and lower drug prices. He has also proposed to impose a penalty in the form of a 'border tax' on US imports, a move heavily criticised by several industries.
The company had posted a consolidated net profit of Rs 123.01 crore in the same period last fiscal, Jubilant Life Sciences said in a BSE filing.
Drug firm Divis Laboratories today reported a 8.73 per cent rise in standalone net profit to Rs 268.32 crore for the quarter ended December 31, 2016.
However through direct price negotiations, a government agency will be able to leverage its purchasing power to lower drug costs. The agency already has an indirect negotiating mechanism, and in case of generics /specialty drugs (which impact Indian companies most at this time).
Shares of Cadila Healthcare fell 7 per cent after the drug firm reported a 34.58 per cent dip in consolidated net profit for the December quarter.