The committee will look at the claims made by the respective companies on any additional therapeutic claims made by companies on new drugs, and provide a recommend separate ceiling price of the scheduled formulation or retail price of a new drug.
The BSE Healthcare index dropped 2.4 percent in the past week, while the BSE Sensex declined 1.3 percent
In separate notifications, the drug price regulator said it has notified ceiling prices of 13 formulations, while revising the same for 15 formulations.
The CDSCO started the probe after receiving a complaint from another pharma company that is carrying out clinical trials for the same drug and awaiting a launch.
"Alvogen has received final approval and is the first to market generic equivalent to oseltamivir phosphate, 6 mg/ml powder for oral suspension in the United States," Natco Pharma said in a regulatory filing.
The company said it is holding extraordinary general meeting of its shareholders on November 29 to ratify the fund raising proposal.
Pharma major Lupin has received final approval for its carbidopa tablets, used for treatment of idiopathic Parkinson's disease, from the United States Food and Drug Administration (FDA).
Chemicals and Fertilisers ministry in a statement issued last week had said that the Department of Pharmaceuticals (DoP) is considering a change in the method of approving prices of new drugs.
The drug will be manufactured at the group's formulations manufacturing facility at Moraiya in Ahmedabad, it added.
Cadila Healthcare, Dr.Reddy’s, Aurobindo are the companies to watch out for with half of their revenues coming from US.
The company has received approval from the US Food and Drug Administration (USFDA) to market the fesoterodine fumarate extended release capsules in strengths of 4 mg and 8 mg, it said in a BSE filing.
The approval late on Tuesday by the U.S. Food and Drug Administration came earlier than both companies had expected. It was issued a day after the health regulator said it would introduce measures to speed to market generic versions of complex drugs like Copaxone to help address the rising cost of pharmaceuticals.
Prime Minister Narendra Modi's government has in recent months slashed prices of medical devices such as knee implants and heart stents by up to 75 percent to make them more affordable.
The move comes almost a month after Abbott announced that it has halted sales of the next-generation dissolvable stents due to low commercial sales of the product.
The company has received EIR from the United States Food and Drug Administration (USFDA) based on the successful inspection of the active pharmaceutical ingredients (API) manufacturing facility at Alathur, Orchid Pharma said in a filing to BSE.
While acknowledging strict regulatory environment, he added that the company's pipeline of specialty products, to be rolled out over the next 3-4 years, is expected to act as a defence against generic price erosion and increase in competition, and boost profitable growth.
Sun Pharmaceuticals and Dr Reddy’s Laboratories gained around 2 percent intraday.
"Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (US FDA) for Propafenone Hydrochloride extended-release capsules USP, 225 mg, 325 mg, and 425 mg," Glenmark Pharmaceuticals said in a BSE filing.
The scope of the study by the regulator will only be limited to Delhi, Gurgaon, Faridabad and Noida for now
The pharma sector saw a sharp recovery towards the end of the week with gains of 3% as discussion on new pharma policy got postponed in India. There was some positive momentum in liquor stocks after the Supreme court clarified that the liquor ban near highways does not apply within city limits.
The drug is intended to be used for treatment of moderate to severe plaque psoriasis.
The new ministry could be named Ministry of Pharmaceuticals and Medical Devices, Minister of State for Chemicals and Fertilisers Mansukh L Mandaviya said in a written reply in the Lok Sabha.
Another tough past week for pharmaceutical stocks, many have sunk on weak Q1 results due to destocking of channel on account of GST rollout and US pricing pressures
While such rules are common elsewhere in the world and adhered to by large pharmaceutical companies, they are not set in stone in India, where campaigners have long demanded a crackdown on unethical selling practices. These have included gifts ranging from electrical appliances to foreign junkets to encourage doctors and pharmacists to prescribe and stock certain medications.
"The company has received approval from the United States Food and Drug Administration (USFDA) for its ANDA for Doxycycline capsules USP 75 mg and 100 mg," Alembic Pharmaceuticals said in a BSE filing today.