BUSINESS
Dr Reddy's waiting for 2.7 million doses of Sputnik V 2nd jab from Russia for full rollout
"Last one week, vaccine demand has gone down by 20 percent (in Russia). We are working with RDIF to get remaining doses of imported vaccine as soon as possible," Ramana said.
BUSINESS
Granules India net profit rises 8% in Q1 FY22, margins down
Revenue from operations rose 16 percent YoY to Rs 850 crore in Q1FY22, compared to Rs 736 crore during corresponding quarter of previous year.
BUSINESS
Torrent Pharma net profit rises 3% to Rs 330 crore, aided by India formulation business
Total revenues rose 4 percent YoY to Rs 2,134 crore in Q1FY19, compared to previous year's Rs 2,056 crore.
BUSINESS
Dr Reddy's says investigating bribery allegations against it, in Ukraine and other CIS countries
"The complaint alleges that healthcare professionals in Ukraine and potentially in other countries were provided with improper payments by or on behalf of the Company in violation of U.S. anti-corruption laws, specifically the US Foreign Corrupt Practices Act," Dr Reddy's said.
BUSINESS
19 drug cocktails approved pre-1988 come under fresh review
Some popular brands facing fresh scrutiny include Piramal Enterprises' Saridon, Abbott's Phensedyl and Tixylix, Griffon's Grilinctus, Cipla’s Cofdex, Nocold and Bromolin, Glenmark’s Ascoril C, Intas' Despol and Reckitt Benckiser's D-Cold
BUSINESS
Biocon Biologics, Adagio Therapeutics sign pact for potential antibody treatment against COVID-19
Under the terms of the deal, Biocon Biologics will get access to the clinical and non-clinical data from Adagio’s EUA submission to the U.S. Food and Drug Administration to seek approvals in the emerging markets.
BUSINESS
Alembic Pharmaceuticals net profit drops 45% in Q1FY22 due to pricing pressure in US market
Revenues from operations dropped 1 percent YoY to Rs 1,326 crore in Q1FY22 compared to Rs 1,341 crore in the corresponding period of the previous fiscal.
BUSINESS
IPO-bound Glenmark Life Sciences to focus on complex bulk drugs, contract business to drive growth
The company plans to develop eight to 10 molecules each year including high-value and high-volume APIs. It is looking at participating in the government’s production-linked incentive scheme.
BUSINESS
Sun Pharma enters licensing pact to market Cassiopea's acne cream Winlevi in US, Canada
Cassiopea will receive an upfront payment of $45 million, potential commercial milestones totalling up to $190 million and customary double digit royalties. The agreements will close upon the expiration of the HSR waiting period which is 15-30 days.
BUSINESS
Bharat Biotech cancels MoUs with two Brazil firms on Covaxin supply, denies wrongdoing
However, Bharat Biotech will continue to work with Brazilian healthcare regulator Anvisa to obtain all required approvals for the use of Covaxin in the country.
BUSINESS
Jubilant Pharmova profit jumps 350% to Rs 160 crore in Q1FY22
The net profit jump was led by gradual recovery in specialty radiopharmaceutical business hit by COVID-19, traction in contract manufacturing and generics segment performing well on COVID antiviral drug Remdesivir sales.
BUSINESS
Explained | Why UK expert panel advised against giving COVID-19 jabs to all children aged 12-17
The committee said only children who are vulnerable to COVID-19 should be vaccinated. Th evidence strongly indicates that almost all children and young people are at very low risk from COVID-19.
BUSINESS
Biocon profit drops 44% in Q1FY22 due to subdued generics business, exceptional item
The core biologics segment reported revenue growth of 10 percent YoY at Rs 758 crore in Q1FY22, led by strong growth especially in India and other markets, especially biosimilars associated with Covid- care such as Itolizumab and Bevacizumab.
BUSINESS
Gland Pharma on track to start production of Sputnik V jabs by November
Technology transfer of the drug substance is under way to its dedicated unit at Pashamylaram near Hyderabad, which is ready for commercial production.
BUSINESS
Gland Pharma Q1FY22 profit rises 12% on new launches, COVID drugs Remdesivir and Enoxaparin
Revenue from operations rose 31 percent YoY to Rs 1,153.9 crore in Q1FY22 versus Rs 884.2 crore in Q1FY21.
BUSINESS
Granules clears USFDA pre-approval inspection of manufacturing site in Virginia
The facility located at Chantilly in Virginia had undergone a Pre-Approval Inspection audit by the USFDA from June 21 to 25.
BUSINESS
Syngene posts Rs 77.3 net profit in Q1FY22, gets boost from sales of COVID drug remdesivir
Revenues rose 39 percent YoY to Rs 607 crore in Q1FY22 compared to Rs 437 crore in the corresponding period of the previous year.
BUSINESS
Glenmark Life Sciences IPO to open on July 27, price band set at Rs 695 - Rs 720 apiece
The company proposes to utilise the net proceeds from the fresh issue towards payment of outstanding purchase consideration to the promoter for the spin-off of the API business from the Promoter into the company on October 9, 2018; funding the capital expenditure requirements; and general corporate purposes.
BUSINESS
Govt grants one-time exemption from revision of ceiling prices under NLEM
NLEM list is revised and the ceiling prices are fixed every five years. NLEM 2015, which was implemented from 2016 has ended in March 2021, however, sources told Moneycontrol that the deliberations for the preparing the new list was impacted due to COVID-19 pandemic.
BUSINESS
Bharat Biotech's US partner for Covaxin, Ocugen, faces class action lawsuit
Pomerantz alleges in the class action lawsuit that, the defendants (Ocugen) have made materially false and misleading statements regarding the Company's business, operations, and compliance policies.
BUSINESS
Domestic producers term trade margin cap on oximeters, BP machines and three key devices as setback to Aatmanirbhar plan
Say the move is non-transparent, biased in favour of importers and detrimental to domestic manufacturing
BUSINESS
Serum Institute hasn't applied for full marketing approval of Covishield in Europe: Sources
However, the company through its partner AstraZeneca has reached out to the European Medicines Agency in May seeking to consider SII as an alternate manufacturing site for the production of Covishield which is identical to AstraZenaca's Vaxzevria.
BUSINESS
Ahmedabad-based clinical research organisation Veeda acquires controlling stake in Bioneeds
In June this year, Veeda had received an equity investment of $16 million, led by private equity fund Sabre Partners and several HNIs.
BUSINESS
Here is what real world evidence says about efficacy of COVID-19 vaccines against Delta variant
Pfizer-BioNTech, Moderna and AstraZeneca vaccines underwent clinical trials when Delta variant didn't exist.
