BUSINESS
Amar Ujala group to set up chain of hospitals in North India
Amar Ujala group, the publisher of leading Hindi daily Amar Ujala said it will be investing Rs 200 crore in setting up chain of hospitals in tier-2 and tier-3 towns of North India
BUSINESS
Fortis to decide on bids anytime this week, IHH may emerge frontrunner
An official of Fortis said the board is yet to take a call and a final decision on the bids could be expected by Friday
BUSINESS
Fortis releases audited Q4 and FY18 results, auditor raises red flags
The beleaguered healthcare provider, as per the audited financial statement, reported a loss of Rs 932 crore for the fourth quarter ended March impacted by continuing business challenges, impairments and provisions
BUSINESS
IHH Healthcare, Manipal-TPG submit fresh bids for Fortis
It is yet not clear if the Munjal-Burmans consortium has put in a bid
BUSINESS
Download now! This app by NPPA helps you check approved prices of medicines
NPPA will initiate action on any complaint within 48 hrs of its receipt
BUSINESS
Pharma industry recovers from GST pangs, poised for double digit growth
The transition to GST hasn't been smooth for the industry, as pharma supply chains have gone through unprecedented disruptions.
BUSINESS
US court extends restraining order on DRL for selling Suboxone
Indivior, the innovator of the drug, had moved an injunction motion against Dr Reddy's to block the company from selling generic Suboxone in US
BUSINESS
Delay in declaring audited numbers, Singh bros' claim on brands spook Fortis bidders
"We knew much of what has been disclosed by the company as part of earnings, but we will take comfort only if it has a seal of the statutory auditor," said a bidder
BUSINESS
More skeletons in the Fortis closet, as Singh bros claim ownership of Fortis brands
The company got four notices, of which two notices on May 30 and June 1 claiming Rs 18 crore from Fortis, and two more notices on June 4 demanding Rs 215.82 crore and Rs 19.62 crore respectively.
BUSINESS
Luthra & Luthra report points to systemic lapses, override of controls in Fortis under Singh bros
Luthra & Luthra was appointed by Fortis board in February to carry out independent investigation to find out if there are any lapses of company’s control procedures and governance after details emerged in public alleging the erstwhile promoters took out around Rs 494.14 crore through ICDs.
BUSINESS
Fortis posts Rs 932 crore net loss in Q4 due to massive provisions and impairments
Results are unaudited and not yet signed by the statutory auditors. Provisions in Q4 FY18 were related to certain amounts totaling to around Rs 580 crore due to the company, recoverability of which is doubtful
BUSINESS
Pharma weekly wrap: NHP report points to gaps in govt spending on health, infrastructure and human resources
India spent 1.02 percent of its GDP (2015-16) as public expenditure on health, lower than what Bhutan and Sri Lanka spend.
BUSINESS
Possible sale of Complan, Horlicks casts spell on Rs 7,000 crore malt-based health drinks market
Health Food Drinks as a category have been growing at a slow pace in India due to rising competition and consumers making informed choices.
BUSINESS
Burmans-owned Healthcare at Home rides on rising demand for home ICU services
The home ICU business grew 400 percent in FY18 as more patients and their families prefer to have ICU at homes
BUSINESS
Indian pharma cos may soon find a way to the lucrative Chinese market
Currently it takes around five years to get an approval in China, while Indian drug regulator approves drug product within 3-6 months.
BUSINESS
Top selling drugs face patent expiration between 2018 and 2024, sales worth $251 bn at stake: Report
This news is a setback for big pharma companies as they were getting over the patent cliff but could be music for Indian drug makers who are in a race to launch copycat drugs.
BUSINESS
Sun Pharma’s Halol EIR, no respite in Fortis saga were key highlights of this week
The BSE Healthcare index gained 6.28 percent in the past week, while the benchmark Sensex increased 0.42 percent
BUSINESS
US court restrains Dr Reddy's from selling generic de-addiction drug Suboxone
The court has scheduled an expedited hearing of the preliminary injunction on June 28, and a ruling is expected soon thereafter
BUSINESS
How Sun Pharma managed to get its Halol facility off the USFDA hook
Analysts estimate the upside, from Halol facility, on FY19 revenues to be in the range of USD 100-150 million with pending approvals gaining momentum
BUSINESS
Dr Reddy's gets USFDA nod to launch generic Suboxone, opts for 'at risk' launch
The Suboxone brand had US sales of around $1.86 billion for the 12 months ended April 2018, according to IQVIA.
BUSINESS
DCGI asks retailers to have separate racks to sell generic drugs, trade groups are not amused
The All India Organisation of Chemists and Druggists (AIOCD), the trade body representing pharmacy retailers and wholesalers, said the advisory of the DCGI may not be binding, as there is no law to provide separate storage space for generic drugs.
BUSINESS
Sun Pharma gets EIR for crucial Halol plant, US sales to get boost
The EIR will allow Sun Pharma to restart supplies from the Halol facility to US, its largest market.
BUSINESS
Statutory auditor holds signing of Fortis Q4 accounts for want of more information
Fortis' board did not disclose any details of the internal investigation report, but said it had shared the findings of Luthra & Luthra with the statutory auditor.
BUSINESS
Pharma wrap: NHPS package rates spook private healthcare providers
"It appears that overall, no scientific basis has been applied to arrive at the rates," AHPI said
