BUSINESS
Apollo Hospitals’ spin-off of digital-retail arm to unlock shareholder value; ‘mid-teen’ revenue growth expected from FY27: MD Suneeta Reddy
Reddy expects Apollo's core hospital services segment, which constitutes a little over half of the group’s revenue, to grow "mid-teens" in the next few years as new capacity comes online.
BUSINESS
IPO-bound Corona Remedies acquires cardiac, women health brands from Bayer
The acquisition includes cardiology brand Noklot and women’s healthcare brands Fostine, Luprofact, Menodac, Ovidac, Spye, and Vageston
BUSINESS
Dialysis chain NephroPlus to file papers for Rs 2,000-crore IPO this month
The proceeds from the first mainboard IPO in India’s fast-growing dialysis sector will be used to scale operations, including acquisitions of mid-sized firms in India and the Philippines
BUSINESS
Emcure in pact to market and distribute Sanofi's oral diabetes portfolio in India
The partnership will see Emcure leverage its extensive network to distribute and promote well-established Sanofi brands such as Amaryl (glimepiride) and Cetapin (metformin).
BUSINESS
Biocon Biologics gets USFDA nod for rapid-acting insulin
The US diabetes market presents a substantial opportunity for Biocon Biologics, with 38.4 million people living with diabetes
BUSINESS
This deal will hopefully inspire other companies to invest more in innovation: Glenn Saldanha
China has achieved a lot, largely due to immense government support. Here, it's largely the private sector
BUSINESS
Glenmark to focus on innovation and therapeutic specialisation
'We are just trying to regroup. One wrong move takes you back by four or five years,' Glenn Saldanha said, emphasising caution in deploying the AbbVie funds
BUSINESS
Glenmark to double down on innovation with multispecific antibody pipeline against cancers
Chairman and Managing Director Glenn Saldanha said on Monday that the company has several assets under development, including two disclosed candidates—ISB 2001 and ISB 2301—both emerging from its proprietary BEAT platform.
BUSINESS
Sun Pharma settles patent litigation with Incyte, paving way for launch of anti-baldness drug LEQSELVI
As part of the agreement, Incyte has granted Sun Pharma a limited, non-exclusive license to US Patent Nos. 9,662,335 and other related patents.
BUSINESS
Glenmark’s R&D bet pays off handsomely with AbbVie deal, vindicating backer-in-chief Saldanha
'We’ve gone through blood, sweat, and tears to get here. This validates everything we’ve built,' Saldanha says as Glenmark Pharmaceuticals arm signs global licensing deal for cancer drug
BUSINESS
IPO-bound Anthem Bio says cost arbitrage drove expansion, proposing China alternative for global pharma
“We’re now the second source for many products made in China—and the first choice for new ones,” Ajay Bhardwaj, CEO and Founder of Anthem told Moneycontrol in an interview.
BUSINESS
India’s anti-obesity drug market grows fivefold in five years, led by GLP-1 therapies
Rybelsus, the oral form of Semaglutide launched by Novo Nordisk in January 2022, has grown from Rs 26 crore to Rs 412 crore, capturing a 66 percent market share.
BUSINESS
Medical devices maker Polymed eyes global expansion with new plants, strategic M&A
Polymed has set an ambitious target to grow its US revenue to ;$20-25 million opportunity' within the next three to four years, driven by new contracts and FDA approvals.
BUSINESS
Kilitch Drugs eyes Rs 1,000 crore revenue with Khopoli expansion regulated market entry
Mehta said that the Khopoli plant will enable exports to regulated markets starting FY28–29, bringing previously outsourced products in-house saving costs, and expanding the product portfolio, which will include injectables, eye drops, and chronic therapies.
BUSINESS
Delhi High Court asks drug regulator to look into concerns over approval for weight-loss drugs
A PIL has claimed that licences for these drugs were issued without adequate data or India-specific trials and studies, potentially overlooking regional health profiles and genetic factors
BUSINESS
Sigachi blast exposes recurring safety failures and worker deaths in Indian factories
While the investigation into the June 30 blast is underway, the company said on Wednesday that it was not a reactor explosion.
BUSINESS
Superhealth in talks to raise Rs 100 crore to setup hospital chain
The first Superhealth hospital is set to launch in July in Koramangala, Bangalore. The facility's core unique selling propositions include zero wait times for patients and zero commissions for doctors.
BUSINESS
Torrent Pharma expects to recover JB Pharma acquisition cost in 2.5 years from taking control
Torrent expects to reach a peak leverage of 2.8x by FY27 in a worst-case scenario, but anticipates reducing it to below 0.5x within two years post-merger.
BUSINESS
Biological E partners with China’s Recbio to manufacture HPV9 vaccine for India, global markets
Under the terms of the deal, Recbio will transfer the technology and supply the drug substance (DS) to BE, enabling the Indian firm to formulate, fill, and package the vaccine.
BUSINESS
Torrent Pharma to become India’s fifth-largest drugmaker after JB Pharma acquisition
The acquisition and subsequent merger will create a pharmaceutical powerhouse with combined revenues exceeding Rs 15,000 crore and EBITDA of over Rs 4,800 crore, based on FY25 pro forma figures.
BUSINESS
Torrent Pharma revives talks to acquire KKR’s stake in JB Pharma; deal expected soon
KKR’s stake is worth approximately Rs 13,400 crore considering the J B Pharma stock’s closing price of Rs 1,802.9 per share on June 27.
BUSINESS
Vertex Pharma's stem cell therapy may have potential to cure type-1 diabetes, shows clinical trial
During a clinical trial, around 83% (10 out of 12) of patients who received a full dose of Zimislecel achieved complete insulin independence within one year of treatment.
BUSINESS
AstraZeneca pumps in Rs 166 crore into Global Hub in Bengaluru, will add 400 new jobs
The new facility will house nearly 1300 employees, including 400 new jobs, supporting the company's capabilities in AI-powered innovation across Research and Development, Global Business Services, IT, and Digital Health operations.
BUSINESS
French drugmaker Servier targets India expansion with cancer therapies, R&D
The company is also looking to broaden generics portfolio, explore clinical trials and examine the possibility of a global capability centre, Servier India MD Aurélien Breton tells Moneycontrol
