BUSINESS
Proxy firm SES raises concerns over Apollo Hospitals’ plan to sell pharmacy business to subsidiary
SES concerns pertain to conflict of interest in the related-party transaction, valuation discovery, and interests of minority shareholders.
BUSINESS
Drug companies see US sales plunging in Q1FY22 amidst pricing pressure, lack of new approvals
Strides Pharma, Cipla among the companies. Strides Pharma reports net loss of Rs 21.23 crore in the first quarter of FY22. MD & CEO says firm has not seen the kind of price erosion it has seen in Q1FY22.
BUSINESS
Cadila Healthcare Q1 net jumps 29%, led by domestic formulation sales
Total income from operations for the quarter was Rs 4,025 crore, up 15 percent on a YoY basis. Earnings before interest, depreciation and tax (EBIDTA) for the quarter was Rs 933 crore, up by 18 percent YoY.
BUSINESS
Metropolis says may outperform FY21 EBITDA margins, as led by recovery of non-COVID testing
COVID-19 testing contributed about 19 percent to Q1 FY22 revenue, but this stream is now declining and other tests will drive growth in the rest of the fiscal year, the MD of Metropolis Healthcare says
BUSINESS
Max Healthcare posts net profit of Rs 205 crore for Q1FY22; shares hit record high
While Max Healthcare has benefitted on low base in Q1FY21, but even on QoQ basis, the numbers were strong with revenues growing at 19 percent and net profit by 89 percent.
BUSINESS
Serum Institute to provide complimentary Covishield doses in CII vaccination drive
Serum Institute’s contribution will be 1,200 doses free contribution upon order of a minimum of 24,000 doses.
BUSINESS
Cipla CFO says drug maker to outperform domestic market in FY22, Moderna vaccine import may take time
In an interview to Moneycontrol, Cipla's Global Chief Financial Officer Kedar Upadhye expressed confidence that the company will outperform domestic formulation market and clock EBITDA margins of 22.5–23 percent for FY22.
BUSINESS
J&J says premature to give India rollout date for its single-shot COVID-19 vaccine
Sources say that the company is in talks with Indian authorities for permission to import the vaccine and for legal protection against any product liability claims arising out of unexpected serious adverse events
BUSINESS
Moderna makes windfall in Q2CY21 on COVID-19 mRNA vaccine, will the jab come to India?
On the capacity front in 2021, Moderna expects to produce 800 million to 1 billion doses, and 2022 it plans to triple that capacity.
BUSINESS
Cipla posts 24% YoY net profit growth in Q1FY22 led by core therapies, COVID portfolio
India business that includes branded formulations, trade generics and consumer health grew by 68% YoY to Rs 2,710 crore driven by volume growth in core therapies and support from existing and new introduction in covid portfolio through the second wave. In addition, acute and respiratory nebulization recovered well for the company.
BUSINESS
Bharat Biotech says Covaxin made at its Malur, Ankleshwar facilities will be available from September
Bharat Biotech said it had supplied 70 million doses to date.
BUSINESS
Is govt going back on vaccine policy by tapping into 25% jabs reserved for private hospitals?
According to the new vaccination policy, the Centre will directly procure 75 percent of doses from vaccine companies and distribute them among states to be administered free. Private hospitals now have exclusive access to the remaining 25 percent, but they have to place orders for vaccines through state governments.
BUSINESS
Krsnaa Diagnostics IPO opens today: All you need to know about its business model
Krsnaa Diagnostics IPO: Krsnaa had revenues of Rs 396.5 crore in FY21, about 60 percent from pathology and the rest from radiology (or imaging). Krsnaa, unlike other diagnostic chains, depends disproportionately on public private partnership (PPP) tenders of state governments, which is a high volume, low-value business model.
BUSINESS
IPO-bound Windlas Biotech plans to build CDMO injectable biz, trade generics
Hitech Windlas, Managing Director of Windlas Biotech in an interview to Moneycontrol said the company plans to use about 50 crore of the proposed IPO proceeds as capex to build new injectable unit at Dehradun Plant-II, about 20 crore will be for debt repayment, the remaining for working capital and general corporate practices.
BUSINESS
J&J committed to launch single-dose COVID-19 jab in India, talks with Centre progressing
J&J said that there was no link between indemnity and the withdrawal of its application for bridging study.
BUSINESS
Krsnaa Diagnostics to be debt free after IPO, expects more govt tenders
Unlike other diagnostic chains, Krsnaa depends heavily on PPP tenders of state governments, which is a high volume, low value business model that is working very well for the company
BUSINESS
Laurus Labs to focus on non-HIV drugs to drive future growth
"Over the next 3-4 years, we will diversify our entire business from ARV focussed API and formulations to broadly diversified revenue. No therapy will contribute significantly from 2025," said Satyanarayana Chava, Founder and CEO of Laurus Labs in an interview to Moneycontrol.
BUSINESS
Bharat Biotech's Rotavirus vaccine new formulation gets WHO prequalification
ROTAVAC-5D is low dose volume (0.5 mL) facilitates easy vaccine logistics, cold chain management and low biomedical waste disposal post-vaccination, Bharat Biotech said.
BUSINESS
Lupin acquires Melbourne-based drug maker SCP to bolster Australia generics business
As a part of the transaction, Lupin will gain access to over 60 registered products having sales of over AUD 30 million
BUSINESS
Eris Lifesciences on the lookout for acquisitions of brands, product portfolios
The company shortlists therapy segments such as cardio, diabetes, vitamins, neuro, dermatology and women's health for buyouts. COO says there are opportunities coming from multinationals and large domestic companies.
BUSINESS
Roche launches Evrysdi, the only approved drug to treat Spinal Muscular Atrophy
Evrysdi, a breakthrough orally administered treatment for SMA patients, was first approved by the USFDA in August 2020 and is made available in India within 11 months of US approval.
BUSINESS
Govt says was able to squeeze 4.1 million extra doses of COVID vaccine in May-July from vials
Tamil Nadu, West Bengal and Gujarat are the three states that have extracted maximum number of doses at 0.6 million, 0.5 million and 0.46 million, respectively.
BUSINESS
Laurus Labs Q1FY22 net profit surges 40% to Rs 241 crore, led by anti-HIV formulation sales
The earnings before interest, tax, depreciation and ammortisation (EBITDA) margins expanded 210 basis points YoY to 31.3 percent; however, on sequential basis (QoQ), Laurus' EBITDA margins were down by 250 basis points.
BUSINESS
Diabetes cure: USFDA approves Biocon's long-acting insulin Semglee as first interchangeable biosimilar product
Diabetes cure: USFDA’s designation of Semglee (insulin glargine) as interchangeable with Lantus (insulin glargine of Sanofi) means that Semglee may now be substituted for the reference product at the pharmacy without the intervention of the prescriber.
