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
Fortis calls off demerger of diagnostics arm, SRL, citing headwinds for the sector
Fortis had approved the demerger of SRL in August 2016 to unlock value of the diagnostic business and focus on its core hospital business
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
Fortis defers Q4 results by 2 weeks, says it needs time to consider internal investigation report
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 auditors
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
BUSINESS
Govt to not push compulsory use of generic drugs in NHPS, say sources
Despite being gung-ho about the NHPS bringing in more sales, the pharma industry is equally worried about the government using low-cost generic drugs to cut down on the cost of the scheme.
BUSINESS
How Natco defied the odds to rise up India's pharma ladder
Copaxone is expected to deliver another windfall in FY19 for Natco, before tapering-off slowly in FY20 with the launches from other generic rivals.
BUSINESS
Pharma weekly wrap: Fortis re-opens bid process, Delhi govt proposes price caps; cos report Q4 earnings
Fortis board shortlisted four interested parties Munjal-Burmans, IHH Healthcare, Manipal-TPG and Radiant Life Care to participate in the bidding process.
BUSINESS
Delhi govt proposals to rein-in pvt hospitals may hit legal road blocks
Analysts say some of Delhi government proposals may hit a legal stalemate as they may not fit in well with the Delhi Nursing Homes Registration Nursing Act, 1953 until unless it is suitably amended and even expressed doubts whether it will get nod of Lieutenant Governor.
BUSINESS
Fortis board shortlists four bidders to participate in the sale process
Following due diligence, the bidders will have to submit bids by June 14
BUSINESS
Lupin launches specialty women health drug Solosec in US
Analysts estimate the drug to hit peak sales of USD 100 million per annum in next four years
BUSINESS
Fortis postpones Q4 earnings citing deliberations over outcome of internal investigation
Fortis' Q2 and Q3 earnings were reported together after getting delayed several times as the statutory auditor refused to sign the accounts.
BUSINESS
Indian drug cos scramble to comply with new data regulation in EU, the second largest market for exports
EU is second largest destination for pharmaceutical exports constituting about 12 percent of total Indian pharmaceutical exports of USD 17.27 billion in 2017-18
