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The active pharmaceutical ingredients (API) maker is also backed by ace investor Rakesh Jhunjhunwalal who died on Sunday. Jhunjhunwala holds over 24% stake in the firm through its investment arm Rare Enterprises
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"The 35 APIs are being manufactured from 32 different manufacturing plants. This will give a boost to AatmaNirbhar Bharat,” Mansukh Mandaviya, the Minister of Health & Family Welfare and Chemical and Fertilisers, told reporters.
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In a letter to company’s Managing Director Narayanan Govindarajan, the US health regulator noted that its inspectors during an inspection between August 2-12, 2021, found significant deviations from standard manufacturing practices for active pharmaceutical ingredients (API) at the company’s Doultabad-based plant.
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CVC’s India portfolio includes Bengaluru-based HealthCare Global Enterprises, the country’s largest cancer care provider, and UnitedLex, a legal services outsourcing firm. Earlier on July 12, Shilpa Medicare had approved the transfer of its API business to a wholly owned subsidiary via a slump sale.
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As per data maintained by Directorate General of Commercial Intelligence and Statistics (DGCIS), the quantity of API imports were at Rs 3,90,476 MT and exports were at 3,24,331 MT for FY 2020-21, he added.
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Though India is known as the pharmacy of the world for its massive production capacities of both generic drugs and vaccines, China accounted for half of its API needs in 2019 from nearly nothing three decades ago, industry data shows.
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Sharing information with shareholders in company's annual report for 2019-20, the drug firm said the ongoing coronavirus pandemic calls for concentrated efforts to build upon capacities for active pharmaceutical ingredients (APIs) in the country.
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R&D/clinical trial services performed in India are liable to service tax at the rate of 15% even when the recipient of service is situated outside India. To lower the cost of provision of such services and to boost innovation in the country and make such services globally competitive, it is important to provide for some sort of exemption.
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Hikal Ltd today said its active pharmaceutical ingredients and intermediates manufacturing unit at Bengaluru has been successfully inspected by the US health regulator.
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In an interview to CNBC-TV18, SP Tulsian of sptulsian.com shared his reading and outlook on the market as well as on specific stocks.
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The leading player in developing generic Active Pharmaceutical Ingredients (APIs) aims to utilise the net proceeds from the fresh issue towards pre-payment of term loans and general corporate purposes.
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In 2015-16, India imported APIs worth Rs 13,853.20 crore, 65.29 per cent of the total import, Minister of Chemicals and Fertilisers KVP Ramachandra said in Rajya Sabha.
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Sharon Bio Medicine shares were locked at 20 percent upper circuit at Rs 10.16 on Tuesday after the company received approval from the US health regulator for its plant based in Maharashtra.
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In an interview to CNBC-TV18, Mahendra Patel, MD of Lincoln Pharmaceuticals spoke about the results and his outlook for the company.
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"Today patients undergoing anti-HIV treatment have to take a lot of drugs every day. Our preparations will meet the expectations of Russian patients and will solve this problem," Nacimbio CEO Nikolay Semenov said.
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An inspection was conducted by the USFDA in two of its facilities recently -- the Active Pharmaceutical Ingredients (API) manufacturing facility at Manali, near Chennai, and the Pharmaceutical Formulations facility at Kothur, near Hyderabad, in early February and March respectively, Natco said in a statement.
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Drug firm Alkem Labs said one of its manufacturing plants in Gujarat has obtained the
Establishment Inspection Report (EIR) "approval" from US health regulator USFDA.
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The US government‘s decision to not allow overseas pharmaceutical companies to import active pharmaceutical ingredient (API) applies to only one particular anti retroviral drug and is not a blanket ban, Biocon CMD Kiran Mazumdar-Shaw said.
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Mankind Pharma recently launched anti-diabetic drug Gliptin under the brand name 'Dynaglipt' at Rs 8.5 per tablet for the patients and expects diabetes segment to contribute Rs 200 crore to the company's expected revenues of around Rs 4,200 crore for the fiscal.
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"The company has temporarily suspended the production, as directed by the government authorities," the company said in a filing to BSE.
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The Hyderabad-based company said US Food and Drug Administration (USFDA) has approved its abbreviated new drug applications (ANDA) for Ibuprofen tablets in strengths of 400 mg, 600 mg, and 800 mg.
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The company's board, which met on Tuesday, decided to delist equity shares of the company from ASE, Cadila Healthcare said in a filing to the BSE.
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Nutraplus Products focuses exclusively on contract research and manufacturing services (CRAMS) of active pharmaceutical ingredients (API), specialty chemicals and intermediaries. CRAMS is the core business of the company. Mukesh Naik, MD of Nutraplus Products shared his outlook for the company going forward.
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Kopran allotted equity shares and warrants worth Rs 27.72 crore to its promoter group company.
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Toansa is the fourth unit of the company that is banned and added to consent decree. With this, all of the company's India-based plants supplying to US are banned.
