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News on Medial
Aurobindo Pharma, Glenmark recall products in US
YourStory
·
7m ago
Medial
Aurobindo Pharma, Glenmark, and Zydus are recalling various pharmaceutical products in the US due to manufacturing issues. Aurobindo Pharma USA is recalling Cinacalcet tablets due to the presence of a potentially harmful impurity. Glenmark Pharmaceuticals Inc is recalling Diltiazem Hydrochloride extended-release capsules due to the presence of another impurity. Zydus Pharmaceuticals is recalling packs of Esomeprazole Magnesium for a labeling error. These recalls fall under the Class II category, meaning they may cause temporary adverse health consequences or have a remote chance of serious consequences. India is a major global supplier of generic medicines.
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Aurobindo Pharma falls after US FDA issues 3 observations on Andhra arm
Money Control
·
1y ago
Medial
The share price of Aurobindo Pharma dipped after the company received three observations from the US FDA on its Andhra Pradesh subsidiary. The observations are procedural in nature and will be addressed by the company within the specified timeframe. Aurobindo Pharma has also appointed T Vijaya Kumar as president of R&D (specialty drug delivery). Additionally, an accident occurred at one of its units, resulting in one casualty. The stock is currently trading below its 52-week high but significantly above its 52-week low.
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India's Glenmark to sell majority stake in life sciences unit for $680 mln
Reuters
·
1y ago
Medial
Indian drugmaker Glenmark Pharmaceuticals has announced the sale of a 75% stake in its unit Glenmark Life Sciences to detergent maker Nirma for INR 56.52 billion ($679.84 million). Nirma will purchase the stake at a discount of 1.8% to the unit's current market value. The deal includes a mandatory open offer to all public shareholders of Glenmark Life Sciences. Following the transaction, Glenmark Pharma will retain a 7.84% stake in the company.
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Nirma to buy Glenmark Life Sciences for 5,651 cr
Livemint
·
1y ago
Medial
Nirma Ltd has agreed to acquire a 75% stake in Glenmark Life Sciences Ltd for INR 5,651.5 crore, valuing the company at INR 7,535.4 crore. Glenmark Pharmaceuticals Ltd, the parent company, will retain a 7.84% stake in Glenmark Life Sciences. Nirma will also make a mandatory open offer to acquire an additional 17.15% stake from public shareholders. The deal is subject to regulatory and shareholder approvals. Glenmark Pharma plans to use the proceeds to reduce its debt and focus on core therapeutic areas such as dermatology, respiratory, and oncology.
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Have money to deploy today? Put it in pharma funds, says Sandeep Tandon
Economic Times
·
1d ago
Medial
Sandeep Tandon, CIO of Quant Mutual Fund, highlights India’s economic decoupling from developed markets, seeing Asia's emerging markets in a favorable position. He strongly recommends investing in pharmaceutical funds, citing the sector's resilience and strong potential, despite potential US tariff threats. Tandon underlines India's generics as a key advantage, with firms like Lupin and Aurobindo Pharma having substantial US operations, thus providing an investment 'no-brainer' during the evolving market dynamics.
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Aurobindo Pharma promoters-owned Axis Clinicals faces headwinds
VCCircle
·
10m ago
Medial
Axis Clinicals Ltd, a contract research organization (CRO) owned by the promoters of Aurobindo Pharma Ltd, has experienced a decline in revenue for the second consecutive year. The Hyderabad-based CRO reported these financial challenges for the year ending March 2024. This downturn in revenue is a cause for concern for Axis Clinicals, which provides clinical research services.
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Pharma, healthcare companies participate in electoral bonds scheme
Thehindubusinessline
·
1y ago
Medial
Several listed and unlisted healthcare and pharmaceutical companies, including Aurobindo Pharma, Mankind Pharma, Dr Reddy’s Laboratories, and Cipla, have participated in India's electoral bonds scheme. Along with vaccine companies and hospital Yashoda Super Speciality Hospital, these companies have made significant contributions through various entities. While there is nothing inherently wrong with their participation, questions regarding possible conflicts of interest and implications for access to medicines and drug price control have been raised by industry observers. The companies involved have not publicly commented on the matter.
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Glenmark gets USFDA nod for bioequivalent of drug with market size of $21.9 million
Money Control
·
1y ago
Medial
Glenmark Pharmaceuticals has received final approval from the FDA for its Topiramate Capsules USP, used to treat epilepsy and seizures. The FDA has determined these capsules to be bioequivalent and therapeutic equivalent to a drug by Janssen Pharmaceuticals. The market for Topamax capsules has shown annual sales of around $21.9 million. Glenmark Pharma's US portfolio currently has 198 products authorized for distribution, with 50 ANDAs pending USFDA approval. The company's shares have seen a 65% increase this year and have doubled over the past year, but its consolidated net loss for the March quarter has widened.
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Sanofi, CDPQ, Reliance Retail Ventures, and MoEngage in news
VCCircle
·
3m ago
Medial
Indian drugmakers Glenmark, Dr. Reddy’s Laboratories, and Emcure Pharma are reportedly in preliminary discussions to acquire Sanofi's flagship insulin brand, Lantus. Sanofi, a French drugmaker, has significantly reduced its asking price for Lantus from Rs 3,000 crore to Rs 2,000 crore. The talks are at an early stage, as reported by The Economic Times, based on information from unnamed sources.
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No structural negative in Indian pharma seen, FMCG companies chasing margin: Pankaj Pandey
Economic Times
·
7d ago
Medial
Indian pharma firms focus on specialty products, despite ongoing generic drug pricing pressures. FMCG companies are now more margin-focused, with the food segment expected to grow in double digits. Structural negatives are not anticipated for Indian pharma, although the US market poses some exposure challenges. FMCG, while facing low to moderate growth, remains a potential trading option amid global sector pressures. Hotels show revenue growth, and select auto companies like Maruti and TVS display positive developments during the festive season.
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Pharma stocks & Trump tariff fears: Healthcare index down 6% in 5 days; selloff justified?
Business Today
·
5m ago
Medial
The recent selloff in pharma stocks triggered by fears of potential US tariffs on drug imports is seen as an unjustified reaction. Analysts view the current market weakness as a buying opportunity, anticipating strong earnings growth ahead at attractive valuations. Despite concerns, shifting some pharma manufacturing to the US may not significantly impact the sector. The market outlook remains optimistic, with experts recommending investment in the resilient pharma space.
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