Pharma Sector
Demand for high-skill talent on contract grows by 105% in last 12 months: Report
According to tech-led enterprise gig platform Awign, about 85 per cent of the overall demand coming from enterprises has been for gig talent in tech roles which include roles of full stack developers, data scientists, React and Java developers, mobile app developers, and cloud engineers.
Diabetes care platform BeatO raises $33 mn led by Lightrock India
The fresh funding will be used to scale BeatO's platform, continue to invest in its product and technology, and to strengthen the reach of its evidence-based care programmes, it said in a statement. Founded by Gautam Chopra, Yash Sehgal and Kunal Kinalekar, BeatO provides an affordable, comprehensive and patient-centric digital solution to millions of people with diabetes who have limited access to good quality and continuous care.
Loan app scam: Rs 500 cr sent to China; 22 Indians arrested
The arrested individuals were working on behest of Chinese nationals. Deputy Commissioner of Police KPS Malhotra said that hundreds of complaints were received by Delhi Police that instant loan applications are disbursing loans at higher rates and even after payment of loan, they are extorting money using the morphed nude pictures. "The IFSO took cognizance of the same and started analysing the complaints during which it was found that more than 100 such apps are involved in the loan and extortion racket," Malhotra said.
India's Pharma exports grow 103% in 8 years
The exports achieved in 2021-22 is the Pharma Sector's best export performance ever and is a remarkable growth with exports growing by almost USD 10 billion in eight years, said Ministry of Commerce & Industry in a statement on Sunday. Highlighting the achievement in a tweet, the Union Minister of Commerce and Industry Piyush Goyal said: "India's booming drugs & pharmaceuticals exports more than double in 2021-22 compared to 2013-14. Under the active leadership of PM @NarendraModi ji, India is serving as 'Pharmacy of the World".
Aurobindo Pharma acquires domestic formulations biz of Veritaz Healthcare
Global pharmaceutical company Aurobindo Pharma on Monday said it has acquired the domestic formulation business of Veritaz Healthcare on a slump sale basis. According to the company, the transaction is agreed at a consideration of Rs 171 crore on a debt-free cash-free basis. "The transaction comes into effect from April 1, 2022 and is expected to close by May 2022," Aurobindo Pharma said in a statement.
Booster dose: India's pharma sector to grow at 6-8% YoY in FY23
India's pharmaceuticals market (IPM) is expected to grow between 6 and 8 per cent on a year-on-year (YoY) basis in FY23. Accordingly, the growth has been capped due to high base effect and inventory stocking in FY21 on account of Covid-19-led disruption in supplies of key starting materials.
India bans Sea Ltd's Free Fire, ripple effect felt in Chinese stock market
Indian government's recent ban on Sea Ltd's marquee game Garena Free Fire, among 53 other Chinese apps, sent its stocks tumbling in the stock market. Indian government's recent ban on Sea Ltd's marquee game Garena Free Fire, among 53 other Chinese apps, sent its stocks tumbling in the stock market.
China expresses concern over India's decision to ban its apps, asks New Delhi to ensure ‘non-discriminatory’ policies for foreign investors
“…relevant Indian authorities have taken a series of measures to suppress Chinese companies and their products in India, which have seriously damaged the legitimate rights and interests of Chinese companies… China expressed serious concern about this,” Commerce Ministry spokesperson Gao Feng said. He also expressed concerns about the investment regime in India.
JB Chemicals & Pharmaceuticals Limited reports revenue growth of 10% to Rs 601cr in Q3 FY22
For the third quarter, the company recorded revenue of Rs 601 crore as compared to Rs 548 crore, registering growth of 10 per cent over the corresponding quarter of the previous financial year. Key points to consider when comparing Q3 FY22 v/s Q3 FY21.
Industry eyes increased fund allocation for health in budget
"The Indian pharmaceutical industry is of strategic importance for the country, providing access to affordable quality medicines across the world. The pharmaceutical industry is science-based and knowledge-driven with scientific developments evolving at a rapid pace. The budget should spur innovation and set the pace for taking the pharmaceutical industry to the next level," Sudarshan Jain, Secretary General, Indian Pharmaceutical Alliance, told IANS.
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