Pharma Sector
SpiceHealth alleges 'agreement violation' by GeneStore India
The two companies had entered into an agreement whereby SpiceHealth had acquired mobile labs, diagnostic kits, licenses, accreditations, equity shares, among others, from GeneStore by paying a considerable consideration. As per the agreement, GeneStore had agreed to observe non-compete obligations and had undertaken not to engage or participate in any venture or business concerning Covid-19 testing.
Piramal Pharma completes acquisition of Hemmo Pharmaceuticals
In March, Piramal Enterprises, the parent company of Piramal Pharma, had announced the proposed acquisition. "We wish to inform you that PPL has completed the acquisition of Hemmo on 22nd June, 2021 and the transaction is now closed," Piramal Enterprises said in a regulatory filing on Wednesday.
Nutraceutical market to grow at more than 35% CAGR to $ 18 Billion in next 5 years
The explosive growth is being driven by a shift in consumer behaviour and a renewed focus on preventive healthcare. Nutritional supplements or nutraceuticals are fast gaining acceptance to fill in the nutrition gaps left in daily diets towards improving immunity. Nutraceuticals or Nutritional supplements aimed at preventing and managing specific lifestyle disorders.
Indian pharma industry sales to log robust growth: Fitch Ratings
The credit rating agency said pharma company sales will grow in FY22 as sales normalise in categories affected by the pandemic in the previous year. "Most Indian pharma companies reported resilient operating performance in FY21, benefiting from gradual stabilisation after 1QFY21, geographical diversification and sales of pandemic-related drugs," Fitch Ratings said.
Low base: India's pharma sector growth accelerates in May
Low base effect accelerated the growth of India's pharma sector in May, India Ratings and Research (Ind-Ra) said. The ratings agency opined that the 47.8 per cent YoY growth in India's pharmaceutical market (IPM) during May 2021 was led by a low base effect. Last year, the IPM declined by 8.5 per cent YoY in May 2020 due to the lockdown.
PLI Scheme has potential to position India in Global Value Chain
Dawra also said that in the pharma sector, bulk drugs have received Rs 5,400 crore, medical devices Rs 870 crore and 3rd PLI for Pharma has received Rs 15,000 crors in investments; the food processing sector has received Rs 34,000 crore in investments and therefore, observed that the PLI scheme is already generating transformation and is expected to generate further benefits over the period of the next five years.
Lilly signs an Additional Voluntary Licensing Agreement on Baricitinib
Under the terms of the license, Natco will be collaborating with Lilly to further accelerate and expand the availability of baricitinib in India during this pandemic, improving the local treatment options available to people who are currently battling Covid-19 in India.
Covid pushes India's Pharma industry growth to 59% in April
According to total sales audit data from world's largest pharmaceutical market research firm IMS Health, the Indian Pharma Market (IPM) grew 59 per cent yoy in April, 2021 vs 16 per cent yoy in March, 2021 due to the low base effect in April, 2020 and sharp surge in Covid-19-related sales.
Eli Lilly signs agreements with Cipla, Lupin and Sun Pharma
Lilly is in discussions with several other Indian manufacturers for the potential grant of additional voluntary licenses. These voluntary licensing agreements will ensure high quality manufacturing and accessibility of baricitinib during this pandemic improving the local treatment options
Glenmark Pharma to use IFC's $40 mn loan for debt refinance and capex
Glenmark is having a good presence in generics, the counter and speciality drugs. The IFC has committed an unsecured loan of $40 million to the company. Queried about the deployment of the loan fund a company spokesperson told IANS: "The $40 mn loans will be utilized to refinance existing Foreign Currency Convertible Bonds (FCCBs) and CAPEX funding."
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