Gufic Lifesciences gets nod for injectables unit merger

Gufic Lifesciences Ltd, one of the oldest pharma companies in India, today said it has won the last pending regulatory approval for the amalgamation of its injectables unit with itself. It said it won approval from National Company Law Tribunal Mumbai for the merger last week. Since the transaction has a date of Jan 1, […]

Alembic JV’s new drug is first US FDA-approved NCE designed by Indians

Alembic Pharmaceuticals said a new chemical developed by one of its joint ventures has become the first new chemical entity designed by Indian scientists to win approval from the US Food & Drug Administration. Umbralisib, created by its 50% JV Rhizen Pharma, is an anti-cancer drug that works by inhibiting phosphoinositide 3 kinase (PI3K) delta […]

Metropolis Healthcare buys Hitech Diagnostic for Rs 511 cr

Mumbai-based diagnostic services provider Metropolis Healthcare today announced that it has agreed to buy Chennai-based Hitech Diagnostic Center for a cash consideration of Rs 511 cr. Hitech promoters will invest in Metropolis as part of the deal. Metropolis did not specify the price at which it would allot the 4.95 lakh shares that it will […]

Biocon, Lupin launch new drugs in USA

Bicon Ltd and Lupin Ltd, two India-based pharmaceutical manufacturers, launched two drugs in the US, separately. Bangalore-based Biocon launched an immunosuppressant, while Lupin launched a pain relief drug. Biocon’s drug is called Tacrolimus, and it is a calcineurin inhibitor. The company said the drug is used in organ transplant patients to reduce the body’s ability […]

Indoco Remedies wins big order from Germany for uric acid tablets

Pharmaceuticals manufacturer Indoco Remedies has won a major contract to supply Allopurinol, used to bring down uric acid in the blood, from Germany. The two-year contract will generate around Rs 70 cr per year for the company. “This is Indoco’s first own label product in Europe,” said Managing Director Aditi Kare Panandikar. “Germany is totally […]

Zydus’ cytokine inhibitor moves into clinical trial

Pharmaceutical manufacturer Zydus Cadila said it received permission to initiate clinical trials for ZYIL1, an oral small molecule NLRP3 inhibitor, as an anti-inflammatory agent. The molecule is being explored for treating a variety of inflammation-related conditions, including Acute Respiratory Distress Syndrome (ARDS), auto-immune diseases, inflammatory diseases, cardiovascular diseases, metabolic disorders, gastro-intestinal diseases (inflammatory bowel disease), […]

Laurus Labs buys Bangalore-based biotech firm Richcore for Rs 247 cr

Indian drugmaker Laurus Labs said it signed a definitive agreement to acquire a majority stake in a Bangalore-based, fast-growing biotech company, Richcore Lifesciences, for Rs 246.67 cr. Richcore has advanced R&D and manufacturing facilities to develop and manufacture biotech products critical for manufacturing biological drugs. Richcore also helps its global customers to develop and scale-up […]

Tech Mahindra invests $3 mn in fast-growing US tele-medicine startup

Tech Mahindra, one of India’s to six IT service providers, said it has invested $3 million, around Rs 23 cr, in a fast-growing tele-medicine start-up based in Plano, Texas. The Indian company, which gets a 6% stake in exchange for the investment, has an option of raising its stake to 14% by January 2021 by […]

Vaishali Pharma enters US market

Mumbai-based pharmaceuticals manufacturer Vaishali Pharma said it has entered the US market by launching its orthopaedic belts and similar products. The company is among the smaller sized pharmaceutical manufacturers in India, with annual sales in the range of around Rs 40 cr. Established in 1989, it manufactures and supplies bulk drugs, pharmaceutical ingredients, formulations, surgical […]

Dr Lal PathLabs says only 0.5% of records leaked

Dr Lal PathLabs, one of India’s top diagnostic chains, today clarified that the leak of patient data reported in the media involved only 1 in 200 patient records held by the company and did not involve any “material information loss”. “There was a misconfiguration in one of our minor web application where temporary records were […]

Thyrocare Q2 revenue up 37% on COVID-19 testing

Thyrocare, one of India’s leading diagnostic services providers, said its revenue has jumped substantially in the July-September quarter owing to strong demand for COVID-19 testing. A day after competitor Metropolis Healthcare reported a 25% year-on-year jump for the three months, Thyrocare reported a growth of 37% in its revenue. Sequentially, Metropolis’ September quarter revenue nearly […]

Metropolis Healthcare revenue gets a COVID-19 boost

Metropolis Healthcare, one of India’s biggest diagnostic services providers, said it has seen a sharp up-tick in its revenue this year, benefiting from increased demand for COVID-19 testing. As of September 2020, said the company, its total revenue is 40% higher than the same month of 2019. Within this, the non-COVID services/revenue has achieved ‘normalcy’ […]

COVID-19 testing charge capped at Rs 1,600 in UP

The Uttar Pradesh government has capped the maximum price chargeable by private laboratories for testing for COVID-19 at Rs 1,600 with effect from tomorrow, Sep 11. Earlier, the maximum rate was Rs 2,500. The 900-rupee reduction has been made keeping in mind the higher availability of testing COVID-19 testing kits in the country and with […]

Glenmark says Favipiravir trial shows 29% faster recovery in COVID-19

Glenmark Pharmaceuticals Ltd said its trial of Favirpiravir showed a 28.6% faster recovery among those treated with the antiviral drug than on those who were on standard therapy. The 150-person trial showed “numerical improvements for the primary efficacy endpoint with 28.6% faster viral clearance in the overall population as measured by the median time until […]

Kerala confirms community transmission

Kerala has become the first state in India to confirm community transmission of COVID-19. Chief Minister Pinarayi Vijayan said community transmission has been confirmed in coastal areas of Thiruvananthapuram district, based on test results from today. “We have come to the conclusion that COVID is now in community transmission in areas like Poomthura and Pulluvila,” […]