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’ […]

CORONAVIRUS: Gujarat overtakes Delhi for No.2 spot, leads in death rate

With an addition of 127 cases so far today, the western Indian state of Gujarat has dislodged the national capital Delhi as the state with the second highest number of Coronavirus 2019 cases in India. The state, which also crossed the 2,000 patient milestone today, also has the highest death rate — along with Madhya […]

CORONAVIRUS: Superstar Mohanlal calls for magical clapping

Malayalam Superstar Mohanlal expressed frustration at the high number of people who are refusing to heed government’s instructions on combating Coronavirus, and compared community clapping to magic that can destroy bacteria and viruses. “It won’t do to just say that we are not used to [such restrictions],” Mohanlal said in an interview with Malayalam channel […]

‘Escaped’ Coronavirus patient derails Kochi-Dubai flight

A UK national who had ‘escaped’ quarantine in Kerala after being suspected for COVID-19 infection was today identified on a flight from Kochi to Dubai, resulting in an indefinite delay in the flight. The passenger, who was staying at the ‘Tea County’ resort in the hill station of Munnar, was tested for Coronavirus COVID-19 on […]

Thyrocare board says no to founder Velumani’s offer to buy scanning arm

Directors of diagnostic chain Thyrocare today said no to founder and chairman Arokiaswamy Velumani’s offer to buy out its latest venture aimed at democratising access to cancer diagnostic services. At present, cancer screening and diagnostic services are extremely expensive, and Velumani — the son of a landless farmer — has been working for some time […]

Sun Pharma licenses two products to China Medical System

Sun Pharmaceutical Industries today announced that it had licensed two of its products — for psoriasis and for dry eye — to China Medical System Holdings Ltd or CMS. CMS will pay Sun Pharma an initial upfront payment, regulatory and sales milestone payments, and royalties on net sales, the Indian pharma company said. The financial […]

1,104 people die during clinical trials in India in 3 years

A total of 1,104 people have died during clinical trials of various drugs and procedures in India in the last three years, according to the ministry of health and family welfare. However, not everyone who died during clinical trials are found to have died from the procedure through subsequent examinations. Only the patients who are […]

Cipla wins approval for generic testosterone in the US

Drug maker Cipla said it received final approval for selling a generic testosterone injection in the US. Cipla’s Testosterone Cypionate Injection 100mg /ml and 200mg /ml is an AO-rated generic equivalent version of Pharmacia and Upjohn’s Depo-Testosterone. Depo-Testosterone and its generic equivalents h ad US sales of approximately $191 M, according to IQVIA. The drug […]

Fortis Healthcare drops plan to demerge SRL Diagnostics

Fortis Healthcare said it has cancelled its plan to demerge and list its diagnostics arm, SRL Ltd, and will withdraw the concerned application before the authorities. “The Scheme is currently pending for approval with the National Company Law Tribunal, Chandigarh Bench. Further, the entire process was expected to take 6-8 months, however, due to reasons […]

Cipla to sell Eli Lilly’s Basaglar insulin in India

Indian pharmaceutical giant Cipla Ltd said it would sell Eli Lilly and Co’s insulin glargine in India. Insulin glargine is a long-acting basal insulin analogue, given once daily to help control the blood sugar level of those with diabetes. Unlike regular insulin shots — which have to be taken multiple times a day — basal insulin releases […]

Fortis Healthcare sets up expert committee to evaluate all bids

Hospital chain Fortis Healthcare said it has set up a special committee to evaluate the bids submitted by various parties to invest money into the company. It said the company has received binding offers from the Manipal – TPG consortium and the Munjal & Burman family offices, while non-binding expressions of interest has been received […]

Fortis Healthcare says no risk of bankruptcy

Fortis Healthcare confirmed a report that the company had availed of a three-year loan of Rs 160 cr, but denied that it was done to avoid bankruptcy. “We wish to confirm that the Company has availed a secured financing facility upto Rs. 160 crore from RattanIndia Finance Private Limited on March 29, 2018.. We would […]

Fortis Healthcare director quits

Fortis Healthcare, which is under the scanner of the Serious Fraud Investigation Office, said one of its independent directors, Joji Gill, stepped down due to ‘personal reasons’. “Ms Joji Sekhon Gill has tendered her resignation from the directorship of the company with effect from March 7 due to personal reasons, primarily attributed to her occupation […]

Lupin launches testosterone solution in the US

Pharma major Lupin said it has launched a testosterone topical solution in the US for males suffering from the deficiency of the hormone. Lupin’s Testosterone Topical Solution is the generic equivalent of Eli Lilly and Company’s Axiron solution, Testosterone Topical Solution, 30 mg per actuation had annual sales of approximately $179 million in the US, […]