Pharma MSMEs resent new norm
Source: Tribune India The Himachal Drug Manufacturers’ Association (HDMA) has sought relaxation in the 45-day payment norm for industries having a turnover of Rs 100 crore and Rs 50 crore for one year and two years, respectively. The new provision, introduced under Section 43 B of the Income Tax Act, would be implemented from the […]
Licenses of 64 pharma companies cancelled after govt crackdown
Source: The Hindu Businessline Indian authorities, over a one-year-period, have cancelled licenses of 64 pharma companies, while 17 drug testing laboratories have been asked to shut down for non-compliance with ‘good manufacturing practices’ and other “continued” procedural lapses. As per the World Health Organisation (WHO), ‘good manufacturing practices’ refer to that aspect of quality assurance […]
Indian pharma Industry to log 8-10% revenue growth in FY24
India’s pharmaceutical industry is expected to have a revenue growth of 8-10 percent in Financial Year 2024 (FY24), ratings agency ICRA has said in a report. Growth is likely to be driven by price increases, new products, and health care services expanding in semi-urban and rural areas, said the report based on data from ICRA’s sample […]
Fake pharma companies busted across Gujarat, factory sealed
Source: Gujarat Samachar In a pan-Gujarat drive of Food and Drugs Control Administration (FDCA) raids, fake pharmaceutical factories were seized across various locations, including Ahmedabad, Vadodara, Surat, Bhuj, and Idar. A muddammal worth over ₹1.75 cr was seized from a fraudulent factory named M/S Piecan Pharma Pvt Ltd in Ahmedabad’s Changodar. The owner of M/S […]
Rape case: Cadila Pharma CMD appears before cops
Source: Times Of India Rajiv Modi, the chairman and managing director of city-based Cadila Pharmaceuticals, on Thursday appeared before Sola police station officials investigating a case of rape, molestation, and criminal intimidation against him filed by a Bulgarian woman who was her former employee. An FIR in this case was filed on Dec 31 following […]
Largest-ever delegation on a mission to boost exports
Source: The Hindu Businessline In a major initiative to boost pharmaceuticals exports to Latin American (LATAM) region, a 105-member industry delegation with representatives from 82 Indian pharma companies will be visiting Guatemala, Colombia and Chile. The programme is being organised by the Pharmaceuticals Export Promotion Council of India (Pharmexcil), an arm of the Union Ministry of Commerce & Industry, […]
Anti-asthma drugs drive pharma market growth
Source: Times Of India Respiratory therapies led the growth during Jan in the pharma market, which seemed to have started the year with a bang, growing nearly 8% to Rs 17,937 crore. Anti-asthma drugs (Foracort and Budecort) continued to post a double-digit growth each during the month, pointing to our struggle with growing pollution levels […]
India’s New Strategy to Improve Drug Quality
Source: News18 The central government will maintain the record of not only drug makers but also pharmacies from where spurious samples are picked up. Each drug controlling office will prepare a list every month of wholesale or retail outlets with the name of a registered pharmacist and owner where spurious products are reported As the […]
Eris Lifesciences acquires 51% stake in Swiss Parenterals for ₹637.50 crore
Source: Livemint New Delhi: Eris Lifesciences Ltd on Tuesday said it has acquired a 51% stake in the Swiss Parenterals Ltd (SPL) for ₹637.50 crore, aiming to expand its presence in the sterile injectables market. According to a stock exchange filing, this move will increase the total equity stake of Eris and its promoter group in […]
NHRC notice to Health Ministry, DGCI over drugs brand names issue; seeks response in 4 wks
The National Human Rights Commission in a statement also said reportedly, the Central Drugs Standard Control Organisation (CDSCO) would first have to “build a database” of all pharmaceutical brand names by collecting data from the 36 different Drug Controllers in each state and Union Territory, as there is “no such database in the country”. New […]