ETHICS IN PHARMACEUTICAL MARKETING
India definitely richly valued; but still is a paradise for picking stocks: Porinju Veliyath
So, we all are in a sweet spot, equity market, the investors, the traders, the whole country, this economy. Of course, there are challenges. So, somebody was talking the other day what are the challenges today? I think rural stress. This is something could be the focus of the new government, the new ministries and so this is relevant to the equity investors also.
Recommendation letters can give freshers more visibility in a crowded hiring market
Recommendation letters can be valuable for early career professionals in enhancing job applications. They offer a personalized touch, validate skills, and help candidates stand out in competitive markets.
Pharma bosses told to submit affidavits on ethical practices
Pharmaceutical companies asked to submit undertaking to government for compliance with UCPMP 2024 by June 30, as per DoP circular dated May 28.
Don’t pop that pill daily: Doctors red-flag proton pump inhibitors used to treat acid reflux, heartburns
The reason for the popularity of PPIs among doctors and patients is not tough to gauge. With unhealthy lifestyles and dietary habits, acidity is common among Indians. While many brands of PPIs are sold almost over-the-counter, Pan, Pantop, Omez and Rablet fly off the chemist’s shelves. Doctors warn that overuse of these drugs can have a slow and debilitating impact.
Quest Labs stock debuts with 60% premium on NSE SME platform
Quest Laboratories made its debut on the NSE SME platform on Thursday, starting with a 60% premium. The stock opened at Rs 155, surpassing its issue price of Rs 97. Before its listing, the company's shares were trading at a premium of Rs 80 in the unlisted market.
View: Stop companies stretching the truth
Every label coming out from FMCG, nutraceutical, cosmetic, pharmaceutical and wellness sectors must be properly checked by regulators. In this context, Supreme Court rightly pulled up the Indian Medical Association (IMA) last week for not taking action against Patanjali on complaints for the company's alleged 'misleading' claims and 'disparaging' ads against the allopathic system of medicine.
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The critical juncture when AI is taking over the world slowly, a proactive approach and good understanding of Generative AI is required from leadership -- CEOs & CIOs.
Need to pull up those pill-pushers
Health issues can lead to financial crises. UCPMP tackles unethical practices like Dolo-650 controversy, CBDT accusations. Requires support from pharma associations, strict laws, and industry accountability.
Pharmaceutical bodies welcome uniform marketing code
"We welcome the UCPMP. It is a balanced order that ensures that there is a healthy and ethical engagement between the pharmaceutical industry and medical professionals," Indian Drug Manufacturers' Association (IDMA) national president Viranchi Shah said. "It also brings clarity in the domain and has been updated as per current industry practices. The IDMA has always been in favour of ethical marketing practices for its members."
Govt notifies new marketing code for pharma industry
The government has implemented a new Uniform Code for Pharmaceutical Marketing Practices (UCPMP) to control unethical practices in the pharma industry. The code prohibits companies from offering gifts, workshops, or free samples to healthcare professionals and aims for an ethical transformation.
Will the wave of restructuring help? 7 MNC pharma stocks with upside potential of up to 14%
In the last three years, Novartis is the third MNC pharma company which has announced sale of a part of its business in India. Some of these restructuring are being done as part of the global readjustment being made at the parent companies level. The bigger question is whether after this restructuring will the MNC pharma stocks, which have been underperforming for quite some time, be able to make a comeback on the street or not. This answer to this question would depend on multiple factors. Right from the use of the sale proceeds to whether post restructuring focus would be on a 100 percent subsidiary or not. In both positive and negative cases, these stocks probably should be on watchlist as news flow around them increases in coming quarters. We take a look at 7 MNC pharma companies.
Capital with conscience: Applying Gandhi's 7 sins to ethical investing
Gandhi's 7 Social Sins, originally addressing individual conduct, find resonance in capital markets too. From greed to speculation, these vices manifest in financial realms, revealing the need for ethical investment practices and responsible financial behavior to foster a just and sustainable economic system.
Over the next 3-5 years, what could be good compounders in making? Porinju Veliyath answers
“The largest two holdings in our portfolio are Tata Communications and Raymond. Raymond has moved from Rs 3000 crore to now around Rs 14,000 crore market cap. Similarly, in Tata Communications, we continue to hold all our stocks and we have been buying till very recently. However, we are ready for 10-15% correction in both the stocks.”
Samples given to doctors are not freebies: Pharma companies in HC
"The free sample of medicines given to the medical practitioners is only to prove the efficacy and to establish the trust of the doctors on the quality of the drugs. This again cannot be reckoned as freebies given to the doctors or for promotion of its products," the petition that was heard by a division bench headed by Acting Chief Justice Alok Aradhe claimed.
Government forms committee to regulate marketing practices of pharma companies
The panel includes secretary of the department of pharmaceuticals S Aparna, Union health secretary Rajesh Bhushan, and Central Board of Direct Taxes (CBDT) chairman Nitin Gupta as members, and a joint secretary (policy) from the department of pharmaceuticals as member secretary.
Pharma association gives clean chit to Dolo-maker
The IPA has submitted a report to the Department of Pharmaceuticals (DoP) and National Pharmaceutical Pricing Authority (NPPA) stating that the company was "following the processes as per the Uniform Code of Pharmaceutical Marketing Practices (UCPMP) guidelines" and they did not find any wrong doing.
Life saviors force-feed pills bitter on pocket in exchange for exotic vacations, chic cars
To keep a gauge if a doctor is prescribing drugs manufactured by particular pharmaceutical companies, medical representatives collect weekly data from all pharmacies around a doctor’s chamber. The data shows if the drug’s stock has been moving or not. If the sales slow down, that is an alarm for the MRs to visit the doctor again, negotiate and offer gifts.
Will PLI help Indian pharma gain market share at cost of MNCs?
Indian pharmaceutical companies are becoming more aggressive and increasing their market share and capex. Companies such as Divis, Dr Reddy's and Sun Pharma are launching new products. Global MNC pharma companies like Abbott are not disinvesting like GSK and Sanofi. However, Pfizer in Q1FY23 did sell its Upjohn business — which has six brands — to Mylan Pharmaceuticals for Rs 180 crore.
The United States drug industry used to oppose patents - what changed?
Drugmakers quickly voiced their opposition to the move, but public health advocates were elated. Waiving patent rights, the thinking goes, will give poorer countries the ability to procure low-cost generic versions of COVID-19 vaccines, even if they are produced in another country, and help them to more effectively fight a public health crisis. The European Parliament now supports the idea as well.
Asia’s largest healthcare-focused fund sees a pandemic opportunity in India
Quadria Capital, which has backed Nobel Hygiene and Encube Ethicals within the last one week, plans to deploy $400-500 million in India over the next 18-24 months.
Encube Ethicals gets funding from Quadria Capital, others at $800 million valuation
Encube Ethicals’ funding round, that saw participation of Quadria Capital and Gulf Islamic Investments, provides an exit to early backer Renuka Ramnath-led Multiples Private Equity.
Multiples PE looks to exit Encube Ethicals at a valuation of $800 million
Encube Ethicals' promoter Mehul Shah will also sell about 5-10% stake in the company. A clutch of private equity funds, including Carlyle, Advent and Temasek, are said to have approached for the deal.
Centre does a U-turn, says no plans to make pharmaceutical marketing code mandatory
On September 18, when chemicals minister DV Sadananda Gowda was asked if the government had decided to make the Uniform Code for Pharmaceutical Marketing Practices (UCPMP) mandatory, he said no. This is a u-turn from the government reply in the Lok Sabha on May 15, 2016 when it said: “...code was reviewed and it was now decided to make it statutory. Once the code is made statutory it is expected that the unethical practices could be controlled more effectively.”
Can't directly deal with complaints of unethical practices: Department of pharmaceuticals
DoP also asked pharma associations to submit compliance report and form committees to look into action taken on the complaints. Pharma lobby groups and associations have been asked to make sure companies adhere to marketing norms during their conferences, despite the clear failure to self-regulate by pharma companies.
4 years on, promised mandatory pharma ethics code elusive
The code aims to end unethical practices like companies bribing doctors in cash or kind to prescribe their medicines. On Friday, the secretary held a meeting with industry associations. The minutes of the last meeting on February 17 recorded that he "showed his displeasure at the status of implementation of UCPMP". None of these meetings included civil society groups representing patient interests.
Pharma companies must adhere to marketing norms during conferences: Govt
Asking the lobbies to ensure that no unethical promotion of pharma products is done during conferences, it said companies must adhere to the Universal Code of Pharmaceutical Marketing Practices (UCPMP) during the upcoming annual conferences of Indian Psychiatric Society, which are to be held in Kolkata and Visakhapatnam.
Department of Pharmaceutical asks industry to regulate promotional practices
The DoP secretary has told both the domestic and multinational pharma lobby groups along with the medical device industry to “strictly” comply with the code of ethics, added the same people. The pharma lobby groups and the medical devices lobby group have been asked to share their comments on the issue within a week.
Sun Pharmaceuticals to set up an ethics committee to oversee corporate governance-related matters
Sudhir Valia to focus more on pursuits outside Sun, but continues to be a valuable resource for the company.
GSK rolls out code for ethical marketing
Faced with charges of unethical marketing practices which have long tarnished its image and reputation, the pharmaceutical industry is trying to clean up its act.
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