US MARKET
Echoes of dotcom bubble haunt AI-driven US stock market
AI enthusiasm, along with a robust economy and improved earnings, has driven the S&P 500 index to new highs this year, surging over 50% since October 2022. The Nasdaq Composite, heavily influenced by technology stocks, has soared more than 70% since the end of 2022. While several internet stocks such as Amazon survived and eventually thrived, others never recovered.
Where US stock market is headed after wild first half: 5 charts
A boom in artificial intelligence fueled a blistering first half for the US stock market, and traders expect to see the same — and more — in the remainder of the year.
Tech boom leads global markets through first half of 2024
The first half of 2024 was marked by soaring mega caps, political uncertainties, and remarkable movements in commodities and emerging markets. From Nvidia's market value surge to Japan's weakening yen and the rise of cryptocurrencies, the period reflected a mix of challenges and opportunities shaping the global economy.
Jobs, inflation data may break the US Treasury market out of narrow range
Bond market trends are closely tied to Powell's testimony, economic indicators, and Treasury yield movements. Factors like the recent Australia inflation rebound, central bank actions, and insights from Macquarie Group are key considerations for investors navigating market uncertainties.
Indian Pharma exports: 'USD 10 billion opportunity up for grabs in off patent drug market by 2029'
A senior official of the Pharmexcil said drugs such as Merck's Pembrolizumab (Keytruda) whose revenue were at USD 25 billion and Bristol-Myers Squibb's Eliquis (Apixaban)-USD 12 billion, among others would be off-patented in the next few years.
Asia stocks down, yen slump keeps markets on intervention alert
Asian shares fell on inflation worries, pushing bond yields higher. The yen's decline raised intervention fears. The dollar surged against major currencies. Markets reacted to unexpected inflation hikes. Uncertainties in commodity markets added to the jittery mood.
- Go To Page 1
Asia stocks down, yen slump keeps markets on intervention alert
Inflation concerns impact markets worldwide, driving bond yields up and Asian shares down. Currency markets watch as the yen weakens, prompting fears of intervention. Unexpected jumps in inflation in Australia and Canada add to market nerves before the Federal Reserve's upcoming data release.
Oil extends losses as strong dollar weighs on commodities markets
Oil prices fell in early Asian trade on Monday due to a stronger dollar and concerns of higher interest rates. Brent crude futures slid to $84.84 a barrel, while U.S. West Texas Intermediate crude futures were at $80.34. Geopolitical risks in the Middle East and issues in Ecuador impacted prices.
Lupin, Eugia recall products from US market: USFDA
Drugmakers Lupin and Aurobindo Pharma are recalling products from the American market due to manufacturing issues, as reported by the US Food and Drug Administration (USFDA). Lupin Pharmaceuticals Inc, a US-based unit of Lupin, is specifically recalling 3,552 bottles of Cefixime for Oral Suspension (USP 200 mg/5 mL) because of "failed content uniformity specifications."
Sun Pharma, Cipla enter licensing agreement with Takeda to market novel gastrointestinal drug in India
Sun Pharma and Cipla have entered a licensing deal with Takeda Pharmaceutical to commercialize Vonoprazan tablets in India. This novel drug, used to treat Gastroesophageal Reflux Disease (GERD) and related acid disorders, will be marketed by Sun Pharma as Voltapraz and by Cipla under their own brands.
Ozempic frenzy lures rich Indians to brave the gray market
People are going to great lengths to obtain popular weight-loss drugs. They are stashing injectables in their carry-on luggage, buying counterfeit formulas online, and importing boxes from Europe. The treatments have sparked extensive media coverage, fueling a high demand. According to Goldman Sachs Research, the anti-obesity medication market could hit $100 billion by 2030. In contrast, Indians have largely been observers in this global frenzy over the new weight-loss solutions.
Alembic Pharma gets USFDA nod for Dabigatran Etexilate capsules
Alembic Pharmaceuticals Ltd received final approval from the US health regulator for generic Dabigatran Etexilate capsules 75 mg and 150 mg to reduce stroke and blood clots in adults with a specific medical condition.
Dr Reddy's signs in-licensing pact with Ingenus Pharmaceuticals for cancer treatment injection
Dr Reddy's Laboratories Ltd has signed a licensing agreement with US-based Ingenus Pharmaceuticals to commercialize Cyclophosphamide injection for cancer treatment. Dr Reddy's USA will commercialize the injection in the US market, paying Ingenus 50% of the calculated profit share.
Glenmark gets USFDA nod to market generic drug
Glenmark Pharmaceuticals announced that it has received USFDA approval to market its generic Esomeprazole Magnesium delayed-release capsules, used to treat excess stomach acid conditions. This generic version of Haleon US Holdings LLC's Nexium is expected to compete in a market where Nexium24 HR 20 mg capsules have annual sales of approximately $259.2 million
Indoco Remedies gets USFDA nod to market generic diabetes drug
Indoco Remedies on Thursday said it has received approval from the US health regulator to market a generic diabetes medication. The company has received tentative approval from the US Food and Drug Administration (USFDA) for abbreviated new drug application (ANDA) for Canagliflozin and Metformin Hydrochloride tablets in various strengths, Indoco Remedies said in a regulatory filing.
Sun Pharma expects high single-digit top line growth in current fiscal
Sun Pharmaceutical Industries expects high single-digit top line growth in FY24 with total revenue at Rs 48,497 crore, led by Managing Director Dilip Shanghvi. The firm anticipates similar growth in FY25 with investments in product launches and R&D activities.
India's pharma export sales to grow faster this year
India's pharmaceutical exports are projected to grow nearly 11% this fiscal year, up from about 10% last year, driven by the U.S. and UK markets, according to Pharmexcil. Exports are expected to surpass $31 billion, rising from nearly $28 billion in fiscal 2024, despite quality concerns following cough syrup-linked deaths.
Dr Reddy's, Cipla, Sun Pharma & others to see FY25 revenue boost in key US market, says India Ratings and Research
Indian drugmakers, such as Dr Reddy's, Cipla, and Sun Pharma, are projected to maintain revenue growth in fiscal 2025, driven by drug shortages in the U.S. market. With 233 drugs in short supply, Indian companies are poised to benefit from the challenges faced by U.S.-based generic pharma manufacturers, leading to improved financial performance and increased market share in therapeutic categories.
Zydus Lifesciences gets USFDA nod for asthma treatment drug
Zydus Lifesciences Ltd receives final USFDA approval to market generic Theophylline extended-release tablets of strengths 300 mg and 450 mg for asthma and COPD treatment. The drug will be manufactured at the group's formulation manufacturing facility in Ahmedabad SEZ, India, with annual sales of USD 12.6 million citing IQVIA MAT March 2024 data.
Strides Pharma unit gets USFDA nod for generic drug to treat gastrointestinal diseases
Strides Pharma Science on Wednesday said its unit has received approval from the US health regulator to market a generic medication used in the treatment of gastrointestinal diseases. Singapore-based Strides Pharma Global Pte. Ltd, has received approval for the generic version of Sucralfate Oral Suspension, 1gm/10 mL, from the US Food & Drug Administration (USFDA), the drug firm said in a statement.
US FDA inspects Vishakhapatnam facility of Solara Active Pharma
The US Food and Drug Administration (FDA) completes inspection of Solara Active Pharma Sciences' API manufacturing facility in Visakhapatnam, Andhra Pradesh, with no observations. Solara confirms compliance with FDA standards. The facility, dedicated to Ibuprofen API production, marks Solara's second successful FDA inspection. The company aims for global market expansion with FDA-approved facilities.
Dr Reddy's, Sun Pharma, Aurobindo recall products in US
The company is also recalling another lot of sapropterin dihydrochloride for the same reason, it added. The USFDA said the drug maker initiated the Class I recall in the US on April 8 this year. As per the US health regulator, a Class I recall pertains to defective products that can cause serious health problems.
Serum Partners US company to advance needle-free injection technology
SII said, in a statement on Friday that the partnership with IntegriMedical aligns with its vision of 'Health for All' and IntegriMedical's mission to 'transform healthcare globally' by providing patient comfort, ensuring increased patient compliance, reducing needle-stick injuries, and enhancing the efficacy of liquid medication via needle-free dispersion.
Alembic Pharma plans to launch 25 drugs in US generics segment this fiscal
The Vadodara-based drug maker, which has been around for over a century, is a late entrant in the US market. It has more than made up for it. It has been on an investment overdrive, spending about ₹700-₹750 crore per annum on R&D to build a complex pipeline of products for the US market.
Derma products market seeing strong growth
Industry data shows emollients, protectives, have grown from Rs 1,390 crore MAT value in April 2022 to Rs 1,892 crore in April 2024. Likewise, sunscreens have grown from Rs 259 crore MAT value in April 2022 to Rs 416 crore in April 2024. MAT refers to Moving Annual Turnover (MAT).
Dr Reddy's launches generic anti-bacterial drug in US
The company's product is a therapeutic generic equivalent of Oracea capsules (40 mg) approved by the US Food and Drug Administration (USFDA).
Maiva Pharma raises Rs 1000 crore from Morgan Stanley Private Equity, InvAscent
Morgan Stanley PE Asia and India Life Sciences Fund are investing almost equally, total stake with both funds combined will be over 60% post primary investment, the company told ET.
Dr Reddy's recalls six lots of drug in US due to subpotency
Dr Reddy's Laboratories on Tuesday said it is voluntarily recalling from the US market six lots of medication, indicated to reduce blood phenylalanine (Phe) levels, on account of being subpotent. The company is recalling affected lots of Sapropterin Dihydrochloride Powder for Oral Solution 100 mg to the consumer level due to powder discolouration in some packets leading to decreased potency, the Hyderabad-based drug maker said in a regulatory filing.
Zydus Lifesciences launches generic drug for overactive bladder in US market
Zydus is among the first suppliers to launch the generic version of Mirabegron extended-release tablets (USP 25 mg) in the US market. The company is also preparing to launch the 50 mg tablets in the market. Mirabegron is indicated for the treatment of Overactive Bladder (OAB) with symptoms of urge urinary incontinence, urgency and urinary frequency.
Load More
