US MARKET
Markets on alert for Biden exit as Trump-win trades mount
Portfolio recalibration began at the end of last week after Biden's contentious debate with Trump sparked concerns about the 81-year-old Democrat's suitability for another term.
Dr Reddy's, Sun Pharma recall drugs in US market: USFDA
Dr Reddy's Laboratories and Sun Pharma are recalling products in the US due to manufacturing issues, as per the latest USFDA Enforcement Report. Dr Reddy's is recalling insomnia and gout drugs, with 13,752 bottles of Eszopiclone tablets affected by failed impurities at their Bachupally plant. Sun Pharma is recalling 2,088 vials of Decitabine for Injection due to CGMP deviations at their Gujarat plant, prompting Class II recalls by both companies.
Zydus Lifesciences gets tentative approval from USFDA for BP lowering drug
Zydus Lifesciences announced on Thursday that it has received tentative approval from the US Food and Drug Administration (USFDA) to market its generic Azilsartan Medoxomil tablets, which are used to treat high blood pressure. The USFDA's tentative approval covers Azilsartan Medoxomil tablets in strengths of 40 mg and 80 mg.
US weekly jobless claims rise labor market slows
The labor market shows signs of easing as unemployment benefits claims increase. Layoffs rise due to interest rates impacting demand, and challenges in seasonal data adjustments persist. Market anticipates Fed's potential rate cuts. Job cuts decrease in June, but higher than last year. Nonfarm payrolls data may reveal job increase. Job openings ratio remains steady, while Fed deliberates policy changes post-hikes. Continuing claims rise due to policy effects.
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.
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.
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.
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.
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.
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.
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.
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