- Elder Pharmaceuticals has filed for insolvency, in an attempt to restructure its debt. It had an unpaid debt of around Rs 1,000 crore as on end of June 2014. Trading of its shares has been suspended on the bourses.
- Bengal Chemicals & Pharmaceuticals (BCPL), India’s oldest pharma company of 125 years has just turned profitable after 64 years. quiet turnaround that its MD, PM Chandraiah, began scripting since 2014
- Cadila Healthcare Ltd overtook Lupin Ltd to become India’s second most-valuable drugmaker
- Domestic pharma major Sun Pharmaceutical Industries Ltd and National Institute of Virology (NIV) today signed a pact to test new medicines to combat zika, chikungunya and dengue diseases. Under the agreement, Sun Pharma will provide drug molecules to NIV for testing.
- Prices of nearly 761 essential medicines under price control have reduced as the National Pharmaceutical Pricing Authority (NPPA) has removed the excise duty on them ahead of the Goods and Services Tax (GST) rollout.
- Martin Shkreli, the former pharmaceutical executive dubbed “the most hated man in America” for his 5000 times price hikes on an AIDS treatment, to face fraud charges. He, has pleaded not guilty to accusations he propagated a Ponzi-like fraud on investors.
- FDC Drugs Ban: The Delhi High Court will heard the plea filed by several pharmaceutical companies that sought a stay of a central government notification that banned certain fixed dose combination (FDC) drugs. In March last year, the Centre had banned 344 FDC drugs citing health risks and lack of therapeutic justification.The ban covered about 6,000 brands and major pharma houses .
- Indian government has made Aadhaar mandatory for TB patients and health providers seeking cash assistance under the Revised National Tuberculosis Control Programme. Aadhaar requirement for TB treatment came in for criticism as many affected by TB are from poor and marginalized sections of the society often without proofs of identity.
- IHH And Fortis deal: The Malaysia government-backed Integrated Healthcare Holdings (IHH) announced that it’s not close to signing on to picking up stake in Fortis group. Fortis has been looking for investors who could bail them out of debt.
- Cipla ends litigation with Roche: Cipla withdrew from the ongoing patent dispute with Swiss pharmaceutical giant Roche related to anti-cancer medicine Elontinib Hydrochloride after it reached an out-of-court settlement acknowledging the later’s patent rights over the drug.
- Pharmacies across the country went on a one-day strike this week to highlight their concerns about the threat from e-pharmacies, and the cost that will be imposed by new regulations on the sale of medicines. The strike, called by the All India Organisation of Chemists and Druggists, had the support of well over eight lakh pharmacies.
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