Biocon Ltd said it has received European approvals for generic versions of AstraZeneca’s cholesterol drug Crestor, opening up a billion dollar market. The approval has been obtained for Rosuvastatin Calcium 5 mg, 10 mg, 20 mg and 40 mg tablets, indicated for hyperlipidemia or mixed dyslipidemia. Biocon Chairperson & Managing Director Kiran Mazumdar-Shaw said: “This […]
Aurobindo Pharma Limited said it received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Norethindrone Acetate Tablets USP, 5mg. Norethindrone Acetate Tablet is used in the treatment of endometriosis, uterine bleeding caused by abnormal hormone levels, and secondary amenorrhea. The approved product has an estimated market size of US$ […]
Indian pharmaceuticals giant Cipla Ltd has agreed to sell its entire 25% stake in Biomab Holding Limited, Hong Kong to its joint venture partner, for $25.8 mln. The stake has been purchased by Biomab Brilliant Limited, a British Virgin Islands-based company which holds the remaining 75% stake. The transaction is valued at about 165 cr […]
The Confederation of Indian Industry (CII), India’s biggest association of companies, has urged the government of India not to implement a Preferential Market Access for medical equipment without first setting the groundwork for promoting a components and ancillary industry in the country. It said that merely mandating local sourcing norms without helping the local industry […]
Syngene International, an India-based Contract Research Organisation and a subsidiary of Biocon Ltd, announced that it has received the Foreign Investment Promotion Board (“FIPB”) approval for raising the foreign investment to 44% from the earlier approved 10% by way of its Initial Public Offering (“IPO”). The IPO is an offer for sale (“OFS”) by Biocon […]
US-based pharma company Mylan Inc said it was buying “certain female health care businesses” from Famy Care Ltd of India. Famy is largely into generic oral contraceptive products (OCPs) for women. The acquisition will be for $750 million (Rs 4,600 cr) in cash plus additional contingent payments of up to $50 million. The deal makes […]
Glenmark Pharmaceuticals has announced the discovery of a new anti-cancer therapy by its Swiss subsidiary. The new drug, GBR 1302, will target breast cancer and ovarian cancer, and the company expects to start clinical studies this year. Unlike normal drugs, the new drug will work by making it easier for human body’s defence mechanism, white […]
