Positive Budget for healthcare, hospitals and pharma companies. The weighted deduction of 125% to R&D will add back significantly to profits. Excise duties coming down from 16% to 8% for all pharmaceutical products is very positive for all patients and consumers. Custom duties for lifesaving drugs coming down, excise duties coming down to nil for lifesaving drugs; for HIV AIDS products excise duties coming down is a very strong message for the industry, for the consumers.
Wyeth Pharmaceuticals, a division of Wyeth, has received approval from the US Food and Drug Administration for Xyntha (Antihemophilic Factor [Recombinant], Plasma/Albumin-Free), a recombinant factor VIII product, for patients with haemophilia A for both the control and prevention of bleeding episodes and surgical prophylaxis.
The US Food and Drug Administration approved Genentech's Avastin for breast cancer
Pfizer Limited has launched the non-nicotine smoking cessation prescription drug Champix in India. The varenicline tartrate product christened as Chantix in US will be marketed through 600 smoking cessation clinics set up by the company in partnership with physicians across 17 cities in India
European drug rivals Novartis and Novo Nordisk have jointly sued German drug maker Bayer over patent violation, in the US
US-based DOR BioPharma has entered into an agreement with Korean pharma company BL&H. As part of the deal, BL&H will act as DOR's sponsor of a Named Patient Program (NPP) for orBec to patients suffering from acute gastrointestinal Graft-versus-Host disease (GI GVHD) in South Korea.
The government agencies and institutions like DST, DBT, AYUSH, ICMR and CSIR have developed 28 new molecules targeting chronic diseases like blood pressure, diabetics, gastric ulcer and asthma.
Satyam Computer Services has opened a life sciences center of excellence in Hyderabad to provide software solutions to drug and pharmaceutical firms.
The NPIL Research & Development Limited (NRDL), an independent company that was recently demerged from Nicholas Piramal India Limited from Mumbai signed an agreement with the Department of Biotechnology (DBT), Government of India to initiate an industry – university / national institute partnership programme in drug discovery.
Novartis, a major vaccine manufacturer headquartered at Basel, is opening a new research institute called Novartis Vaccines Institute for Global Health (NVGH) in Siena (Italy) with a nonprofit mission to exclusively focus on the development of vaccines for diseases of the developing world.
Abbott has received US Food and Drug Administration approval to market Humira (adalimumab) as a treatment to reduce signs and symptoms of polyarticular juvenile idiopathic arthritis (JIA) in patients four years of age and older.
CollaGenex Pharmaceuticals signs Merger Agreement with Galderma Pharma S.A. Galderma to Initiate Tender Offer for All CollaGenex Shares at $16.60 Per Share
The CATA delegation, led by Dr. Chinkholal Thangsing, Asia Pacific Bureau Chief, for the AIDS Healthcare Foundation (AHF) and the President of India Cares, pressed the Prime Minister to help improve access to medical care and treatment for HIV and AIDS, including increasing access to both first and second-line lifesaving antiretroviral treatments in India.
Association of Biotechnology Led Entrepreneurs (ABLE) is working to create a possible synergy among small and medium biotech enterprises in the country which can feed on each other's expertise.
OM PHARMA enters into worldwide exclusive agreement on triacyls, including OM-197-MP-AC and OM-294-DP, with an important European pharmaceutical company
Millipore Corporation has entered into a worldwide, non-exclusive license agreement with Bayer HealthCare AG, a subsidiary of Bayer AG, to use Millipore's Ubiquitous Chromatin Opening Element technology to manufacture its biologic drugs
LifeCycle Pharma, an emerging specialty pharmaceutical company, has launched its first product Fenoglide(TM) for the treatment of hyperlipidemia and hypertriglyceridemia in US
Genmab and PDL BioPharma, have entered into an agreement under which Genmab would acquire PDL's antibody manufacturing facility located in Brooklyn Park, Minnesota, USA for USD 240 million to be paid in cash. The transaction also includes land, equipment and access to a leased space housing a development lab.
Pfizer Inc has entered into an agreement to acquire Encysive Pharmaceuticals Inc., a publicly held biopharmaceutical company whose product for the treatment of pulmonary arterial hypertension (PAH) is commercially available in much of the European Union and is approved in other markets.
China, Japan and South Koreas were the main driver behind record patent growth in 2007 accounting for more than a quarter of new registrations according to the World Intellectual Property Organization. U.S. is still in # 1 slot but China, Japan and South Korea saw large increases.