As a part of the President’s fiscal year (FY) 2013 budget the U.S. Food and Drug Administration has asked a budget of $4.5 billion on medical product development, protect patients and ensure safety of the food supply to support public health.
In a recent reversal, operations abroad are hampering profit.
* At least $1 billion incremental gains in export expected by 2014 Pakistan’s pharmaceutical sector has the potential to double its export in next five years provided pricing and contracting challenges are addressed in an efficient way, according to a draft of an official study.
The year had just begun, when Pfizer announced its $68-billion deal to acquire Wyeth, in January. On its heels came Merck & Co's $ 41-billion deal to acquire Schering-Plough Corporation, in March.
In a bid to put an end to the menace of spurious drugs being sold in the market, the Ministry of Health and Family Welfare has instituted a reward scheme for whistleblowers, whereby as much as Rs 25 lakh or 20 per cent of the value of the confiscated fake drugs would be given to informers.
Prime Minister Manmohan Singh underlined the importance of India and Russia in sustaining global economic recovery and said the two countries have decided to take bilateral trade to a much higher level of USD 20 billion by 2015.
The US healthcare bill, which has been passed by the US House of Representatives and is awaiting nod from the Senate, holds a lot of promise for generic manufacturers from India.
Momentum is building for the early December staging in Mumbai of the third CPhI India and second P-MEC India pharma ingredients, services and technologies event. A combined total of over 600 exhibitors from over 80 countries are expected at the Bombay Exhibition Centre for the 2009 events, being held on 1 – 3 December.
India has become a major hub for pharmaceutical companies of the world. An India-strategy is a must for all western companies and is often mandated by their managements.
Two months ago, Michigan-based Perrigo Company, one of the world's largest over-the-counter (OTC) pharmaceutical producers with over $2 billion sales, acquired 85 per cent in Mumbai-based Vedants Drugs and Fine Chemicals for nearly Rs 60 crore.
The Minister of State for Defence Dr. M. M Pallam Raju has sought the Argentine president Cristina Fernandes de Kirchner to ease the country's pharma import policy to allow easy access for Indian pharmaceutical companies to the Argentine market, in order to increase the pharma trade between the two countries.
The Indian Drug Manufacturers Association Gujarat State Board (IDMA -GSB) is organising India's largest pharma & healthcare exhibition 'Pharmac India 2009' in Ahmedabad from November 7 to 9. While Pharmexcil is the co-organiser of the event, it is supported by Federation of Pharma Entrepreneurs (FOPE), Sabarkantha District Drug Manufacturers Association, BDMA and Rajasthan Pharmaceutical Manufacturers Association.
Domestic pharmaceutical companies will not be able to export medicines without the approval of central drug regulator Drug Controller General of India (DCGI) from next month, a Health ministry official said. The move is on the lines of the World Health Organisation’s (WHO) directive that discourages multiple certifying authorities in one country.
The North India based listed pharmaceutical companies have established strong presence in the domestic market, highly regulated markets and emerging markets during the last couple of years with several US FDA approved facilities, high-tech R&D laboratories, focus on new lifestyle drugs and partnership with international giants.
Indian Pharmaceutical Alliance (IPA), the apex body representing domestic pharma companies, is up in arms against the government’proposed action plan to boost drug exports. The department of pharmaceuticals (DoP) has proposed funding by venture capitalists (VCs), service tax exemptions, import duty waiver on pharmaceutical products and protection to clinical test data to boost exports.
As part of 'Brand India Campaign' to counter the multinational companies' (MNCs) propaganda against the Indian generic drugs in the African countries, Union Commerce Ministry will organize an 'Indo-Africa Pharma Business Meet' at Hyderabad from September 17 to 19.
Indian makers of generic drugs with a presence in South Africa must look beyond private-to-private ventures and engage more with the government to increase access to affordable medicines.
The government is set to sign an exhaustive deal with Nigeria to boost pharmaceutical exports to its eighth- largest global consumer where the reputation of Indian drugs was recently dented by fake drugs from China bearing ‘Made-in-India’ labels.
Despite arguments from the pharma sector that the use of patents is a vital and necessary means of protecting revenue, many of the worst affected in a health crisis would simply be unable to afford potentially life-saving medication in the absence of alternatives offered by generic drug companies.