Structure / Market Size The US Sector $ 12 billion valued pharmaceutical industry in India is expected to grow at an compound annual growth rate (CAGR) of 10-11 per cent. The industry spends around 18 per cent of its revenue on research and development (R&D).
“In this age of product-process patent and intellectual property rights, discovery of new drugs holds significance. Moreover, a social environment, under which the firms follow the rule at their own, should also be created. If this is not done, it will make way for the rise of holistic healthcare culture in India too,” said Gujarat’s Chief Minister Narendra Modi.
Sandoz today announced the introduction of tacrolimus capsules, a generic equivalent of Prograf®, in the US. Tacrolimus is an immunosuppressive treatment used to help prevent rejection of a kidney or liver transplant.
To beat the financial crisis, experts say that many big pharmaceutical firms are seeking to collaborate or merge their businesses to better develop and market new blockbuster drugs.
In the time of economic slowdown when major companies are facing pressure on their balance sheets, Gujarat-based pharmaceutical firm have registered a healthy growth and seen substantial rise in net profit in the financial year 2008-09.
Cardiome Pharma Corp announced that the waiting period under the Hart-Scott-Rodino Act for the collaboration and license agreement with Merck & Co. Inc and a Merck affiliate for development and commercialisation of vernakalant, an investigational candidate for the treatment of atrial fibrillation, has expired and the agreement is now effective.
Pharma major Dr Reddy’s Laboratories Ltd has readied an action plan to increase its revenue growth in the domestic market, which had dipped below the industry average last fiscal.
There's nothing like a darkening economic climate and rising competitive pressures to focus a business's priorities.
Firms are under pressure due to the shrinking pipeline of new drugs, slowing growth and increased competition.
Last year, the Biotech industry as a whole achieved much better performance than the market. Both the NASDAQ Biotech Index and AMEX Biotech Index outperformed all three major market indices (Dow Jones Industrial Average, NASDAQ Composite and S&P 500) in a large margin. The major indices declined as much as 40%. While NASDAQ Biotech Index declined only 12.6%, and AMEX Biotech Index was down 17.7%.
Seattle Genetics, Inc has entered into a worldwide collaboration agreement with Millennium: The Takeda Oncology Company, a wholly-owned subsidiary of Takeda Pharmaceutical Company Limited, for the development of antibody-drug conjugates (ADCs).
Pharma major, Wockhardt, has been in the news for a while. This was after a flurry of events. Its chairman Habil Khorakiwala resigned elevating his son, Murtuza Khorakiwala to the post of Managing Director.
It is purely coincidental that recently Novartis and Mylan announced plans to significantly hike equity stakes in their Indian subsidiaries. Swiss firm Novartis presently holds a little less than 51 percent stake in its Indian arm, while Pittsburgh-headquartered Mylan has 71 percent in Matrix Labs, the Hyderabad-based company it acquired in 2006 for a total consideration of $736 million.
Covance Inc. (NYSE: CVD) has acquired Swiss Pharma Contract, a 50-bed clinical research company based in Basel, Switzerland. No financial terms were disclosed. According to VentureWire, Swiss Pharma raised seed funding in 1998 from Novartis Venture Fund.
Gilead Sciences Inc. agreed to buy CV Therapeutics Inc. for about $1.4 billion to gain chest-pain and heart drugs, topping a hostile offer from Japan’s Astellas Pharma Inc.
Sun Pharmaceutical Industries, one of India's largest drugmakers by market value, has lost out on a $ 3 billion revenue potential from the US market. This was after a rival beat it to gain the US regulator's approval to sell the world's best selling anti-depressant.
CLC bio just launched their new enterprise level product line, consisting of CLC Science Server and CLC Genomics Server.
Ethex Corporation, a subsidiary of KV Pharmaceutical Company, is issuing a voluntary nationwide recall of prescription prenatal and iron supplements products (all lots within their expiration dates) at a wholesale level.
Merck KGaA and its Merck Serono division together with partner Newron Pharmaceuticals SpA announced that the first phase III trial of investigational agent safinamide as adjunctive therapy to levodopa (study 016) met its primary endpoint by increasing daily "ON" time in mid- to late-stage Parkinson's disease patients with motor fluctuations by 1.3 hours. "ON" time represents periods when Parkinson's patients experience their best level of motor functioning.
Scientists at deCODE genetics and colleagues from the US and ten European countries announced a long-awaited first in cancer research: the discovery of common single-letter variations in the human genome (SNPs) linked to susceptibility not of one, but several different types of cancer, including those of lung, bladder, prostate, skin and cervix.