USA-based Medivation (NASDAQ: MDVN) and global drugs behemoth Pfizer (NYSE: PFE) have finally decided to discontinue the development of Dimebon also known as latrepirdine, for all indications and will terminate the ongoing open label extension study in Alzheimer’s disease.
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).
The Indian drug industry could make huge gains as over $70 billion worth of drugs are expected to go off patent in the US, the world’s largest pharma market, in the next three years.
Surging growth and global operations ensure they can’t be family-run any longer.
Indian drugmakers could see excise duty on drugs restored to 8 percent from the present 4 percent, but they are hopeful research & development could attract some tax sops in the Union budget on Feb. 26.
The entry of global pharma firms in the generic market will put strain on Indian drug companies, which will have to manage costs and maintain profitability to be able to compete with them, says credit rating agency Fitch.
Catalyz is developing affordable diagnostic and care systems for infectious and chronic diseases. The tests need no technical knowledge or any device to interpret the result, hence making it easy for a lame man in confirming or ruling out certain diseases.
In an ambitious move to boost drug discovery, the Centre plans to create a fund of Rs 2,000-3,000 crore for pharma research and development, a top government official said here today.
The collapse of the property market has left the economy with a huge hole that will be difficult to fill. One of the few sectors that offers hope of growth is the pharmaceutical industry, with senior executives convinced that genuine opportunities remain for Ireland Inc.
Strides Acrolabs, which struck a drug supply deal with Pfizer on Wednesday, said it is discussing similar drug supply deal for niche therapeutics areas with global drug pharma companies. The Bangalore-based company will start getting part of the money from its deal with Pfizer this quarter onwards and that such deals would drive its future growth, a senior company executive said.
India's pharmaceutical sector has stepped up its research & development expenditure in a bid to capture a larger market share in highly regulated and emerging markets.
Global multinational drug companies need to outsource manufacturing to low-cost destinations like India has turned out to be a boon for leading drug companies in India such as Ranbaxy, Cipla, Dr Reddy’s Laboratories and Aurobindo.
2007 was the year that pharma fell in love with biologics, but as the saying goes, you can't love someone else before you love yourself. 2009 was the year pharma fell in love with itself.
Indian companies engaged in discovery of new drugs have twisted the model as many molecules licensed to foreign collaborators failed to reach the market. This so-called outlicensing strategy has been revised and the domestic companies are conducting a larger part of the initial trials themselves, choosing to license out the molecules much later than they used to.
Orchid Chemicals & Pharmaceuticals has agreed to sell its injectables business to the US-based Hospira for around $400 million (Rs 1,850 crore), a valuation that represents a 20% premium to the Chennai-based firm’s market value and greatly boosts its financial flexibility.
“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.
Pharmintech, the international exhibition for technology, materials and services for the processing and packaging of pharmaceutical, personal care and nutraceutical products is scheduled to take place at BolognaFiere from May 12 to 14 2010.
A group of companies from Germany are scouting for partners in the domestic pharma industry for opportunities in areas of research and development, production and sales and distribution. The group includes Orgentis Chemicals Ltd, Organica Fine Chemicals, Synthon Chemicals and biotech company c-Lecta, which are in talks with some leading Indian pharma companies to forge R&D partnerships.
Mexico City has announced plans for what it hopes will be a world-class centre for biomedical and nano-medical research. To be called Campus Biometropolis, the city hopes the new centre will attract investment and become an "engine for the transformation" of Mexico's economy.
Executive director of Pharmaceuticals Export Promotion Council (Pharmexcil) Dr PV Appaji has received the prestigious Indian Pharmacy Graduates Association (IPGA) 'Eminent Pharmacy Graduate Award' for the year 2008 for his outstanding contributions towards the advancement of pharmaceutical profession. Director-general (Drugs Control Administration), Andhra Pradesh, R P Meena presented the award to Dr Appaji.