Aurobindo Pharma to expand its US portfolio; eyeing new markets in Europe
The Dollar Business Bureau A leading Indian pharmaceuticals company Aurobindo Pharma has said that it would widen its product portfolio in the American market while planning to enter new markets in the Europe, a part of the company’s growth strategy in the coming 3-4 years. In the US market, Aurobindo Pharma plans to widen its portfolio through faster growth in OTC, injectable and higher complexity products, the company said in a presentation to investors. However, in European market, the company plans to enhance its presence in new geographies like Czech Republic and Poland, in addition to strengthening its position in the existing markets of Germany, France, Spain, Netherlands and the UK. Aurobindo Pharma is the 6th largest generic company by volume in the US, ...
Strides Shasun acquires Perrigos API facility for Rs. 100 cr
The Dollar Business Bureau Indian pharmaceutical company, Strides Shasun Ltd, has acquired Perrigo's active pharmaceutical ingredients (APIs) manufacturing facility, based in Ambernath city of Maharashtra for Rs.100 crore. “The company has inked a definitive agreement to acquire the complete shareholding in Perrigo API India Pvt Ltd for Rs.100 crores,” Strides Shasun said in a press release. The deal is likely to be completed by December 31, 2016, it said. Commenting on the deal, Shashank Sinha, Group CEO, Strides Shasun, said, “This acquisition will bring a manufacturing facility into the company’s fold which is designed to manage multi-purpose small batch productions and speed up our time to the market.” “This goes well with the Strides' strategy of creating a backward integrated portfolio of small volume and niche ...
Pharmexcil to compile CAGR forecast on pharma exports
The Dollar Business Bureau Committed to enhance India’s market share in Europe, Pharmaceuticals Export Promotion Council (Pharmexcil) is planning to begin its work on preparing a document forecasting the country’s likely CAGR (compounded annual growth rate) in the coming four years. This step comes at a time when pharmaceutical sector is being recognised by government amongst the top sectors for export with high potential. In this context, Pharmexcil has been asked by the government to compile a forecast of possible CAGR in the coming four years, keeping 2015-16 as the base year with a growth rate of 4.5 percent of the country’s pharmaceutical exports to the Europe. To speed up activities, the council has already urged all the stakeholders to provide ...
Ghana FDA adopts Indian pharmacopoeia standards
Sairaj Iyer | The Dollar Business Bureau Hudu Mogtari the CEO of Ghana FDA gave a compelling and visionary presentation during the second day proceedings of Iphex at Bombay Exhibition Center, Goregaon. Mogtari arrived at the session with a contingent of policy-makers and industrialists from Ghana. There were senior officials from the Ghana health ministry, a member of the Parliament, and the executive secretary of the pharmaceutical association of Ghana, that jubilantly backed Hudu Mogtari while he delivered his presentation. Mogtari revealed that Ghana produced a mere 30% of domestic-healthcare needs, forcing them to depend on imports. In that respect Indian drugs are not only cost-effective but also of great quality. During his session he announced that to facilitate easier imports from ...
WTI crude oil fluctuates, while Brent steadies
The Dollar Business Bureau Brent price, the global proxy benchmark, has regained steadiness, post the ISIS sponsored attacks on Brussels. Meanwhile, West Texas Intermediate (WTI) crude oil, hailed as the sweet American benchmark saw fluctuations and losses on account of a "stockpile build". Trading terminals at NYSE's FXCM, on 16th and 17th March 2016 (the day of the Brussels attacks), witnessed volatile intra-day positions of both grades. However, Brent showed signs of easing on 18th March bringing it to $41.37 by end of day trading. WTI crude witnessed moderate to volatile fluctuations, and is currently trading at $41.08 for the same unit. American Petroleum Institute (API) in a report shared that the US crude stockpiles reached 532 million, a record high, ...
Regulatory standards pose major challenge for Indian pharma industry
Sai Nikesh | The Dollar Business The Indian pharmaceutical sector has to face many challenges due to issues related to regulatory compliance and international trade negotiations, say industry leaders. In the new Foreign Trade Policy, the government has taken several steps to improve the pharma sector. A fund of Rs.50,000 crore has also been allocated for improving regulatory standards. “However, issues relating to regulatory standards are posing challenges,” said K Satish Reddy, Chairman, Dr Reddy’s Laboratories Limited. Speaking at the Pharma CEOs Conclave 2015 in Hyderabad on Wednesday, Reddy said that there is a need for a better coordination between the government and the industry to resolve these kinds of issues. “Few challenges also exist in case of India’s global-level trade ...
Centre examines overpricing and non-availability of drugs
The Dollar Business Bureau The Union Ministry of Chemicals and Fertilizers, on Tuesday, informed that the Special Committee recommendations are being examined for formulating a ‘Policy for Promotion of Manufacturing of Bulk Drugs’. The Union Minister Ananth Kumar informed Lok Sabha that a special Committee, under the chairmanship of Secretary, Department of Health Research, has been constituted to check the issues pertaining to the Active Pharmaceutical Ingredients (API). The Committee will check the whole issues of APIs by identifying the APIs of critical importance and will then work out on a package of interventions and procedures to build domestic production capabilities and further examine the cost implications, the Minister added. The recommendations made by the Committee include the ...
