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Vivimed Labs is acquiring a drug-making facility in India, that comes with regulatory approval from the US Food and Drug Administration (US FDA), giving it acess to the US market. It will get two products as part of the deal and some outsourcing contracts that will give it access to quicker revenue streams. In the longer run, it plans to file to sell new drugs from this facility.
Lupin’s U.S. subsidiary, Lupin Pharmaceuticals Inc., has got approval to sell the generic form of an anti-diabetes drug (for type II diabetes) in the U.S. market. Currently, specialty biopharmaceutical company Santarus Inc. holds the right to market the patented drug Glumetza HCL ER in the U.S. market, the generic form of which (Metformin Hydrochloride extended release tablet) Lupin will market in dosages of 500 mg and 1000 mg. Continue Reading →
Pharmaceutical company Strides Arcolab announced repayment of its foreign currency convertible bonds, sticking to its earlier announced plan, thereby lowering its debt to equity ratio to more manageable levels. The company had sold its stake in Australian company Ascent Pharmahealth, which ran its generic pharmaceutical business in Australia and South East Asia, to Watson Pharmaceuticals. Strides had earned Rs 1,200 crore from this transaction, after paying tax.
Ipca Laboratories, a pharmaceutical company, has acquired UK-based Onyx Scientific (Onyx), by buying out the holding company Onyx Research Chemicals. The move adds to Ipca’s contract manufacturing business, for which it has set up a separate division called Covenance. No financial details have been disclosed.
India’s dispute with the European Union over the passage of generics drugs through EU territory is close to a resolution, or so it appears. The dispute dates back to 2008 when the EU began seizing drug shipments, of generic drugs being shipped to countries via the EU. India’s position as a leading supplier of generic drugs saw it being one of the worst affected.
JB Chemicals & Pharmaceuticals made headlines recently when it sold the over-the-counter business in Russia and the CIS (Commonwealth of Independent States) to Johnson & Johnson. Now, it has announced the sale of prescription part of the business to Dr Reddy’s Laboratories, another player with a significant presence in Russia.
JB Chemicals & Pharmaceuticals Ltd plans to exit Russia and the CIS (Commonwealth of Independent States) markets, its largest overseas presence.
Strides Arcolab has announced that Onco Therapies Ltd has got European Union approval for the marketing of carboplatin. This product is the first of the 37 products to be marketed by Pfizer Inc, as part of a strategic tie-up with Strides. Under this tie-up, Strides is to license and supply off-patent cancer drugs to Pfizer, for marketing in developed markets.
Dr Reddy’s Laboratories can now launch the generic version of Allegra D-24, an extended release version of blockbuster drug Allegra. It won a key case in the US courts which will allow it to go ahead with a launch, with the possibility of a compensation being awarded by the court, but with the risk of an appeal, which could see the matter well drag on further.
Indian pharmaceutical company Strides Arcolab has entered into a joint venture with a Brazilian company, BioChimico Industria Farmaceutica, to jointly market drugs for the hospital market. Strides will make the investment through an overseas subsidiary, Agila Specialities. The company owns a manufacturing facility in Campos, Brazil, which it acquired from South Africa’s Aspen Pharmacare, about a year ago, when the two companies restructured their business operations.