- Eris Lifesciences said it has acquired Mumbai-based dermatology-focused domestic formulations company Oaknet Healthcare for Rs 650 crore. The acquisition will be completed by way of a share purchase agreement and accordingly Oaknet will become a wholly-owned subsidiary of Eris, the drug firm said in a statement. Eris Lifesciences Chairman & Managing Director Amit Bakshi noted that Oaknet provides the company with a robust growth platform in the areas of dermatology and cosmetology. "In line with Strides and Zomelis acquisitions, we are confident that the Oaknet transaction will create long-term value for our shareholders,” he added. With a revenue base of Rs 195 crore in FY22, Oaknet brings a well-established portfolio of leading brands in dermatology and women’s health to the Eris stable, the drug firm said. (moneycontrol)
- Global pharma major Pfizer has set up a global drug development centre at the Indian Institute of Technology (IIT) Madras Research Park in Chennai that will develop and support products in global markets and Pfizer’s manufacturing centres worldwide. The centre’s capabilities will include the development of both, active pharmaceutical ingredients (APIs) and finished dosage forms (FDFs) of differentiated products such as complex/value-added formulations, controlled-release dosage forms, device-combination products, lyophilized injections, powder-fill products, and ready-to-use formulations.?Pfizer has invested over $20 million (Rs 150 crore) in the 61,000 sq ft research and technology center at the IIT Madras Research Park. While this center will be a part of a network of 12 global centers set up worldwide, it is the first and only one at present being set up by Pfizer in Asia. The centre integrates two essential functions under the export-oriented undertaking of Pfizer Inc.: Pharmaceutical Sciences (PharmSci) and Global Technology and Engineering (GT&E) Center of Excellence. PharmSci is dedicated to the development of anti-infectives, oncolytics, sterile injectables, anesthesia products, CNS products, and uniquely differentiated hospital products. GT&E pioneers next-generation API process and manufacturing technology to supply medicines to patients around the globe. “The proximity of Pfizer to IITM, scientists and students, the Tech corridor, and other leading industry start-ups will foster greater collaboration between industry and academia. The academicians at IITM will benefit from having access to Pfizer’s center.” said Prof. Ashok Jhunjhunwala, President, IITM Research Park. (Business today)
- Biocon Biologics said it can close the transaction of $3.34 billion Viatris' biosimilar business acquisition by as early as this quarter, if it gets a nod from regulatory agencies. “We have said (closing of transaction) in the second half (2022), if it can be done in the first quarter we will be very happy, .. with regulators we don't know.. it is the regulatory agencies in India that really have to speed up,” Mazumdar-Shaw said. In one of the largest outbound acquisitions by an Indian pharmaceutical company, Biocon Biologics (BBL) in March entered into a definitive agreement to acquire Viatris' biosimilars assets for $3.34 billion. BBL will pay Viatris $2 billion in cash at the closing of the deal, and another $335 million in 2024. As part of the deal, BBL will get Viatris' global commercial infrastructure in developed and emerging markets. Viatris' global biosimilars business with an estimated revenue of $875 million and EBITDA of $200 million for the calendar year 2022, which is estimated to exceed $1 billion in revenue next year. (ETHealthworld)?
- India’s pharma exports have witnessed a growth of 103 per cent since 2013-14 from Rs 90,415 crore to Rs 1,83,422 crore in 2021-22. The exports achieved in 2021-22 is the Pharma Sector’s best export performance ever and is a remarkable growth with exports growing by almost USD 10 billion in eight years, said Ministry of Commerce & Industry in a statement. Highlighting the achievement in a tweet, the Union Minister of Commerce and Industry Piyush Goyal said: “India’s booming drugs & pharmaceuticals exports more than double in 2021-22 compared to 2013-14. Under the active leadership of PM @NarendraModi ji, India is serving as ‘Pharmacy of the World”. India ranks third worldwide for production by volume and 14th by value. Indian pharma companies have made global mark with 60 per cent of the world’s vaccines and 20 per cent of generic medicines coming from India. The share of pharmaceutical and drugs in India’s global exports is 5.92 per cent. The formulations and biologicals continue to account for a major share of 73.31 per cent in total exports, followed by Bulk drugs and drug intermediates with exports of USD 4437.64 million. India’s top five pharma export destinations are the US, UK, South Africa, Russia and Nigeria. (IANS)
- Reducing its import dependence, one innovation at a time, Gujarat's pharmaceutical landscape is soon to change and evolve. With some 115 new plants getting manufacturing licenses for making bulk drugs and active pharmaceutical ingredients (API) since Covid-19 lockdown, the state is set to witness an investment of Rs 2,000 crore. Gujarat and India's pharma industry is highly dependent on China for procuring bulk drugs for vitamins, antibiotics, and steroids. This will reduce in a big way with new units coming up. Once the API park comes up, bigger companies will also invest here," said Dr H G Koshia, commissioner of Food and Drugs Control Administration (FDCA) - Gujarat. According to Gujarat FDCA, till 2019-20, the average number of new units manufacturing APIs stood at 30 per annum, which has now nearly doubled. Existing pharma makers in state make active pharma ingredients such as Cephalosporins, steroids, inorganic salts, proton pump inhibitors, analgesics, antipyretics and anti-inflammatory drugs like paracetamol, Diclofenac sodium, aceclofenac, ibuprofen, anti-hypertensives, anti-diabetics and anti-virals but the key starting materials for most of these are imported according to industry players. With new units coming up, APIs for oncology, hormones, vitamins, steroids, and antibiotics will be locally manufactured in Gujarat, which were earlier imported mainly from China. The upcoming units are mainly MSMEs eyeing at manufacturing of high-value products. Apart from API Parks, the central government has introduced the Production Linked Incentive (PLI) scheme for Key Starting Materials, drug intermediates and APIs. (TOI)
Based on my personal research & does not reflect my organization's views.
