- Glenmark Pharmaceuticals Limited announced that it has become the first to launch Thiazolidinedione Lobeglitazone (Lobeglitazone) in India for the treatment of type 2 diabetes in adults. Lobeglitazone is an antidiabetic drug and it works as an insulin sensitizer and helps in making human cells more responsive to insulin. The drug was first developed by Chong Kun Dang Pharmaceutical Corporation, Seoul, Korea and it was approved for the management of Type 2 Diabetes in Korea in July 2013. Studies suggest there is a high prevalence of insulin resistance in India. This makes LOBG an appealing treatment option in managing uncontrolled Type 2 diabetes among insulin‐resistant diabetic patients, the company claims. “As per the International Diabetes Federation, diabetes affects 74 million adults in India, of which, around 40% of them seem to be insulin‐resistant. As a leading solutions provider in India for the treatment of diabetes, we are proud to introduce LOBG; an innovative and affordable drug, which will help in tackling insulin resistance among adult patients suffering from uncontrolled Type 2 diabetes in the country,” Alok Malik, EVP & Business Head ‐ India Formulations, Glenmark Pharmaceuticals, said in a statement. (The Financial Express)
- Drugmaker Hetero has acquired a manufacturing plant of Johnson & Johnson in Penjerla, Telangana, and with it, announced plans to invest $75 million (around ?600 crore) on the facility. Sources said Hetero has acquired the facility for ?130 crore. Hetero said the plant, spread across 55.27 acres, is set to emerge as its flagship sterile pharmaceutical and biologics manufacturing unit. “We are committed to an investment upwards of $75 million to upgrade and enhance existing facilities at the site and expand manufacturing of our global biologics and sterile pharmaceutical products,” managing director Vamsi Krishna Bandi said in a release. With this facility, Hetero aims to add 2,000 new jobs in biochemistry, pharmaceutical sciences, molecular biosciences, engineering, and ancillary services. The acquisition reinforces Hetero’s renewed commitment to expand reach and capabilities in order to respond with agility to the world’s evolving health needs and produce high-quality and affordable medicines, the company said. (The Hindu)
- US drug maker Baxter inaugurated its global pharmaceuticals research and development (R&D) centre in Ahmedabad, India. Baxter said the Ahmedabad R&D centre will help the company to accelerate innovation in generic and differentiated injectable pharmaceuticals. The 20,500-square-foot, state-of-the-art R&D Centre houses sophisticated equipment and research labs that will focus on pharmaceutical product development and capabilities in therapeutic areas such as critical care, analgesic, renal, cardiovascular anesthesia, anti-infective and antipyretic. It will also support Baxter's global manufacturing facilities, including those in Ahmedabad, Germany, Ireland, Italy, and the United States, among others. The Deerfield, Illinois headquartered company completed the acquisition of the Ahmedabad-based Claris Injectables in 2017 for $625 million. The acquisition gave Baxter a large manufacturing footprint in India. (ETHealthWorld)
- India's pharmaceutical sales continued its double-digit growth for the fourth straight month in September, led by growth across therapies. The pharma industry's revenue rose 13% over a year earlier in September 2022, India Ratings and Research Pvt. said, citing data released by the All-Indian Origin Chemists and Distributors. That compares with 12.6% year-on-year rise in September 2021 and a 12.1% rise in August 2022. “The Indian pharmaceuticals market continued to deliver robust performance on account of strong double-digit growth across therapies except anti-infectives and respiratory," Krishnanath Munde, associate director at India Ratings, told BQ Prime. "This is the normal seasonal trends for the therapies since Covid-19 influence was not there in August 2021." Motilal Oswal in its note said "The growth was dragged lower by anti-infectives (flat year-on-year) and vaccines (down 7.3% year-on-year)." (BQprime)
- The pecking order of top drug companies in terms of market capitalization has undergone a transformative change over the last five years. Biggies like Lupin, Zydus and Glenmark have dropped in the rankings, while Divi’s, Torrent Pharma and Laurus have become the new favorites of investors. Sun Pharma is the only company from the original list that has retained its numero uno position. Cipla and Dr Reddy’s continue to feature among the top five, according to an industry analysis over 2017-2022. In 2017, the club of the most-valued companies was led by Sun Pharma, followed by Lupin, Cipla, Dr Reddy’s and Zydus Lifesciences. Money seems to be now chasing those with a sizeable domestic thrust, strong API (raw materials) or CRAMS (contract research and manufacturing services) business, and a good governance structure, experts say. In a major upset over the last five years, Mumbai-based Lupin fell from the second slot to the 10th position, while Zydus declined from the fourth to eighth position. Similarly, Glenmark no longer features among the top 10 most-valuable companies. Among the movers and shakers, Hyderabad-based Divi’s Labs and Ahmedabad firm Torrent Pharma moved up to the second and fourth position, respectively. Domestic formulation firm IPCA and API manufacturer Laurus Labs, which in 2017 did not figure among the top 15, gained substantially and are now ranked 10th and 11th, respectively, indicating the high growth potential of these businesses. “Over the last five years, investors have witnessed some of the highest value-creation in areas of CRAMS (Lau-rus, Divi’s), domestic formulations (JB Chemicals) and geographically diversified business models (Cipla, Dr Reddy’s). Also, it appears that markets are nervous about business models which are US and other regulated markets -centric,” said Candle Partners founder Navroz Mahudawala. “Investors are chasing good quality companies with solid corporate governance, or those with a robust domestic business. Money is following those that are manufacturing APIs, speciality and niche drugs. The focus on the China-plus-one strategy and CRAMS has also proven beneficial to certain domestic companies,” said PwC India partner Sujay Shetty. (TOI)
The above is based on my own personal research and understanding and does not reflect my organization's views.
