Category — Healthcare

Emcure Pharmaceuticals, India, Acquires Ottawa company

Emcure Pharmaceuticals, a drug maker based in Pune in the western state of Maharashtra, has acquired Canada‘s International Pharmaceutical Generics Ltd. and its marketing arm Marcan Pharmaceuticals. Marcan Pharma has over 60 approved products mainly available from McKesson and Kohl & Frisch, among other wholesalers, reports Economic Times.

Emcure recently estimated its annual global sales at over $670 million having widened its base from contract manufacturing. The company has a strong presence in India, U.S., and European markets.

Emcure’s entry into Canada is similar to the strategy it had adopted during the acquisition of U.S.-based Heritage Pharmaceuticals in 2011. Emcure’s support to Heritage accelerated its U.S. sales for FY 2016 to $265 million. Industry experts say that Canada could be attractive for Emcure, although there could be challenges as the Canadian government implements a reference pricing system.

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January 31, 2016   No Comments

Remote Cardiac Monitoring Device Wins Google’s Contest in India

 Cardiac Design Labs, a startup that has come up with an innovation to help cardiac patients in rural India access critical care through a wearable device, won a contest hosted by Google at the Startup India event, reports The Hindu. The company won $50,000 in equity and $100,000 Google cloud credits.

The Bangalore-based firm has built MIRCaM, a comprehensive suite that comprises of wearable sensors, a doctor’s terminal, a patient’s bedside tablet and a mobile app.

Remote Cardiac Monitor System

Remote Cardiac Monitor System

The concept combines communications and heart monitoring technology by which patients can be monitored from home, and a cardiologist is able to remotely interact and diagnose patients using his or her cell phone. The system provides real time analysis and generates instant alarms on episode detection or an abnormally rapid heart rate in users.

The company has partnered with four hospitals so far and will expand its reach to several others. “So far we have diagnosed over 300 patients at various locations,” Anand Madanagopal founder of Cardiac Design Labs told Economic Times.

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January 30, 2016   No Comments

Mars Inc., and India’s Tata Trusts Collaborate

Mars Food President Fiona Dawson and Mars family member Stephen Badger traveled to Mumbai on January 6 to sign a Memorandum of Understanding with the Tata Trusts and meet with its Chairman, Ratan Tata. Tata Trusts is a coalition of philanthropic trusts headquartered in India, with a mission to improve the quality of life of the communities it serves.

Fiona Dawson and Ratan Tata

Fiona Dawson and Ratan Tata

The memorandum of understanding seeks to advance the development of agriculture, address malnutrition, and improve food safety in India.

The two entities will develop methods and tools to increase crop productivity, farm income, and sustainability of select agriculture commodities, and to collaborate on the availability of safe, affordable, and sustainable raw materials from India. Mars Food, a segment of Mars, Incorporated, also intends to conduct joint research with the Tata Trusts on nutritional guidelines that can help address anemia and other forms of malnutrition, reports Consumer Goods Technology.

The collaboration will also extend to reducing Aflatoxin contamination in India.  Aflatoxin – a naturally occurring, poisonous chemical produced by certain molds – is a critical food safety issue in India. It affects raw materials such as the peanut, a key crop in India’s food supply chain. Mars has expertise in addressing Aflatoxin contamination and can draw on its Global Food Safety Center in China to conduct future research in this area.

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January 30, 2016   No Comments

2015: Highest M&A Deals in India Healthcare Market

According to a report in Live Mint which quoted data from VCCEdge, outbound mergers and acquisitions in the healthcare sector in India were worth $1.5 billion in 2015 as against $251 million in 2014.

Outbound Acquisitions

Acquirer Acquiree Deal Size
Lupin, India Gavis Pharmaceuticals, U.S. $880 million
Cipla, India InvaGen and Exelan, U.S. $550 million
Strides Arcolab, India Aspen Pharmacare, Australia $287 million

 

 

 

Inbound deals also more than doubled to $999 million in 2015 from $430 million in 2014.

 

Inbound Acquisitions

Acquirer           Acquiree Deal Size
Mylan, U.S. Famy-Care, India $800 million
Recipharm AB, Sweden Nitin Life Sciences, India $100 million
IHH Healthcare Bhd, Malaysia Ravindranath GE Medical, India $200 million
IHH Healthcare Bhd, Malaysia Continental Hospitals, India $45.4 million
Temasek Holdings, Singapore Medanta, India (18% stake) undisclosed
Bionpharma, U.S. Banner Life Sciences, India (25 products that generate $70 million annually) undisclosed

 

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January 30, 2016   No Comments

India’s Medtech Sector Sees Healthy Growth

On the recommendation of India’s Drugs Technical Advisory Board, the government has agreed to delink the medical devices sector from the pharmaceutical sector according to a report in The Times of India.

India’s Central Drugs Standards Control Organization will post the revised schedule on its Website, and will issue a legal notification regarding the change to the drug rules, the newspaper reported. Additionally, the new regulations require efficacy and safety testing to ensure that products made in India are produced according to internationally recognized standards.

India’s medtech industry is expected to surge forward. Becton, Dickinson & Co., CEO Vincent Forlenza told Livemint that he expects the Indian medtech market to grow more than 10% in the next five years due to growth in private sector investment in India’s hospital infrastructure, an expansion in the insurance marketplace, and India’s growing middle class. Siemens too has made sizable investments in medical device manufacturing facilities in the country. However, India still imports 70% of its medical devices. Economic Times reports that the U.S.‒India Business Council expects India’s medtech industry to grow from its current $4.4 billion in sales to $7 billion by 2016.

Having a separate body to regulate the medtech industry would “expedite the ongoing creation of research and development and product innovation that medical device companies offer India, leading to faster growth of medical device manufacturing in the country,” Maulik Nanavaty, senior vice president and president for neuromodulation at Boston Scientific, told Economic Times in July.

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January 30, 2016   No Comments