Category — Pharmaceuticals
The Economic Times reports that in a survey of drug making companies in India’s $17 billion pharmaceutical industry the top 20 of them are changing their conservative ways of marketing for newer technology ranging from scientific detailing to doctors to using newer algorithms for better insights into issues like patient compliance.
Mobile apps and social media will play a bigger role in this growth, the study that is part of a larger report on global digital marketing trends found. Marketing spends through digital platforms is estimated to shoot up nearly 50% in the next two years to touch $33 million, Bangalore-based market research firm Indegene‘s study shows.
Sun Pharma launched a mobile app called RespiTrack earlier this year to ensure patients with asthma adhere to treatment regimens; GlaxoSmithKline’s local unit says that at least 20%-30% of its customers are already in the digital world; and Abbott Healthcare has introduced several tools like Knowledge Genie, a heart and liver app, and another one for vertigo exercises. Some of these build on augmented and virtual reality to engage with both doctors and patients.
November 15, 2016 No Comments
Chicago, Illinois-based Abbott will set up an innovation and development center in Mumbai, India aimed at developing new drug formulations, new indications, dosing, packaging and other differentiated offerings to feed into its global branded generics business that clocked sales of $3.7 billion last year. The center will act as a “hub” and ship products to at least 30 countries that will further develop the products to suit local needs, reports the Economic Times.
Without divulging the amount the company will invest, Michael Warmuth, Executive VP, Established Pharmaceuticals division of Abbott said the proposed investments will double the company’s local scientific manpower. He described India as a “cornerstone of success” making specific reference as a “talent exporter” and how it helped Abbott gain a scientific edge in its other countries of operations.
Commenting on the overall regulatory and economic environment in India, Warmuth said the regulators are trying to do the right things but he maintained it would be good to see the environment a little more stable when making investment decisions. “Overall that does not really change our view on the market itself,” he added.
November 10, 2016 No Comments
The Singapore and India-based private equity firm Everstone Capital invested $33 million in contract research and drug delivery company Rubicon Research, in a bid to diversify its portfolio. Rubicon has a USFDA-approved manufacturing plant in Mumbai, and it provides solutions for bioavailability enhancement, gastric retention, taste masking, and customizing the release profiles of drugs. It also offers life cycle management services for pharmaceutical products.
“We welcome this partnership with Everstone and believe, with their deep managerial and operational expertise, capital infusion, and global connectivity, we will be able to significantly accelerate our growth,” said Pratibha Pilgaonkar, chief executive, Rubicon Research.
Founded by former Goldman Sachs executives, Sameer Sain and Atul Kapoor in 2006, the private equity firm has stepped up its deal making pace this calendar year, reports the Economic Times. Brooks Entwistle is a partner and Chief Executive Officer of The Everstone Group.
November 4, 2016 No Comments
BioSpectrum reports that the government of India has approved the establishment of a regional center for biotechnology in the National Capital Region. Under the auspices of United Nations Educational, Scientific and Cultural Organization (UNESCO) , the center will be an institution of national importance which will provide teaching and research facilities in biotechnology and related fields, facilitate transfer of technology and knowledge in the SAARC region and Asia, and create a hub of biotechnology expertise, and promoting cooperation at the international level.
The country’s Union Minister of Science & Technology and Earth Sciences, Dr. Harshvardhan said the Indian biotech sector had grown threefold and that the country had immense potential in terms of research and development facilities, knowledge, skills, and cost effectiveness to emerge as a global player. “This institution will help us train professionals from the whole country, and will serve as a mentor institution helping all bio-technology institutions in the country,” he added.
August 7, 2016 No Comments
Keeping in mind the ‘Make in India’ initiative, India’s Federal government has decided to comprehensively review and revise the existing 76-year old drug laws on two important features: 1) to facilitate the ease of doing business, and 2) to substantially enhance the quality and efficacy of its products. The rewrite of the laws will take into account the regulation of biologics, regenerative medicines and clinical trials.
The Ministry of Health and Family Welfare has framed separate rules under the existing Act for regulating medical devices.The ministry is also working to bring about separate legislations for regulating medical devices and drugs and cosmetics.
A draft of the revised drugs law is expected to be ready in two months, top drug controller G.N. Singh told Reuters last week. “We thought it was better to revise the law than to put more bandages on it,” Singh said. He also mentioned that the government had requested regulators from the U.S. and Europe for input.
Meanwhile, the medical devices industry has welcomed the Cabinet decision. “AdvaMed appreciates the government of India’s efforts over the years to press forward with legislation that would create separate and appropriate regulations for medical devices,” said a statement issued by AdvaMed India, a forum of medical devices manufacturers.
“We view the withdrawal of the Drugs and Cosmetics (Amendment) Bill, 2013 as an opportunity to start fresh and consult with relevant stakeholders to draft new and globally harmonized legislation that would once and for all carve out distinct regulations for medical devices. This step is critical to the growth of the industry and — equally as important — to ensure that patients have access to innovative and lifesaving technologies,” added Advamed.
June 23, 2016 No Comments