Category — Pharmaceuticals
Lake Forest, Illinois based Hospira acquired an active pharmaceutical ingredient (API) manufacturing facility and an associated research and development facility in Aurangabad from Orchid Chemicals & Pharmaceuticals Ltd., a leading Indian pharmaceuticals company, for $218 million.
“Hospira’s acquisition of the 665 employee Orchid API facility will support supply continuity of key beta-lactam antibiotic products, improve our cost position and pave the way for future API development,” said Dr. C. Bhaktavatsala Rao, president and managing director, Hospira India. In addition the purchase includes an associated Orchid R&D facility based in Chennai, India, that will be directed primarily to beta-lactam and other API development with approximately 110 scientific personnel.
September 18, 2014 No Comments
India has overtaken China as the most attractive investment destination, according to Ernst & Young (EY), with the sharp depreciation in the rupee and opening up of new sectors to foreign players boosting the South Asian nation’s allure. This according to report published on CNBC. Companies are most likely to invest in India, followed by Brazil (2), China (3), Canada (4) and the United States (5), EY’s ninth bi-annual Capital Confidence Barometer – a survey of 1,600 senior executives across more than 70 countries – showed. Other nations in the top 10 are South Africa (6), Vietnam (7), Myanmar (8), Mexico (9) and Indonesia (10).
Sectors with the highest level of possible deals in India include Automotive, Technology, Life Sciences and Consumer Products.
The survey reported that 38 percent of the respondents feel that Merger and Acquisition volumes in India are expected to improve over the next 12 months, while 30 percent believe that these will remain stable. “The investor outlook for India remains positive, despite the challenges the country’s economy has faced in the recent past. At the same time, the improved condition of the world economy has helped increase confidence amongst deal makers, prompting them to take a bolder stance toward executing transactions,” said Amit Khandelwal, National Leader & Partner — Transaction Advisory Services, EY. “After two years, European countries (Britain and Germany) have made a comeback on the potential investment destinations list for Indian companies,” the report said. In August, the Indian government announced relaxation in foreing investor norms in many sectors, including multi-brand retail and telecom.
December 11, 2013 No Comments
Under Canada-India scientific and technological cooperation agreement, both the countries will soon begin collaborative research and development in biotechnology including life sciences and medical devices as reported in PharmaBiz
The program aims to stimulate innovative R&D projects, engaging small-to-medium-sized companies and/or larger, well established firms, that address a specific market need or challenge; demonstrate high industrial relevance and commercial potential; and aim to deliver benefit to all participants, and more broadly, to both nations. These projects help participants to become more competitive by developing global research-based alliances with the potential to foster increased or expanded international R&D collaboration.
The Department of Biotechnology (DBT) from India and International Science and Technology Partnerships Canada (ISTPCanada), an NGO selected by the government of Ontario on the Canadian side, have called for proposals from eligible scientists for the project. Researchers and managers of Indian companies, academic institutions, research hospitals or other R&D institutions that are headquartered and operate in India can be part of the project.
Each proposal must include an eligible lead from Ontario and from India. Although it is not mandatory, projects that engage a technology developer and a technology end-user/first customer will strongly be encouraged. Each proposal for the project must identify an eligible lead from Ontario and from India who will be responsible for the development and submission of the joint application within their province or country; be innovative and market-driven, leading to the proposed development of a new product or process leading to commercialization.
November 3, 2013 No Comments
Expenditures on Research & Development by 30 leading Indian pharmaceutical companies have gone up significantly by 19.7 per cent during the year ended March 2013 over the previous year. The focus of R&D by these companies is on new generic products in key therapeutic areas and not on new drug discoveries.
With higher spending on R&D they are set to tap upcoming opportunities from loss of patent exclusivity in the coming years. A net outcome of this trend is higher approvals for ANDAs and DMFs from highly regulated authorities in the USA, Europe and Japan. The higher investment in R&D has assisted well to establish strong presence in emerging markets and overcome fierce competition from multinational players. Biotechnology, CRAMS, and clinical trials will further boost the investments as multinational are looking India as preferred partner in R&D segment with availability of talent pool and affordability.
The R&D expenditure of Ranbaxy Laboratories, Torrent Pharma, Panacea Biotec, Venus Remedies, Parabolic Drugs and Divi’s Laboratories declined during 2012-13. But this was more than made up by increases averaging over 50 percent at some companies, says a report in PharmaBiz; Shasun Pharmaceuticals, Hikal, Unichem Laboratories, Biocon, Natco Pharma, Fresenius Kabi Oncology has pushed their R&D expenditure over 50 per cent during 20112-13. The R&D expenditure of Shasun Pharmaceuticals went up by 179 per cent to Rs.32.37 crore from Rs.11.62 crore and that of Hikal moved up by 139 per cent to Rs.31.85 crore from Rs.13.34 crore. Biocon’s registered strong R&D expenditure growth of 78.5 per cent to Rs.67.30 crore from Rs.37.70 crore. Unichem’s R&D investment jumped to Rs.103.34 crore from Rs.59.17 crore.
Sun Pharmaceutical, Piramal Healthcare, Wockhardt, Jubilant Lifesciences, Ipca Laboratories, Glenmark Pharma also registered handsome growth in R&D expenditure. Sun Pharmaceuticals has incurred R&D spending of Rs.310 crore, a growth of 42 per cent during 2012-13 and that of Jubilant Lifesciences moved up by 37.2 per cent to Rs.143.75 crore. Sun Pharmaceutical Advance Research Company’s R&D expenditure increased by 5.8 per cent to Rs.109 crore, which is higher than its net sales of Rs.87.82 crore during 2012-13
November 3, 2013 No Comments
Mylan Inc, a pharmaceuticals company headquartered in Cecil Township, Pennsylvania completed a $26 million buyout of a new formulation facility in Madhya Pradesh that it picked up from India’s Unichem Laboratories. Mylan also closed on a $32.5 million deal to buy a nearly new, FDA-approved plant in India from SMS Pharmaceuticals. That plant in Vizag manufactures active pharmaceutical ingredients through finished oncology products, including injectable drugs.
November 3, 2013 No Comments