Category — Pharmaceuticals
In January, at the World Economic Forum in Davos, Switzerland, nine companies in sectors ranging from automobile engineering to steel manufacturing were named as the finalists for the inaugural TIME India Awards that encompassed three categories—Best in Class Manufacturing, Manufacturing Innovator of the Year, and Young Maker of the Year.
On February 13, Norman Pearlstine, Chief Content Officer for TIME Inc., announced the winners at a ceremony in Mumbai at which Indian Prime Minister Narendra Modi was the guest of honor. The awards kicked off a week-long series of events to mark the Indian government’s “Make in India” initiative to boost the country’s manufacturing sector.
The Best in Class Manufacturing award was given to Tata Steel, while the Manufacturing Innovator of the Year award went to Hero MotoCorp, and the Young Maker of the Year award went to Yogesh and Rajesh Agarwal of Ajanta Pharma, reports TIME.
“The recipients of the first TIME India Awards are world-class companies that are making a real impact on the rapidly growing Indian economy,” said Pearlstine. “We are pleased to recognize them for their efforts during Make in India Week.”
February 13, 2016 No Comments
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.
January 31, 2016 No Comments
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.
|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.
|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|
January 30, 2016 No Comments
Novartis Group inaugurated its new business center, Novartis Knowledge City, in Hyderabad, India. A nine-storied structure with a gross area of 800,000 square feet, this facility is the largest of the group’s five global service centers, located in Mexico City, Dublin, Prague, Kuala Lumpur.
The Novartis Business Services in Hyderabad currently has 3,500 employees, and provides services in IT, financial reporting and accounting, human resources services, procurement and product lifecycle services. Pharma development focuses on data management, statistics, regulatory affairs, pharmacovigilence and clinical trial operations, reports Yahoo News.
December 23, 2015 No Comments
Purdue University has signed a memorandum of understanding with Dr. Reddy’s Laboratories Limited, Hyderabad, India, to strengthen pharmaceutical research and development. The intent is to forge a strong strategic partnership in a range of research areas and novel technologies. Areas of planned collaborative research and education include targeted drug delivery, manufacturing technology, scale-up of pharmaceutical operations, process engineering, and research and development methodologies and technology. The collaboration will include student engagement and faculty exchanges and may include a site at Purdue Research Park.
“Purdue has tremendous strength in pharmaceutical drug discovery and development research, but we need additional partners to help translate our discoveries through to the delivery of a medicine or technology,” Suresh Garimella, Purdue executive vice president for research and partnerships, said. “Dr. Reddy’s Laboratories is a global pharmaceutical company that shares our mission to accelerate the rate at which new, advanced treatments make it to the millions of patients in need of relief. This partnership combines strengths that could lead to world-changing research.”
December 4, 2015 No Comments