Category — Pharmaceuticals

GE Healthcare Awarded ‘Indian Medical Device Company of the Year’

At the ‘India Pharmaceutical & India Medical Device 2018’ exhibition and conference that was held from February 15 – 17, 2018 in the southern city of Bangalore, GE Healthcare was announced as the Indian Medical Device Company of the Year for 2018.

GE Healthcare

GE Healthcare was conferred this award for strong business performance and robust growth in revenue and exports. Nalinikanth Gollagunta, president and CEO, GE Healthcare, India and South Asia said, “This recognition is a reflection of our commitment to bring high-quality affordable medical technologies to solve the pressing healthcare needs of the country.”

February 16, 2018   No Comments

Israel, India Agree to Promote Homeopathy

During the Israeli Prime Minister Benjamin Netanyahu‘s visit to India in January, India and Israel signed a memorandum of understanding to enhance cooperation and boost research in homeopathy, a system of alternative medicine.

The agreement to collaborate is between India’s Central Council for Research in Homeopathy, the Ministry of AYUSH, and Israel’s Center for Integrative Complementary Medicine at the Shaare Zedek Medical Center, Jerusalem.

homeopathic meds

The MoU will also establish a joint working group.

February 7, 2018   No Comments

India To Extend Healthcare to 100 Million Families

In the annual budget for 2019, India’s minister for finance, Arun Jaitley, announced a National Health Protection Scheme that will provides health insurance coverage for 100 million of India’s most vulnerable families up to 500,000 rupees, or about $7,825 each year, an amount in India that would cover the equivalent of five heart surgeries. With approximately 500 million beneficiaries, “this will be the world’s largest government-funded healthcare program,” Jaitley told parliament in his speech. “The government is progressing towards a goal of universal health coverage,” he added.

Jaitley also announced the creation of Health and Wellness Centers, which will “bring healthcare closer to home.” 150,000 such centers will provide comprehensive health care for non-communicable diseases, maternal and child health services, essential drugs, and diagnostic services. $314 million has been allocated for this in the current budget.

Additional funding may be channeled via Corporate Social Responsibility programs, and philanthropic institutions will be encouraged to “adopt” some of these Health & Wellness Centers.

Picture of India's finance minister Arun Jaitley

Arun Jaitley, minister for finance, India

“This is huge. It’s the biggest step the government has taken in 20 years in health care,” said Dr. Ajay Bakshi, the former chief executive of Manipal Hospitals, a chain of 16 private hospitals based in Bangalore.

India spends a little over one percent of its GDP on public healthcare — one of the lowest proportions in the world — a sum the government is aiming to increase to 2.5 percent by 2025. Currently the government provides $470 toward healthcare for poor families, but that sum is insufficient to cover most medical procedures. Jaitley stated that the government was “seriously concerned” that millions of Indians had to borrow or sell assets to receive adequate treatment in hospital.

The government will levy a surtax that will raise about $1.7 billion a year specifically for health care programs, as well as introduce a new tax on capital gains. Jaitley added that 24 new state-run medical colleges will be set up, and rural hospitals will be upgraded.

February 1, 2018   No Comments

Biocon India Receives US FDA Approval for Biosimilar

India’s Bangalore-based Biocon Ltd is the country’s first company to have a “biosimilar” approved in the U.S. for Roche’s drug Trastuzumab, marketed as Herceptin, and used in treating certain breast and stomach cancers.

Biocon Ltd.

Kiran Mazumdar-Shaw, the company’s chairperson and managing director said, “This was the first biosimilar for Herceptin approved by the US FDA. It was a proud milestone for us because there are competitors, including Pfizer, Merck and Amgen, with deeper pockets and more experience in developing and selling biologics, which says a lot about what our scientists have done. It’s recognition that India has the skills to develop such complex molecules. It puts India on the global map of biosimilars.”

The biosimilar, which will be sold under the brand name Ogivri, brings Biocon a step closer to building a truly original bio-drug, or ‘novel biologic’ for various markets. Biocon already has two novel biologics—Nimotuzumab for treating head and neck cancer and Itolizumab for treating psoriasis—that it markets in India, added Mazumdar-Shaw.

January 30, 2018   No Comments

India’s Torrent Pharma Acquires PA-Based Bio-Pharm

Based in the Indian city of Ahmedabad, Gujarat, Torrent Pharmaceuticals Ltd., announced the acquisition of the generic pharmaceuticals and over-the-counter drug maker, Bio-Pharm, Inc. based in Levittown Pennsylvania.

Established in 1992 Bio-Pharm, Inc., has a proven track record in research and development and in the manufacturing of oral solutions, suspensions, and suppositories.

Medication

“This acquisition is an important step for increasing Torrent’s presence in the United States, is consistent with our strategy of dosage form diversification, and provides us with new capabilities including manufacturing and R&D presence in the US,” the company said. Torrent plans further investments to expand Bio-Pharm’s facilities and will increase the number of product filings from Bio-Pharm.

January 22, 2018   No Comments