Source: Pharmabiz
Johnson & Johnson (J&J) has generated higher net profit of US$ 12,949 million during the year ended 2008 as against $10,576 million in the previous year, a strong growth of 22.4 per cent. The net earnings include special items related to in-process research and development charges of $181 million and an after-tax gain of $229 million representing the net impact of litigation settlements in the fourth quarter. With improvement in profitability, the earning per share improved to $4.57 from $3.63 in the preceding year.
The company's sales increased only by 4.3 per cent to $63,747 million from $61,095 million. Worldwide pharmaceutical sales declined by 1.2 per cent to $24,567 million from $24,866 million in the previous year. Sales results reflect the strong performance of Velcade, a treatment for multiple myeloma; Remicade, a biologic approved for the treatment of a number of immune mediated inflammatory diseases; Risperdal Consta, an antipsychotic medication; and Topamax, an antiepileptic and treatment for the prevention of migraine headaches. Sales results of Risperdal were negatively impacted by generic competition and sales of Procrit were lower due to a decline in the market.
Worldwide, the medical devices and diagnostics segment achieved annual sales of $23.1 billion in 2008, representing a growth of 6.4 per cent.
J&J's sales in US declined slightly to $32,309 million during 2008 from $32,444 million in the previous year. However, its international sales improved by 9.7 per cent to $31,438 million from $28,651 million. Its sales in Europe increased by 7.3 per cent to $16,782 per cent and in Asia-Pacific and Africa improved by 13.9 per cent to $9,483 million.
William C Weldon, chairman and CEO, said, "I am extremely proud of J&J's accomplishments in 2008 and the way our people met our commitments. We delivered solid earnings growth and made significant progress in our research pipeline while continuing to invest in the future growth of our business. I am confident that we are well positioned for continued leadership and growth in health care." The company projected earning per share of $4.45 to 4.55 for the year 2009.
Showing posts with label NEWS. Show all posts
Showing posts with label NEWS. Show all posts
Wednesday, January 21, 2009
Friday, January 16, 2009
USFDA OPENS INDIAN OFFICES
The US Food and Drug Administration opened its offices in New Delhi and Mumbai. The office will regulate quality of medicines from Indian drug makers sold in US. The office would also expedite the process for getting FDA's approval for Indian drug markers interested in exporting their medicines to US. The US department will send its 10 USFDA officials to India, besides 14 other location around the world including China, Europe & Latin America.
AUROBINDO GETS APPROVAL FROM CANADA
Aurobindo Pharmaceuticals has received regulatory approval from Canada for a drug used in epilepsy. Aurobindo Pharmaceuticals has received approval from federal department Health Canada for Gabapentin capsules.
TARO REJECTED SUN OFFER
Taro Pharmaceuticals rejected Sun Pharma proposals to buy remaining stake in Taro Pharmceuticals. Sun Pharma owns 36% stake in Taro, on last week proposed to increase the offer price by 23% to $9.5 each as first opinion for all shareholders. Sun offered $9 each for non promoter sharholders and $8.25 each for promoter shareholders. The Israeli company's board has stated that it did not view the two options set forth in Sun's proposal as constructive or even 'in the ballpark.' Both Sun's merger proposal which signed in 2007 and its tender offer involved that represted a reduction from $10.25 that Sun paid for Brandes' 8% minority interest in Taro, the board rejected these two options.
Wednesday, January 14, 2009
Drug maker Pfizer cutting up to 800 scientist jobs
AP
00:00 EST Wednesday, January 14, 2009
Pfizer Inc., the world's biggest drug company, is laying off up to 800 scientists this year in its latest effort to refocus disappointing research efforts and cut its massive overhead ahead of an anticipated crash in revenue. New York-based Pfizer plans to reduce its global research staff of about 10,000 people by 5 per cent to 8 per cent this year, company spokeswoman Kristen Neese said yesterday. "This is in line with our refocused research areas." Pfizer announced in September it was narrowing its research focus to six disease areas - Alzheimer's, cancer, schizophrenia, pain, inflammation and diabetes - and abandoning new research in other areas. PFE (NYSE) rose 23 cents to $17.59.
© The Globe and Mail
00:00 EST Wednesday, January 14, 2009
Pfizer Inc., the world's biggest drug company, is laying off up to 800 scientists this year in its latest effort to refocus disappointing research efforts and cut its massive overhead ahead of an anticipated crash in revenue. New York-based Pfizer plans to reduce its global research staff of about 10,000 people by 5 per cent to 8 per cent this year, company spokeswoman Kristen Neese said yesterday. "This is in line with our refocused research areas." Pfizer announced in September it was narrowing its research focus to six disease areas - Alzheimer's, cancer, schizophrenia, pain, inflammation and diabetes - and abandoning new research in other areas. PFE (NYSE) rose 23 cents to $17.59.
© The Globe and Mail
Tuesday, January 13, 2009
Novartis donates $225,000 to Oklahoma State University Foundation
Source: Pharmabiz
North Carolina
Novartis Animal Health of Greensboro, North Carolina, has donated $225,000 to the Oklahoma State University Foundation to become the first industry partner of the university's National Center for Veterinary Parasitology, the company announced January 6.
The grant will help make the centre operational by providing support for laboratory renovations and related start-up costs, according to the foundation, OSU's principal fund-raising organization. Renovations are scheduled to begin in 2009 and graduate studies in 2010.
As a founding partner, Novartis will help guide and develop the centre as a member of its advisory board and interact with graduate students and residents in training.
Ultimately, OSU sees the centre becoming a national resource for diagnostic testing that will help train clinically oriented veterinary parasitologists.
"In the last several years, there has been a decline of veterinary parasitology training in the US," said Michael Lorenz, DVM, Dipl. ACVIM, dean of the Center for Veterinary Health Sciences. "The NCVP is an opportunity for us to continue training in the discipline of veterinary parasitology and to provide a source for national diagnostic testing."
Novartis Animal Health researches, develops and commercializes leading animal treatments that meet the needs of pet owners, farmers and veterinarians. Headquartered in Basel, Switzerland and present in almost 40 countries, Novartis Animal Health employs about 2,700 people worldwide.
North Carolina
Novartis Animal Health of Greensboro, North Carolina, has donated $225,000 to the Oklahoma State University Foundation to become the first industry partner of the university's National Center for Veterinary Parasitology, the company announced January 6.
The grant will help make the centre operational by providing support for laboratory renovations and related start-up costs, according to the foundation, OSU's principal fund-raising organization. Renovations are scheduled to begin in 2009 and graduate studies in 2010.
As a founding partner, Novartis will help guide and develop the centre as a member of its advisory board and interact with graduate students and residents in training.
Ultimately, OSU sees the centre becoming a national resource for diagnostic testing that will help train clinically oriented veterinary parasitologists.
"In the last several years, there has been a decline of veterinary parasitology training in the US," said Michael Lorenz, DVM, Dipl. ACVIM, dean of the Center for Veterinary Health Sciences. "The NCVP is an opportunity for us to continue training in the discipline of veterinary parasitology and to provide a source for national diagnostic testing."
Novartis Animal Health researches, develops and commercializes leading animal treatments that meet the needs of pet owners, farmers and veterinarians. Headquartered in Basel, Switzerland and present in almost 40 countries, Novartis Animal Health employs about 2,700 people worldwide.
Karnataka govt asks KDPMA to identify land for pharma SEZ
Source: Pharmabiz
Nandita Vijay, Bangalore
Karnataka Drugs and Pharmaceuticals Manufacturers' Association (KDPMA) is now aggressively scouting for land for the Pharma Special Economic Zone (SEZ). Initiative is subsequent to the meeting the Association had with Karnataka government officials with a proposal to have a dedicated SEZ.
To begin with the Association sent in a proposal to the Karnataka Health & Family Welfare secretary M Madan Gopal. The Association was then directed to meet the Economic Advisor to the Karnataka government, KV Raju who asked KDPMA to identify the land for the project.
"We want the Pharma SEZ to be located around 40 kilometres from Bangalore. We require an integrated and self contained complex which will have an advanced research centre and allied industry units to support the instrumentation needs in drug manufacture. Such an SEZ will require 1,000 acres, of which 500 acres will be taken up for development in the phase-I and remaining during the phase-II. The state government will need to provide the infrastructure which includes excellent road connectivity, regular water supply, uninterrupted power supply, a high-end Effluent Treatment Plant among others. Further, we insist on Bangalore primarily because it would be easy to get the required technical personnel to work here, Anjan K Roy, president, KDPMA and managing director," RL Fine Chem told Pharmabiz.
In the past, government had identified land at Hassan for a pharma SEZ. Although companies have invested here, there has been a serious reluctance by the qualified technical workforce to re-locate here. Therefore, we need to have easy access from Bangalore to allow the personnel to commute with no difficultly, added Roy.
"We have been lobbying hard for a separate SEZ for the pharma sector which is valued at Rs 3,500 crore, growing between 10-12 percent annually and generating a substantial chunk of exports too," said Jatish N Sheth, secretary, KDPMA and director, Srushti Pharmaceuticals.
Karnataka pharma has registered export earnings to the tune of Rs 1,750 crore ending December 2008. The major exporters are Strides Arcolab, Micro Labs, RL Fine Chem, Medreich, Bal Pharma, Anglo French, Bentley Remington, Lake Chem, Resonance Laboratories, Srushti Pharmaceuticals to name a few.
There have been several SEZs approved by the State government in Bangalore, but these are private initiatives for the information technology (IT) sector. Even the State government supported IT & BT Park at Rajajinagar Industrial Area, Bangalore has only IT companies setting up operations there.
In 2005, KDPMA went through two rounds of meetings with the ministers of health and industry apart from interactions with the senior officials from the directorate of industries & commerce for a dedicated Pharma SEZ in Bangalore. But the government preferred to offer Hassan which is a leading industrial town in the central part of the state. Although Bal Pharma, Medreich and Meyer have invested here, it has been extremely difficult to attract the right personnel. Therefore KDPMA is now insisting on Bangalore as the location to have access to the right resources.
The SEZ will provide the industry an integrated infrastructure for export production, expeditious approval mechanism and a package of incentives to attract foreign-domestic investments to promote export-led growth. Among the fiscal incentives are exemption from customs duty on goods imported, and no excise duty on goods brought from Domestic Tariff Area (DTA).
Nandita Vijay, Bangalore
Karnataka Drugs and Pharmaceuticals Manufacturers' Association (KDPMA) is now aggressively scouting for land for the Pharma Special Economic Zone (SEZ). Initiative is subsequent to the meeting the Association had with Karnataka government officials with a proposal to have a dedicated SEZ.
To begin with the Association sent in a proposal to the Karnataka Health & Family Welfare secretary M Madan Gopal. The Association was then directed to meet the Economic Advisor to the Karnataka government, KV Raju who asked KDPMA to identify the land for the project.
"We want the Pharma SEZ to be located around 40 kilometres from Bangalore. We require an integrated and self contained complex which will have an advanced research centre and allied industry units to support the instrumentation needs in drug manufacture. Such an SEZ will require 1,000 acres, of which 500 acres will be taken up for development in the phase-I and remaining during the phase-II. The state government will need to provide the infrastructure which includes excellent road connectivity, regular water supply, uninterrupted power supply, a high-end Effluent Treatment Plant among others. Further, we insist on Bangalore primarily because it would be easy to get the required technical personnel to work here, Anjan K Roy, president, KDPMA and managing director," RL Fine Chem told Pharmabiz.
In the past, government had identified land at Hassan for a pharma SEZ. Although companies have invested here, there has been a serious reluctance by the qualified technical workforce to re-locate here. Therefore, we need to have easy access from Bangalore to allow the personnel to commute with no difficultly, added Roy.
"We have been lobbying hard for a separate SEZ for the pharma sector which is valued at Rs 3,500 crore, growing between 10-12 percent annually and generating a substantial chunk of exports too," said Jatish N Sheth, secretary, KDPMA and director, Srushti Pharmaceuticals.
Karnataka pharma has registered export earnings to the tune of Rs 1,750 crore ending December 2008. The major exporters are Strides Arcolab, Micro Labs, RL Fine Chem, Medreich, Bal Pharma, Anglo French, Bentley Remington, Lake Chem, Resonance Laboratories, Srushti Pharmaceuticals to name a few.
There have been several SEZs approved by the State government in Bangalore, but these are private initiatives for the information technology (IT) sector. Even the State government supported IT & BT Park at Rajajinagar Industrial Area, Bangalore has only IT companies setting up operations there.
In 2005, KDPMA went through two rounds of meetings with the ministers of health and industry apart from interactions with the senior officials from the directorate of industries & commerce for a dedicated Pharma SEZ in Bangalore. But the government preferred to offer Hassan which is a leading industrial town in the central part of the state. Although Bal Pharma, Medreich and Meyer have invested here, it has been extremely difficult to attract the right personnel. Therefore KDPMA is now insisting on Bangalore as the location to have access to the right resources.
The SEZ will provide the industry an integrated infrastructure for export production, expeditious approval mechanism and a package of incentives to attract foreign-domestic investments to promote export-led growth. Among the fiscal incentives are exemption from customs duty on goods imported, and no excise duty on goods brought from Domestic Tariff Area (DTA).
GSK resubmits NDA for Solzira in restless legs syndrome
London
GlaxoSmithKline (GSK) and XenoPort, Inc announced that GSK has resubmitted the New Drug Application (NDA) to the US Food and Drug Administration (FDA) requesting approval of Solzira (gabapentin enacarbil) extended release tablets for the treatment of moderate-to-severe primary Restless Legs Syndrome (RLS).
The FDA had requested that the data in a single study be reformatted. In addition, GSK conducted a review of other clinical studies taking this input into account. The withdrawal was not related to the content of the filing.
Solzira is a new chemical entity that is designed to improve upon the pharmacokinetics of gabapentin by taking advantage of high-capacity transport mechanisms in the gastrointestinal tract to improve absorption.
XenoPort is a biopharmaceutical company focused on developing a portfolio of internally discovered product candidates that utilise the body's natural nutrient transport mechanisms to improve the therapeutic benefits of existing drugs.
GlaxoSmithKline (GSK) and XenoPort, Inc announced that GSK has resubmitted the New Drug Application (NDA) to the US Food and Drug Administration (FDA) requesting approval of Solzira (gabapentin enacarbil) extended release tablets for the treatment of moderate-to-severe primary Restless Legs Syndrome (RLS).
The FDA had requested that the data in a single study be reformatted. In addition, GSK conducted a review of other clinical studies taking this input into account. The withdrawal was not related to the content of the filing.
Solzira is a new chemical entity that is designed to improve upon the pharmacokinetics of gabapentin by taking advantage of high-capacity transport mechanisms in the gastrointestinal tract to improve absorption.
XenoPort is a biopharmaceutical company focused on developing a portfolio of internally discovered product candidates that utilise the body's natural nutrient transport mechanisms to improve the therapeutic benefits of existing drugs.
Govt to decide next course of action on price control on patented drugs soon
Source: Pharmabiz
Ramesh Shankar, Mumbai
Even as the recommendations by the high-powered panel, constituted by the Union chemicals ministry around two years ago for price negotiations of drugs patented abroad and marketed in the country, is getting inordinately delayed, the government will soon decide the next course of action on the issue.
"Concerned authorities in the department of pharmaceuticals and other ministries will meet soon, probably on January 12, to take the next course of action on this issue. Nobody knows what will be the next course of action. The government has to decide whether further study is needed on the issue or whether the government has to consult the stakeholders further, all these issues will be discussed in the proposed meeting next week," a senior official involved in the issue said.
The official said that the high-level panel under the joint secretary in the department of pharma did not finalize its recommendations so far even though the panel held several rounds of meetings with all the stake-holders during the last one year. Apart from hearing all the stake-holders, the panel is studying the systems existing in other countries on the issue. The panel was set up in February 2007 to suggest a mechanism on price negotiations of drugs patented abroad and marketed in the country. The panel held several meetings so far with industry associations, NGOs, concerned ministries and departments, but failed to come up with an amicable solution to the issue so far.
While the government aims to ensure that the drugs and medical devices patented abroad are made available at affordable prices to the common man in the country as and when the multinational companies launch them in India, the big pharma companies are opposing the government move to control the prices of patented drugs while introducing them in the country on the plea that it is discriminatory and will go against the spirit of patent protection.
The big companies argue that the government move will only prove to be counter-productive as the multinational companies will not launch their products in the country if such a restriction is imposed on them, creating a situation where the needy patients of this country will not have easy access to the latest products of the pharmaceutical industry. The research and development (R&D) is a highly capital intensive and highly risky business, and a company spends an average of one billion US dollar for a new drug to develop. The companies have to recover the money spent on R&D and also to continue the R&D activities, they argue.
Ramesh Shankar, Mumbai
Even as the recommendations by the high-powered panel, constituted by the Union chemicals ministry around two years ago for price negotiations of drugs patented abroad and marketed in the country, is getting inordinately delayed, the government will soon decide the next course of action on the issue.
"Concerned authorities in the department of pharmaceuticals and other ministries will meet soon, probably on January 12, to take the next course of action on this issue. Nobody knows what will be the next course of action. The government has to decide whether further study is needed on the issue or whether the government has to consult the stakeholders further, all these issues will be discussed in the proposed meeting next week," a senior official involved in the issue said.
The official said that the high-level panel under the joint secretary in the department of pharma did not finalize its recommendations so far even though the panel held several rounds of meetings with all the stake-holders during the last one year. Apart from hearing all the stake-holders, the panel is studying the systems existing in other countries on the issue. The panel was set up in February 2007 to suggest a mechanism on price negotiations of drugs patented abroad and marketed in the country. The panel held several meetings so far with industry associations, NGOs, concerned ministries and departments, but failed to come up with an amicable solution to the issue so far.
While the government aims to ensure that the drugs and medical devices patented abroad are made available at affordable prices to the common man in the country as and when the multinational companies launch them in India, the big pharma companies are opposing the government move to control the prices of patented drugs while introducing them in the country on the plea that it is discriminatory and will go against the spirit of patent protection.
The big companies argue that the government move will only prove to be counter-productive as the multinational companies will not launch their products in the country if such a restriction is imposed on them, creating a situation where the needy patients of this country will not have easy access to the latest products of the pharmaceutical industry. The research and development (R&D) is a highly capital intensive and highly risky business, and a company spends an average of one billion US dollar for a new drug to develop. The companies have to recover the money spent on R&D and also to continue the R&D activities, they argue.
Global pharma companies rush to India for legal offshoring expertise
Nandita Vijay, Bangalore
An increasing number of global pharma companies are keen to increase the legal off-shoring business with India because of the huge cost advantage. When legal offshoring is out-sourced from India, global majors save up to 40-50 per cent.
The growth in the sector is primarily attributed to the similarity in the legal system with US and UK. There is huge availability of qualified personnel which includes graduates, engineers, 79,000 lawyers and 5,000 PhDs. Companies can save up to 40-50 per cent of the costs by getting the processes done in India vis-Ã -vis a high cost locations.
Organized Indian Vendors in the legal space have existed since '80s and have now gained lot of process maturity. The government of India has also given considerable thrust to legal off-shoring, Rishikesh Mandilwar, Director- Market Expansion, Zinnov Management Consulting Private Limited told Pharmabiz.
The legal offshoring sector in the country is estimated at $600 million. Currently, a large percentage of business from US and EU are being offloaded to India.
India is extremely cost competitive and global pharma companies are capitalizing on the low cost advantage of process efficiencies, he added.
Some of the notable service providers in India engaged in the pharma legal offshoring space includes Evalueserve, Nishith Desai, T & T Consultants, Remfry & Sagar and SciTech Patent Art. Emerging countries like China, South Africa and Mexico are competing with India for a share of the Legal Processing Outsourcing (LPO) market.
Offshoring assignments for the pharma sector began with legal transcription, coding, indexing, document review. Over the years complexity and value of legal work outsourced to India has been increasing. Currently, Indian service providers are offering high end services like legal research, intellectual property and litigation services including IPR (intellectual property right) litigation.
Pharmaceutical domain is expected to face increased cost pressure and global pharma multinational companies are likely to offshore assignments more across the value chain. This ensures promising future for the pharmaco-legal domain, said Mandilwar.
Currently due to global economic slowdown and recession, companies across the globe are looking to cut costs and offshore their legal activities to low cost destinations like India. Some of the Indian vendors in the legal outsourcing space have seen an increase in their revenues.
Despite the cost advantage for India and the interest indicated by the global pharma companies to offshore jobs from here, yet legal offshoring is yet to mature. This is because there is only small presence of large market players. It is also observed that the operations are of small scale for many companies. There is also a lack of conviction about data confidentiality and ability to handle higher complexity work, which are some of the other challenges in the pharma-legal off-shoring in the country, informed Mandilwar.
An increasing number of global pharma companies are keen to increase the legal off-shoring business with India because of the huge cost advantage. When legal offshoring is out-sourced from India, global majors save up to 40-50 per cent.
The growth in the sector is primarily attributed to the similarity in the legal system with US and UK. There is huge availability of qualified personnel which includes graduates, engineers, 79,000 lawyers and 5,000 PhDs. Companies can save up to 40-50 per cent of the costs by getting the processes done in India vis-Ã -vis a high cost locations.
Organized Indian Vendors in the legal space have existed since '80s and have now gained lot of process maturity. The government of India has also given considerable thrust to legal off-shoring, Rishikesh Mandilwar, Director- Market Expansion, Zinnov Management Consulting Private Limited told Pharmabiz.
The legal offshoring sector in the country is estimated at $600 million. Currently, a large percentage of business from US and EU are being offloaded to India.
India is extremely cost competitive and global pharma companies are capitalizing on the low cost advantage of process efficiencies, he added.
Some of the notable service providers in India engaged in the pharma legal offshoring space includes Evalueserve, Nishith Desai, T & T Consultants, Remfry & Sagar and SciTech Patent Art. Emerging countries like China, South Africa and Mexico are competing with India for a share of the Legal Processing Outsourcing (LPO) market.
Offshoring assignments for the pharma sector began with legal transcription, coding, indexing, document review. Over the years complexity and value of legal work outsourced to India has been increasing. Currently, Indian service providers are offering high end services like legal research, intellectual property and litigation services including IPR (intellectual property right) litigation.
Pharmaceutical domain is expected to face increased cost pressure and global pharma multinational companies are likely to offshore assignments more across the value chain. This ensures promising future for the pharmaco-legal domain, said Mandilwar.
Currently due to global economic slowdown and recession, companies across the globe are looking to cut costs and offshore their legal activities to low cost destinations like India. Some of the Indian vendors in the legal outsourcing space have seen an increase in their revenues.
Despite the cost advantage for India and the interest indicated by the global pharma companies to offshore jobs from here, yet legal offshoring is yet to mature. This is because there is only small presence of large market players. It is also observed that the operations are of small scale for many companies. There is also a lack of conviction about data confidentiality and ability to handle higher complexity work, which are some of the other challenges in the pharma-legal off-shoring in the country, informed Mandilwar.
Monday, January 12, 2009
GOVT ACTION ON PHARMA FIRMS FOR BRIBING DOCS
In TIMES OF INDIA on 5th Jan,2009 given that, the department of pharmaceuticals has indeed taken note of the dubious practices reported by TOI on Dec 15, but in a surprisingly mild, almost apologetic tone. Joint Secretary wrote to various drug manufacturer associations on Dec 18 citing the TOI report, but the letter suggests he would be "greateful" if the associations acted on suggestions made by the department. The secretary had earlier hald a meeting of various pharma associations in Mumbai in which he made several suggestions to the industry. The letter admits:"the allegations cannot be in any way treated as ethical and something that could be endorsed by society in general. This also puts the pharma industry in a bad light since the enhanced promotional expenditure of pharmaceutical companies result in enhanced market price of drugs, which has to be borne by the consumer." Both the Organisations of Pharmaceutical Associations of India (OPPI) and the Indian Drug Manufacturers Association (IDMA) had released their own codes of conduct at the beginning of 2007. However, there is no single code applicable to all drug manufacturers, a fact that the letter points out. But again, this is followed up by a gentle nudge. The OPPI and IDMA codes also have detailed procedures for filing of complaints and these associations cliam that they take action against companies found to indulge in unethical marketing practices. However, the government has sought not details of complaints received by them or of what action was taken on these complaints.
DRL ADVANTAGE OVER RANBAXY ON IMITREX
The delay in Ranbaxy Laboratories getting approval from FDA for launching migrain and headache drug of GSK's Imitrex could turn out to be a gain for Dr.Reddy's Laboratories, which has already launched the drug in the US. Dr.Reddy's could end up gaining a major chunk of the estimated 80 million dollars sales from the drug by Ranbaxy in the first year of launch in the US. Dr.Reddy's launched the generic version of Imitrex last november. Ranbaxy has not got approval from USFDA for launching generic version of Imitrex after it came under the scanner of health regulator, which last year banned 30 of its generic drugs produced by Dewas and Poanta Sahib units. Dr.Reddy's laboratories launched the same in November last year after settling patent litigation with GSK thus becoming the first company to launch an authorised generic version of the drug.
COMPANIES CUT OUT GOODIES FOR DOCTORS
Pharmaceutical industry has agreed to a voluntary moratorium on branded goodeis-Viagra pens, Zoloft soap dispensers, Lipitor- that were meant to foster good will & encourage doctors to prescribe more of drugs. No longer will Merck furnish doctor with purplish adhesive bandages advange Gardasil a vaccine against human Papillomavirus.
DR.REDDY'S PRODUCTS FOR ALLEGEMEINE INSURANCE COMPANY
DR.REDDYS LABORATORIES has won the bid for marketing of its products from Allegemeine Ortskrankenkasse (AOK) tender. The insurance company called bids to buy 44 Active Pharmaceutical ingrediants out of 66 products, woth $ 3.5 billions. Dr.Reddy's subsidiary Betapharm won this bid for 7 products. Allegemeine Ortskrankenkasse provides insurance cover to about 24 million publicly insured Germans. The 64 products, which are on bid, represented sales of $ 2.98 billions in 2007. Dr.Reddy's contract with Salutas will be ended, which had problems on that contract, which was the supplier of most products.
Sunday, January 11, 2009
DABUR HOLD BACK RETAIL EXPANSION PLANS
Dabur India has decided to freeze the expansion plan of its newly launched retail arm with an aim of capitalising more from further downside in retail rentals that the company is expecting. The company earlier looking at having 12 to 15 stores by the end of the year 2008-09, it has now temporarily halted the ramp up for 3 to 4 months and hopes that retail rentals would fall further.
RANBAXY GETS USFDA APPROVAL FOR GLIADEL
Ranbaxy Laboratories Limited announced that the company had received USFDA approval for marketing of Gliadel (polifepro 20 with Carmustine implant) Wafer for treatment of highly malignant gliomas & recurrent glioblastoma multiforme. Ranbaxy laboratories limited has signed license agreemetn withBioPro Pharmaceutical Inc, to promote and market Gliadel Wafers in India.
Thursday, December 25, 2008
HP emerging as pharmaceutical hub of India: Dhumal
Shimla, Dec 24: Himachal Pradesh is emerging as a manufacturing hub for pharma products and is likely to produce about three-fourth of the country's total requirement, Chief Minister Prem Kumar Dhumal said today.
There was hardly any renowned multinational pharma company which had not opted to manufacture medicines in Himachal Pradesh, Dhumal said, while presiding over 35th meeting of the state-level single window clearance and monitoring authority here.
The CM said the state expects to be in a position to manufacture about 70 per cent of the total medicines of the country in coming few years.
He said the investment in the hill state had been attracted by the special industrial package provided by former Prime Minister Atal Bihari Vajpayee in 2003.
The state has succeeded in attracting investment worth Rs 35,667 crore and create employment potential for about 4,08,000 youths through 11,404 new industrial units and 321 expansion projects so far, he added.
There was hardly any renowned multinational pharma company which had not opted to manufacture medicines in Himachal Pradesh, Dhumal said, while presiding over 35th meeting of the state-level single window clearance and monitoring authority here.
The CM said the state expects to be in a position to manufacture about 70 per cent of the total medicines of the country in coming few years.
He said the investment in the hill state had been attracted by the special industrial package provided by former Prime Minister Atal Bihari Vajpayee in 2003.
The state has succeeded in attracting investment worth Rs 35,667 crore and create employment potential for about 4,08,000 youths through 11,404 new industrial units and 321 expansion projects so far, he added.
Thursday, December 18, 2008
Five Indians among 40 influential Pharma faces
New Delhi: London-based SPG Media, publishers of the annual "World Pharmaceutical Frontiers" survey, has included five Indians among the top 40 influential people in the global pharmaceutical industry in 2008.
These include former drugs controller M. Venkateshwarlu, Ranbaxy CMD Malvinder Mohan Singh, Ranjit Shahani, India chief of Swiss pharma major Novartis AG, Ramaprasad Reddy, chairman Aurobindo Pharma and Rajesh Jain, joint managing director, Panacea Biotec.
The survey, which focused on "innovation" rather than "business volume", selected Mario R Capecchi, Oliver Smithie and Martin J Evans, joint winners of the 2007 Nobel Prize in Physiology or Medicine as the most influential people.
Arthur Levinson, Chairman and CEO Genetech, Bill and Melinda Gates, co-directors of Bill and Melinda Gates Foundation, Margaret Chan, director general WHO, Michael Rawlins, chairman, NICE, Andrew Witty, incoming CEO, GlaxoSmithKline, Bill Clinton, founder Clinton Foundation were among the people figured among the top 10.
Venkateshwarlu is in the 16th position, followed by Malvinder Singh at the 21 slot. Ranjit Shahani was ranked 24, up by 14 places from 38 last year. Both Ramaprasad Reddy and Rajesh Jain, at 35th and 40th positions respectively, have made the list for the first time.
"Last year, our list was dominated by business and big spenders. This year, however, there has been a shift of power, with no sign of any ‘big pharma' in the top ten. The exception is the incoming CEO of GlaxoSmithKline Andrew Witty, who has been a driving force within the organisation for years," Andrew Tunnicliffe, editor World Pharmaceutical Frontiers stated.
Other inclusions show how regulatory and governing bodies have made an impact. Michael Rawlins, NICE chairman, made it to the top five, demonstrating how the power base has shifted from pharma to those who monitor them.
The reason for this refocus from finances to innovation is, in part, the result of a tightening marketplace, fiercer competition and the opening up of the increasingly dynamic emerging economies of India and China", Andrew Tunnicliffe, editor World Pharmaceutical Frontiers stated.
In addition to Tunnicliffe, the selection panel included Agnes S. Klein, director of the Centre for Evaluation of Radiopharmaceuticals and Biotherapeutic Products in Biologics and Genetic Therapies Directorate, Clive Savage, director of Corporate Communication, IMS Health, Michael A Santoro, associate professor, Rutgers Business School, Newark, US, and Andrew Jack, pharmaceutical correspondent with Financial Times, London.
This is the second survey conducted by SPG media.
Source: Business Standard
These include former drugs controller M. Venkateshwarlu, Ranbaxy CMD Malvinder Mohan Singh, Ranjit Shahani, India chief of Swiss pharma major Novartis AG, Ramaprasad Reddy, chairman Aurobindo Pharma and Rajesh Jain, joint managing director, Panacea Biotec.
The survey, which focused on "innovation" rather than "business volume", selected Mario R Capecchi, Oliver Smithie and Martin J Evans, joint winners of the 2007 Nobel Prize in Physiology or Medicine as the most influential people.
Arthur Levinson, Chairman and CEO Genetech, Bill and Melinda Gates, co-directors of Bill and Melinda Gates Foundation, Margaret Chan, director general WHO, Michael Rawlins, chairman, NICE, Andrew Witty, incoming CEO, GlaxoSmithKline, Bill Clinton, founder Clinton Foundation were among the people figured among the top 10.
Venkateshwarlu is in the 16th position, followed by Malvinder Singh at the 21 slot. Ranjit Shahani was ranked 24, up by 14 places from 38 last year. Both Ramaprasad Reddy and Rajesh Jain, at 35th and 40th positions respectively, have made the list for the first time.
"Last year, our list was dominated by business and big spenders. This year, however, there has been a shift of power, with no sign of any ‘big pharma' in the top ten. The exception is the incoming CEO of GlaxoSmithKline Andrew Witty, who has been a driving force within the organisation for years," Andrew Tunnicliffe, editor World Pharmaceutical Frontiers stated.
Other inclusions show how regulatory and governing bodies have made an impact. Michael Rawlins, NICE chairman, made it to the top five, demonstrating how the power base has shifted from pharma to those who monitor them.
The reason for this refocus from finances to innovation is, in part, the result of a tightening marketplace, fiercer competition and the opening up of the increasingly dynamic emerging economies of India and China", Andrew Tunnicliffe, editor World Pharmaceutical Frontiers stated.
In addition to Tunnicliffe, the selection panel included Agnes S. Klein, director of the Centre for Evaluation of Radiopharmaceuticals and Biotherapeutic Products in Biologics and Genetic Therapies Directorate, Clive Savage, director of Corporate Communication, IMS Health, Michael A Santoro, associate professor, Rutgers Business School, Newark, US, and Andrew Jack, pharmaceutical correspondent with Financial Times, London.
This is the second survey conducted by SPG media.
Source: Business Standard
KAMAL NATH ADDRESSES INTERNATIONAL CONFERENCE ON PHARMA
INDIAN PHARMA COMPANIES FULLY EQUIPPED FOR NEW PATENT REGIME, SAYS KAMAL NATH ADDRESSES INTERNATIONAL CONFERENCE ON PHARMA
Date : 01 Feb 2005
Location : New Delhi
Shri Kamal Nath, Union Minister of Commerce & Industry, has said that the Indian pharmaceutical companies are poised and fully equipped to take advantage of the US $ 50 billion worth of drugs going off patent in the next five years after introduction of the new patent regime. "We’ll grab a major share of this", he said in his address at an international conference organised by the Royal Institute of International Affairs at Chatham House, London, last evening. The theme of the Conference was the pharmaceutical industry in the 21st century and whether India is challenging the conventional R&D business model.
Shri Kamal Nath told the large gathering that India presented an ideal confluence of five factors viz., (1) cost-effective manufacturing; (2) well-developed chemical industry infrastructure; (3) strong vertical integration (from bulk to formulations to packing); (4) abundant scientific talent & technical skills; and (5) unique synergy in fields of IT, biotech & medicine. "Time is, therefore, ripe for a quantum leap. Our objective is not only to manufacture drugs, but also to make India a hub for medical research and clinical data management", the Minister said.
The pharma industry in India is a $ 10 billion industry. India has 300 pharma companies of large and moderate size and another 10,000 small and tiny firms. But 70% of the production is by the top 100 larger companies. The industry manufactures about 400 bulk drugs and almost the entire range of formulations. About a third of India’s production – close to US $ 3.5 billion – is exported and exports are growing at 25% per annum. Half a billion dollars worth of exports are to the US alone, while Germany, Russia, the UK, Canada, Italy and Japan are among others. Large quantities of medicines are also exported from India to China, Brazil, Nigeria and Mexico, Shri Kamal Nath informed the large audience. But he also pointed out that: "While the statistics do reveal that India has a huge drug industry (8% of the world’s drugs are manufactured in India) – it also becomes apparent that the financial realisations are not commensurate with the size. This means that while we are getting paid for the actual stuff, there is no financial realisation for the ‘intellectual property’ value behind the formulations – and in the drug industry it is this intellectual property value that constitutes the huge margins".
"In the 21st century, the pharmaceutical value chain would depend on the ability of pharmaceutical companies to make the technological shift necessary to maintain their competitive positions. India provides not just the possibility – but the unique & tangible opportunity for international pharma firms to make that desired ‘technological shift’ – in process, and (more literally) in location! The question before Pharma Company CEOs the world over today is not: ‘Should my company go to India?’ but ‘Can my company afford not to go to India’?", Shri Kamal Nath said.
Date : 01 Feb 2005
Location : New Delhi
Shri Kamal Nath, Union Minister of Commerce & Industry, has said that the Indian pharmaceutical companies are poised and fully equipped to take advantage of the US $ 50 billion worth of drugs going off patent in the next five years after introduction of the new patent regime. "We’ll grab a major share of this", he said in his address at an international conference organised by the Royal Institute of International Affairs at Chatham House, London, last evening. The theme of the Conference was the pharmaceutical industry in the 21st century and whether India is challenging the conventional R&D business model.
Shri Kamal Nath told the large gathering that India presented an ideal confluence of five factors viz., (1) cost-effective manufacturing; (2) well-developed chemical industry infrastructure; (3) strong vertical integration (from bulk to formulations to packing); (4) abundant scientific talent & technical skills; and (5) unique synergy in fields of IT, biotech & medicine. "Time is, therefore, ripe for a quantum leap. Our objective is not only to manufacture drugs, but also to make India a hub for medical research and clinical data management", the Minister said.
The pharma industry in India is a $ 10 billion industry. India has 300 pharma companies of large and moderate size and another 10,000 small and tiny firms. But 70% of the production is by the top 100 larger companies. The industry manufactures about 400 bulk drugs and almost the entire range of formulations. About a third of India’s production – close to US $ 3.5 billion – is exported and exports are growing at 25% per annum. Half a billion dollars worth of exports are to the US alone, while Germany, Russia, the UK, Canada, Italy and Japan are among others. Large quantities of medicines are also exported from India to China, Brazil, Nigeria and Mexico, Shri Kamal Nath informed the large audience. But he also pointed out that: "While the statistics do reveal that India has a huge drug industry (8% of the world’s drugs are manufactured in India) – it also becomes apparent that the financial realisations are not commensurate with the size. This means that while we are getting paid for the actual stuff, there is no financial realisation for the ‘intellectual property’ value behind the formulations – and in the drug industry it is this intellectual property value that constitutes the huge margins".
"In the 21st century, the pharmaceutical value chain would depend on the ability of pharmaceutical companies to make the technological shift necessary to maintain their competitive positions. India provides not just the possibility – but the unique & tangible opportunity for international pharma firms to make that desired ‘technological shift’ – in process, and (more literally) in location! The question before Pharma Company CEOs the world over today is not: ‘Should my company go to India?’ but ‘Can my company afford not to go to India’?", Shri Kamal Nath said.
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