New Delhi: In line with global trends in thepharmaceuticals sector, the focus of domestic drug firms on acquisitionsto consolidate their position will limit deleveraging for thetime being, rating agency Fitch has said. "The ongoing focus of the top Indian pharma companies' onselective acquisitions to limit deleveraging over the shortterm," Fitch said in '2017 Outlook: Indian Pharmaceuticals'. These acquisitions will help the companies to consolidate their positioning, with deleveraging likely only over the medium term as the acquired businesses contribute incremental earnings, it added. "Many firms (including Sun, Dr Reddy's, Lupin and Cipla) have actively pursued acquisitions...in order to augment their existing drug portfolios and solidify their presence in both existing and new geographies," Fitch said. It pointed out that domestic pharma market would continue to grow on account of higher consumer spending, urbanisation, improving access to medical facilities and health insurance, and the growing prevalence of lifestyle diseases. According to Fitch, the regulatory compliance remains the keyfor growth and it "expects pharma companies with a strongregulatory compliance track record to benefit from a fasterpace of Abbreviated New Drug Application (ANDA) approvalsunder GDUFA in the US market". "Drug approval by USFDA to Indian drug companies hasalmost doubled to over 200 in FY15-FY16 over the prior period,and Indian pharma companies now represent about 30 per cent(by volume) and 10 per cent (value) of the $70 billion -80 billion US generics market," Fitch said. Furthermore, the US drug regulator aims to implement the GDUFA IIframework from October 2017, which gives some guidance on afurther reduction in approval timeframes. "This will benefitIndian pharma companies in boosting their presence in the US,"it added.
FDEC-India has been established by Sun Pharma as part of its corporate social responsibility initiative.
Both US presidential candidates have argued in favour of allowing the US government's Medicare programme, which accounts for over 20 per cent of total US drug spend, to directly negotiate drug prices with manufacturers.
The product has been launched in four strengths 5mg20mg, 5mg40mg, 10mg20mg and 10mg40mg, Ajanta Pharma said.
With an aim to raise funds to expand its clinics business, Apollo Hospitals will dilute some stake in the vertical for Rs 450 crore this fiscal, a top company official said on Tuesday.
Reliance Securities said the Ebitda margins will continue to be under pressure on account of increased R&D spending and adverse product-mix.
Glenmark Pharmaceuticals has appointed Kurt Stoeckli as President and Chief Scientific Officer (CSO) of the company.
Drug firms Boehringer Ingelheim and Lupin have entered into a partnership to co-market Empagliflozin used for treatment of type 2 diabetes in India.
Cipla said it has received an establishment inspection report from the US Food and Drug Administration for its Indore plant after completion of inspection there.
As part of the integration of erstwhile Ranbaxy, it was decided to use Target Application as a single platform for DAR for the India field force, Sun Pharma said.
As part of the integration of erstwhile Ranbaxy, it was decided to use Target Application as a single platform for DAR for the India field force, Sun Pharma added.
The recall has been initiated by Sun Pharmaceutical Industries Inc for 31,762 bottles of bupropion hydrochloride extended-release tablets, USP (SR) in the strength of 150 mg, the US drug regulator said.
Dr Reddy's Laboratories said its product is a generic version of GSK Group of companies' Lamictal tablets.
With substantial investments of Rs 106 crore in R&D in 2015-16, use of latest platform technologies and developing niche and complex formulations, Ajanta Pharma is confident of reinforcing its exclusive positioning in the markets it operates in.
Currently, Dr Reddy's is the second largest generic oncology injectable company by value in the US and leading generic oncology firm in India.
The price range equates to a discount of between 3.1 per cent and 5.5 per cent of Wednesday closing price of Rs 856.85 ($12.83).
Cadila Healthcare said Grafalon offers a specific advantage of efficacy and better safety profile through targeted immunosuppression.
The tablets have been manufactured at the company's Goa facility. A single bottle contains 500 tablets of the medicine.