Pharmaceutical Newsletter - April 11 to 15, 2016

India Infoline News Service | Mumbai | April 13, 2016 17:43 IST

Ahead of the corporate earning season in India, pharmaceutical sector did not witness major events during the week. Barring an USFDA nod to Sun Pharma and Cadila Healthcare receiving 3 observations for Ahmedabad facility, no major development took place. Dr. Reddy’s Laboratories created a buzz with its open offer for share buyback will start on April 18. Meanwhile, the Chennai-based Orchid Pharma received the Establishment inspection report (EIR) from USFDA based on the successful inspection closure for the API manufacturing facility located at Alathur, Kancheepuram District, India.

Top News
 
Pharmaceutical: Mixed bag – some blockbusters in store
Pharma sector is likely to report a mixed bag quarter as strong showing by Sun (Gleevec opportunity) and Cipla (partial Invagen consolidation + Pulmicort) would be offset by qoq margin weakness in Cadila, Glenmark and Torrent Pharma. Retain Glenmark, Aurobindo and Strides as top picks. Read more

Cadila Healthcare: US FDA issues 3 observations on Ahmedabad facility
Cadila Healthcare is marginally down at  Rs.315. The US Food and Drug Administration (FDA) has issued three observations on its Ahmedabad facility. Read more

Sun Pharma receives USFDA approval for BromSite
Sun Pharmaceutical Industries Ltd and includes its subsidiaries or associate companies)  announced that one of its wholly owned subsidiaries has received approval from USFDA for its New Drug Application (NDA) related to BromSite (bromfenac ophthalmic solution) 0.075% for the treatment of postoperative inflammation and prevention of ocular pain in patients undergoing cataract surgery. BromSite is the first non-steroidal anti-inflammatory drug (NSAID) approved by the USFDA to prevent pain and treat inflammation in the eye for patients undergoing cataract surgery; other NSAIDs in this class are currently indicated for the treatment of inflammation and reduction of pain. Read more

News in Focus
 
Dr Reddy’s buyback offer to start on April 18
Dr Reddy’s Laboratories announced that its offer for share buyback will open on April 18. Dr Reddy’s Lab made a public announcement of its proposed buyback offer at a maximum price of Rs. 3,500 per equity share, representing 14% premium to today’s opening share price of Rs. 3,079. Read more

 
 
Domestic News
 
Lupin to Market new Inhaler under brand name Loftair in India
Pharma Major Lupin Limited (Lupin) and Novartis Healthcare Private Limited (NHPL) have entered into a co-marketing agreement to promote Novartis’s Indacaterol / Glycopyrronium 110mcg/50mcg inhaler, a treatment for chronic obstructive pulmonary disease (COPD) under the brand name of Loftair. Read more

Orchid Pharma receives EIR from US FDA for Kancheepuram facility
Orchid Pharma Ltd has announced that it has received the Establishment inspection report (EIR) from USFDA based on the successful inspection closure for the API manufacturing facility located at Alathur, Kancheepuram District, India. The facility was inspected by USFDA in the month of August 2015. Read more

Cipla completes allocation of shares to FIL Capital Investments
Cipla Ltd has now informed BSE that the board of directors of Cipla Health Limited, a subsidiary of the Company has allotted shares to FIL Capital Investments (Mauritius) II Limited and consequently, the transaction has now been completed. Read more

Lyka Labs launches two domestic marketing divisions
Lyka Labs Ltd has announced that Lyka Healthcare Limited, a wholly owned subsidiary of Lyka Labs Limited, has launched two domestic marketing divisions in the name of ENSPAN and CERABELLE. Enspan would be marketing Critical and Anesthesia range of Products and Cerabelle would be marketing Dermatology and Cosmetology range of Products. Read more

Narayana Hrudayalaya commences operation at new hospital in Kakryal, Katra
Narayana Hrudayalaya Ltd has announced that the Company has commenced operations at its newest hospital "Shri Mata Vaishno Devi Narayana Superspeciality Hospital" in Kakryal, Katra on April 08, 2016. Read more

Expansion! Dr Batra to open 20 clinics in FY17
As per its expansion plan earmarked for financial year 2016-17, Dr Batra’s Healthcare is planning to add around 20 new homeopathy clinics across India and abroad, reported PTI. Read more

Smoking makes your vision poorer shows research
With a surge in eye-related diseases in India, Ophthalmologist has said smoking is emerging as one of the major reasons behind vision-loss among patients. However, only 10-20 percent people are aware of it. Read more
 

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