Strides Arcolab announces collaboration with Eli Lilly
Eli Lilly and Company and Strides Arcolab Limited today announced a collaboration to expand delivery of cancer medicines in the emerging markets.
As a part of this arrangement, Lilly will in-license a portfolio of high-quality, branded generic injectable and oral cancer medicines from Agila Specialties, the specialties division of Strides Arcolab, based in Bangalore, India.
Agila Specialties will manufacture the cancer medicines, and Lilly will register and market these medications in multiple geographies across the emerging markets. In addition to the initial 10 medicines included as part of the agreement, Lilly has the right to add additional high-quality branded generic oncology products to the portfolio in the future.
“Cancer medicines of the highest quality continue to be an unmet need in many markets around the world. Building on our recent investment in a Lilly-branded generics platform in China earlier this year, this agreement will help Lilly expand its portfolio and deliver high-quality cancer medicines to patients across emerging markets.” said Jacques Tapiero, Lilly Senior Vice President and President of its emerging markets division. Read more…
Fortis Healthcare strategic tie-up with Majid Al Futtaim Healthcare
Fortis Healthcare Limited (Fortis), a leader in the integrated Healthcare Delivery sector in Asia has taken a signifcant step to expand and leverage its primary and day care specialty vertical in Asia. The company has entered into a strategic tie-up with Majid Al Futtaim Healthcare, the healthcare arm of Majid Al Futtaim Ventures, to operate and manage its health care assets, starting with a Day Care Specialty Clinic located in Deira City Centre, one of Dubai’s largest shopping malls located in the heart of the city.
Majid Al Futtaim Healthcare is a new business vertical recently established by Majid Al Futtaim Ventures – the growth engine responsible for developing new and innovative enterprises across the region, to invest in healthcare assets. This agreement is the first towards a long-term association that Fortis and Majid Al Futtaim Healthcare have committed to, in bringing advanced healthcare to this region.
With the Day Care Specialty Clinic expected to open in the first half of 2013, the broader strategy is to expand the business regionally.The focus of the clinics will be towards preventive and curative care with Fortis bringing its more than two decades of expertise in specialty care from within its network to the region. Read more…
IIFL Institutional Equities recommends 'Buy' on Wockhardt
IIFL Institutional Equities, a part of the IIFL Group, one of the leading players in the Indian financial services space, recommends “Buy” Wockhardt.
According to IIFL Institutional Equities report, we believe that Wockhardt’s low-competition products in the US should continue to deliver until those in the pipeline are ready to take over. The domestic business should start delivering mid-teen growth and the European operations will no longer be a major drag on profitability.
Over the last two years, the company has paid back all of its FCCB liabilities, settled its forex derivative liabilities at a significant discount, and set the clear terms for repayment to domestic lenders. The period of crisis helped the company cut costs, focus on core operations, and emerge leaner and stronger.
Despite the recent run up, Wockhardt trades at 30-40% discount to its large-cap pharma peers; we expect sustained performance to reduce this discount gradually. We initiate coverage with BUY rating and target price of Rs2157, the brokerage added.
The report was published by IIFL’s Institutional Equities Research desk.
Top health concerns of aging can be helped by Soy Protein: Survey
Maintaining heart health and a healthy weight are among the top ranked concerns of active, aging consumers in India. A recent survey conducted by Solae shows that among adults aged 35-65, heart health and maintaining an active lifestyle are their top concerns, followed by having a strong immune system and maintaining a healthy weight.
While a variety of conditions can affect adults as they age, the three main causes of death are heart disease, cancer and stroke. Solae’s survey showed that 87 percent of adults in India were concerned about heart health and 84 percent listed weight maintenance as a top concern. Older consumers (50-65) and males were more likely to rate “healthy heart” as one of their top three concerns. Females were more likely to rate “maintaining a healthy weight” as one of their top three concerns. The survey also showed that the primary motivator for exercising is maintaining health rather than appearance.
“When you look at the listing of top ranking health concerns, it’s clear that soy protein can be a beneficial addition to the diet of someone in this age group”, said Ratna Mukherjea, PhD, nutrition group lead at Solae. “Protein can help preserve lean muscle mass and manage weight by promoting satiety.” Read more…
Dr Reddy’s launches PamorelinÒ LA in India
Dr. Reddy’s Laboratories Ltd.announced that it has launched PamorelinÒ LA in India on December 03, 2012, under an exclusive marketing and sales agreement with Debiopharm GroupTM, Switzerland. PamorelinÒ LA is used for the treatment of locally advanced or metastatic, hormone-dependent prostate cancer.
PamorelinÒ LA will be imported in bulk from Debio Recherche Pharmaceutique (Debio R.P.). It will be made available primarily to urologists and oncologists across India.
Gartner releases 2012 Healthcare Supply Chain Top 25
Gartner, Inc. has released the fourth annual Healthcare Supply Chain Top 25. The research focusses on the healthcare value chain's pursuit of high-quality patient care at optimal economic cost. The Top 25 for 2012 ranking identifies organizations leading the way in transforming their supply chains to meet the new value requirements in healthcare — patient outcomes and quality, and service and cost improvements.
"The Fourth Annual Healthcare Supply Chain Top 25 ranking features organizations in the midst of transformations that will fundamentally alter the business practices of the past," said Barry Blake, senior research analyst at Gartner. "Now that the U.S. 2012 election cycle is over, organizations have greater clarity on one important element responsible for this uncertainty — the U.S. healthcare reform landscape. All segments of this value chain understand that reform is now moving to implementation, and the good news is that most organizations on our ranking anticipated and prepared for an era of accountability in healthcare." Read more…
Venus Remedies gets Phase III NOD for cancer detection NCE
Venus Remedies Limited, an Indian multinational research based progressive pharma company announced that it has received approval from Drugs Controller General, India (DCGI) to conduct Phase-III Clinical Trials of its cancer detection NCE (New Chemical Entity). After thorough screening by IND committee for the investigational New Chemical Entity VRP1620, DCGI has found Clinical Phase-I and Phase II data satisfactory and thus granted permission to conduct Phase-III Clinical Trials on the molecule. The molecule is for early cancer detection and this leap towards successful Phase III will make Venus pioneers among the companies working and providing innovative solution for cancer detection.
Dr Manu Chaudhary, Director Research, Venus Medicine Research Centre (VMRC) said, “This NCE is based on selective tumor targeting because tumor-infiltrating blood vessels deviate morphologically and biochemically from normal vessels. VRP1620 specifically increases tumor blood flow and this property has been utilized to promote delivery of cancer detection contrast media to the site of tumors via blood stream.'' It is a targeted delivery of diagnostic agent which enhances image quality to several 100 times, thus making it clearly differentiated. She further added that we can also differentiate between benign and malignant tumor because of its property to enhance image quality and very small sized tumors can also be traced. As of now, there is no such technology for early detection of small sized solid tumor available in the market across the globe and secondly, VRP1620 will help us in staging of tumors. Our technology omits false negatives. Read more…
AS&E wins 2012 GSN Homeland Security Award
American Science and Engineering, Inc. (“AS&E”) a leading worldwide supplier of innovative X-ray detection solutions, announced today that the Company’s Z Backscatter Van (ZBV)product line has been selected as the “Best Explosives Detection Solution” by GSN: Government Security News magazine at the 2012 Homeland Security Awards. AS&E received this honor at a gala awards dinner in Washington, D.C. among distinguished federal, state, county and municipal government officials.
The GSN award recognizes AS&E’s ZBV system, the world’s number one selling cargo and vehicle inspection system with proven results for explosive, threat, and contraband detection. Customers around the world rely on its mobility, effectiveness and flexibility to address constantly evolving security needs, including U.S. Customs and Border Protection and U.S. Department of Defense for homeland security and force protection applications to detect VBIEDs, drugs, stowaways, and other contraband in war zones, military bases, and on U.S. ports and borders.
“Our ZBV system is recognized worldwide as a critical tool to combat the world’s toughest security issues, and we are pleased to have GSN acknowledge our success,” said Anthony Fabiano, AS&E’s President and CEO. “The ZBV system has helped save lives and deterred terrorist and criminal activities. Customers in 55 countries rely on the ZBV’s ability to quickly and effectively respond to threats and increase the efficiency and accuracy of their security missions.” Read more…
Omidyar Network and TiE Delhi–NCR organizes first affordable healthcare summit
Omidyar Network and Tie Delhi-NCR hosted the first Affordable Healthcare Summit to highlight and advance the immediate need for affordable healthcare products and services for the underserved population in India.
Eminent personalities from the industry including Nachiket Mor (SughaVazhvu), Ajay Pitre (Sushrut Surgicals), Sangita Reddy (Apollo Hospitals), Asif Saleh (BRAC) and Sheena Chhabra (USAID) convened to define objectives and frame solutions to the challenges of healthcare reform, cost, quality and accessibility. Healthcare professionals, medical experts, industry leaders and key influencers from the government and the sector were present to discuss and debate the gravity of the situation.
In his opening address, Jayant Sinha from Omidyar Network welcomed the attendees and provided an overview of the current state of healthcare services in India. Keynote speaker Arun Maira, Member, Planning Commission put forward key learnings from the success of government led initiatives and also stressed on favourable policies and reforms in the healthcare sector.
Jasjit Mangat, Director Investments, Omidyar Network said, “ The Affordable Healthcare Summit brings together all the interlinked elements of the healthcare ecosystem and aims to develop a road map for all these different players. This summit addresses an underserved opportunity by creating a vibrant dialogue between the key players in the sector, the government and the audience.” Read more…
Fewer neurologists attend to growing number of patients with neurological disorders
With an increasing population falling prey to it, degenerative diseases, mostly neurological, stands as one of the biggest health threats in India. Experts in the city have stressed on the need for more neurologists in India to attend to the increasing needs of patients suffering from neurological disorders such as multiple sclerosis, epilepsy, Alzheimer’s and dementia.
One of the premier medical journals in the country, ‘Journal of Association of Physicians of India’ (JAPI) stated earlier this year that there are only approximately 1,100 qualified clinical neurologists working in India.
Doctors say that frequent screening with the use of technology such as CT scan and MRI scans is making it possible to detect and diagnose these conditions early.
“There has been a steady increase in the number of neurological diseases such as Multiple Sclerosis in recent times. The numbers are rising apparently due to increased awareness or increased availability of imaging facilities such as MRI scans,” said Dr Arun Shah, consultant, neurologist, Breach Candy Hospital, Mumbai. Read more…
US Healthcare industry navigating dynamic market in 2013: Fitch
Fitch Ratings forecasts low single-digit growth for most companies in the U.S. healthcare sector in 2013, despite a dynamic operating environment.
Fitch's overall credit outlook for the U.S. healthcare 2013 is stable. This encompasses issuers in the branded and generic pharmaceutical manufacturer, diagnostic and life science, healthcare provider, medical device, and healthcare services segments of the U.S. healthcare industry.
Factors supporting growth generally across the industry include the aging population and higher rates of chronic disease, growing demand in emerging markets and new product launches. These positive trends are tempered by weaker economic conditions in developed markets and the U.S. fiscal cliff, which could result in lower payments to the industry.
There will be significantly better visibility on the effects of the Affordable Care Act by mid-2013. While Fitch views the ACA as a positive driver on the industry's operating outlook in 2014, the magnitude of its effect will depend on many current unknowns. Read more…
Baxter enhances renal therapies portfolio with acquisition of GAMBRO
Baxter International Inc. has entered into a definitive agreement to acquire Gambro AB, a privately held dialysis product company based in Lund, Sweden, for total consideration of 26.5bn SEK (approximately $4.0bn USD at current exchange rates). Gambro is a global medical technology company focused on developing, manufacturing and supplying dialysis products and therapies for patients with acute or chronic kidney disease. The acquisition gives Baxter a comprehensive dialysis product portfolio, complements Baxter’s global home dialysis offerings, and positions the company to better meet the evolving needs of the large and growing dialysis market.
“Baxter has a legacy of innovation in dialysis, including the development of peritoneal dialysis for the treatment of end-stage kidney disease patients in the home. This acquisition further strengthens our global dialysis offerings by extending our portfolio in the hemodialysis segment,” said Robert L. Parkinson, Jr., chairman and chief executive officer of Baxter. “This transaction will provide attractive returns and enhance Baxter’s sales and earnings growth over the company’s current long-range financial plan.” Read more…
Mattel announces creation of Joseph A. Cristina HIV/AIDS Children’s Fund
In honor of World AIDS Day, Dec. 1, 2013, Mattel Inc. and the Mattel Children’s Foundation today announced the creation of the Joseph A. Cristina HIV/AIDS Children’s Fund, with the purpose of making a difference in the lives of children affected by HIV/AIDS in the U.S. by helping to meet their diverse needs, educating and advocating on their behalf, and bringing joy and fun into their lives. The fund, which will be exclusively endowed by the Mattel Children’s Foundation and managed by the California Community Foundation, will grant funds to non-profit organizations which support the needs of children affected by HIV/AIDS in the U.S.
More than 15 years ago, former Mattel executive Joe Cristina turned the personal tragedy of an HIV-positive diagnosis into an opportunity to make a difference by founding the Children Affected by AIDS Foundation (CAAF). Through his vision and leadership, CAAF raised $40 million since its inception dedicated to impacting children affected by HIV/AIDS through support of nonprofit organizations providing social, educational, recreational and other programs addressing the critical needs of these children. To hear Joe tell his story, click the following link: http://bit.ly/Skxcy1.
Mattel, the Mattel Children’s Foundation and Mattel employees have been there every step of the way with continued and multi-faceted support. In June 2012, CAAF joined forces with fellow nonprofit Keep a Child Alive (KCA) in order to better serve children affected by HIV/AIDS in regions of the world where the greatest need exists. Read more…