Cabinet approves 100% FDI in medical devices
The Union Cabinet chaired by the Prime Minister Narendra Modi gave its approval to amend the existing Foreign Direct Investment (FDI) policy in the Pharmaceutical Sector to create carve out for medical devices. As per the extant FDI policy for pharmaceuticals sector, FDI up to 100% is permitted subject to specified conditions.
While FDI for green-field projects is under automatic route, brown-field projects are placed under government route. The Policy on the pharmaceutical sector covers 'medical devices' since this area is not separately covered. As per National Industrial Classification (NIC) Code 2008, sector code of Manufacture of pharmaceuticals, medicinal chemical, and botanical products is 2100 while sector code of Manufacture of medical and dental instruments and supplies is 3250. Medical devices will fall under the category of `medical and dental instruments and supplies. Therefore, drugs and pharmaceuticals and medical devices are two different industrial activities.
Cipla Medpro wins R2 billion of State Arv Tender
Cipla Medpro announced that it has been awarded R2 billion share of the South African Government’s 2015-17 National ARV tender. The contract is effective from the 1st of April 2015 and will run for a period of three years. CEO of Cipla Medpro, Paul Miller, says that Cipla is proud to have been recognised once again as a preferred partner of the State in the national fight against HIV and Aids. “Cipla is known as a pioneer of fixed dose combinations following Cipla’s Dr Yusuf Hamied’s accomplishment of making Aids medication available for a dollar a day in 2001.” Cipla also went further and made this triple combination available in the world’s first 3-in-1 combination ARV.
India can use traditional systems to device a holistic approach to medicine: Shripad Naik
Hon’ble Minister of State for Health & Family Welfare Shripad Yesso Naik urged Indian healthcare industry and service providers to work towards newer initiatives and innovative ideas to help government’s endeavor to make affordable healthcare available to all, at the first India Health & Wellness Summit, 2014.
The first edition of the Hero Cycles India Health & Wellness Summit, 2014, being presented by Healthydunia.com, powered by Yes Bank opened with some of the leading names in the Indian healthcare sector coming together to discuss concerns, devise solutions and award excellence in the field of healthcare.
We will be focusing on growing both the India and Middle East business: S. Subramanian
Kaya Skin Clinics across 26 cities in India (added 2 clinics in India in Q2) and have 4 Kaya Skin Bars (new product-retail format for the brand which has over 50 SKUs of advanced Kaya products ranging from daily skin and hair care to specialized products). The company are looking at adding 10-12 clinics annually and have plans of adding 15-20 Kaya Skin Bars per year in India.
It also looking at expanding our Middle East Business. Currently, the company has 18 clinics in 4 countries in the Middle East and will be looking at adding at least 2-3 clinics per year. MaKE limited posted Revenue from Operations of Rs. 84 crores for the quarter ended 30th September 2014, growth of over 15% over corresponding quarter ended 30th September 2013 on a consolidated basis. aggressively focusing on strengthening our business in both of these geographies. Kaya is looking at products’ journey at Kaya with the help of expansion of Kaya Skin Bars which will be scaled up across key markets. Our plans are in place and hopefully we will be able to maintain the same growth momentum going forward. Currently, the SSG of India business stands at 10% and we look forward to improving this further in this future.
Cipla among winners in $860 mn South Africa AIDS drug tender
According to the report, South Africa’s national health department awarded $860 million tender to four pharmaceutical firms to supply AIDS treatment drugs.
Cipla among winners in $860 mn South Africa AIDS drug tender
According to the report, South Africa’s national health department awarded $860 million tender to four pharmaceutical firms to supply AIDS treatment drugs. Report said, Aspen Pharmacare was awarded a 2.5 bn rand contract, Cipla, a 2 billion rand deal, while Mylan won a 2.8 billion rand share and unlisted local firm Sonke got a 3 billion rand stake in the tender.
Dr. Manmohan Singh Inaugurated 10th Indian Science Congress at Jammu
Dr. Manmohan Singh, the then Prime Minister inaugurated 101th Indian Science Congress on 3rd February 2014 in Jammu. Speaking on the ocaasion he said India needs to leverage the ability of modern science to deliver value to society and our basic research must be directed to make new discoveries with innovative efforts to develop affordable solutions suited to Indian condition. He also emphasized that our science should be a driving force propelling India as a resurgent civilization which holds out both hope and opportunity for our young citizens.
Novartis clarifies on CCI approval for GSK Pharma Deal
Novartis India Ltd replied stating "Novartis AG and GSK plc have agreed to create a consumer healthcare business through a global joint venture between the OTC division of Novartis and the consumer healthcare division of GSK. The global transaction is subject to various closing conditions including obtaining anti-trust approvals. Novartis India Limited had informed BSE Limited of this by its disclosure dated 22 May 2014.
Accordingly, both Novartis AG and GSK plc had sought the approval of the Competition Commission of India for the global consumer healthcare joint venture between Novartis and GSK along with approval for the divestment of Novartis' Vaccines business to GSK and the acquisition by Novartis of GSK's Oncology business. Please note that only the OTC division is housed within Novartis India Limited. The Commission approved the transactions mentioned above by way of its order published on 23 December 2014.
Dr Reddy's, IPCA facilities under scanner of Health Canada
According to reports. Indian drug makers have come under the radar of Health Canada, the medical regulator of Canada. In a report issued, Health Canada said that the importers have decided to stop the importation and distribution of products manufactured by Dr Reddy's Labs and IPCA Labs at Srikakulam and Pithampur facilities respectively, says report. There are reports that regulator has not asked Indian companies to recall drugs from the market. Canadian importers have agreed to quarantine health products from the two India-based sites at Health Canada's request, says report.
AstraZeneca clarifies reports on patent case against Aurobindo Pharma
The Exchange had sought clarification from AstraZeneca Pharma India Ltd with respect to news article appearing in The Financial Express on December 24, 2014 titled "AstraZeneca files patent case against Aurobindo Pharma". AstraZeneca Pharma India Ltd clarified, "We may state that the said news referred to in your mail does not pertain to AstraZeneca Pharma India Limited. Rather, it comes under a separate legal entity established under the laws outside India."
Fulford India divests its consumer care products business to Bayer Pharma
Fulford India Ltd has informed BSE that Bayer AG has globally acquired the consumer care business from Merck & Co. (Global Transaction”). As part of the Global Transaction the consumer care products viz. Alaspan, Polaramine, Tinaderm (“Consumer Care Products”) (including the trademarks) which were marketed by Fulford (India) Limited have been transferred to Bayer Pharmaceuticals Private Limited (“Bayer”). Bayer will completely take over the marketing and distribution of the Consumer Care Products with effect from January 01, 2015.
Jubilant Life Science completes Cadista tender offer
Jubilant Life Sciences Limited (Jubilant Life Sciences) announced today that its indirect wholly-owned subsidiary, Jubilant Generics Inc. (“Jubilant Generics”), has successfully completed its previously announced Tender Offer for all of the outstanding shares of Cadista Holdings Inc. (Cadista Holdings) common stock not owned by Jubilant Generics or its affiliates.
Based upon information provided by the depositary for the Tender Offer, as of the expiration of the Tender Offer, a total of 17,018,378 shares were validly tendered and not withdrawn in the Tender Offer, representing approximately 82% of Cadista Holdings’ currently outstanding shares not already owned by Jubilant Generics and its affiliates. Jubilant Generics has accepted for payment all validly tendered shares.
Panacea Biotec expects USFDA approval for collaborated drug by next year to early-2016
Panacea Biotec is involved in research, manufacturing, export and marketing of branded pharmaceutical formulations, vaccines and biosimilars. With an annual turnover of USD $ 225 million, Panacea Biotec features amongst the finest 50 pharmaceutical companies of India with significant domestic & international presence.
The stock of the company trading firm as the company enters into pact with Rising Pharmaceuticals Inc., one of industry's leading organization involved in marketing and distribution of innovative branded and multi-source prescription and over-the-counter pharmaceutical products in USA. The collaboration has been established for an oral controlled release product utilizing the company's platform oral drug delivery technology. The dossier for the product is currently under review by FDA. Under the terms of the agreement, Panacea Biotec shall receive an upfront research fee on signing as well as a milestone payment on approval of the product by FDA.
Trivitron wins prestigious India Health & Wellness Technology Awards 2014
Trivitron Healthcare, India’s largest Medical Technology Company, has received the much coveted India Health & Wellness Awards 2014 under Health & Wellness Technology category. Trivitron was bestowed this award in a gala function held at Hotel Hyatt Regency in Delhi on 20th December. Dr. Sanjay Jaiswal handed over the award to Dr. GSK Velu, Founder and Managing Director, Trivitron Healthcare and Chandra Ganjoo, General Manager, Trivitron Healthcare in presence of Shripad Yasso Naik, Union Minister of state for AYUSH & MOS health, Government of India.
A pioneer in several fields, Trivitron has revolutionized medical technology in India and abroad. The company has a diversified portfolio in the medical technology space with interests in In-Vitro Diagnostics, Medical Imaging, Critical Life Support, Operation Theatre and Healthcare Delivery and Services. Over the last year, Trivitron has focused on bringing technology to masses and making healthcare affordable for all. Keeping this in mind, the company has brought forth several world-class products like the Hitachi Aloka Ultrasound, at affordable prices, by manufacturing these technologies in India.
Gujarat CM meets Minister for Chemicals & Fertilisers Ananth Kumar
The Gujarat Chief Minister Anandiben Patel met the Minister for Chemicals & Fertilisers Ananth Kumar, New Delhi to discuss various projects relating to the State in the fields of chemicals, fertilizers and pharmaceuticals. It was decided that a joint working group of officials of the Ministry of Chemicals & Fertilisers and the State Government will be formed to take forward various projects that are in the pipeline. They include developing a full-fledged campus for the National Institute of Pharmaceutical Education & Research (NIPER) at Ahmadabad, to further develop the Petroleum, Chemicals and Petrochemicals Investments Region (PCPIR)/SEZ at Dahej, where the ONGC Petro Additions Limited (OPaL) is already setting up a plant. Both the leaders expressed happiness that the Gujarat is the only State which exceeded the targeted investments for the PCPIR and decided that they will further take it forward through downstream industries in the plastics sector also.
Himalaya launches My Lakshya campaign
The Himalaya Drug Company, India’s leading herbal health and personal care company, which recently forayed into the men’s grooming segment with their Himalaya For Him brand of face washes, has launched ‘My Lakshya’ a unique campaign that redefines the value of living your dream. Himalaya conducted a survey to understand people’s dreams and ambitions across Mumbai, Delhi and Bangalore speaking to a mix of college goers as well as first jobbers. The study revealed that a great number of people chose or followed a career path based on their parent’s decisions, social pressures or financial security. However there was a heaven and earth difference between their dream career and their actual career. The study also highlighted how each respondent sought parental support and acceptance of their career choices.
DoctorC Expands, Arrives in Bangalore
DoctorC today announced the official launch of its services in Bangalore, along with its growth roadmap for the next two months. The company has already partnered with leading diagnostic centers in Bangalore, including Elbit Medical Diagnostic Center, Dr. Lal Pathlabs, Santosh Diagnostic and Scan Center and PathCare Labs and is in the process to tie up with more over the next two months, to offer its services to citizens in the city.
Being hailed as the ‘Make my Trip’ of medical tests, DoctorC is a mobile and internet application that brings transparency in medical testing. The company was launched in October 2013, and is already selling at an annual run rate of over Rs. 1,70,00,000 worth of tests per year.
DoctorC enables consumers to compare prices and quality across various tests that include MRI, CT Scans, Ultrasound, Blood tests, ECG, and EEG amongst others, across a variety of diagnostic centers in the city and book appointments. They organize local information about healthcare providers and services which help consumers make educated choices. In the process, they also provide discounts and allow the tests to be booked on the phone, online or through a mobile app.
How India got 2000% return on Anti-Malaria Investment
The World Health Organisation’s World Malaria Report 2014, released last week, indicates dramatic success against malaria, with mortality rates down by 47% globally since 2000, and 55 countries, including India, on track to reduce their malaria burden by 75% next year. Without much publicity, India got many things right in the war against malaria. A cost–benefit analysis has calculated that each rupee invested by the National Malaria Control Program pays a dividend of Rs 19.7. Malaria along with six other diseases (HIV/AIDS, tuberculosis, measles, hepatitis B, diarrhoea, and pneumonia) imposes a great socio-economic burden and accounted for 85% of the global infectious disease burden, according to a retrospective study.
Bihar CM inaugurating the state's first prefabricated additional primary healthcare centre
Bihar’s CM Jitan Ram Manjhi has inaugurated the Additional Primary Health Centre located at Mehkar, Distt. Gaya. This primary Health centre has been built by ACME in a short span of just3 months using the novel Prefabrication technology. This technology will help the state to not only to strengthen its infrastructure facilities but also help to showcase its efforts of bringing down the carbon-footprint and adoption of environmental-friendly technologies for nation building. This MehkarAPHC will serve as a model infrastructure to the country that is earnestly looking forward to give strong impetus on development of its much-needed rural infrastructure as well as cut down its carbon footprint.