Pharma Sector

According to a business announcement, net profit increased by 79% to ₹909 Crore in the fourth quarter of FY24, from ₹506 Crore in the same period in FY23.

The total net profit for the fiscal year ended March 31, 2024 was ₹1,656 Crore, up from ₹1,245 Crore the previous year, according to the business.

The net profit and EBITDA margin excluding ex-Cenexi, a contract manufacturing firm that Gland acquired for more than ₹1,000 Crore last year.

AVT03 is a human monoclonal antibody and a biosimilar contender for Prolia and Xgeva, both of which contain denosumab.

This approval builds on company’s successful track record of bringing the first interchangeable insulin, Semglee.

Lupin said the business is thoroughly reviewing the findings and would respond to the USFDA within the timeframe specified.

Alembic plans to invest ₹550-₹600 Crore on R&D in FY25, focusing on creating a pipeline of medicines for the US market.

Cipla primarily develops drugs to treat respiratory disease, cardiovascular disease, arthritis, diabetes, depression, etc.

During the quarter, Mankind introduced four new drugs in the United States, bringing the total number of launched items to 39.

The partnership follows Biocon's success in becoming the first business to receive approval for gLiraglutide in an ICH country.