14th July 2022 | Pharma Updates

PharmaState Updates – Latest Pharma Happenings

CBDT discovers Rs 300-crore tax evasion at Micro Labs,the producer of Dolo tablets

The Dolo-650 manufacturers are being accused by the Central Board of Direct Taxes (CBDT) of providing doctors and other medical professionals with freebies worth Rs 1,000 crore in exchange for promoting their brand.

Recovery of pharma industry may be delayed but not derailed

According to Unichem Laboratories Ltd Chairman and MD Prakash A Mody, the pharma industry’s perspective is one of cautious optimism, and the recovery may be delayed but not derailed.

First eyedrop to replace reading glasses approved by USFDA

The first eye drop to enhance aging-related near vision has recently received approval from the US Food and Drug Administration. You can use the eye drop solution called Vuity to improve your eyesight throughout the day and stop carrying around reading glasses.

Supreme Court resolves Kadiprol issue between Cadila Healthcare & Gujarat Tax Department

The Supreme Court of India has now closed the case between Gujarat sales tax office and drug giant Cadila Healthcare, which have been engaged in a protracted legal battle over whether to classify the latter’s product Kadiprol as a medicine or a poultry feed.

More than 50 Indian companies intend to release sitagliptin combo treatments shortly

The anti-diabetic medicine sitagliptin will soon be available in combinations with metformin or dapagliflozin in the Indian market, according to about 50 key manufacturing companies in the country.

Standard Chartered to lend Jubilant Pharma $400 million to pay off debt

Jubilant Pharma Holdings Inc. (JPHI), a wholly-owned subsidiary of Jubilant Pharmova Limited, has entered into an agreement with Standard Chartered Bank for a five-year loan facility for the repayment of existing term loans and future growth capex.

Abbott receives FDA's breakthrough device designation to investigate use of deep brain stimulation

In order to study the use of its deep brain stimulation (DBS) device in treatment resistant depression, Abbott announced that the U.S. Food and Drug Administration (FDA) had given Breakthrough Device Designation.