15th December 2022 | Pharma Updates

Latest pharmaceutical industry news and updates

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International fake drug export racket busted in Hyderabad

The Rachakonda police in Hyderabad busted a racket and arrested two men red-handed involved in exporting fake drugs into the international market after seizing 8.5 kg of pseudoephedrine, which is worth ₹9 Crores in the international market.

Fosun's sale of Gland Pharma to become India's largest pharma deal

Several buyout companies including Advent International, Baring Private Equity Asia, Bain Capital, Blackstone, and more have been approached to buy Fosun-owned Gland Pharma and if the deal goes forward this will become India’s largest pharma deal to date.

USFDA puts import alert on Sun Pharma's Gujarat facility

The company announced to its stakeholders that its Halol, India facility has been placed under USFDA’s import alert after the results were declared for the inspection that was conducted between April 26, 2022 – May 09, 2022.

Balaxi Pharma invests ₹ 85 Crores to develop new manufacturing facility in Hyderabad

Balaxi pharma recently performed the ceremony to inaugurate its US-FDA, EU-GMP, and WHO-Geneva Compliant Pharmaceutical Formulation facility at Jadcherla Mandal, Telangana. The company will build a state-ofart facility that will facilitate its entry into European markets.

Torrent Pharma inks pact with Boehringer Ingelheim India to co-market diabetes drug

On Wednesday, Torrent Pharma announced that it has inked an agreement with Boehringer Ingelheim India to market antidiabetic drugs and its combinations in the country together. The companies have agreed upon to co-market Cospiaq, Cospiaq Met and Xilingio.

Ammendment to FTP to provide positive results for India

According to the RBI circular on July 11, 2022 settlement of trade transactions in Rupees may occur through special rupee Vostro accounts opened by authorized dealer banks in India. With this amendment in FTP ( Foreign Trade Policy), invoicing, payment, and trade settlement can now occur in Indian currency.

Mirati Therapeutics receives approval from USFDA for lung cancer drug

The US drug regulatory body approved Mirati Therapeutics Inc’s lung cancer drug oral drug, ‘Adagrasib’ rising its shares up by more than 8 percent in extended trading. It has been indicated to treat adult patients with advanced lung cancer.

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