17th September 2022 | Pharma Updates

Latest pharmaceutical industry news and updates

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Mankind Pharma files papers with SEBI for IPO

The company has filed its draft herring prospectus (DRHP) with the Securities and Exchange Board of India to raise funds through IPO (Initial Public Offering). The IPO is expected to be of around ₹5,500 crore and could be one of the largest ever in pharma.

Govt to cap margins of key drugs with introduction of TMR

Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers has sought an improvement of paragraph 19 of the Drug Price Control Order to fix the MRP of any class of non-scheduled drugs under TMR (Trade Margin Rationalization).

Zydus Lifesciences gets tentative USFDA approval for new Sugammadex injection

Zydus Lifesciences announced that its US arm has received preliminary approval from the regulatory body to market its generic version of Sugammadex injection.

Johnson & Johnson prohibited to manufacture or sell talcum powder in Maharashtra

Food and Drug Administration in Maharashtra canceled the company’s license over safety concerns on Thursday barring them from manufacturing or selling its baby powder in the state.

AbbVie and BMS to terminate 360 jobs in latest stroke of biopharma layoffs

In a worker Adjustment and Retaining Notification (WARN) alert filed this week, AbbVie and BMS (Bristol Myers Squibb) informed California that they plan to lay off 99 and 261 employees respectively in the month of November this year.

Govt launches new diabetes drug and its combinations at affordable price

On Friday, government launched Sitagliptin and its combinations such as Sitagliptin and Metformin Hydrochloride tablets of 50mg/500mg priced at ₹65 for a pack of ten and 50mg/1000mg priced at ₹70 for the same pack to be sold at generic pharmacy stores and Janaushadhi Kendras.

Novartis takes Entresto generic case to FDA again after similar appeal rejected in April

Novartis has filed a petition to the US regulatory body to not approve any copies for its blockbuster heart failure drug Entresto till the end of its three-year exclusivity period in February 2024.

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