22nd November 2022 | Pharma Updates

Latest pharmaceutical industry news and updates

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Aurobindo Pharma plans to finish PLI Penicillin G project worth ₹ 2,000 Crore by March 2024

Headquartered in Hyderabad, drugmaker Aurobindo Pharma plans to complete the Penicillin G (Pen G) manufacturing plant worth ₹2,000 crores by March 2024. The facility is expected to have a production capacity of 15,000 tonnes a year.

Cresto Pharma declares it is "no longer the subject of Investigation" by ASIC

The company has announced that it is no longer under the scanner for an investigation by the Australian Securities and Investment Commission (ASIC). ASIC’s letter to the company confirmed that the of its aim investigation no longer includes any suspected contraventions by Creso Pharma.

Conservative group sues FDA to put a halt on the sale of abortion pills

The constitutional right to abortion was revoked by the U.S Supreme Court earlier this year. Now, anti-abortion medical organizations are aiming to remove the pills from the market that induce miscarriage and have been on the market in the U.S. for more than two decades.

Merck to acquire Imago BioSciences for $1.35 Billion

On Monday, Merck Pharma announced that it would acquire Cancer drug developer Imago BioSciences for a total equity value of 1.35 Billion Dollars. Merck’s offer of 36 dollars per share in cash for Imago shows nearly a 107% premium to the company’s last closing price.

Alembic Pharma receives final USFDA approval for Nifedipine extended-release tablets

Alembic Pharmaceuticals Ltd. announced that they have received approval from USFDA for the ANDA (Abbreviated New Drug Application) Nifedipine extended-release tablets, 30 mg, 60 mg, and 90 mg USP strengths.

Delhi HC alerts BDR Pharma to be careful in implementing its orders in future

The Delhi High Court warned BDR Pharmaceuticals to be careful in the future regarding the implementation of its orders while disposing of various applications filed by Bristol-Myers Squibb Ireland (BMS) about the alleged violation of patent rights for its anticoagulation drug ‘Apixaban’ by the former.

Glenmark Pharma finals agreement with Pfizer for Axitinib Tablets

Glenmark Pharmaceuticals, USA and Glenmark Pharmaceuticals Ltd. have come to a settlement agreement with Pfizer, PF Prism C.V., and PF Prism IMB B.V. for Axitinib Tablets of 1 mg and 5 mg strength which is the generic version of their Inlyta-1 Tablets (1 mg and 5 mg).

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