All stories by Sohini Das
Q3 result preview: US, India to aid revenue growth for Pharma Inc
Rediff.com30 Jan 2024The pharmaceuticals sector is expected to post a revenue growth of around 13.5 per cent and a net profit growth of 30.3 per cent for the third quarter of 2023-24 (FY24), riding on the approval for niche drugs in the US market, fall in raw material prices and correction in shipping rates. In the healthcare segment, hospitals are expected to post revenue growth of 13 per cent during the coverage, while net profit growth would be around 37 per cent, ICICI Securities said in a note. However, the performance may not be comparable on a sequential basis due to the offset of the festive season in Q3FY24, the analysts noted.
'Aster DM's plan is to be among top three in India'
Rediff.com27 Jan 2024'Now that we are a pure-play India business, many investors are open to investing.'
Fortis plans acquisitions, may opt for neutral brand name
Rediff.com22 Jan 2024Delhi-headquartered Fortis Healthcare is open to acquisition of hospitals with over 250-300 bed sizes as part of its strategy to grow at a faster clip. It may also opt for a neutral brand name soon. Neutral brand is a new brand, which is not owned by any of the stakeholders.
Domestic pharma market grew by 6.8% in 2023
Rediff.com22 Jan 2024The Indian pharmaceutical market (IPM) grew 6.8 per cent to touch a turnover of ~1.93 trillion in calendar year 2023, despite volumes going down marginally by 0.9 per cent. This indicates the price increase has been the major growth driver. Growth in the moving annual turnover (the previous 12 months' turnover) in December was 5.1 per cent and that in new product introduction 2.6 per cent, while volumes dipped 0.9 per cent, leading to an overall growth rate of 6.8 per cent, according to the data from market research firm Pharmatrac.
From Ashok Leyland to VECV, busmakers' sales entered the fast lane in 2023
Rediff.com10 Jan 2024The demand for buses largely remained robust in 2023, driven by the increasing need for public mobility and replacement. Ashok Leyland Limited (ALL) recorded a 64 per cent year-on-year increase in sales of medium and heavy commercial vehicle (MHCV) buses during the April-to-December period of 2023 to 11,216 units. Volvo Eicher Commercial Vehicles (VECV) posted 24.7 per cent sales growth between April and December for light and medium-duty buses, and 36.9 per cent growth for heavy-duty buses.
'APIs are a very strategic part of Biocon's business'
Rediff.com7 Jan 2024'There is no reason why we should break this business up.'
Trade generics growth to dent value expansion of domestic drug market
Rediff.com2 Jan 2024Rising penetration of trade generic medicines is eating into the value growth of the domestic pharmaceutical market, showed a recent analysis. According to a Kotak Institutional Equities analysis, 70-110 basis points (bps) annual dent is expected from trade generics and Jan Aushadhi on Indian Pharma Market (IPM) growth at least until FY27-28 (see chart). Trade generic medicines are those that are not pushed into the market through doctor promotions.
Hyderabad firm develops next-gen XBB1.5 Covid vax, awaits trial nod
Rediff.com28 Dec 2023As of now, Gennova Biopharmaceuticals has launched a vaccine, Gemcovac-OM, which is based on the Omicron variant.
Does India have enough vaccine reserves to combat another Covid wave?
Rediff.com27 Dec 2023According to CoWIN data, only 73 vaccination centres are currently active in India, of which 32 are government-run.
Medica + Manipal Will Overtake Apollo
Rediff.com12 Dec 2023Next year Medica and Manipal will merge, making the amalgamated entity the largest corporate hospital chain in the country, overtaking Apollo Hospitals Enterprises.
Auto industry Q2 preview: Product mix, commodity tailwinds to aid margins
Rediff.com21 Oct 2023Automobile manufacturers are likely to report strong numbers for the September quarter of Financial Year 2023-24 (Q2 FY24), riding on growth across segments and offset by a marginal drop in overall two-wheeler (2W) volumes. Higher average selling price (ASP) year-on-year (YoY), which was necessitated by price hikes taken by original equipment manufacturers (OEMs), and an improved product mix will also aid revenues and margins. Moreover, commodity prices are down on a YoY basis, leading to higher margins in earnings before interest, taxes, depreciation and amortisation (Ebitda).
Nirma's new clothes: The journey of detergent brand towards healthcare
Rediff.com12 Oct 2023Nirma's tryst with the pharmaceutical space started in 2006 when it acquired the ailing Core Healthcare in a deal reported to be worth Rs 300 crore. The Ahmedabad-based manufacturer of intravenous fluids was subsequently renamed Nirlife. Pharma industry insiders say Nirma, which broke open the detergent market in the 1990s with low prices and massive advertising, tried an encore of the low-price strategy in pharma, but with mixed results.
Indian pharma exports to Iran decline thanks to its lower rupee reserves
Rediff.com3 Oct 2023India's pharmaceutical exports to Iran have been hit owing to depleting rupee reserves in the West Asian country because of India stopping the import of crude oil from it in 2019 following US sanctions. Pharmaceutical exports dropped 71.25 per cent in April-August this year over the same period last year. The data from the Pharmaceutical Exports Promotion Council (Pharmexcil) showed exports to Iran had declined 31.29 per cent in 2022-23 as against the previous financial year.
Cipla deploys drones to fly in critical drugs
Rediff.com27 Sep 2023Drug major Cipla on Tuesday said it has launched drone-powered deliveries of critical medicines - cardiac, respiratory and other essential chronic therapies - to hospitals and pharmacies across Himachal Pradesh in partnership with Skype Air Mobility, a Gurugram-based drone delivery company. Cipla is the first among large Indian pharmaceutical companies to adopt drone-based deliveries to facilitate expedited supply to stockists in remote areas, it claimed. The Mumbai-based firm said the use of drones will support the on-time delivery of its medicines to chemists and clinics in remote areas, and minimise risks of affecting cold chain products due to temperature excursions.
'Need to make Auto Exports a national mission'
Rediff.com26 Sep 2023'There is a need for a national task force with a singular objective to increase automotive exports.'
Jeep To Drive Petrol Options For India
Rediff.com26 Sep 2023The iconic brand is considering petrol powertrains for its entire Indian portfolio, which includes the Jeep Compass, Meridian, Grand Cherokee and Wrangler.
Cipla, Torrent may need to divest 15 brands in buyout deal: Bernstein
Rediff.com14 Sep 2023As the market buzzes with news of Cipla promoters exiting the business through a stake sale and Ahmedabad-based Mehta family-led Torrent Pharmaceuticals racing to acquire its rival, Cipla, an analysis reveals that if the deal were to go through, both companies might need to divest as many as 15 brands to comply with Competition Commission of India (CCI) norms. A recent analysis by Bernstein shows that Cipla and Torrent share a presence in 332 products (based on product and molecule data from market research firm IQVIA). Bernstein analysts Nithya Balasubramanian and Parth Shah noted that, while this may appear as a high number, a significant portion of these products lack significance.
India's pharma industry likely to take 5-6% price hikes this year
Rediff.com6 Sep 2023Notwithstanding the fact that the country's pharmaceutical (pharma) pricing regulator has allowed a 12 per cent price increase for medicines listed under the National List of Essential Medicines (NLEM) in 2023, analysts and industry insiders predict that the overall domestic pharma industry will only witness a price hike of 5-6 per cent. This is attributed to higher competitive intensity in the market. Krishnakumar V, executive director and chief operating officer (CEO) of Eris Lifesciences, a domestic-focused pharma company, noted that the NLEM segment experienced growth suppression of around 150 basis points due to price reductions during the January to July period this year.
'Power shifts to chemists instead of doctors'
Rediff.com22 Aug 2023'Whichever company offers better incentives, the chemist would prefer it.'
Why Dolo, Saridon, Calpol Will Have QR Codes
Rediff.com8 Aug 2023The top 300 pharmaceutical brands in the country will now bear a quick response (QR) code on their packaging to rein in spurious drugs and ensure better traceability.