All stories by Sohini Das
Big pharma firms shift tack, look to bet on trade generics as volumes dip
Rediff.com7 Aug 2023Trade generic drugs (medicines that are sold directly through distributors) are fast becoming a key segment for domestic pharma firms as volume growth slows in the overall market. Big companies like Cipla and Alkem have a significant presence in the segment but recently, players like Torrent Pharmaceuticals and Dr Reddy's Laboratories (DRL) have also entered this market. What is driving big pharma's focus on trade generics? The volume growth in the Indian Pharma Market (IPM) has come down from 5.6 per cent in FY16 to 0.1 per cent in FY23.
M&M picks 3.5% stake in RBL Bank for Rs 417 cr, eyes to acquire more
Rediff.com27 Jul 2023Diversified business conglomerate Mahindra and Mahindra (M&M) has picked up a 3.53 per cent stake in private sector lender RBL Bank for Rs. 417 crore. "We may consider further investment, subject to pricing, regulatory approvals, and required procedures. However, in no circumstance will it exceed 9.9 per cent," M&M said in an exchange notification on Wednesday. Shares of RBL Bank jumped 7.1 per cent to settle at Rs. 238.8 apiece on the BSE on Wednesday, close to their 52-week high of Rs. 242.1.
Tata Motors applies for PLI benefits for Tiago electric car
Rediff.com27 Jul 2023Tata Motors, the market leader in electric four-wheeler space, has sought incentives for its Tiago EV under the government's production-linked incentive (PLI) scheme, group chief financial officer P B Balaji said on Tuesday. The Mumbai-headquartered firm has applied for all variants of the Tiago, which recently hit a sales milestone of 10,000 units. "The Automotive Research Association of India certification is done.
US drug shortage, stable pricing set to boost pharma revenues
Rediff.com24 Jul 2023An acute drug shortage in the US and stable pricing along with product launches are likely to boost revenues of India's pharmaceutical companies during the first quarter of this financial year, analysts said. Most brokerages estimate a top line growth of around 14-15 per cent, with earnings before interest, taxes, depreciation, and amortisation (Ebitda) growth of 24-30 per cent for Q1 of FY24. Hospitals are, however, likely to report lower occupancy rates, and diagnostics companies may witness an impact from delayed monsoon.
Price hikes, lower input costs to aid auto firms' Q1
Rediff.com22 Jul 2023Auto industry volumes have grown by 2.5 per cent overall, led by domestic sales of three-wheelers, two-wheelers and passenger vehicles (PVs) in the first quarter of this financial year. Analysts predict an 18 per cent growth in revenues for automotive original equipment manufacturers (OEMs) and profit growth of 69 per cent year-on-year (YoY). However, on a sequential basis, a decline in revenues as well as earnings before interest, taxes, depreciation, and amortisation (Ebitda) margins is expected.
GST waiver for rare disease drugs brings little relief: pharma sector
Rediff.com20 Jul 2023India's pharma sector on Wednesday said the Goods and Services Tax (GST) Council's decision to exempt tax on rare diseases drugs is unlikely to benefit the population unless the waiver is extended to drugs that are made commercially available in the country. The GST Council on Tuesday (July 11) said the Integrated Goods and Services Tax (IGST) on medicines and Food for Special Medical Purposes (FSMP) used for treating rare diseases enlisted under the National Policy for Rare Diseases, 2021, will be exempt when imported for personal use subject to existing conditions. "We support the government's move to address the needs of patients suffering from rare diseases.
What is Schedule M and why it's mandatory for all pharma units
Rediff.com12 Jul 2023With an eye on improving quality assurance in the wake of increased global scrutiny on Indian pharma products, the Centre on Tuesday said that Schedule M of the Drugs and Cosmetics Act, 1940 will be made compulsory for small and medium scale manufacturers in a phased manner. Union Health Minister Mansukh Mandaviya has asked micro-small and medium enterprises in pharma manufacturing to move towards good manufacturing practices (GMP) through self regulation. "This will help in quality assurance and also reduce compliance burden," Mandaviya.
'Mercedes To Launch 10 Cars In 2023'
Rediff.com3 Jul 2023'And a majority will be in the top-end vehicle range.'
Regulatory woes torpedo PE/VC deals in e-pharma sector
Rediff.com27 Jun 2023With regulatory uncertainties clouding the future of online pharmacies, deals in the space are showing signs of slowdown, as also fresh investment from private-equity (PE) firms and venture capitalists (VCs). The data from Venture Intelligence shows so far in 2023 (as of June 13) there has been one deal with PE-VC funding. In 2022 there were four, a sharp fall from the 12, totalling $1,520 million, the sector had attracted in 2021.
US drug shortage a shot in the arm for Indian pharmaceutical companies
Rediff.com26 Jun 2023Drug shortages in the US are at an all-time high, and price erosion has stabilised, which could benefit Indian pharmaceutical (pharma) companies with a US focus, according to analysts. Nuvama Research analysts said that US price erosion seems to have normalised to its old levels of 6-8 per cent and volumes are picking up with easing of inventory. Similarly, an ICICIdirect analyst noted: "Price erosion intensity has now moderated to a single digit and is expected to tone down a
Nigeria flags 2 India-made drugs as substandard, having toxins
Rediff.com20 Jun 2023Oral paracetamol and another cough medicine manufactured by companies based in Mumbai and Punjab were found to be "sub-standard or found to be containing toxins", reports Sohini Das.
Can Maruti Jimny Compete With The Thar?
Rediff.com20 Jun 2023Jimny will be priced between Rs 12.7 lakh and Rs 15.05 lakh.
Better chip supply fuels passenger vehicle production by 16%: Siam
Rediff.com14 Jun 2023Amid better semiconductor chip supplies, the Indian automotive industry posted an 8 percent growth in production of vehicles across categories for the month of May, with three-wheelers (20 per cent) and passenger vehicles (16 per cent) leading the pack. Exports, however, dipped 21 per cent at an industry level. The industry also recorded its highest-ever May wholesales of domestic passenger vehicles (334,802 units), riding on high demand for sport utility vehicles (SUVs) and better supplies of semiconductor chips.
Under the lens: Regulator moots pre-export govt testing for cough syrup cos
Rediff.com24 May 2023After reports of contamination in cough syrups sent from the country, India is considering a system to test them before exporting. It is learnt that the Central Drugs Standard Control Organisation (CDSCO) has sent a proposal to the Union health ministry on this. The idea is to test the medicines at government labs before exporting.
Drug sales stuck at pre-pandemic level, price rise shapes market growth
Rediff.com16 May 2023Drug sale volumes are almost stuck at pre-pandemic levels but price growth has improved value, data from market research agency Pharmarack AWACS showed. The Indian pharmaceutical market's (IPM) volumes in April 2023 grew by 0.21 per cent when compared to April 2019. Key therapy areas like cardiac, anti-diabetic and vitamins recorded negative volume or consumption growth, while respiratory, anti-infectives, and pain and analgesics had positive growth from April 2019 to April this year.
Mahindra and Mahindra gears up for EV play; aims to make 200,000 EVs a year
Rediff.com9 May 2023Analysts have predicted a 23 per cent volume growth for the auto segment between FY22 and FY25, riding on the company's differentiated EV and SUV plan. M&M is already a market leader with a 36 per cent share in electric three-wheelers, and its Zaheerabad plant in Telangana is ready to cater to demand. In the farm segment, the company plans to focus on niche electric products.
Import of key Chinese medical devices rises up to 152% till Dec FY23
Rediff.com5 May 2023In the first nine months of financial year 2022-23, India's exports of medical devices have grown by 17 per cent, while imports have declined by around 8 per cent, show the latest data compiled by the Association of Indian Medical Device Industry (AiMeD). However, import of 30 medical devices from China has risen between 25 per cent and 152 per cent during this period, the AiMeD has written to Commerce and Industries Minister Piyush Goyal in March. The AiMeD is an umbrella organisation of medical device makers.
Can Jaguar Land Rover Meet its EV Target by 2030?
Rediff.com29 Apr 2023The question is: Will the company have a strong balance sheet to support this massive investment plan?
It's Raining Discounts For Car Buyers
Rediff.com28 Apr 2023Dealers across brands are slashing prices by Rs 20,000 to over Rs 1 lakh, depending on the car model.
India business to put a spring in pharma's step
Rediff.com26 Apr 2023Hospitals to recover from sluggish Q3; diagnostics' growth rate at pre-Covid levels.