Biopharmaceutical company Biocon on Monday announced that the board of directors of Biocon Biologics Limited, a material subsidiary of Biocon Limited, has approved the proposed acquisition of biosimilars assets of Viatris Inc. The transaction is subject to necessary regulatory and other approvals. Viatris will receive consideration of up to $3.335 billion, including cash up to … Read more
The pharmaceutical sector in the country can grow to USD 130 billion by 2030, industry captains said on Friday. He, along with other industry leaders, participated in a ‘CEOs Conclave’ as part of ‘BioAsia 2022’, the Telangana government’s flagship annual life sciences convention that concluded on Friday. “I think USD 130 billion by 2030 is … Read more
Everyone needs money for varied reasons and Cipla promoters are no different. They are selling a small percentage of their holding to fund their requirements. Key points to note – The promoters own 36.1% of the Company of which they are selling about 2.5% i.e., about 6.9% of their total holding. Estimated amount that will … Read more
The Company’s board is scheduled to meet on December 28, 2021 to take the decision. Key points to note – This is 3rd year in a row. Previous ones being Jan-Mar 2019 and Nov-Dec 2020. Jan – Mar 2019: Rs 100 crore at Rs 1,300 per share as against the then prevailing price of around … Read more
Eris has formed a JV with MJ Biopharm for this purpose. Key points to note – Eris will hold 70% of the JV and MJ 30%. MJ is also getting Rs 15 crore as one time lump sum licence fee. MJ will be responsible for development of products and Eris marketing of those. JV seems … Read more
The Company has confirmed that it is developing a nasal spray for COVID-19 prevention for which it has initiated the clinical trials. Key points to note – The product would be helpful in preventing infection and transmission of COVID-19. It has been developed by scientists at ITC Life Sciences and Technology Centre (LSTC). The same … Read more
IPCA already owns 9.84% of Lyka. Besides, IPCA’s promoters separately held 1.18% in Lyka. It has now bought additional 16.73% from Lyka’s shareholders taking it’s total stake to 26.57% (excluding the above 1.18%). Key points to note – In line with the regulations, the transaction has kicked an open offer of additional 26% at the … Read more
The ₹7,500 crore pharma major is one of the firms that has tied up with Russian Direct Investment Fund to manufacture COVID-19 vaccine Sputnik V in India. The Income Tax Department has detected “unaccounted” income of ₹550 crore and has seized over ₹142 crore cash after it recently raided Hyderabad-based Hetero pharmaceutical group, official sources … Read more
As many as 354 Crisil-rated companies, predominantly pharmaceutical firms and hospitals, with an aggregate bank exposure of Rs 40,000 crore will be eligible for Covid loans from lenders under RBI’s liquidity facility. Though pharmaceutical firms account for 68 per cent of rated bank exposure, hospitals (about 24 per cent of rated exposure) are likely … Read more