Dr Reddy's Laboratories posts lower net profit at Rs. 575 cr in Q3

Dr Reddy's Laboratories, second largest Indian pharma major after Sun Pharmaceuticals with net sales of Rs. 13,200 crore plus, has received setback during the third quarter ended December 2014 on account of higher R&D expenditure and higher tax provisions. The company's consolidated net profit declined by 7.1 per cent to Rs. 575 crore from Rs. 619 crore in the corresponding period of last year despite higher finance income of Rs. 101 crore as compared to Rs. 1.47 crore in the previous period.

Though the overall performance was under pressure, DRL scrip moved up smartly by over 4 per cent or over Rs. 130  in the afternoon session on BSE to Rs. 3,366.

The consolidated net sales improved by 8.7 per cent to Rs. 3,843 crore from Rs. 3,534 crore in the similar quarter of last year. Its sales of global generic went up by 7.8 per cent to Rs. 3,169 crore from Rs. 2,940 crore and that of pharmaceutical services & active ingredients (PSAI) improved by 22.1 per cent to Rs. 799 crore from Rs. 654 crore. However, the sales from proprietary products declined by 18.8 per cent to Rs. 39 crore from Rs. 48 crore and other sales declined by 40.2 per cent to Rs. 24 crore from Rs. 40 crore.

The revenues from North America increased by 4 per cent to Rs. 1680 crore. The company launch limited competition products namely decitabine, azacitidine and divalproex sodium ER and expanding market share of key molecules namely ziprasidone, amlodipine-atorvastatin and sumatriptan auto injector. It launch 6 new products during the quarter ended December 2014. It filed 2 ANDas and 68 ANDAs are pending for approval with US FDA. Out of this 13 are 'First to File' status.

NEW DELHI: Torrent Pharmaceuticals plans to raise up to Rs 10,000 crore by issuing securities and will seek shareholders' nod in this regard.

The proposals were cleared by the company's board during its meeting today.

With regard to the fund raising plans, the company would put forward enabling resolutions before the shareholders, it said in a filing to the BSE.

The Ahmedabad-based firm plans to allot "equity shares including convertible bonds/debentures through Qualif ..

Read more at:
http://economictimes.indiatimes.com/articleshow/46046565.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

NEW DELHI: Torrent Pharmaceuticals plans to raise up to Rs 10,000 crore by issuing securities and will seek shareholders' nod in this regard.

The proposals were cleared by the company's board during its meeting today.

With regard to the fund raising plans, the company would put forward enabling resolutions before the shareholders, it said in a filing to the BSE.

The Ahmedabad-based firm plans to allot "equity shares including convertible bonds/debentures through Qualif ..

Read more at:
http://economictimes.indiatimes.com/articleshow/46046565.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Torrent Pharmaceuticals plans to raise up to Rs 10,000 crore by issuing securities and will seek shareholders' nod in this regard.

The proposals were cleared by the company's board during its meeting today.

With regard to the fund raising plans, the company would put forward enabling resolutions before the shareholders, it said in a filing to the BSE.

The Ahmedabad-based firm plans to allot "equity shares including convertible bonds/debentures through Qualified Institu ..

Read more at:
http://economictimes.indiatimes.com/articleshow/46046565.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Torrent Pharmaceuticals plans to raise up to Rs 10,000 crore by issuing securities and will seek shareholders' nod in this regard.

The proposals were cleared by the company's board during its meeting today.

With regard to the fund raising plans, the company would put forward enabling resolutions before the shareholders, it said in a filing to the BSE.

The Ahmedabad-based firm plans to allot "equity shares including convertible bonds/debentures through Qualified Institu ..

Read more at:
http://economictimes.indiatimes.com/articleshow/46046565.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Torrent Pharmaceuticals plans to raise up to Rs 10,000 crore by issuing securities and will seek shareholders' nod in this regard.

The proposals were cleared by the company's board during its meeting today.

With regard to the fund raising plans, the company would put forward enabling resolutions before the shareholders, it said in a filing to the BSE.

The Ahmedabad-based firm plans to allot "equity shares including convertible bonds/debentures through Qualified Institu ..

Read more at:
http://economictimes.indiatimes.com/articleshow/46046565.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Torrent Pharmaceuticals plans to raise up to Rs 10,000 crore by issuing securities and will seek shareholders' nod in this regard.

The proposals were cleared by the company's board during its meeting today.

With regard to the fund raising plans, the company would put forward enabling resolutions before the shareholders, it said in a filing to the BSE.

The Ahmedabad-based firm plans to allot "equity shares including convertible bonds/debentures through Qualified Institu ..

Read more at:
http://economictimes.indiatimes.com/articleshow/46046565.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Ajanta Pharma net zooms by 36% in Q3, plans sub-division of shares

Ajanta Pharma, a Rs.1,000 crore Mumbai based pharma major, has posted impressive performance during the third quarter ended December 2014 with new launches. Its net profit has taken a quantum jump of 35.7 per cent to Rs.84.71 crore from Rs.62.42 crore in the corresponding period of last year. Its net sales also went up by 21.8 per cent to Rs.356.28 crore from Rs.292.59 crore. With strong growth in bottomline, its EPS improved to Rs.24.08 from Rs.17.75. Exports contributed 61 per cent of the revenue for the December quarter.

The Board of Directors has approved sub-division of nominal value of equity shares of the company from Rs.5/- each to nominal value of Rs.2/- each. With strong performance and announcement of sub-division, Ajanta Pharma scrip improved by 11 per cent or over Rs.264 in the afternoon session on BSE to Rs.2660.

Rajesh Agrawal, joint managing director, says, “We are pleased with the results of yet another sound quarter. All our growth drivers are performing as per our plans and expectations. We continue to post above industry growth in India and emerging markets in our branded generic business segment. Our Dahej formulation facility (oral solids) implementation has been completed and is undergoing qualification. We expect to take regulatory filing batches from Q1 of FY'16 onwards. Addition of this facility will ensure that we have adequate capacities to cater to our growths in coming years.”

For the nine months ended December 2014, Ajanta's net sales increased by 24.3 per cent to Rs.968 crore from Rs.779 crore in the similar period of last year. Its net profit went up sharply by 47.3 per cent to Rs.222 crore from Rs 151 crore. EBDITA moved up by 42 per cent to Rs.332 crore. EPS worked out to Rs 63.13 as against Rs.42.89 in the last period. Exports contributed 61 per cent of total operating income for the nine months.

Ranbaxy net loss rises to Rs.1,030 cr in Q3

Ranbaxy Laboratories has reported heavy consolidated net loss of Rs.1,030 crore during the third quarter ended December 2014 due to higher provision for taxation, lower sales and forex loss as against Rs.159 crore in the similar period of last year. The company provided Rs.888.19 crore for taxation as compared to Rs.98.14 crore in the same quarter of last year. Further, it incurred a forex loss of Rs.15.28 crore as against forex gain of Rs.103.57 crore. EPS worked out to negative Rs.24.26 as compared to negative Rs.3.76 in the last period.

With poor performance, Ranbaxy scrip declined sharply to 702.40 in the afternoon session on BSE. The scrip touched to its yearly highest level at Rs 724.95 in the morning session today.

Its consolidated net sales declined by 9.5 per cent to Rs.2,588 crore from Rs.2,859 crore. Its US sale touched to Rs.896 crore and that in West Europe reached at Rs.208 crore. Its sales in India increased by 2 per cent to Rs.591 crore. Its sales in East Europe and CIS amounted to Rs 373 crore due to currency depreciation in Russia and Ukraine. Its sales in Africa and Middle East reached at Rs.224 crore. Sales in Asia Pacific and LATAM (including Sri Lanka improved sharply by 46 per cent to Rs.218 crore. Its API sales declined to Rs.71 crore primarily impacted by supply issues at Toansa and Dewas.

Ranbaxy's domestic business improved by 12 per cent. It launched India's first biosimilar of infliximab, Infimab through a licensing partnership with EPIRUS Biopharmaceuticals, Inc. It is indicated for the treatment of inflammatory diseases including rheumatoid arthritis, Crohn's Disease, ankylosing spondylitis, ulcerative colitis, psoriatic arthritis and psoriasis.

The company received the regulatory approval to launch India's first NCE Synriam in seven African countries viz., Nigeria, Uganda, Senegal, Cameroon, Guinea, Kenya and Ivory Coast. The product has since been launched in Uganda and will be made available in other countries towards end of January 2015.

MerLion annnounces positive results from phase 2 trial with inafloxacin

MerLion Pharmaceuticals, a biopharmaceutical company based in Singapore and Berlin, announced positive results from a phase 2 trial with finafloxacin, conducted in Europe, treating patients hospitalised with complicated urinary tract infections (cUTI), including a high proportion with pyelonephritis.

Finafloxacin is a fluoroquinolone antibiotic that demonstrates a substantially improved therapeutic profile over the existing gold standard and greater utility in treating many severe infections, including those caused by a number of resistant Gram-negative pathogens. This superior profile is a result of finafloxacin’s unique chemical structure: in the hostile acidic conditions found at the sites of nearly all infections there is a substantially higher take-up and accumulation of finafloxacin in bacterial cells, as well as superior binding of the molecule to the two fluoroquinolone targets. Most other antibiotics, including other fluoroquinolones, have decreased activity in these acidic conditions where their effectiveness is most needed.

The results from this phase 2 study indicate that patients treated with a five day course of finafloxacin had a higher, more rapid and more sustained level of microbiological eradication and improved clinical outcomes than those treated with the current standard of care (ciprofloxacin taken twice daily for 10 days). The trial’s primary and secondary endpoints were all successfully achieved. Finafloxacin was found to be both safe and tolerable, with only a small number of class-typical adverse events observed.

Novartis selects Qualcomm Life and its 2net technology

Qualcomm Incorporated's subsidiary, Qualcomm Life, Inc., has been selected by Novartis, a global pharmaceutical leader, as a global digital health collaborator for its Trials of The Future programme. Qualcomm Life’s 2net Platform will serve as a global connectivity platform for collecting and aggregating medical device data during clinical trials to improve the convenience and speed of capturing study participant data and test results to ultimately gain more trial efficiencies and connected experiences for participants.

The Trials of The Future programme is designed to leverage health care technology to improve the experience of clinical trial participants and patients using Novartis products, and provide connectivity with future products marketed by Novartis. Novartis will combine the 2net Platform, 2net Hub and 2net Mobile technologies with designated medical devices to automate the collection of vital patient data at patient’s homes during clinical trials.

“Novartis is a pioneer in putting technology to use in advancing pharmaceutical innovation,” said Rick Valencia, senior vice president and general manager, Qualcomm Life. “Standardising on the tech-agnostic 2net Platform and accessing the robust ecosystem of integrated medical devices will provide them a great range of flexibility and scalability, ultimately accelerating their efforts to design more efficient, cost-effective clinical trials.”

Catamaran acquires Florida-based Salveo Specialty Pharmacy

Catamaran Corp., a leading provider of pharmacy benefit management services and technology solutions, has completed acquisition of Salveo Specialty Pharmacy, for a purchase price of $260 million in cash, subject to certain customary post-closing adjustments. The purchase price was funded from Catamaran's existing cash balance.

"This reaffirms our commitment to grow our specialty pharmacy capabilities," said Mark Thierer, chairman and CEO of Catamaran. "Salveo and BriovaRx are highly complementary to each other and the combination presents a great opportunity to further expand our specialty scale."

Salveo Specialty Pharmacy is an independent specialty pharmacy company headquartered in St. Petersburg, Florida, with business operations in New York (Echo Salveo Specialty Pharmacy) and California (Mission Road Pharmacy). Salveo manages approximately $400 million in annual drug spend.

Blood banks provide plasma to sustain limited supply of human albumin in city

Even as there is acute shortage for human albumin across the country, Mumbai-based blood banks are providing the vital blood component called plasma required to manufacture albumin on a sustainable basis.

Though Reliance Life Sciences is awaiting central government's approval on imports of plasma required for its production on a large scale, official sources inform that Reliance is currently supplying human albumin under its brand Albu Rel to limited hospitals based on the demand.

Plasma separated from whole blood is fractionated to produce many useful life-saving components such as Factor VIII, fibrinogen, albumin, and gamma globulin. India now imports every year fractionated components valued at more than Rs.50 crore.

According to stockists, human albumin is currently scarcely available with prices ranging between Rs.3897 and Rs.4092 respectively. Pharmaceutical companies like Reliance, Intas, Bharat Serums and Baxter were major manufacturers and suppliers of albumin in Indian markets. After slashing of prices by the NPPA, they have stopped supply to domestic markets.

The price of one ml albumin injection of 20 per cent has been capped up to Rs.36. 66 after being brought under Drug Price Control Order (DPCO) -2013 issued by the National Pharmaceutical Pricing Authority (NPPA). Albumin is an essential life-saving drug which should be priced reasonably, according to NPPA.

Daiichi Sankyo receives Japanese approval for methylene blue injection 50 mg

Daiichi Sankyo Company,  a global pharmaceutical company,  has received approval in Japan for the manufacture and marketing of the methemoglobinemia treatment, methylene blue injection 50 mg (methylthioninium chloride hydrate) for toxic methemoglobinemia.

Toxic methemoglobinemia is a toxic disorder in which the methemoglobin concentration in the blood is elevated due to various substances found in drugs, pesticides, etc., causing symptoms such as cyanosis, headache, dizziness, shortness of breath, and loss of consciousness.

Methylene blue is one of the agents publicly offered for development by the Review Committee on Unapproved Drugs and Indications with High Medical Needs), set up by the Ministry of Health, Labour and Welfare (MHLW). Daiichi Sankyo acquired sole development and marketing rights for Japan from Provepharm SAS before developing Methylene Blue. In March 2014, Daiichi Sankyo filed an NDA for the manufacture and marketing in Japan for the indication. Daiichi Sankyo received a grant from Pharmaceutical Development Support Center for the development.

In order to collect data on both the safety and efficacy of Methylene Blue, Daiichi Sankyo will conduct a drug use-results survey covering all patients treated with the product during a certain period following its launch.