Tag: drug

Shares of Glenmark Pharma surged over 5 percent to a high of Rs 421 in an otherwise sluggish market, after the drug maker reported steady earnings for the quarter that ended December 2022. Glenmark Pharmaceuticals Ltd on Friday reported a 21.3 percent rise in consolidated profit after tax at ₹290.8 crores for the third quarter ended December 31, 2022. as against Rs 240 crore in the corresponding quarter a year ago. In the December quarter, total revenue stood at Rs 3,463.8 crore during the period under review, up 9.2 percent against Rs 3,173.4 crore in the corresponding period of the preceding fiscal. The company had a one-time gain of Rs 34 crore in Q3, which is a net gain from the sale of its cardiac brand—Razel's India—and Nepal business, against the remediation cost of the company's Monroe manufacturing site in the U.S. Read more

Share of Natco Pharma rose 20 per cent to hit a fresh 52-week high of Rs 1188.95 in early tradeafter the Drug Controller General of India (DCGI) gave its nod to the firm to start manufacturing antifungal drug Amphotericin B liposomal injection, which is critical in the treatment of Mucormycosis, also called 'Black Fungus'. Also the company initiated phase III clinical trial to evaluate the efficacy and safety of Molnupiravir capsules in mild COVID-19 patients in India.The first dose under the phase-III trials was given to a patient in the city-based Yashoda Hospitals, the Hyderabad-based firm said in a regulatory filing. Meanwhile the company said it has received approval from the US health regulator for the generic version of Celgene's multiple myeloma drug, Revlimid (Lenalidomide) capsules in US. Lenalidomide capsule is indicated for treatment of adults with multiple myeloma, mantle cell lymphoma and myelodysplastic syndromes. Read more

Shares of Aarti Drugs were up 6 per cent at Rs 708 on the BSE in intra-day trade on Tuesday after the pharmaceutical company said its board will consider share buyback on Friday, March 19. A meeting of the Board of Directors of the company is scheduled to be held on Friday, March 19, 2021, to consider the proposal of buyback of the fully paid-up equity shares of the company, Aarti Drugs said in a regulatory filing. The pharma stock has risen 432% in one year but lost 2.12% since the beginning of this year. The market cap of the firm rose to Rs 6,432 crore on BSE. The firm reported a 144.92% rise in Q3 net profit to Rs 68.04 crore against Rs 27.78 crore profit in the corresponding quarter of the previous fiscal. Read more

Mumbai-based Drug producer Sun Pharmaceutical Industries reported a 70.4 per cent jump in net profit at Rs 1,812.79 crore for the quarter ended September driven by operating performance and tax credit. It had reported a net profit of Rs 1,064.09 crore in the same quarter a year ago. Analysts had projected the profit figure of Rs 1,194 crore. Revenue rose 5.3% to ₹8,550 crores compared to the year-ago period, according to a filing on Tuesday. Earnings before interest, tax, depreciation and amortization (EBITDA) climbed 22.5 per cent YoY to Rs 2,193.3 crore as compared to last year's Rs 1,789.7 crore. The company said there was an exceptional tax gain for the quarter due to creation of a deferred tax asset amounting to Rs 288.28 crore, arising out of a subsequent measurement attributable to restructuring of an acquired entity. Read more

Shares of Aarti Drugs gained as much as 20 per cent to a lifetime high of Rs 2892 on the BSE on Thursday after the company's board approved issuing 3 bonus equity shares for every one fully paid-up equity share held.i.e 3:1.The company will intimate the “Record Date” for determining eligible Shareholders entitled to receive Bonus Shares in due course, it added."The Board of Directors has approved Increase in the authorized share capital of the Company from Rs. 25,00,00,000/- to Rs. 120,00,00,000/- by creation of additional 9,50,00,000 Equity Shares of Rs. 10/- and the issuance of fully paid up Bonus Share in the ratio of 3:1," the company said in a filing to exchanges today. The company has delivered a good set of numbers for the June quarter, even as Covid-19 pandemic disrupted economic activity across the globe. Aarti Drug’s net profit rose 281 per cent to Rs 85.45 crore in the quarter ended June while sales rose 34 per cent to Rs 544.67 crore in the quarter from a year ago.

Shares of Bengaluru-based Biocon gained almost 7 per cent intraday on July 14 after the company said it will launch biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients on the basis of its clinical trials done on 30 patients across four centres. The price band will be around Rs 8,000 per vial. Itolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe Covid-19 complications and has been used since 2013 for the treatment of patients with moderate to severe chronic plaque psoriasis under the brand name Alzumab, the health ministry said. The company has received approval from the Drugs Controller General of India (DCGI) to market Itolizumab injection 25mg/5mL solution for emergency use in India for treating patients with cytokine storm.Itolizumab will be manufactured and formulated as an intravenous injection at Biocon’s bio-manufacturing facility at Biocon Park, Bengaluru.

Shares of Mumbai-based firm Glenmark Pharmaceuticals gained 40 per cent to Rs 572.7 in the intra-day trade on the BSE on Monday after the company on Saturday said it has launched antiviral drug Favipiravir, under the brand name FabiFlu, for the treatment of patients with mild to moderate Covid-19. Glenmark Pharmaceuticals has become the first Indian company to commercially launch an antiviral drug. The stock has surged over 172 per cent in the last three months, The price range of Favipiravir is at Rs 103 per tablet. The drug will be available as a 200 mg tablet at an MRP of Rs 3,500 for a strip of 34 tablets. It is a prescription-based medication, with the recommended dose being 1,800 mg twice daily on day 1, followed by 800 mg twice daily up to day 14. It offers rapid reduction in viral load within four days and provides faster symptomatic and radiological improvement. Favipiravir has shown clinical improvement of up to 88 per cent in mild to moderate Covid-19 cases. Read more

Glenmark Pharmaceuticals shares rallied 9 percent to Rs 359 on the BSE today 30th April 2020) after the company announced that it has received approval from the regulator DCGI (Drug Controller General of India) to conduct clinical trials on Favipiravir Antiviral tablets for COVID-19 patients. The product is a generic version of Avigan of Fujifilm Toyama Chemical, Japan. Glenmark is the first pharmaceutical company in India to be given approval by the regulator to start the trial on COVID-19 patients in India, the company said in a press release. At 09:16 am, the stock was trading 6 percent higher at Rs 350 on the BSE, against a 2 percent rise in the S&P BSE Sensex. Around 740,000 shares have changed hands on the counter the BSE and NSE so far.

A government committee has identified various essential drugs including key antibiotics such as amoxicillin, moxifloxacin, doxycycline and TB drug rifampicin that could run out as supplies of bulk raw materials from China have been disrupted because of Covid-19 outbreak. A high-level government committee, which submitted its report to the Department of Pharmaceuticals (DoP) last week, reviewed 54 drugs and said that out of these, 34 have no alternative.