API

Mumbai-based PharmEasy, operated by API Holdings Limited, reported a net loss of Rs 2,533 crore, an improvement from the Rs 5,212 crore loss in FY23, driven by a reduction in goodwill impairment charges to Rs 582 crore from Rs 2,826 crore in FY23.

Yes Bank has partnered with Vegapay to launch a new platform called 'Credit Line on UPI'. This platform will allow YES Bank to offer customised credit programs to its customers through UPI. The platform is expected to help bridge the credit gap in I...

Nokia acquired Rapid, the world's largest API hub and marketplace. The Finnish company aims to increase revenue from its 4G and 5G networks. Nokia seeks to capitalize on the growth of artificial intelligence. The deal grants Nokia ownership of Rapid...

Suven Pharmaceuticals and Cohance Lifesciences plan to merge and aim to double their revenue to Rs 6,000 crore by FY29 through organic and inorganic growth. The merger has received NSE and BSE approvals, with a shareholders meeting scheduled for Nov...

The Delhi government will introduce an automated system for paying traffic fines via WhatsApp. Vehicle owners will receive details of violations and fines directly on WhatsApp. Payments can be made using popular UPI apps. This new system aims to str...

NPCI has shot off a letter to banks and fintechs asking them to refrain from using the UPI system for any form of service other than payment settlements and account validation. Fintech startups use the UPI ID to find out the name of the customer, th...

Ericsson's India R&D centers are increasing their work on network APIs to leverage 5G for developers. The plan includes utilizing AI, Gen AI, and APIs to support new use cases like device management and fraud detection. Ericsson partners with major ...

Crypto All-Stars ($STARS) has gained attention in the emerging small-cap crypto market with its multichain staking protocol, MemeVault. The presale of $STARS surged past $2 million, and top influencers forecast promising trajectories. BTC's resurgen...

Mumbai-based EPS is backed by investors like the UK's Apis Partners and Dutch Entrepreneurial Development Bank FMO. The licence has made it the country's fifth white-label ATM operator alongside Tata Communications Payment Solutions, India1 Payments...

Aditya Sood of InCred Asset Management discusses a 'buy-on-dips' strategy for investors, emphasizing sectoral rotation and highlighting potential in consumer staples, durables, and QSR companies. He advises being bullish on largecaps due to their cu...

Biocon shares fell 2% to Rs 361.5 after the USFDA issued four observations following an inspection of its Bengaluru API facility. The company will address these within the stipulated time and does not foresee any material impact on business operatio...

The Bombay High Court questioned the police's decision to shoot the Baldapur sexual assault accused in the head. The court noted that the officer involved was trained and should have aimed at less lethal areas like the legs or hands. The judges expr...

India is striving to reduce its dependency on China for pharmaceutical raw materials by promoting domestic production through a Production-Linked Incentive scheme. Companies like Kinvan and Aurobindo Pharma are stepping up to produce essential compo...

India has begun producing clavulanic acid, a key ingredient in the antibiotic Augmentin, reducing its reliance on China for APIs. Mumbai-based Kinvan is leading this initiative, with plans to scale up production to 300 metric tons by the end of the ...

Canadian billionaire Prem Watsa's Fairfax Group and Bain Capital are in competition for a buyout of Farmson Basic Drugs, a leading API maker in India valued at ?4,000 crore. Founded in 1969, Farmson is a major paracetamol manufacturer with a revenue...

The revenue of domestic active pharmaceutical ingredients (API) producers in India is projected to grow by 7-8% annually by 2029, according to a report by ICRA. The rating agency estimates that revenues will increase from USD 13-14 billion in 2023, ...

India manufactures APIs for over 400 FDA-approved orphan drugs, but patients face high costs due to Indian pharmaceutical companies' reluctance to develop these drugs domestically.

Kotak Alternate Asset Managers Ltd invested Rs 1,445 crore in Matrix Pharma for acquiring Vaitris' API business, making Matrix the 2nd largest Indian API player with global leadership in ARV APIs.

The US Food and Drug Administration (FDA) completes inspection of Solara Active Pharma Sciences' API manufacturing facility in Visakhapatnam, Andhra Pradesh, with no observations. Solara confirms compliance with FDA standards. The facility, dedicate...