GSK
Kotak Pre-IPO fund to buy into diagnostic chain Neuberg
Kotak Pre IPO Opportunities Fund is in advanced talks to acquire a 15% stake in Neuberg Diagnostics for approximately Rs 450 crore. Neuberg's chairman, GSK Velu, plans to use the funds for acquisitions and expansion before a potential IPO next year. The diagnostics chain operates in multiple countries and processes millions of patient samples annually.
Abbott launches 14-valent pneumococcal vaccine for children in India
Abbott India launched PneumoShield 14, a pneumonia vaccine for children aged six weeks and older. This vaccine offers broader protection than existing vaccines by covering 14 pneumococcal strains, addressing infections like pneumonia and meningitis.
Robert F. Kennedy Jr: Trump's biggest anti-establishment bombshell?
President-elect Donald Trump has selected Robert F. Kennedy Jr., a prominent vaccine skeptic, to lead the Department of Health and Human Services. The controversial pick has alarmed public health officials and sent ripples through the pharmaceutical industry, causing stock prices of major vaccine manufacturers to plummet.
European shares fall ahead of key data, US election jitters
The pan-European STOXX 600 dropped 0.5% to 515.25 points by 0810 GMT, weighed down by luxury stocks. Britain's FTSE 100 fell 0.5%.
Stocks in news: L&T, Tata Power, Dabur, Marico, Torrent Pharma
Shares of Torrent Pharmaceuticals are expected to remain in focus on Wednesday as the company's promoter could sell 2.9% stake worth Rs 3,000 crore via block deal.
GSK Pharma to expand into oncology, focus on adult vaccines in India
GlaxoSmithKline Pharma is shifting focus to specialty treatments and preventive healthcare, emphasizing adult vaccines and oncology in India. The company plans to innovate through new therapies and vaccines, maintaining competitive pricing, and aligning its portfolio with a global biopharma focus to enhance healthcare.
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Bombay HC dismisses HUL's plea for relief against TDS demand worth over Rs 963 crore
The Bombay High Court has dismissed Hindustan Unilever Limited's Writ Petition regarding a demand of INR 962.75 Crores by the Income Tax Authorities for non-deduction of TDS. The court allowed HUL to file a stay application within 15 days and advised the Department not to enforce recovery pending its disposal.
Vaccine maker Moderna forecasts lower sales next year, shares tumble 17% to near four-year low
Moderna has delayed its break-even goal by two years, pushing it to 2028, due to slower regulatory processes for key products like flu and cancer vaccines. The company expects lower sales in 2025 compared to this year and plans cost-saving measures, including cuts in research and development.
Stocks in news: General Insurance Corp, ONGC, SpiceJet, GSK Pharma, Cipla
Stocks in news: Domestic markets remained steady with minor changes, continuing a gradual uptrend. Key stocks in focus include General Insurance Corp, ONGC, SpiceJet, GSK Pharma, and Cipla due to various developments. Notable updates include the government's stake sale in General Insurance Corp and ONGC's potential refinery project.
Fairfax, Bain look to buy Gujarat API company Farmson
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 of ?1,750 crore in FY24. The company's concentrated focus on paracetamol production is a strength, but limited R&D poses challenges for diversification.
Domestic pharmaceutical retail market grows 11 per cent in July
The domestic pharmaceutical retail market saw an impressive 11% growth in July, attributed to increased sales of anti-infectives and pain relief due to rising flu and viral infections. Antibiotic Augmentin led sales at Rs 72 crore and topped the charts. Overall market valued at Rs 2,22,906 crore, showing 7 per cent growth in June. Sun Pharma maintained a top position, with Indian companies growing at 11.4 per cent and MNCs at 10.2 per cent in July. Analysts predict a 10 per cent growth driven by demand for acute therapies like anti-infectives.
GSK gets restraining order against Elder Laboratories
GSK approached the high court against Elder Laboratories early this year for alleged infringement of trademark, including usage of identical product names, trademarks and packaging. GSK issued several notices to Elder before approaching the court seeking a restraining order.
As monsoon sets in, respiratory, malaria drugs see demand rise
The onset of the monsoon in June led to a significant increase in sales of drugs for respiratory, anti-infective, anti-malaria, and gastrointestinal therapies. According to market researcher Pharmarack, these therapies saw double-digit growth compared to June 2023.
XDefiant Season 1: See details about release date, new maps and Capture the Flag mode
XDefiant Season 1 launches on July 2, 2024, introducing new maps, a GSK Faction, a 90-tier Battle Pass and Ranked Play. This season continues the momentum from the game's preseason content.
GSK blood cancer drug nearly halves risk of death in late-stage trial
In the trial of 302 patients with relapsed or difficult-to-treat multiple myeloma, 71% of those who received Blenrep in combination with the steroid dexamethasone and pomalidomide were alive without their disease worsening at the end of a year. That compared with progression-free survival (PFS) of 51% of those who were treated with pomalidomide, dexamethasone and bortezomib. Pomalidomide is a generic version of Bristol Myers Squibb's Pomalyst, while bortezomib is the generic of Takeda Pharmaceuticals' Velcade.
2 top stock picks from Foram Parekh for near term
?So, now 31% margin for Divi¡¯s is a good thing as against the lower margin what it used to clock. And going forward, this kind of margins are sustainable because custom synthesis business is doing good and they also have good order pipeline.
GSK Pharma Q4 Results: Net profit rises 46% YoY at Rs 194.48 crore
?? The company had posted a net profit of Rs 133.43 crore in the corresponding quarter of the previous fiscal, GlaxoSmithKline Pharmaceuticals (GSK Pharma) said in a regulatory filing.
GSK raises $1.5 billion from sale of remaining Haleon stake
British drugmaker GSK has raised 1.25 billion pounds ($1.52 billion) from a sale of its remaining stake in consumer healthcare company Haleon to institutional investors.
GSK intends to sell its remaining stake in Haleon
GSK, which initially retained a near 13% stake in Haleon, had over the course of a year lowered its stake to 4.2%. Last year, GSK had said that the Haleon spin-off and subsequent stake sales would allow the company to sharpen its focus on vaccines and infectious diseases and fund deals to bolster a lacklustre drug pipeline.
Amazon to invest $1.3 billion in France, create 3,000 jobs
Amazon's 1.2 billion euros investment in France to create 3,000 jobs, enhance cloud infrastructure for GenAI, support AI startups, and research centers. Plans to expand logistics network for faster, eco-friendly delivery.
India becoming attractive for clinical trials, says pharma industry leaders
Over the past decade, India has seen significant improvements in its clinical trial landscape, with a 15-18% growth in phase two and three trials. This growth is attributed to 10 modifications to the Drugs and Cosmetics Act since 2013, aimed at simplifying the process. Despite these advancements, conducting trials in India can still be challenging. Experts note that India's modernizing private hospital networks and improved infrastructure make it an attractive location for trials, with potential for further growth and collaboration in the future.
Neuberg Diagnostics plans to raise $100 million to fund acquisitions
Neuberg, which runs a pan-India diagnostic chain, has appointed O3 Capital as the investment banker and is currently in talks with potential investors, Velu said in an interview. The Chennai-based company plans to use the fresh capital to expand its radiology business through acquisitions, chairman GSK Velu said.
GSK CEO Emma Walmsley's total pay rises 51% to nearly 13 mln pounds in 2023
GSK CEO Emma Walmsley's total remuneration rose 51% to 12.7 million pounds ($16 million) in 2023, driven by a significant increase in performance-related pay. She played a key role in sharpening GSK's focus on vaccines and infectious diseases amidst upcoming challenges. AstraZeneca's top boss Pascal Soriot's 2023 remuneration was higher at 16.9 million pounds.
GSK settles another lawsuit on heartburn drug Zantac in California
GSK settled a lawsuit in California over its heartburn drug Zantac causing cancer. Thousands of lawsuits are still pending in California and Delaware. The FDA removed Zantac from the market, resulting in a wave of lawsuits. Analysts estimate GSK's total settlement costs at around $5 billion.
IIL launches first indigenous Hepatitis A vaccine
Priced at ?2,150 per dose, it is a two-dose vaccine in which the first dose is administered at above 12 months of age and the second dose is given at least after 6 months of the first dose. The vaccine is also recommended for individuals who are at risk of exposure or travel to the regions with high hepatitis A prevalence. In addition to this people with occupational risk of infection and suffering from chronic liver diseases also need Hepatitis A vaccination.
GSK boosts respiratory portfolio with $1.4 bn Aiolos Bio deal
GSK will pay $1 billion upfront and up to $400 million in certain success-based regulatory milestone payments. It will also make milestone payments as well as pay tiered royalties to China's Hengrui Pharma, which licensed the asthma therapy to Aiolos.
GSK's Augmentin is India's no.1 drug brand
Research firm PharmaTrac data shows Augmentin sales at Rs 801 crore from November 2022-23. For the month of November, Augmentin sales stood at Rs 75 crore. It has shown a moving annual total (MAT) growth growth of 12.3%. As per the data, Glycomet GP sales stood at Rs 774 crore from same period and the sales for November stood at Rs 64 crore. It has shown a MAT growth of 7.5%.
MNC pharma body OPPI appoints Anil Matai as new director general
The Organisation of Pharmaceutical Producers of India (OPPI) has appointed Anil Matai as its director general. Matai has extensive experience in the pharmaceutical industry, having worked with companies such as Novartis India, GSK India, and Global Pharma. He has also served on the boards of several healthcare companies.
Eye care industry at inflection point, boom in M&A activity likely
The M&A boom could witness the emergence of four or more large players who could collectively own over 2000 eye hospitals in the next five years with a national footprint. As much as half of their expansion could come through acquisitions, as per industry watchers.
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