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Companies are facing massive losses as unsold COVID drugs rack up

May 6, 2022
During the two years of the pandemic, sales of the Covid-19 portfolio of drugs skyrocketed, resulting in severe shortages at times. However, the industry is now saddled with a massive inventory of raw materials and medicines used in Covid-19, as well as potential losses and write-offs in the hundreds of crores.

Pfizer’s first drug development lab in Asia opens in Chennai

May 6, 2022
Pfizer, a US pharmaceutical company, has established a global drug development centre at the Indian Institute of Technology-Madras Research Park here, at a cost of more than Rs 150 crore. The facility, which will employ 250 scientists and technicians, will create novel formulations, small molecules, and active pharmaceutical ingredients (APIs).

Britain approves Moderna’s COVID shot for 6-11 year-olds

April 16, 2022
The UK's drugs authority approved the use of Moderna's COVID-19 vaccination in children aged six to eleven years old on Thursday, as the country prepares to combat coronavirus infections in the face of the proliferation of new virus strains.

Greece relaxes COVID regulations for the summer tourism season

April 16, 2022
Greece announced on Wednesday that pandemic restrictions such as wearing masks indoors and obtaining COVID certificates will be lifted during the summer tourism season, with authorities considering reinstating them in September.

India believes ‘pharma city’ in Hyderabad will break China’s grip on the industry

April 14, 2022
On the edge of Hyderabad in southern India, a vast patch of arid shrub-land the size of about 14,000 football fields is becoming a testing ground for a model that could help wean the world off its dependence on Chinese drug ingredients.

Gavi secures $4.8 billion in financial promises for the Covax project

April 14, 2022
Covax has delivered 1.42 billion doses to 145 countries. Scaling up deliveries through Covax is seen as critical to meeting a WHO target to vaccinate 70% of the population in poorer nations by mid-2022

Covaxin booster enhances antibody response against Covid variants including Omicron: Study

April 12, 2022
The government on Saturday announced that precaution dose of COVID-19 vaccines will be available to all aged above 18 years at private vaccination centers from April 10

Drugmaker GSK cuts ties with Russia government over Ukraine crisis

April 12, 2022
The Ukraine crisis is in its second month and the West has tightened restrictions on Moscow, but healthcare companies have not pulled out of Russia, with medical products excluded from sanctions

Mankind Pharma makes a move into the Agri-tech sector

April 9, 2022
Mankind Pharma is planning to invest up to Rs 200 crore in the first two to three years in the agri-tech sector. Mankind Agritech Pvt Ltd, a new division of the corporation, will provide Indian farmers with a variety of crop care products, including weedicides, insecticides, fungicides, plant growth regulators, and biologicals.

Aurobindo Pharma acquires Veritaz for Rs 171 crore in order to enter the domestic formulation business

March 29, 2022
Drug maker Aurobindo Pharma on Monday said it has acquired the domestic formulations business of Veritaz for Rs 171 crore on debt free and cash-free basis. This acquisition vehicle will greatly help Aurobindo as a launch pad for marketing biosimilar and other products in India, the company said in a statement. The transaction comes into effect from April 1, 2022 and is expected to by May 2022, the company said.