Medikabazaar secures US$75 million series C funding

INDIA – Healthtech startup Medikabazaar has announced a 75 million USD investment in a series C round led by PE fund CREAEGIS, the UK’s development finance institution CDC Group, and other existing investors. The round brought together existing investors, including Belgium-based Ackermans & van Haaren (AvH), HealthQuad Advisors, Japan-based Rebright Partners, Continental Europe-based Kois Holdings, and Sumitomo Mitsui Financial Group. UK-based CDC Group is the largest investor in this round which infused Rs 131.3 crore followed by Creaegis Limited, CIF and HealthQuad Fund who invested Rs 106.8 crore, Rs 58.2…

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India’s booming domestic pharma market expands 18%

INDIA – India’s domestic pharma market has registered a robust growth of nearly 18 percent. The country was hit by a devastating second wave of the COVID-19 pandemic and moved swiftly to vaccinate a majority of its population. According to India Ratings and Research (Ind-Ra), the 18 percent year-on-year revenue growth in India’s pharmaceutical market (IPM) in August was driven by improved sales in the non-covid product portfolio, while sales traction in the covid products remained stable. The COVID-19 influence portfolio contributed 37 percent to IPM for July 2021 moving…

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India reports over 30 thousand new Covid cases as positivity rate reaches lowest point

INDIA – In a sigh of relief, the Union Health Ministry has reported that the active COVID-19 infections have declined by 1,478 in the last 24 hours, bringing the active caseload to 31,923, the lowest in just over six months. With this, the total number of infections registered in the country has hit 33,594,803. The total number of deaths has risen to 446,368, with 282 new fatalities recorded in the last 24 hours, the Health Ministry said in a statement. The active cases account for 0.90 percent of total infections,…

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Deadly African swine flu creeps into Tripura amid Covid-19 pandemic

INDIA – Despite the fact that the Northeast is dealing with the Covid-19 pandemic, fresh outbreaks of the African Swine Flu has been reported in the district of Tripura, where a large number of pigs have died in the government farm in Kachanpur. ` This deadly outbreak comes shortly after the swine flu ravished pigs in the neighboring Mizoram state. Mizoram has been battling both COVID-19 pandemic and African swine fever since March this year, which has so far killed 28,000 pigs in all the state’s 11 districts making the…

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India’s vaccine giant invests US $68 million to gain 3.9% stake in UK’s Oxford Biomedica

INDIA – The Serum Institute of India (SII) is set to invest more than US $68.2 million in Oxford Biomedica plc, a biotech group based in the United Kingdom, to fund construction of a facility that will manufacture COVID-19 vaccines. The British biotech firm has announced an investment from world’s largest Coronavirus (COVID-19) vaccine manufacturer by volume. The biotech company anticipates receiving an investment from SII of just over US $68 million, which will be used to fund the development of Oxbox, its 84,000 square foot manufacturing facility in Oxford.…

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India’s fight against COVID-19 receives boost from J&J’s single-shot vaccine

INDIA- India expects to receive its first doses of Johnson & Johnson COVID-19 vaccine filled and finished in the country by American drugmaker’s partner Biological E. Last month, India’s drug regulator granted emergency approval to the J&J vaccine, whether imported or locally filled and finished by J&J’s Indian partner, Biological E. The Asian nation could receive up to 43.5 million doses of the single-shot vaccine in October, which would be a significant step toward helping India meet its target of producing more than 300 million doses in the month. Based…

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Cadila sells two of its brands as Glenmark bags USFDA nod for generic antibiotic cream

INDIA – Cadila Healthcare has announced that its subsidiary has inked a pact with Integrace Private Limited to sell two brands, Mifegest and Cytolog at an undisclosed amount. Zydus Healthcare Ltd, a wholly-owned subsidiary of the company, has inked the agreement with Integrace, a part of the portfolio companies of private equity firm True North. “The said transaction is expected to be completed within 30 days from the date of execution of agreement, subject to customary approvals,” Cadila Healthcare said in a regulatory filing. Meanwhile, Cadila’s competitors Glenmark Pharmaceuticals has…

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Lincoln Pharma acquires plant for making pneumonia, bronchitis antibiotics

INDIA – Indian drug maker Lincoln Pharmaceuticals Limited has acquired a facility in Mehsana state in India that makes antibiotics used in the treatment of pneumonia and bronchitis, among other ailments. The acquisition along with capacity expansion and modernization entails an investment of US$4.07 million (Rs 30 crore) which Lincoln Pharma will fund through internal accruals. The plant will manufacture Cephalosporin products which is a bactericidal, broad-spectrum, and β-lactam antibiotic originally derived from fungus Acremonium. To be manufactured in tablet, capsule, dry syrup and injectable forms, Cephalosporin is used to…

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Increase in local vaccine production prompts India to resume exports

INDIA – Indian government officials have announced that the nation will resume COVID-19 vaccines exports next month, a move likely to help developing nations that have struggled to vaccinate their populations after the Asian nation halted overseas shipments. India’s health minister Mansukh Mandaviya, said that the vaccines production will likely increase in the coming weeks and would help fulfill the nations commitment to COVAX- a United Nations-backed vaccine sharing initiative. He said that India will produce over 300 million vaccine doses in October and hit a target of at least…

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Zydus Cadila gets US-FDA nod for antidepressant drug

INDIA – Zydus Cadila received final approval from the US Food Drug Administration to sell new generation anti-depressant Vortioxetine in the strengths of 5 mg, 10 mg, 20 mg in US market. The drug was first approved around seven years ago, and was developed by Denmark-based pharmaceuticals maker Lundbeck in the late 2000s. Vortioxetine works by increasing serotonin in the brain by preventing the elimination and reuptake of seratonin in the brain, and is classified as a selective serotonin reuptake inhibitor and serotonin receptor modulator. Zydus has been on a…

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