European Commission authorises GSK's HIV prevention drug
Cabotegravir is recommended in combination with safer sex practices for pre-exposure prophylaxis (PrEP) to reduce the risk of sexually-acquired HIV-1 infection in high-risk adults and adolescents weighing at least 35 kilogrammes, according to the company.
He has over 30 years of global experience in strategic and operational leadership, including at board, CEO and senior corporate levels. He served as CEO and on the Board of Syngene International Ltd, a subsidiary of the company, for almost 6 years from 2010, and led the company to its successful public listing in 2015, Biocon said.
SC dismisses plea against GlaxoSmithKline pharma for deficiency in service
A bench of Justices A S Bopanna and Prashant Kumar Mishra said the drug is made available in the market after certification and nothing has been placed on record to indicate that this is a drug which was available "of the shelf", without prescription.
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.
Sumitomo Chemical, Timken India among 10 stocks with RSI trending down
In this article, we explore the Relative Strength Index (RSI) and its significance in assessing stock movements. On August 7, StockEdge reported that 27 stocks experienced a downtrend in RSI. ETMarkets handpicked 10 of these stocks for closer analysis
Biocon Biologics announces top leadership appointments
Biocon Biologics Ltd has made several key leadership appointments, including appointing Rhonda Duffy as Chief Operating Officer and Sandeep Athalye as Chief Development Officer. The subsidiary of Biocon Ltd has also hired David Gibson as Global Head - Business Development, who will lead all licensing, strategic partnering, and business development activities.
HCL Tech, Nykaa and 8 other counters cross 20-day SMA
The stock market witnessed notable movements as several stocks surged above their 20-day Simple Moving Average (SMA) on 1st August 2023, indicating bullish momentum. Investors are closely observing these stocks for potential investment opportunities in the market
GlaxoSmithKline Pharma Q1 Results: Net profit rises 11% to Rs 132 cr
Despite the strong external headwinds, GSK remains focused on delivering best-in-class competitive performance and driving operational efficiencies. We remain committed to explore new growth opportunities and improving our leadership in key therapy areas," GlaxoSmithKline Pharmaceuticals MD Bhushan Akshikar said.
GSK India net profit grows 13% to Rs 131 crore in Q1FY24
GlaxoSmithKline Pharmaceuticals (GSK India) on Wednesday reported 13% year-on-year (YoY) jump of net profit to Rs 131 crore for the quarter ended June 2023 led by robust volumes, price hikes and recovery of its vaccine business. The said it maintained its gross margins despite the National List of Essential Medicines (NLEM) impact, while EBITDA margins declined 1% to 19.1% on account of new product launch investments led by Shingrix.
Health experts bat for adult vaccination programmes in India
Doctors and health experts have stressed that people, especially those above 50 years, must receive the recommended vaccines, shining light on the ignorance or scant knowledge regarding adult vaccination in India. Vaccines have a significant impact on overall health, they said, expressing concern regarding the poor status of adult vaccination in India. Vaccination can prevent over 95 per cent of deaths caused by vaccine-preventable diseases in the country.
HDFC Bank, Tata Power among 10 stocks with RSI trending up
When the RSI is above 70, it is considered overbought, indicating that the stock may be due for a correction or price pullback. Conversely, when the RSI is below 30, it is considered oversold, suggesting that the stock may be undervalued and due for a potential rebound.
The company behind the Sensodyne toothpaste and Advil painkillers was spun off from GSK last year and has more than 24,000 staff globally. Staff were informed about the redundancies this week in a series of meetings and a consultation process, which started on Wednesday, would close on Aug. 25, the report said.
Quadria Capital plans ₹1.3k cr invesment in Maxivision Eye hospital
Founded in 1996 by renowned ophthalmologist Kasu Prasad Reddy, Maxivision was subsequently acquired by GSK Velu in 2010.Maxivision operates 42 centres in five states across South and West India, with a leadership position in Andhra Pradesh and Telangana. The company offers a full suite of eye care services, including cataract surgery, LASIK and ReLEx Smile treatments, treatments for retinal issues and glaucoma, oculoplasty, as well as neonatal and paediatric eye care.
Quadria Capital to invest up to Rs 1,300 cr in GSK Velu's Maxivision Eye Hospital
Quadria will make an initial investment of around Rs 600 crore for a significant minority stake and a further investment of up to Rs700 crore for additional stake, to support Maxivisions growth, particularly in tier-2 and tier-3 cities.
Samsung Biologics unveils $897 mln manufacturing deals for Pfizer
South Korea's Samsung Biologics announced on Tuesday two deals with Pfizer worth a combined $897 million to manufacture products for the U.S. pharmaceutical giant. The latest orders bring this year's combined tally of orders from Pfizer to $1.08 billion, Samsung Biologics said in a statement.
Sanofi says it's back to the drawing board on mRNA flu vaccines
Sanofi, one of the top global vaccine makers, has stated that the current mRNA technology used in COVID-19 vaccines is not effective against influenza. The company is working on a next-generation flu shot based on mRNA, which showed a strong immune response against A strains but not against less prevalent B strains. Sanofi aims to upgrade the technology to improve the immune response against B strains and enhance the durability of the vaccine at normal fridge temperatures.
Ahmedabad-based pharmaceutical company CORONA Remedies has acquired the muscle relaxant brand Myoril from Sanofi India for Rs234 crore. The acquisition includes Myoril and its extensions. This acquisition comes after Corona's previous acquisitions of drug brands from GlaxoSmithKline and Abbott India. Myoril, with annual sales of Rs38 crore and a growth rate of 6.8%, will strengthen Corona's presence in the growing muscle relaxant market in India, which is valued at Rs1,626 crore.
40 Under Forty: India’s brightest young business leaders
This year, as we continue the journey towards a decade, Startup India remains firmly in focus, in keeping with the countrys standing as the worlds third largest startup ecosystem, and aspiring to be Number 1.
European shares post worst week in three months, Siemens Energy slumps
European shares closed lower on Friday amid concerns of higher interest rates and inflation, prompted by central bank policy decisions throughout the week. The STOXX 600 index fell 0.3%, with the index having lost 2.9% for the week, its worst weekly performance in over three months. Siemens Energy's shares plummeted 37.3% after the company withdrew its annual profit outlook, citing quality problems at its Siemens Gamesa wind turbine unit. The basic resources index fell for the seventh straight session, posting weekly declines of 7.9%, the worst performer of the week. GSK's shares rose 4.9% after it reached a confidential settlement in a US litigation.