The current market size of the medical devices sector in India is estimated to be $11 billion and its share in the global medical device market is estimated to be 1.5 per cent.
The malaria vaccine was designed at the Jenner Institute, University of Oxford, which collaborated with the SII in 2020 to manufacture and develop the jab for large- scale supply, the sources said.
SPARC focuses on discovery and research of novel drugs prioritised in three therapeutic areas i.e. oncology, neurology and immunology. According to the company, during FY22, SPARC raised $148 million to complete the ongoing clinical studies.
According to the India Bioeconomy report 2022 by the department of biotechnology, by 2025 BioPharma sector is expected to grow nearly 1.4 times to nearly $63 billion from $45 billion in 2022.
The company has forayed into the Bangladesh market with Aster Pharmacy division, a UAE-based pharmacy chain.
Department of Pharmaceuticals, 3 out of its 5 PSUs and research institutions combined have 65 senior positions vacant
Having received complaints from medical associations, NPPA asked IPA to investigate the matter under the Uniform Code of Pharmaceutical Marketing Practices (UCPMP), following which a three-member internal committee examined the issue.
The vaccine is an investigational 14-valent pediatric pneumococcal vaccine named as polysaccharide conjugate vaccine (PCV14) against Streptococcus pneumoniae infection in single dose and multi dose presentations.
Moderna alleges Pfizer/BioNTech, without permission, copied mRNA technology that Moderna had patented between 2010 and 2016, well before COVID-19 emerged in 2019 and exploded into global consciousness in early 2020.
Denosumab is indicated for the treatment of postmenopausal women with osteoporosis at high risk of fracture and prevention of skeletal-related events in patients with bone metastases from solid tumors among other indications.
As per IQVIA MAT June 2022 data, the medication had annual sales of around USD 282 million in the US market.
Bharat Biotech developed the first generation, rotavirus vaccine, ROTAVAC, under a Public-Private Partnership with the Department of Biotechnology, Government of India, and 16 other international partners, making it the largest ever social innovation project for public health.
Asked about inflationary pressures, Soriot said: "We are going to have to become more innovative and productive. We can't expect our selling prices to go up."
The rating agency's estimates are based on a study of 184 drug makers that account for 55 per cent of the Rs 3.4 lakh crore-a-year sector revenue.
The company has been replacing the insulation on recalled devices with silicone foam, and expects to be done by December 2022.
Dolo-650 freebies case: Justice DY Chandrachud who was heading the bench said that he was also prescribed the drug when he had COVID-19.
Sridhar also serves as the President of the Organisation of Pharmaceuticals Producers of India (OPPI).
The company, however, expects a strong bounce back in the next quarter. “Our numbers are muted this quarter, but we expect a strong bounce back Q2 onwards," Lupin said.
As per US Food and Drug Administration (USFDA), Form 483 is issued to a firm's management at the conclusion of an inspection when the investigator has observed any conditions that in its judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.
Cumulative exports in June 2022-23 rose by 22.22 per cent to $116.77 billion whereas imports went up 47.31 per cent to $187.02 billion during the same period
According to the industry experts, the Indian pharmaceutical market was pegged at around Rs 1,68,791 crore in the year 2021-22.
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