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Kotak Fund to part finance matrix lab founder's Viatris buy
The fund plans to provide a $150 million mezzanine debt facility at 18-20% and arrange another $300 million from other lenders to finance the acquisition, said a person in the know. "The funding cost could vary by the instrument where the blend-in cost could be 14-15%," he added.
Matrix Laboratories founder buys back API Biz from Viatris
Nimmagadda Prasad, the founder of Matrix Laboratories, has bought back the active pharmaceutical ingredients (API) business he sold to Mylan NV (now Viatris) in 2006. The acquisition was made through IQuest Enterprises, owned by Prasad. Viatris will retain some selective R&D capabilities in API while divesting its women's healthcare business to Insud Pharma.
Matrix Labs founder buys back Viatris' API business in India
Viatris' latest transaction includes three manufacturing sites and a R&D lab in Hyderabad, three manufacturing sites in Vizag and third-party API sales. Viatris will retain some selective R&D capabilities in API. The transaction is expected to close in Q1 2024, added Viatris' statement.
Viatris puts India API business on the block
However, the API sale process, which was launched a couple of months ago, has seen no serious buyers, added multiple people aware of the development. The company has been seeking a valuation of $600-700 million (₹5,000 crore) for the API business and hired Jefferies to run the sale process.
Viatris buys Taparias' eyecare business for Rs 2,460 crore
The ophthalmology portfolio consists of six new chemical entities (NCEs or molecules) that are under phase 3 trials and will be developed further by the Vitaris. The remaining oncology and dermatology business will be demerged into a new entity named Famy Pharma.
Remdesivir sells at 10x prices, NPPA unable to regulate as it's not notified as a 'drug'
The NPPA can only control prices of devices and products that are defined as drugs under the Drugs and Cosmetics Act. A product or device that is not notified as a drug goes out of the NPPA's purview.
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Cipla rises 2% as drugmaker launches remdesivir generic at Rs 4,000 per vial
Pharmaceutical major Mylan NV said its generic version of remdesivir will be priced at Rs 4,800
Cipla launches generic version of remdesivir at Rs 4,000 per vial
"We are proud to commercially launch Cipremi today (on Wednesday); amongst the lowest priced globally, and aim to supply over 80,000 vials within the first month itself," Cipla Executive Vice-President and CEO (India Business) Nikhil Chopra said in an e-mailed statement.
Mylan gets DCGI nod for remdesivir in India, to launch at Rs 4,800 per vial
The DCGI has approved the company's remdesivir 100 mg per vial for restricted emergency use in India as part of the regulator's accelerated approval process to address urgent, unmet needs amid the evolving COVID-19 pandemic, Mylan said in a statement.
Dow Jones muted as virus cases rise, jobless claims weigh
Dow Jones Industrial Average was down 2.98 points, or 0.01 per cent, at 26,116.63.
Health ministry recommends remdesivir for moderate cases, HCQ for early course of COVID-19
Under emergency use authorization, remdesivir may be considered for patients in moderate stage requiring oxygen support. It is not recommended for those with severe renal impairment and high level of liver enzymes, pregnant and lactating women, and those below 12 years, the document stated.
Remdesivir, tocilizumab being considered for 'restricted use' on severely ill COVID-19 patients
The much-touted anti-malarial drug hydroxychloroquine will continue to be used while azythromycin may be dropped from the treatment protocol, sources in the know of the developments told .
Biocon, Mylan launch cancer drug in Canada
Fulphila, co-developed by Biocon Biologics and Mylan, was the first biosimilar pegfilgrastim to be approved in the US and was launched in July 2018.
Dow tanks 1,000 points as pandemic fears heighten
The benchmark S&P 500 fell about 12% from its record closing high hit last week, confirming its fastest correction in history on Thursday.
5 stocks that are buzzing on F&O traders’ radar
Some fatigue is also visible in individual counters, with no major build-up of long positions.
Founders seeking exit value Sequent Scientific at Rs 2,500 crore
Sequent’s market cap as on Tuesday was Rs 1,670 crore. But the founders are seeking a control premium of 49.7% or 18-20x forward Ebitda multiple, valuing the company at Rs 2,100-2,500 crore, sources said. Some, however, worry that such expectations may turn out to be a potential deal breaker.
Biocon rises 5% after launch of Ogivri in US market
Biotechnology major Biocon and drug firm Mylan NV on Monday announced the launch of biosimilar Ogivri, used for treatment of certain breast and gastric cancers, in the US market.
Stocks in the news: YES Bank, Tata Motors, RBL Bank, Biocon and Dish TV
Tata Motors, a Tata Group firm, said it has bagged an order for over 2,300 buses.
Mylan working with DCGI to launch new TB drug in India
Mylan will be in a position to launch the product in India soon after receiving approvals from DCGI," Mylans global president and executive director Rajiv Malik said.
Culture of ‘bending rules’ in India challenges U.S. drug agency
The US drug agency is bewildered with Indian pharma industry's culture of getting things done at all costs.
USFDA okays Mylan, Biocon's biosimilar of cancer drug Herceptin
Ogivri is the first USFDA approved biosimilar to Herceptin and the first biosimilar from Mylan and Biocon's joint portfolio approved in the US.
For Glenn Saldanha, innovation is the new Vitamin for Glenmark's success
Investors complained, competitors were mystified and Saldanha's father was skeptical. Nevertheless, Saldanha pressed ahead in the painstaking trial and error process of new drug discovery.
Mylan plans generic EpiPen to quell outcry over $600 cost
Mylan has attracted scrutiny for increasing the treatment’s price 400% in nine years — EpiPen cost $57 for a single pen when the drugmaker bought it in 2007.
Mylan launches generic Hepatitis C drug in India
Drug firm Mylan NV has launched generic Harvoni tablets, used to treat Hepatitis C, under the brand name 'MyHep LVIR' in India.
Mylan fails in $26 bn bid to buy fellow drugmaker Perrigo
Mylan NV's $26 bn hostile bid for Perrigo collapsed on Friday after the Netherlands-based drugmaker failed to secure at least half of Perrigo's outstanding shares in the tender offer.
Mylan launches hepatitis-C Sovaldi tablets in India
Sovaldi is sold by Mylan's dedicated sales force as part of its Hepato Care segment.
Mylan Pharmaceuticals launches generic hepatitis C drug MyHep in India
US-based company's Indian arm Mylan NV has launched generic Sofosbuvir tablets in strength of 400 mg under the name MyHep in the country, it said.
Teva bid for Mylan sparks worries of rising generic drug prices
The increase in generic-drug prices has been a growing concern across the pharmacy industry, affecting mom-and-pop businesses and giant chains alike.Load More
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