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Latest From Penelope MacRae
India’s Cadila Healthcare, which has been suffering on the earnings front, is amalgamating four subsidiaries under its roof to reduce overheads from managing separate entities and avoid duplication of efforts after posting weak second-quarter earnings.
India’s Ajanta has reported a 7% drop in second-quarter net profit with its African branded generics remaining a problem area. However, US sales climbed by nearly 40% and analysts remain positive on the company’s outlook, buoyed by a beat on revenue estimates.
Mochida has launched the first Japanese teriparatide biosimilar rival to Eli Lilly’s blockbuster osteoporosis drug Forteo. The company is hoping for big sales for the injectable in the country where the government is aiming to rein in healthcare costs for its rapidly ageing population.
Cipla is reportedly leading the pack to acquire business divisions of debt-laden Wockhardt in a transaction that could be worth hundreds of millions of dollars and would boost the Mumbai-based company’s domestic presence.
Biologic exclusivity provisions in the proposed USMCA US-Mexico-Canada trade agreement will not create a new market for original biologics in Mexico, as firms have been selling them in the country since before 2001, the US Association for Accessible Medicines has argued in response to brand industry claims.