More than a few analysts and company executives are watching Indian drug companies in expectations of consolidation among smaller players and possibly daring moves by mid-cap and larger at home and abroad.
Consultants tell Reuters that large Indian companies are heeding the warnings from regulators and investing more in equipment and training. But some small to medium-sized companies are considering whether to pour money into their operations, retreat from high-profit but regulatory-heavy markets like the U.S. and Europe, or cash out.
India's Wockhardt has voluntarily recalled 85,000 cartons of over-the-counter heartburn treatment famotidine tablets, calling the state of its plans to recover from U.S. FDA import bans on two plants into further question, Business Line said.
After more than 5 years of FDA regulatory issues kept Ranbaxy Laboratories from generating the kind of cash it once had, owner Daiichi Sankyo threw in the towel. It recently sold the Indian generics maker at a loss to Sun Pharmaceutical and moved on down the road. Analysts say a tougher regulatory world is, in fact, remaking India's vast drugmaking industry.
Drug companies in India's leading industrial state of Gujarat, the base of Prime Minister Narendra Modi, are stepping up efforts to crack the domestic market for biosimilars as well as abroad, Business Standard reports.
An INR202.3 million ($3.2 million) offer for a 28% stake in India's Zenotech Laboratories by Sun Pharmaceutical Industries is "fair and reasonable," according to a special committee named by the target company to evaluate the proposed transaction.
Contract research in India has seen a boost that, along with other green shoots news, has lifted the tone for an industry that has run through a rough patch of regulator and civil society scrutiny over claims of poor management and allegations of a disregard for patient safety and informed consent.
India's Central Drugs and Standards Control Organisation (CDSCO) has told staff to forget holidays and weekends as it undertakes a massive drug inspection exercise it intends to complete by the end of the year.
India may soon make scuttlebutt on medical device price controls a reality, starting with orthopedic implants, the Times of India reports, as the National Pharmaceutical Pricing Authority asks Johnson & Johnson, Zimmer and Stryker to submit details of production and pricing of their products, including those for knee and hip.
India's Foreign Investment Promotion Board sharply hiked the foreign investment limit allowed for an upcoming initial public offering of shares in Syngene International, the CRO unit of Bangalore-based Biocon, setting the stage for a capital market entry expected in July.