The authority said it found it ‘surprising’ that the FMCG major had not added the tax cost and losses to prices of products between July 1 and November 14, 2017, but had chosen to do so from November 15, when it was supposed to have reduced prices due to the rate reduction to 18% from 28%.
Itolizumab, a first-in-class humanized anti-CD6 monoclonal antibody, is developed by Biocon and launched in 2013 in India under the brand name ALZUMAb to treat moderate to severe plaque psoriasis, a skin disease.
Vidita’s Neurobiology lab at TIFR currently studies the molecular, epigenetic and cellular changes that contribute to persistent alterations in human behaviour. It also focusses on molecular and cellular adaptations that arise from sustained antidepressant treatment.
This additional approval of its new manufacturing facility for pegfilgrastim in Bengaluru will enable the biotechnology major to enable its arm Biocon Biologics and Mylan to scale up capacity multi-fold and address the growing market opportunities in US and other global markets.
A three-member bench headed by Chairperson Justice S J Mukhopadhaya also said the Enforcement Directorate will probe and ascertain whether the money paid by the promoters is not from proceeds of crime. The promoters of the company include absconding Nitin Jayantilal Sandesara and Chetankumar Jayantilal Sandesara.
Kotak PE and OrbiMed together that hold 23% stake in Mumbai-based biopharma company Bharat Serums and Vaccines (BSV) are exiting through this sale. The rest of the stake is with the Daftary family who are relinquishing control but will stay on as a minority partner, said people in the know. Advent will become the largest shareholder in the company.
We have a very good track record on GMP compliance. We are taking a digital journey in strengthening our quality system, which will help us be dependent on systems and processes and less on people, says Siddharth Mittal, MD, Biocon.