Pfizer and BioNTech are the first drugmakers to show successful data from a large-scale clinical trial of a coronavirus vaccine. The companies said they have so far found no serious safety concerns and expect to seek U.S. emergency use authorization later this month.
"Sun Pharma has ensured adequate supplies of medicines to its customers across the world despite the supply chain disruptions and the lockdown restrictions in various countries," he added. Changes at manufacturing facilities have been made to ensure productivity, as well as adherence to all safety and hygiene protocols.
Speaking at the India-Portugal Tech Summit, organised by the Department of Science and Technology and the Confederation of Indian Industry (CII), Vardhan said the government has announced a USD 120 million grant for COVID-19 vaccine research.
With some sectors recovering much faster than others, experts said top executives of some companies may get decent salary increases while some others may have to take a pay cut.
Pfizer said on Monday said its experimental vaccine was more than 90% effective in preventing COVID-19 based on initial data from a large study. Pfizer and BioNTech are the first drugmakers to show successful data from a large-scale clinical trial of a coronavirus vaccine. The companies said they have so far found no serious safety concerns and expect to seek U.S. emergency use authorization later this month.
The news from the US biotech firm Moderna comes after similar results were announced last week for a vaccine candidate developed by pharma giant Pfizer and its German partner BioNTech.
Prime Minister Narendra Modi will on Saturday visit the Pune-based Serum Institute of India, which has partnered with global pharma giant AstraZeneca and the Oxford University for Covid-19 vaccine, a senior official said on Thursday.
Across the world, people have expressed wonder at the way in which Indians, whether poor or rich, young or old, rural or urban, have shown the ability to be responsible, disciplined, focused, law-abiding, patient and composed during a crisis of unprecedented proportions, he said.
The global chemical industry has been dealt a series of blows from closures related to Covid-19 pandemic, demand destruction and logistical challenges, the report said.
Pharma companies fooling you? Virus may be an incredible PR coup for an industry trying to rescue its image
The mRNA vaccines in which people are now staking so much hope wouldn’t exist without public support through every step of their development.
Two vaccines are undergoing third-phase trials in the UAE, one produced by Chinese drug giant Sinopharm, and Russia's Sputnik-V, named after the Soviet-era satellite.
Longer term, pharma and chemicals is a very structural story underlying these businesses and probably they will do very well, says Pankaj Murarka.
I remain very positive on pharma. Top pick still remains Aurobindo Pharma, says Dipan Mehta.
The Indian pharmaceutical industry is a fine example of how such investment in R&D, combined with supportive public policy, has created global players. However, the pharma, biology and healthcare industry needs a public policy framework that will support private investment in R&D and innovation to maintain India’s pre-eminent position in this sector.
Modi visited the SII facility near here to review the development and manufacturing of coronavirus vaccine. Speaking at a campaign meeting for election to the Pune Graduates Constituency of the Legislative Council at Talegaon Dabhade, Sule said, "He (Modi) is in Pune today.
"Foreign stocks have done well, especially those directed at the developed markets. While easy money policy is fuelling the rally in stock markets abroad, we may be reaching near-bubble valuations especially in the tech sector in the US," said Deepak Jasani, HDFC Securities.
Positive news on corona vaccine lifts sentiment for banks, other battered stocks in hotels, airlines & tourism; Look at only the leaders in these sectors, caution analysts
Though we remain cautious, we are trying to identify stocks or sectors where the downside is protected and the upside is pretty open, says Sandeep Tandon.
Now in the last leg of their fight, government, regulators, pharmaceutical companies and ancillary industries must once again collaborate to bring an efficacious vaccine to the people in the shortest possible time.
Big pharma is racing to produce an effective jab to counter a virus that has now killed more than 935,000 people around the world and infected almost 30 million.
The freelance earnings in India increased in the ongoing quarter of this financial year and have returned to pre-COVID-19 levels, according to a report.
In an interview with ETNOW, Jain said nobody could have forecast Covid-19. “While the impact of lockdown will pass, lower interest rates are here to stay,” Jain said.
Equity benchmark Sensex hit the 44,000 mark on November 17 for the first time. The index had earlier hit its 52-week low of 25,638 on March 24 amid the Covid-19 pandemic, which led to the nationwide lockdown.
Restoration of the impacted systems is a priority and is underway, it added. The incident comes after another pharma major DrReddy's Laboratories had also experienced an information security incident in October this year. The incident involved a ransomware attack, the company had said.
Sharing information with shareholders, Sun Pharmaceutical Industries Managing Director Dilip Shanghvi said the company's strategy of developing the specialty business as an additional growth engine has started delivering results, with a gradual ramp up in specialty revenues.
Aurobindo Pharma said it is developing a vaccine for COVID-19 through its wholly-owned US subsidiary, Auro Vaccines. The vaccine candidate is based on a proprietary vaccine delivery platform of the company.
Chinese manufacturers have increased the cost of key starting materials (KSMs), or intermediates, by up to 20%, escalating the input cost for Indian pharma companies.
We expect the margin trajectory to be much better for FY22, FY23, given the cost cutting and offshoring angle we are seeing in IT and pharma, says Pratik Gupta.
If the initiative, aided by Gates’ fortune and focus, manages to help protect the world’s poor from a virus that has already killed more than 1.3 million people, it will affirm the strategies he has promoted in his philanthropic work, including incentives for drug companies.
‘We have a buy on Dr Reddy’s and Lupin. Dr Reddy’s definitely has a positive but the valuation remains very challenging after this recent run up of Rs 1,000 or more.’
Sun Pharmaceutical Industries’ domestic sales were Rs 2,388 crore in April-June compared with Rs 2,364 crore in the previous quarter. Lupin’s domestic business fell 6% from the same quarter last year.
Opportunity to launch a vaccine would mean one-time exceptional business gain, brand boost
The Indian pharma industry has been a world leader in generics both globally and in domestic markets.
‘Money flows will come to Asia and India will capture quite a large slice of that.’
Top 6 metros led by Bengaluru (10%) and Hyderabad (10%) saw sequential growth while Mumbai (-2%) saw a marginal decline. Tier-2 cities such as Ahmedabad (-12%), Kochi (-8%) and Vadodara (-5%) also registered a sequential decline in hiring.
Expect the unexpected, and expect the unexpected to be worse than the expected. Think of the concept of a financial stress test and check if your investments as well as your financial life (as well as life in general) can manage a bout of severe problems.
Raw materials from China are used in making antibiotics, paracetamol, and diabetes and cardiovascular drugs, among others. Companies including Lupin, Sun Pharmaceuticals, Glenmark, Mankind, Dr Reddy’s, Torrent, Aurobindo Pharma and Abbott are hugely dependent on Chinese imports.
Trump order may see innovative drug prices getting halved, impact generic cos: Nirmal Bang Securities
US will continue to dominate and order impact could be diluted once the names of the drugs that can be imported come out.
Six months from the first nationwide lockdown in March, with a sharp economic contraction looming large, all eyes are on the shape of the recovery graph. Macroeconomic outlook resembles an alphabet soup.
The vaccine, named ChAdOx1 nCoV-19, is based on a weakened version of the common cold that causes infections in chimpanzees. It also contains the genetic material of the spike protein of SARS-CoV-2 – the strain of coronavirus that causes the COVID-19 illness. The Oxford University vaccine is one of more than 100 in development as the novel coronavirus continues to spread.
‘We might have a robust recovery in auto coming our way over the next six months to a year.’
Should you invest in pharma for 2-3 years? Definitely not. The FDA regulatory overhang will remain but you have to live with it.
Cost reduction, better-than-expected demand recovery and lower provisions for financial firms are some of the things that helped boost the bottom line, said Gautam Duggad, Head of Research at Motilal Oswal Financial Services.
Ind-Ra's portfolio consists of 19 pharma-formulation manufacturing issuers that are rated 'IND A-' and above.
Speaking in a documentary -- COVID-19: India's War Against The Virus -- to be premiered on Discovery Plus this (Thursday) evening, Gates said India also faces a huge challenge due to the health crisis because of its gigantic size and urban centres with a lot of population density.
The retail loans accounted for 46.7% of the total loans at the end of September 2020, and the balance contributed by corporate loans.
Three employees of Cadila Pharmaceuticals' Dholka-based plant near here in Gujarat have died of coronavirus infection, the company said on Saturday.
National chemists and druggists association and industry lobby groups have urged the government to put all ancillary goods required for medicine production in the essential services category as they fear major supply disruptions in the days to come.
As trade and commerce get disrupted, Indian companies are likely to feel the heat as well.
So, why this sudden shortage of gelatin? The lockdown is to blame for this shortage, which highlights the delicate and intricate linkages in the manufacturing value chain. Travel curbs for cattle movement and abattoirs have hurt gelatin production, causing supply disruptions at drugmakers.
Surplus liquidity coupled with historical low bonds yields are bringing investors to the equity market, Saraf told ET in an interaction.
Market focus may shift a little bit towards some of the quality midcaps, says Siddhartha Khemka
50% of India’s market cap is with 25 companies and that is why sometimes Nifty looks very different from what is going on with the country, says Manish Chokhani.
'Covid-damaged sectors are way below book, way below replacement value and it is unlikely that these sectors would not normalise over a 12-18 month period.'
The AMC’s investment team, led by star fund manager Prashant Jain, seems have turned the focus on stocks that are likely to benefit from the recovery in the hinterland and on companies that may benefit from Covid-19 pandemic and from the reopening of the economy.
The national lockdown has hit pharmaceutical companies hard as restrictions on movement of goods and people imposed by the police led to a disruption in their supply chain, potentially blunting India's fight against Covid-19.
It is better to play external focussed sectors and within that, growth stocks are the best place to be in at least for the next three to four months.
"Gilead Sciences has applied seeking marketing authorisation for its anti-viral drug remdesivir to India's Central Drugs Standard Control Organisation (CDSCO). The CDSCO will examine the application with the help of the expert committee. It will take a final decision based on the recommendations of the expert committee," a source said.
“India is currently only testing 160 people per million,” Varaprasad Reddy, chairman of Sanofi Healthcare, said at a session on ‘Diagnostic & Testing’.
The funds would be utilised for procuring ventilators, personal protective equipment (PPE) and medicines for the states reporting maximum number of positive cases, it said. The company said it will be working closely with various state governments including Kerala, Maharashtra, Uttar Pradesh, Uttarakhand, Bihar, Tamil Nadu, and Karnataka, among others.
If the virus outbreak isn't contained over the next three months, supply disruption is likely to be far greater than that in FY17, resulting in pressures on cash flows for players. But the pressure will be less on API players. Given the low degree of backward integration, the report believes half companies may face pressures on their credit metrics.
The U.S. firm has announced two deals in India in the past month -- an acquisition of a 20% stake in billionaire Ajay Piramal’s pharmaceutical business for $490 million and paying $235 million for a stake in Bharti Airtel Ltd.’s data-center business.
The move has been triggered by the shortage of drugs — most of them supplied by Indian generic drug companies — that the US faces during the Covid-19 pandemic. The Indian Pharmaceutical Alliance has asked the FDA last month to find a solution for inspecting the manufacturing plants of its members.
Resumption of normal supplies has also calmed worries, at least for now, about the Sino-Indian border standoff affecting imports from China and disrupting India’s pharma industry.
Remdesivir is presently considered the most promising candidate for the treatment of COVID-19, and is the subject matter of three Indian patents granted in 2016, 2019 and early 2020 respectively. Through the licenses, the licensee companies will be provided transfer of technology and would be able to set their own prices for the drug.
Assuming 300 working days in a year, the daily output comes to Rs 45-50,000 crore which can potentially be lost due to the shutdowns, says the report. Based on this, Q4 growth may not be negative but can go down to 1.5-2.5 per cent. The economy was slated to grow by Rs 1.74 lakh crore in Q4 or by 4.7 per cent.
When it comes to advance tax payments, pharma has emerged as one of the outliers with the sector showing a higher payout this quarter, while real estate, infrastructure, steel and cement were among segments that crumbled under the weight of the coronavirus-induced lockdown.
There is a pay structure realignment happening as a response to the Covid-19 crisis where certain organisations are looking to increase the variable component in salaries, particularly of those in middle and senior management, in order to link compensation more to performance, multiple experts told ET.
The IPA wants the government to accord infrastructure status to the Active Pharmaceutical Ingredients (API) industry, and provide a boost to innovation through tax incentives on patent income, streamlined pathways for testing and approval of experimental therapies, its president, Satish Reddy told ET.
The index for September at 1755 marks an improvement of 24% in hiring activity as compared to August at 1413, the leading jobs portal said in a press release.
The U.S. pharmaceutical industry, long a supporter of Republicans, is giving almost half its political donations to Democratic candidates in this year's election, as companies look to fend off a threat to drug prices if Democrats gain power.
A committee led by cabinet secretary Rajiv Gauba has also decided to set up a nodal coordination committee to ensure expeditious disposal of all applications with the decision binding on all regulators. “The proposal was cleared by the committee in the first week of June,” a top government official told ET.
Sanofi halts trials of IL-6 drug for Covid-19, India to continue with trial of another drug of similar class
The decision casts a shadow on other similar classes of drugs such as Tocilizumab by Swiss drug maker Roche pharma, that are under trial for treating Covid-19 in countries including India. However, the investigator leading the Tocilizumab trial in India told ET that the efficacy of these drugs on moderate Covid-19 patients still needs to be studied.
On a standalone basis, the company improved margins significantly during the September quarter, thanks to a better mix of products and lower raw material prices. The numbers beat Street estimates.
Officials of the Union Health Ministry, along with the Drugs Controller General of India (DCGI) held a discussion with the representatives of Gilead Sciences on Wednesday to prepare a road map for introducing remdesivir in India, sources said.
Pharma has niches for investors to hide in and get outperformance over next 2-3 quarters, says the Founder & Director of Elixir Equities.
A Parliamentary panel told senior government officials on Wednesday to promote cheaper and easily available domestic-made medicines for COVID-19, and check recommendation and prices of expensive medicines pushed by pharma companies.
Contrary to expectations, India’s power consumption grew in double digits YoY at 11.4 per cent in the first half of this month.
‘We cannot be very thematic in this market right now’
'There is definitely room beyond the re-rating that the market has already seen, which should come from more and more of these complex generics materialising in the near future.'
Pharmaceutical lobby groups have urged the government to lift restrictions on export of active pharmaceutical ingredients (APIs) and formulations, saying they have enough stock and there will be no shortage of these formulations in India amid the coronavirus outbreak.
If you have invested in the US market, hedge it. In the Indian market, focus on export sectors which have done well for the time being, says Ajay Srivastava
The 20% stake sale values Piramal’s pharma business at Rs 20,000 crore.
Sun Pharmaceutical Industries Ltd has committed to donate Rs 25 crore worth of Hydroxychloroquine (HCQS), Azithromycin, other related drugs and hand sanitisers to support India's fight against coronavirus pandemic.
In a video-conference of SAARC members on Sunday, Prime Minister Modi proposed setting up a COVID-19 emergency fund with India committing USD 10 million initially for it, and asserted that the best way to deal with the pandemic was by coming together and not growing apart.
We have been running our factory from day one, says the Co-Chairman and MD of Dr Reddy's.
Data crunching of June quarter earnings of nearly 300 BSE500 companies that have announced an operating profit (i.e. profit before taxes and interests) showed two-thirds of them managed to bring down their expenses during the quarter.
‘We are seeing a shift towards manufacturing in India, people wanting to integrate backwards.’
Retailers are coming back to companies and saying they are unable to sell the products.
Bajaj Finance, Nestle, Sun Pharma among 9 stocks that analysts say can offer good returns over 3-4 weeks
With outlook for market uncertain, analysts are advising to adopt stock-specific approach.
"The company has shut down its manufacturing operations located at Mambattu-Nellore in Andhra Pradesh, Sriperumbudur and Cuddalore (Tamil Nadu) and scaled down its operations at Mithapur in Gujarat for the production of soda ash and cement," it said.
GDP and capital market should be correlated but the correlation is no longer valid, says Krishna Kumar Karwa.
Piramal Enterprises on Thursday reported a 10.57 per cent rise in consolidated net profit at Rs 495.56 crore for the quarter ended June 30, 2020.
While increased prices will put cost pressure on the domestic industry over the next few months, more importantly it has sparked speculation that this could be a potential ploy by China to scupper efforts of India’s drug industry to be self-reliant, or ‘Atmanirbhar’.
Vaccine development is a complex process, traditionally it takes as long as 20 years, said Ashish Pal, vice-president of the Singapore Association of Pharmaceutical Industries (SAPI).
Siddhartha Khemka, Head of Retail Research, MOSL, says if the coronavirus issue impacts the economy even for one quarter, we could see some more selling pressure in metal counters.
In India, infections have been relatively less, with only a few confirmed cases till last week.
The pharma industry representatives ET spoke with said that while the customs department has been clearing containers of some drugs from China, consignments containing key starting material, active pharmaceutical ingredients (APIs) of vitamins, blood thinners and some critical drugs, etc., are still not cleared. Besides, port authorities are demanding demurrage charges.
Glenmark Pharmaceuticals was the biggest loser on the healthcare index.
As Indian pharma accounts a significant share of the US generic market, Ind-Ra said it has seen increased scrutiny of the manufacturing facilities by US FDA over the last two years as the share of Indian generics products with higher complexity in the US market has increased.