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.
Coronavirus lockdown took a massive toll on the wedding industry in Gujarat’s Vadodara. Marriage decorators are facing hardships to revive their businesses in market. They are suffering loss due to COVID-19 outbreak. There are 12,905 confirmed cases of coronavirus in Gujarat. According to the Ministry of Health and Family Welfare, the total number of COVID-19 active cases are 66,330 and 3583 deaths in India.Covid-19 impact: Lockdown takes toll on wedding industry in Vadodara
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.
Higher duties on Chinese products may also be on the cards, official sources said. These moves gathered pace in the wake of the military face-off between India and China in east Ladakh and the continuing diplomatic tension since then, prompting the government to explore all options to reduce import dependence on China.
Three employees of Cadila Pharmaceuticals' Dholka-based plant near here in Gujarat have died of coronavirus infection, the company said on Saturday.
The 20% stake sale values Piramal’s pharma business at Rs 20,000 crore.
‘We cannot be very thematic in this market right now’
‘We have a very strong presence in the formulation market’
"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.
Retailers are coming back to companies and saying they are unable to sell the products.
Two people were killed and four others were taken ill after benzene gas leaked at a pharmaceutical company at Parawada near here early on Tuesday morning, official sources said. The situation was now under control as the leak was restricted to one unit in the Sainor Life Sciences company. The injured persons have been admitted to a hospital in Gajuwaka, with one of them being put on ventilator support, the sources said. Andhra Pradesh Chief Minister YS Jagan Mohan Reddy enquired about the accident due to gas leakage at Sainor Life Sciences Pvt Ltd at Visakhapatnam's Parawada.Andhra Pradesh: Two dead, four injured in benzene gas leak at pharma plant in Vizag
The Indian pharma industry has been a world leader in generics both globally and in domestic markets.
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.
Roche Pharma India has signed a "distribution agreement with Cipla to expand the scope of the partnership to include, marketing and distribution of its trademark oncology drugs - trastuzumab (Herclon), bevacizumab (Avastin) and rituximab (Ristova) in India," the company said in a statement.
India has become the key foreign market for Zyfra with more than 500 CNC machines connected to its MDCplus real-time machine monitoring and manufacturing data collection system in 2019.
‘The US market provides good revenue in dollars which is a bonus’
India must take into account the altered global economic landscape that may emerge in the post-Covid-19 era.
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.
The Covid-19 situation has brought our focus back on a few important aspects.
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.
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.
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.
The QIP has been launched at an indicative price of Rs 1534 per share, about 2% discount to the last closing price of Rs 1562 on July 2, said bankers.
The analyst suggested a stoploss at Rs 475.
Global supply chains were disrupted after the Covid-19 outbreak, hurting India’s manufacturers and exporters, and that was followed by border tensions with China that erupted last month.
‘I really do not think there will be any kind of big benefit out of Fabiflu’
School closures during lockdown have exacerbated the situation because more women than men tend to care for children.
The company is expected to undertake cash preservation measures such as reduced capital expenditure (capex) and limited dividend payout in FY21, which shall support liquidity. Additionally, to preserve liquidity, Vedanta has availed moratorium on its term debt obligation as per RBI guidelines after approval from respective banks.
The phases of lockdown announced by the government witnessed a revenue shortfall of more than 60 per cent for the sector, creating an unprecedented crisis to the industry.
Resolution of the US drug price fixing probe will remove a major overhang on the stock.
India is trying to encourage local manufacture of APIs, intermediates and key starting material used in the production of drugs and cut dependence on China. However, the scheme was meant to cater only to domestic demand and exports were restricted.
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.
“India is currently only testing 160 people per million,” Varaprasad Reddy, chairman of Sanofi Healthcare, said at a session on ‘Diagnostic & Testing’.
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.
Boeing is cutting more than 12,000 jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry, and more cuts are coming.Covid-19 impact: Boeing slashes 12,000 jobs as virus seizes travel industry
GSK Pharma said it has been able to smoothly manage supply chain operations during the period.
Since April 20, 2020, onshore operations have been restarted and are near normal at present.
While about 9 per cent of the company's natural gas output was impacted by inability of customers to take supplies due to the coronavirus lockdown, lower oil and gas prices had impacted its revenues, the company said.
Ind-Ra's portfolio consists of 19 pharma-formulation manufacturing issuers that are rated 'IND A-' and above.
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.
‘Companies can easily deliver 18 to 20% CAGR for next three to four years’
Earnings downgrade in the sector is likely to be the lowest among all sectors.
With economic outlook very uncertain, should you still remain heavy on equities?
During these unprecedented times, the pharmaceutical industry has worked with the government in an integrated manner and continued to operate with vigour to drive local expertise and truly live up to its title as the 'Pharmacy of the World', the prime minister added.
The travel industry is bracing itself for the new changes that will have to be factored in post lockdown.
The Nifty Pharma index was trading 1.03 per cent down at 9151.4 .
While the government is set to allow more flights, airlines have not been able to utilise the existing approvals. Data available with ET shows that airlines together operated 749 flights on Tuesday, much lower than the approved figure of 1,200 flights.
The event focused on transforming and digitalizing the life sciences industry in India, which is undergoing core shifts in business processes and manufacturing operations to make it more agile and adaptable.
Pharma has niches for investors to hide in and get outperformance over next 2-3 quarters, says the Founder & Director of Elixir Equities.
With outlook for market uncertain, analysts are advising to adopt stock-specific approach.
The brokerage expects US revenue growth to remain low in the near term with gradual ramp-up in the specialty portfolio offset by likely generic competition in Absorica in H2FY21.
We have been running our factory from day one, says the Co-Chairman and MD of Dr Reddy's.
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.
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.
The investments, from Dhawan’s personal investment entities, were done in March last week.
Domestic steel demand in FY21 is likely to drop by around 12-15 per cent year-on-year with end-use industries being closed down and limited demand growth expected over the near term.
Having been exempted from the nation-wide lockdown as it came under essential services, the sector has accorded priority to meet the domestic requirements during the current scenario, according to office-bearers of the nearly 1,000 member strong IDMA.
Some marquee brands are looking at moving back to streets from malls because of Covid-19.
The anticipated applications and integration of robotic technology will require leaders of the future to carefully consider the balance between the roles of service robots and human employees in the guest experience, according to the paper published in the International Journal of Contemporary Hospitality Management.
“Telangana is the largest pharmaceutical hub in the country, contributing more than 35% of the national production. But the the industry has started to experience financial burden due to reduced production capacity, shortage of labour, price pressure,” KT Rama Rao said in his letter to commerce minister Piyush Goyal.
As trade and commerce get disrupted, Indian companies are likely to feel the heat as well.
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.
Human trials for at least 3-4 candidates are likely to begin in the next 2-6 months. Biotechnology Industry Research Investment Council (BIRAC) a public sector of Department of Biotechnology, has been at the forefront since the inception of the COVID crisis.
The sector is seen as among the few that will not witness any demand-side disruptions as a result of the pandemic. However, certain concerns regarding the sector remain.
The govt has begun examining ways to shore up foreign investments, including a fast-track mechanism to clear applications of companies especially in the pharmaceutical sector that are looking at India with the US pushing its companies to relocate from China.
The movie industry's biggest night is currently scheduled for February 28.
The next few months for the insurance industry will be difficult in returning to the high speed market growth highways they are used to for long, and they have to find innovative solutions to stay profitable and resilient.
Betterplace, one of the largest human capital management platforms for blue-collar workforce, has mandates for 3 lakh such personnel for July and August from various sectors across the country. There's also huge demand for home delivery personnel for ecommerce and non-ecommerce, contract workers in manufacturing & other sectors.
The Serum boss climbed 57 places to be the 86th richest person in the world.
As per the current assessment, there is no significant impact on the company's capital and financial resources and other assets, it said.
Many of the promoters who run these companies do not have a lot of leverage, says market veteran Madhusudan KelaMadhusudan Kela is betting on pharma amid Covid scare; here's why
The medical aid provider, also known as ‘Doctors without borders’ in the English-speaking world, foresees a spike in Covid cases in the hinterlands as several lakhs of migrants return to their villages.
The delays and uncertainty at ports are hurting our industries — especially pharma, auto and electronic sectors that, over the years, have become part of the global value chain.
Based on assessments made by different analysts and industry body Ficci, here is an impact analysis in healthcare sector.
The trade deficit between the countries was at USD 53.56 billion in 2018-19 and USD 63 billion in 2017-18.
The Nifty Pharma index was trading 1.01 per cent up at 9240.55.
Industry body Bus & Car Operators Confederation of India (BOCI), which claims to represent 20,000 operators with 15 lakh buses and maxi-cabs and 11 lakh tourist taxis providing direct employment to 1 crore people, said these private operators need government support in the form of waiver of taxes and interest on loans as many of them are facing closure.
Aviation minister says sector will recover quickly as the country has a huge captive market.
UP will be a hub for many activities like textile, MSME, pharma: Uttar Pradesh Cabinet Minister Sidharth Nath.UP will be hub for textile, MSME, pharma sectors: UP Minister Sidharth Nath
The Nifty Pharma index was trading 0.51 per cent up at 9429.4 .
This will be the second online conference that Bennett University will be organising in less than a week. At a time when leading research labs, think tanks and universities are pooling their resources together to find the best possible way to contain the Covid-19 pandemic, this online conference will aim to explore the possibilities in biotechnology which could assist in combating the pandemic.
‘The focus is on moving towards the largecaps and the more liquid names.’
The source of infection has continued to remain a mystery. The state health department is yet to ascertain how the first patient, who was working in the quality assurance division of the pharma company, contracted the virus. The first patient although has recovered, is under quarantine in a government isolation facility in Mysuru.
In order to become globally competitive, manufacturing has to be private sector driven.
Medical equipment such as infrared thermometers and pulse oximeters needed in the fight against Covid-19, among others, are stuck at the ports and may result in shortages soon, according to the Pharmaceutical Export Promotion Council (Pharmexcil).
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.
As many as 19 stocks turned ‘overbought’ as they crossed the 70 mark on RSI indicator.
On a year-to-date basis, the BSE Midcap index is down 13 per cent and Smallcap index 9 per cent.
Today, the need of the hour is to prepare to resume operations, but in a responsible manner.
India's decision to sell the sought-after drug to Malaysia signals a turnaround in relations between the countries that had soured because of repeated criticism of some Indian policies by Mahathir Mohamad, before he resigned as Malaysia's prime minister in February.
Carmakers, phone firms are set to begin production with output less than the usual level.
The ban on public transportation is making it difficult for labourers to reach manufacturing plants. All the ancillary goods required for medicine production are getting detained or are shut. Printers that manufacture packaging for medicines are shut, vehicles of suppliers of packaging materials for medicines are getting detained.
Most luxury brands feel that the negative impact of the outbreak will linger even after the lockdown is lifted, it said in the ‘Impact of Coronavirus on Luxury Industry’ study. “Around 79% of the respondents feel that customers are in a wait-and-watch mode since they are unsure of the likely turnout of events,” Luxury Connect said.
Highlighting the industry’s pro-active role in reinforcing critical public messaging in its plea to the government, IOAA has recommended a few measures to ease the financial burden on the Indian OOH industry.
Butschek said that the operating location of an executive doesn’t matter as much these days, with the company focused on executing the “transformation” roadmap set out four years ago to turn around the business.
India’s decision on Saturday to amend FDI rules requiring government approval for entities from countries that share a land border — read more specifically as China — is not only an attempt to protect vulnerable assets from predatory acquisitions but a recognition that in the wake of the Covid-19 crisis India needs to draw a careful line between economic openness and national security.
During lockdown, recruitment volumes were down nearly 80% for some firms as compared to pre-Covid levels.
‘Life is going to go back to normal faster than you think’
While the Swachh Bharat Mission (SBM) managed to reduce open defecation and make cleanliness a priority for the government, it could hardly get the public to adopt cleanliness as a way of life.
The prolonged lockdown along with rain and hailstorm in many regions has heightened rural distress, pushing anxious villagers to moneylenders — a situation which farm leaders say can trigger agitations and suicides unless farmers get quick relief.
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