India's generic drug exports reaches 22% of world production

India's generic drug exports is growing at 22% over every year. According to Pharmaexil, generic exports accounts for around 20-22 per cent of the world?s production, covering more than 60,000 brands and 60 therapeutic classes. The APIs, generics and alternative systems of medicine ? climbed to $16.84 billion during 2016-17, with 34 per cent and 15 per cent supplied to the US and EU markets respectively. India has got extensive product portfolio, which provides the capability to manage and treat any ATC (Anatomical therapy classification) ? to the same quality as the innovators ? at highly affordable costs Read More

Strides Shasun receives USFDA approval for promethazine hydrochloride

Strides Shasun has received USFDA approval for promethazine hydrochloride tablets which is used to treat allergy symptoms, nausea and vomiting related to certain conditions. The product will be manufactured at the company?s Bengaluru facility and marketed by Strides Pharma Inc in the US market. The drug will be made available at strengths of 12.5mg, 25 mg and 50 mg. Currently, the market estimates for the drug in US market is USD 17 million. Read More

Indian government plans pharma technology upgradation fund for Rs. 5000 million

India is planning to set up a Rs 500-crore pharma technology upgradation fund which will facilitate cheaper loans to entities looking to upgrade their manufacturing facilities. Under the Department of Pharmaceuticals, it is already working on a proposal to establish a venture capital fund with a same corpus to provide cheaper loans to small and marginal companies planning to set up new units. Proposals are under consideration to rejuvenate the domestic pharma sector and make medicines more affordable. The department is also contemplating to launch a scheme for giving financial assistance in form of soft loans or interest subsidies to select manufacturing facilities. The government is working on setting up parks for pharma products and medical device parks. The government is also planning Read More