Hyderabad-based Aurobindo has put the Indian market in its sights with the $22.6 million acquisition of the domestic formulations business of Veritaz, Aurobindo announced Monday. Veritaz boasts around 40 brands in the acute and critical care therapeutic segments and is also headquartered in Hyderabad.
The acquisition will serve as a “launch pad for marketing biosimilar and other products in India,” Aurobindo said in its press release.
When ViiV Healthcare announced last week that it would not pursue a voluntary licensing deal for its long-acting HIV prevention shot, blowback was swift. Advocacy groups cried foul. STAT remarked on the “surprise move.” The company backpedaled within days, but its updated statement continued to indicate the GSK subsidiary would remain the sole supplier of long-acting cabotegravir, “at least during the initial years.”
The statement that triggered the furor was less obliging: “voluntary…
The Access to Medicine (AtM) Foundation announced Tuesday that it will expand its biannual ranking of the 20 largest pharmas to include monitoring of the world’s most important generic, vaccine, diagnostics, and medical gas companies.
Citing an “unacceptable gap between the ‘haves’ and the ‘have-nots,’” an AtM press release said the Covid-19 pandemic had revealed “acute issues of access,” not only to medicines and vaccines but to medical oxygen and other essential health products.…
Novartis has begun a “strategic review” of its Sandoz subsidiary that will “explore all options, ranging from retaining the business to separation,” the Basel-based company announced Tuesday alongside its quarterly earnings statement. While the generic business accounted for around 20% of total company sales last year, the Swiss pharma giant expects the unit’s core operating income to decline more than previously expected, the press release said.
A Wall Street Journal article on…
Novartis’ Sandoz subsidiary will pay $185 million under an agreement with the U.S. government to resolve civil liabilities related to alleged price-fixing of generic drugs, the Department of Justice announced last week. The payment adds to an earlier penalty of $195 million to settle criminal charges in the matter.
The government also announced related civil settlements with Taro Pharmaceuticals (for over $213 million) and Canada-based Apotex (for $49 million). India’s Sun Pharma…
The Clinton Health Access Initiative (CHAI), Hyderabad-based Laurus Labs and Unitaid announced a deal Monday to accelerate the development, commercialization and registration of a generic version of J&J/Janssen’s fixed-dose combination HIV treatment darunavir/ritonavir (DRV/r) for children.
Laurus Labs gets a “financial incentive” for a portion of the development and commercialization costs for the second- and third-line treatment, the joint press release said, without giving…
Novartis’ generics subsidiary Sandoz announced last week an agreement to acquire GSK’s cephalosporin antibiotics business for $350 million upfront, plus up to $150 million in milestones.
The deal includes rights in more than 100 markets to three established brands with combined 2020 sales of $140 million, according to Novartis.
Novartis also invested in antibiotic expansion last year.
A cystic fibrosis patient advocacy group has appealed to the U.N. Office of the High Commissioner for Human Rights over Vertex Pharmaceuticals’ drug pricing practices, alleging human rights violations that flout United Nations policies.
Prompted by a lack of access plans for newly approved Trikafta (elexacaftor in combination with tezacaftor and ivacaftor), the group hopes to prod Boston-based Vertex into licensing deals with generic drug makers for LMIC markets, according to STAT—an…
GSK subsidiary ViiV and the UN-backed Medicines Patent Pool announced Monday their signing of a “first-of-its-kind” voluntary licensing agreement to allow four upper-middle-income countries to buy generic versions of HIV regimens containing ViiV’s dolutegravir.
Under the deal terms, “selected generic manufacturers” can supply medicines recommended by WHO or the U.S. Department of Health and Human Services to Azerbaijan, Belarus, Kazakhstan and Malaysia at a “significantly reduced price…
Three investors have committed an initial $250 million to a new African pharma venture, promising “significant cost savings for healthcare providers” and a broader range of available drugs in underserved markets.
African investment firm Development Partners International, British impact investor CDC Group and the European Bank for Reconstruction and Development launched the project Tuesday with the announcement of two acquisitions: Egyptian generics manufacturer Adwia Pharmaceuticals…