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By EquityPandit

EquityPandit

EquityPandit
ECONOMY

Singapore, US Biggest FDI Source for India During April-September 2020

According to the commerce and industry ministry, US emerged as the second biggest source of foreign direct investment (FDI) into India, replacing the Mauritius, during the first half of the ongoing fiscal.
During April-September 2020, India has attracted FDI worth $7.12 billion from the US and $2 billion from Mauritius, holding the fourth position while in the same period last year Mauritius was the second biggest FDI source and US on the fourth, the data from DPIIT (Department for Promotion of Industry and Internal Trade) showed. 
Singapore with investments worth $8.30 billion continued to remain as a top source of FDI for India in H1FY21. Cayman Islands with $2.1 billion foreign inflows followed by Netherlands with $1.5 billion, UK with $1.35 billion, $1.13 billion from France, $653 million from Japan while $202 million from Germany and Cyprus with $48 million of investment in India.
According to the experts, the increasing inflows from US reflect to further strengthen the economic ties between both the countries. Despite that, Mauritius still accounts for 29 per cent of the total inflows in India in the form of FDI during April, 2000 and September, 2020.

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HEALTHCARE

Nasal Vaccine Gets Approval for Booster Doses

Neha Verma

Bharat Biotech’s intranasal vaccine will be used in India’s Covid-19 vaccination programme.

On December 23, 2022, Union Health Minister Mansukh Mandaviya said the vaccine was approved for booster doses because it is easy to administer.

The vaccine, iNCOVACC, will soon be available on the CoWin vaccination portal. Already, DCGI  has approved it as a booster and heterologous dose.

Bharat Biotech says iNCOVACC is stable at 2-8°C for easy storage and distribution. It can be given as a booster dose to people who have already received Covishield, Covaxin or any other Covid-19 vaccine approved in India.

According to the Ministry of Health, about 27% of the population over 12 has received a preventive dose, while 97% have received the first and 90% have received the second. To date, 223.5 million precautionary doses have been administered. Nearly 78% of those aged 18-59 still need to be covered, and 60% of those over 60 are not taking precautionary shots.

HEALTHCARE

Glenmark Pharma Signs Settlement Agreement with Pfizer Over Cancer Drug

Nilesh

On Tuesday, Glenmark Pharmaceuticals said it had reached a settlement with Pfizer over a cancer treatment drug.
The Mumbai-based drugmaker and its US subsidiary signed a settlement agreement with pharmaceutical giant Pfizer over Axitinib tablets (1 mg and 5 mg).


Glenmark’s product is a generic version of Pfizer’s Inlyta tablets used to treat kidney cancer. Based on IQVIATM sales data for the 12 months ending September 2022, annual sales of Inlyta tablets (1 mg and 5 mg) are approximately $644.5 million.


Glenmark said its current portfolio includes 177 products approved for the US market and 47 Abbreviated New Drug Applications (ANDAs) awaiting USFDA approval. Shares of the drugmaker rose 1.54% to Rs 417.9 per share on the BSE.

HEALTHCARE

Aurobindo Pharma Arm Gets USFDA Approval for Fungal Infection Treatment Injection

Nilesh

Aurobindo Pharma said on Friday that its wholly-owned subsidiary Eugia Pharma Specialties had received final approval from the United States Food and Drug Administration (USFDA) for amphotericin B liposomes injection. Injections are used to treat fungal infections.


The 50 mg/vial single-dose vial will be bioequivalent and therapeutically equivalent to the reference marketed drug from Astellas Pharma US, Inc. Aurobindo Pharma expects to launch the product in the March quarter of the current financial year.


Liposomal amphotericin B for injection is used to treat fungal infections such as cryptococcal meningitis and visceral leishmaniasis. This is a collaborative product of TTY BioPharm Company Ltd, which will be manufactured at its Taiwan factory and sold by Eugia Pharma.

According to IQVIA, the market size of injection is estimated to be approximately $145 million for the 12 months ending September 2022.


This is the 152nd Abbreviated New Drug Application (ANDA) approved by the USFDA, including ten tentative approvals, from the Eugia Pharma Specialty Group facility, which manufactures oral and sterile speciality products.


Earlier this week, Aurobindo Pharma announced that its manufacturing facility located in the Srikakulam district of Pydibhimavaram Srikakulam in Andhra Pradesh received the USFDA’s Establishment Inspection Report (EIR). Shares of Aurobindo Pharma closed 1.1% lower at Rs 468.95.

HEALTHCARE

Bajaj Healthcare Completes USFDA Pre-Approval Inspection of Vadodara Facility

Nilesh

On Friday, Bajaj Healthcare Ltd said it has successfully completed a pre-approval inspection by US health regulators at its active pharmaceutical ingredient plant in Vadodara, Gujarat.


The regulatory filing says that from November 14, 2022, to November 17, 2022, USFDA will come for a pre-approval inspection at Bajaj Healthcare Ltd (BHL).


The company manufactures APIs (active pharmaceutical ingredients), intermediates and formulations; it said the FDA pre-approval inspection was successfully completed with zero Form 483 observations at the manufacturing facility.


Form 483 is issued to corporate management after the inspection when investigators discover anything that may constitute a violation of the Food, Drug, and Cosmetic (FD&C) Act and related acts.

HEALTHCARE

Pfizer Says COVID-19 Vaccine Will Cost $110-$130 Per Dose

Nilesh

Pfizer will charge $110 to $130 for a dose of its COVID-19 vaccine once the US government stops buying the vaccine, but the drugmaker said it expects many people to continue to get it for free.


Pfizer executives said that commercial pricing for adult doses could begin early next year, depending on when the government plans to phase out the purchase and distribution of the vaccine. The drugmaker expects people with private health insurance or covered through public programs like Medicare or Medicaid will pay nothing. The Affordable Care Act requires insurance companies to cover many recommended vaccines for free. A spokesman said that the company also has an income-based assistance programme that helps uninsured eligible US residents get vaccinated.


A Pfizer executive said Thursday that the price reflects the increased cost of moving to single-dose vials and commercial distribution. Executive Angela Lukin said the price was well below the threshold for “being considered a highly effective vaccine.”


Pfizer’s two-shot vaccine debuted in late 2020 and is easily the most common preventive vaccine against COVID-19 in the United States.

According to the Centres for Disease Control and Prevention, the original vaccine developed by Pfizer with German drugmaker BioNTech has distributed more than 375 million doses in the United States.


That doesn’t include another 12 million doses of the updated booster approved earlier this year. The drugmaker’s best-selling product is the vaccine, which brought in $36.78 billion for Pfizer last year. According to the CDC, more than 90% of US adults have received at least one dose of the COVID-19 vaccine. But only about half of the population also received a booster dose.

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