Category — Healthcare
To boost its position in the global sterile injectables market, estimated at more than $40 billion and growing at a 10% annually, Illinois-based Baxter International acquired Ahmedabad, India-based Claris Lifesciences, that deals in the specialty injectables business, for $625 million. The deal will close in the second quarter of 2017.
Baxter CEO Joe Almeida said, “The Claris injectables acquisition will expand Baxter’s presence in the fast growing, global generic injectable pharmaceuticals space and accelerate our growth trajectory with high-value, essential medicines that will benefit patients worldwide.”
Claris is projected to have about $100 million in revenue this year, and the combined company will launch seven to nine new products a year in the short term and up to 15 products a year beyond 2019, reports FiercePharma.
March 15, 2017 No Comments
After exhaustive stakeholder consultations, the Government of India published the new medical device and in vitro diagnostic regulations (IVD) on Jan 31, 2017. The Medical Device Rules, 2017, issued by the Ministry’s Central Drugs Standard Control Organization, will replace India’s longstanding Drugs and Cosmetics Act upon implementation. The new rules will go into effect January 1, 2018.
- The new rules endorse a risk-based classification plan for medical devices and IVDs.
- Unique identification of medical devices and IVDs will be required by regulators, starting January 1, 2022.
- Licenses issued to device registrants will remain valid indefinitely, along with payments of license retention fees, unless cancelled or surrendered.
- The rules include fee revisions based on device classification.
- Test licenses will remain valid for three years (currently, these are valid for one-year periods).
- It is mandatory to have Notified Bodies (legal entities) conduct audits of device-manufacturing sites in India before manufacturing licenses can be issued.
- Licenses and registration certificates obtained prior to implementation of the new rules will remain valid either until expiry or after an 18-month period following implementation, whichever is later.
The Medical Device Rules 2017 in its entirety is available on request. Please use this link to get a copy.
February 11, 2017 No Comments
Illinois-based Ionic MSM Inc., a health and wellness firm, has setup a fully integrated production unit at Jaipur in the northwestern state of Rajasthan, to manufacture products based on an organic form of sulfur called methyl sulfonylmethane (MSM) for India and other Asian markets.
The new entity, Ionic MSM Ltd., is promoted by industrialist Dr. Santosh Kumar Bagla (not related to me!) who said that in India, the company had launched more than 40 products used in cosmetics, health care, pain management, and veterinary products, reports Business Standard.
The parent company estimates that the India and Asia markets will provide business worth $80 million in the next 5 years.
February 8, 2017 No Comments
The Indian Institute of Technology Madras located in Chennai, India has developed Asia’s first ‘life-saving’ implant called SynkroScaff — A tissue engineered bovine pericardial patch — for critical cardiovascular patients. A Chennai-based firm, SynkroMax Biotech, has been appointed as the commercial partner. C.V. Seshadri, managing director of Synkromax Biotech said, “This sack is harvested and processed with biomaterial for ten days followed by quality control parameters to ensure it is microbial free.”
The pericardial patch (sack of buffalo’s heart) has inherent properties of regeneration and integration in the body, and its medical application is based on innovator Guhathakurta’s doctoral research in the institute in 2004, under the guidance of Venkatesh Balasubramanian, professor, Department of Engineering Design. Guhathakurta says, “Its applications are immense in cardiovascular and other surgical practices. So far, 800 patches have been manufactured and over 12 surgeons are using them across India. The feedback from doctors and patients has been encouraging, with a 100 percent success rate,” she said, adding that the product is manufactured in a facility complying with drug applications and current good manufacturing practice (cGMP) guidelines, reports the New Indian Express.
December 29, 2016 No Comments
In an interview with the Economic Times’ Healthworld, Dr. Richard M. Eglen, vice president and general manager of Corning Life Sciences, discussed the company’s business growth in India.
On Corning Life Science’s business in India
Eglen: India is one of our fastest growing markets in the Asia Pacific region. As a market, India has shown great potential and continues to grow significantly and drive growth for Corning Life Sciences outside of the U.S. With India’s population slated to reach 1.4 billion by 2022 (per the 2015 UN Report on World Population), this growing population demands not only large-scale production of vaccines, but also research for newer vaccines relevant to India.
Corning’s bioprocess products provide a full range of tools to successfully perform vaccine scale-up and production. Our cell culture products are of great interest to Indian pharmaceutical companies.
On Corning’s India’s revenue share
Eglen: The total sale of Asia represents over 50% of Corning’s total sales of US $ 9.1 billion worldwide in 2015. We can also tell you that we have more than doubled our revenues in India since 2009. 2015 was our strongest performance in Corning Life Science India history and we have kept the momentum going in 2016.
On future plans for the Indian market
Eglen: The Indian pharmaceutical market is currently at $25 billion and is expected to continue to grow at a CAGR of 12% till 2020. India is 3rd largest pharmaceutical market in the world by incremental growth and 7th largest by volume which gives Corning Life Sciences an immense growth opportunity. We have opened a warehouse for life sciences products for Indian customers in Mumbai which shows our commitment to be a reliable supplier for our customers in India.
December 29, 2016 No Comments