New Delhi, Mar 11 () Biotechnology major Biocon on Wednesday said a US court has invalidated a Sanofi patent on the insulin glargine device, thus removing a legal hurdle to commercialising Semglee co-developed with Mylan, in the US market.The US District Court of New Jersey found the device patent claims asserted by Sanofi against Biocon and Mylan's insulin glargine product 'not infringed' and 'invalid' for lack of written description, Biocon said in a filing to the BSE.As previously announced, Sanofi's formulation patents were earlier affirmed to be invalid by the Federal Circuit, it added. The new drug application (NDA) for Semglee is under active review by the US Food and Drug Administration (USFDA), Biocon said.The US health regulator has set a target action date for the insulin glargine application in June 2020. The market opportunity for insulin glargine in the US is estimated at USD 2.2 billion, it added."We are extremely pleased with the US court ruling in favour of our insulin glargine device as this takes us closer towards bringing a more affordable insulin glargine for patients with diabetes in the US," Biocon Biologics CEO Christiane Hamacher said. Today, patients in parts of Europe, Australia, India and key emerging markets are already benefiting from our insulin glargine, she added. "Once approved and commercialized our Semglee will expand access to this therapy," Hamacher said. Insulin glargine is a long-acting insulin used to treat adults with Type 2 diabetes and adults and paediatric patients with Type 1 diabetes for the control of high blood sugar, Biocon said. "In October 2017, Sanofi had initiated patent infringement litigation against our NDA in the US District Court for the District of New Jersey that included the formulation patents covering insulin glargine as well as patent covering the insulin glargine injection pen, triggering a 30-month stay on the product's approval," it added. Shares of Biocon closed at Rs 296.40 per scrip on BSE, down 1.50 per cent from the previous close. AKT AKT ANUANU

Biocon, Mylan win patent litigation against Sanofi in US for insulin glargine device

New Delhi, Dec 12 () Biotechnology major Biocon and US-based biotechnology firm Equillium Inc on Thursday said they have expanded exclusive licensing agreement for itolizumab to include Australia and New Zealand.
Equillium had originally secured exclusive rights to develop and commercialise Biocon's novel biologic, itolizumab, for the US and Canada markets in May 2017, the companies said in a joint statement.
The companies have expanded their collaboration and license agreement for itolizumab to grant Equillium exclusive rights for developing and commercialising itolizumab in Australia and New Zealand, it added.
"Biocon is pleased with the development progress of itolizumab achieved by Equillium so far and has agreed to include Australia and New Zealand within the scope of the licensing agreement," Biocon CEO and Joint MD Siddharth Mittal said.
Biocon had partnered with Equillium in 2017, for itolizumab, to develop it for a wide range of autoimmune disorders, the statement said.
"We are pleased to deepen our relationship with Biocon by expanding our licensing agreement for itolizumab," Equillium President and Chief Business Officer Bruce Steel said.
Itolizumab is a novel first-in-class humanized anti-CD6 monoclonal antibody, which Biocon developed and launched in India under the brand name Alzumab to treat moderate to severe plaque psoriasis in 2013, the statement said.
Shares of Biocon Ltd closed at Rs 293 per scrip on BSE, up 0.90 per cent from its previous close. AKT BAL

Biocon, Equillium expand licensing pact for Itolizumab to include Australia, New Zealand

New Delhi, May 15 () Biotechnology major Biocon has reported a 42 per cent decline in its consolidated net profit to Rs 123 crore for the quarter ended March 2020, mainly on account of one-time coronavirus-related impact on its biologics business. The company had posted a net profit of Rs 214 crore for the corresponding period of the previous fiscal, Biocon said in a statement. Consolidated total income of the company rose up by 6 per cent to Rs 1,644 crore as against Rs 1,557 crore for the same period year ago, it added. "Q4FY20 witnessed a muted growth of 6 per cent with revenues at Rs 1,644 crore due to operational challenges including one-time COVID-19 related impact on our biologics business," Biocon Executive Chairperson Kiran Mazumdar-Shaw said. Small molecules and research services businesses, however, delivered robust growth of 15 per cent and 14 per cent, respectively, she added. Consolidated net profit for the fiscal year ended March this year stood at Rs 748 crore. It was Rs 905 crore for the same period year ago, Biocon said. Total income of the company rose to Rs 6,529 crore for the fiscal year ended March 2020 as against Rs 5,659 crore for the same period year ago, it added. "On a full-year basis, we reported a revenue growth of 15 per cent led by a strong performance by biologics, which grew by 29 per cent, small molecules by 18 per cent and research services by 10 per cent. We believe that the Biologics business will recover in Q1FY21 and fully normalise from Q2FY21," Mazumdar-Shaw said. Net profit, before the exceptional item, was at Rs 760 crore, a growth of 4 per cent, she added. "We are dealing with unprecedented challenges related to COVID-19 and as a science-led company we are engaged in several initiatives spanning diagnostic tests, vaccines and therapies towards combating COVID-19," Mazumdar-Shaw said. Shares of Biocon were trading at Rs 323.50 per scrip on BSE, down 3.52 per cent from their previous close. AKT ANSANS

Biocon Q4 net profit falls 42 pc to Rs 123 cr due to one-time COVID-19 impact

Being able to bear the cost of critical illness drugs is still a big issue in India. Biosimilars (approved version of complex biological drugs) and other life saving drugs have had a little reduction in prices over the years. Even the government hasn’t taken any big measures to bring the price down. 
 Notably, ceiling prices are fixed by <keyword id="312730" type="ORGANIZATION" weightage="20" keywordseo="NPPA">NPPA</keyword> based on a simple average of price to retailer of products of companies with over 1% market share. 
 "Given this methodology, wherever the innovator has had an almost monopoly position, the price reduction before and after price control has not been significant. Therefore, given the same methodology being in force, a ceiling price revision after two years can be expected to bring about a further reduction consequent to more players participating in the market and offering products at competitive prices. Ceiling prices help focus on competitiveness, and also facilitate growth of the market, driven by greater affordability for patients," K V Subramaniam, president and CEO, <keyword id="6672294" type="COMPANY" weightage="20" keywordseo="Reliance-Life-Sciences">Reliance Life Sciences</keyword>, said. 
 
In many cases, innovator price and ceiling price are very similar indicating the methodology which is based on average MRPs of the brands and is faulty, according to industry experts. 
 "The system devised by NPPA of fixing prices encourages companies to artificially keep prices high, and hence, works against patients and consumer interests, leaving essential <keyword id="6375143" type="ORGANIZATION" weightage="20" keywordseo="medicines">medicines</keyword> out of reach for most. Pharma companies charge high premiums for branded biological medicines, such as anti-cancer drug trastuzumab to maximise profits. Ironically, the benefits of generic production are not trickling down. The government has allowed both multinational and generic countries to profiteer out of the disease of people, driving millions of patients to death," <keyword id="161330" type="PERSON" weightage="20" keywordseo="Leena-Menghaney">Leena Menghaney</keyword>, treatment activist and lawyer, told ET. 
 "The cost of biosimilars needs to be viewed in the context of global prices of these expensive biologics which are being provided in India at a fraction of their original cost. The cost of developing a biosimilar ranges between $50-150 million in comparison to a generic which costs around $3-5 million. The scale-up of manufacturing is extremely difficult and expensive unlike small molecule generic. In such a scenario, it will not be fair to expect a price fall in the range witnessed in small molecule generics. More importantly, companies offer further discounts for bulk orders through tenders which makes them cheaper than the ceiling price as well," Kiran Mazumdar Shaw, CMD, <keyword id="6358361" type="CITY" weightage="20" keywordseo="Biocon">Biocon</keyword>, told ET. 
 
Many countries like the US are now persuing legislation which will force companies to either disclose their R&amp;D cost or explain pricing. This would be really helpful in making the pricing transparent. 
 However, there is a section which feels that price control alone cannot improve access. "Competitive pricing, local production and compulsory licensing will drive down prices", says <keyword id="138097" type="ORGANIZATION" weightage="20" keywordseo="Indian-Pharmaceutical-Alliance">Indian Pharmaceutical Alliance</keyword> secretary general D G Shah. 
(image: indiatimes)

Most Indians are still unable to buy critical illness drugs, here’s why

Further boosting investors’ confidence in the company, <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword>’s biotechnology major <keyword id="158724" type="COMPANY" weightage="20" keywordseo="Biocon-Ltd">Biocon Ltd</keyword> has appointed scientist and Nobel laureate Dr Vijay Kuchroo and industry veteran Dr Jeremy M Levin as the additional independent directors of the company. 
	 
	Currently, Dr Kuchroo is the Samuel L Wasserstrom professor of Neurology at Harvard Medical School, senior scientist at Brigham and Women’s Hospital as well as the co-firector of the Center for Infection and Immunity, Brigham Research Institutes, Boston. 
	 
	“I welcome Vijay to the Biocon board. As a member of Biocon’s Clinical Advisory Board, Vijay has been providing valuable inputs on the company’s R&amp;D programs in auto-immunity. His scientific expertise in autoimmunity and oncology will help us as we seek to bring our R&amp;D programs to patients globally,” said Kiran Mazumdar Shaw, chairman of Biocon Ltd. 
	 
	On his appointment as the additional independent director, Dr Kuchroo said, “Biocon is a dynamic biopharmaceutical company with an eye on the future. The company’s research into innovative biologics – unique among Indian companies - has the potential to not only benefit patients in India, but also globally. Biocon is conducting interesting research in the field of autoimmune diseases and can play a crucial role in transforming the future of cancer and neurological diseases through its research in immunotherapy. A breakthrough will be particularly beneficial for India, which is seeing an increase in morbidities specifically in cancer.” 
	 
	At present, Dr Kuchroo has 25 patents and serves on the scientific advisory boards of a large number of big pharmaceutical companies across the world. “As an advisor to Biocon, Dr Kuchroo has made significant contributions towards scientifically positioning Itolizumab developed by Biocon, as a potential novel therapeutic for autoimmune diseases,” added Shaw. 
	 On the other hand, the company has successfully got award-winning business leader Dr Jeremy M Levin on its board. Dr Levin is considered to be among the top 25 influential people in the industry. Currently, he is the chairman of New York-based private company, Ovid Therapeutics Inc. He has previously served as the CEO of <keyword id="277008" type="COMPANY" weightage="20" keywordseo="Teva-Pharmaceuticals">Teva Pharmaceuticals</keyword>, one of the largest generic pharmaceutical companies in the world. 
	 
	Commenting on his appointment, Shaw said, “I welcome Jeremy to the Biocon board, he is an exceptional business leader with a deep understanding of the pharmaceutical and biotech industry. His expertise in leading companies, driving business development and company strategy to bring effective treatments to patients worldwide, augurs well for us. We look forward to his valuable contribution towards enabling Biocon make a strong impact on global health.” 
	 
	It should be noted that with two of the most credible and distinguished personalities of the global healthcare industry on board, Biocon has reiterated its strong growth in the industry. 
	 
	Image: Wikipedia

Biocon
Brings Dr Vijay Kuchroo And Dr Jeremy Levin On Board

The <keyword id="6360667" type="General" weightage="20" keywordseo="madras-high-court" source="Orion">Madras High Court</keyword> on Thursday stayed two sub-sections under <keyword id="10826959" type="General" weightage="20" keywordseo="IT-rules-2021" source="Orion">IT Rules 2021</keyword>'s Rule 9, which provide for a three-tier structure for addressing the grievances made in relation to publishers, under the Code of Ethics annexed to the rules. A bench of Chief Justice Sanjib Banerjee and Justice P.D. Audikesavulu passed the order on two petitions that were filed challenging the validity of the <keyword id="645424" type="General" weightage="20" keywordseo="it-rules" source="Orion">IT Rules</keyword>. Carnatic musician T.M. Krishna had filed a public interest litigation, while the Digital News Publishers Association, and journalist Mukund Padmanabhan had also filed a writ petition in the matter. "There is a substantial basis to the petitioners' assertion that there may be a violation of Article 19 (1)(a) (of the Constitution) in how the Rules may be coercively applied to intermediaries....," the court observed. Earlier, the same sub-section of Rule 9 had been stayed by the Bombay High Court on August 14. With the Supreme Court scheduled to take up transfer petitions next month, the Madras High Court posted further hearing of the case to October 27. SEE ALSO <a href="https://www.businessinsider.in/careers/news/the-only-way-to-beat-the-bots-from-taking-your-job-is-to-be-more-human/articleshow/86282273.cms" data-type="tilCustomLink">Future of Work 2021: The only way to beat the bots from taking your job is to be more human</a> <a href="https://www.businessinsider.in/stock-market/news/biocon-hero-motocorp-tvs-motor-banks-and-other-top-stocks-to-watch-out-for-on-september-17/articleshow/86281250.cms">Biocon, Hero MotoCorp, TVS Motor, banks and other top stocks to watch out for on September 17</a> <a href="https://www.businessinsider.in/business/news/biocon-biologics-to-offer-15-stake-to-serum-institute-life-sciences-at-valuation-of-4-9-billion/articleshow/86281318.cms">Biocon Biologics to offer 15% stake to Serum Institute Life Sciences at valuation of $4.9 billion</a>

Madras High Court stays 2 sub-sections of the new IT Rules

<ul><li>The company’s stock was trading at around ₹714 in early trading hours on Friday.</li><li>The development comes a day after <keyword id="5030468" type="General" weightage="20" keywordseo="easemytrip" source="Orion">EaseMyTrip</keyword> expanded its international footprint to the US, Philippines and Thailand.</li><li>The company had doubled its net profit to ₹61.4 crore in the financial year 2021.</li></ul>Publicly-listed travel ticketing app EaseMyTrip has hit $1 billion in market capitalisation earlier on Friday, September 17. The company’s stock was trading at ₹714.15 at 9:38 a.m., on Friday. That’s when the company’s market cap crossed the ₹7,300 crore threshold. Shares of the travel tech startup, which goes by the name Easy Trip Planners, were trading at ₹663.55 at 11:10 a.m., on Friday as its market cap dropped to ₹7,215 crore ($981 million). The development comes a day after EaseMyTrip expanded its international footprint in the United States, The Philippines and Thailand. The company has forayed into new countries anticipating a huge pent-up global travel demand in the coming months, the company said in its regulatory filings. Aloke Bajpai, founder and chief executive of another travel tech startup ixigo, congratulated EaseMyTrip on achieving this benchmark. Like EaseMyTrip, rival ixigo is also planning to hit the public markets this year and has filed the preliminary papers for its<a href="https://www.businessinsider.in/business/startups/news/travel-app-ixigo-files-for-a-1600-crore-ipo/articleshow/85292327.cms"> ₹1,600 crore</a> initial public offering (IPO). <div type="twitter" handle="alokebajpai" handlename="Aloke Bajpai" image="http://pbs.twimg.com/profile_images/1285439472339791873/wki9K2bg_normal.jpg" favoritecount="78" retweetcount="16" status="Congratulations to @EaseMyTrip @nishantpitti @rikantpitti @ppitti for hitting $1 Bn market cap in the public market… https://t.co/Ow4gE1YSKW" createdat="1631853920000" id="1438725735686959106"></div> Earlier this month, Anand Rathi had issued a buy call on Easy Trip Planners with a target price of ₹550. At the time, the company’s stock was trading at ₹462.35. <div type="image" title="EaseMyTrip touches market cap of a billion dollars" msid="86285944" hostid="261"></div> Founded in 2008 by Nishant Pitti, Prashant Pitti and Rikant Pitti, EaseMyTrip offers deals on flight booking, hotels and holiday packages. The company has been one of the few bootstrapped startups to hit the public market and has been profitable as well. The company even doubled its net profit to ₹61.4 crore in the financial year 2021, when the entire travel segment was brought down to its knees due to COVID-19. Its revenue, however, declined to ₹150 crore from ₹181 crore reported in FY20. SEE ALSO <a href="https://www.businessinsider.in/careers/news/the-only-way-to-beat-the-bots-from-taking-your-job-is-to-be-more-human/articleshow/86282273.cms">Future of Work 2021: The only way to beat the bots from taking your job is to be more human</a> <a href="https://www.businessinsider.in/stock-market/news/biocon-hero-motocorp-tvs-motor-banks-and-other-top-stocks-to-watch-out-for-on-september-17/articleshow/86281250.cms">Biocon, Hero MotoCorp, TVS Motor, banks and other top stocks to watch out for on September 17</a> <a href="https://www.businessinsider.in/business/news/biocon-biologics-to-offer-15-stake-to-serum-institute-life-sciences-at-valuation-of-4-9-billion/articleshow/86281318.cms">Biocon Biologics to offer 15% stake to Serum Institute Life Sciences at valuation of $4.9 billion</a>

EaseMyTrip touches market cap of a billion dollars

<ul><li>Half of the billionaires, including Mukesh Ambani, Radhakishan Damani, Gautam Adani, Cyrus Poonawalla, saw significant gains in their wealth. </li><li>The biggest percentage gainer was 67-year old Kiran Mazumdar-Shaw, Biocon founder and the second richest woman in India. </li><li>While Biocon has joined the race to discover the vaccine, Shaw was not immune to COVID-19. She tested positive in August and recovered in a fortnight. </li></ul>India’s super-rich club of 100 people has added nine new faces and about $88 billion collectively during the coronavirus pandemic — which is assumed to be far worse than the Great Depression. Half of the billionaires, including Mukesh Ambani, Radhakishan Damani, Gautam Adani, Cyrus Poonawalla saw significant gains — taking the collective net worth of 100 billionaires to $517.5 billion, <a href="https://www.forbes.com/sites/naazneenkarmali/2020/10/07/indias-100-richest-2020-collective-net-worth-of-countrys-richest-rose-14-despite-pandemic/#2cf4d5e93da4">Forbes reported. </a> The biggest percentage gainer was 67-year old Kiran Mazumdar-Shaw, Biocon founder and the second richest woman in India. Her wealth has nearly doubled from $2.38 billion in 2019 to $4.6 billion in 2020 — a whopping 93.28% gain among India's 100 richest. She is one of the only five women billionaires in India. <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword> started her Indian-based pharma company about 42 years ago with merely two employees and $500 funds. However, it was not until 2014 that her company became a publicly-traded entity. It touched the $1billion mark on the very day it listed. Over the past decade, Biocon has grown by leaps and bounds to become a $5 billion company. In just the last 12 months, Biocon’s share price has surged 99% from ₹233 in October 2019 to ₹464.70 currently. <div type="image" title="Biocon11" msid="78569590" hostid="261"></div> While her company has joined the race to discover a vaccine to fight the virus, Shaw wasn’t immune to it. On August 16, she tested positive for COVID-19 and recovered 15 days later. Shaw has been vocal about leveraging science to contain the virus. Three months after coronavirus broke out in India, Biocon announced that it would launch biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients at a price of around ₹8,000 per vial. The pharmaceutical is set to begin the phase-4 trials of the potential drug. Well, Shaw might have gained the most, but Mukesh Ambani’s record gains have left everyone behind. He remains India’s richest man for the 13th year in the running and leads by a large margin. Ambani added $37.3 billion to his fortune, thanks to the trail of investments in Reliance Jio and his retail venture. Jio alone got $20 billion investments from investors like Google, Facebook, and Microsoft. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tcs-beats-accenture-to-become-the-worlds-most-valuable-it-services-company/articleshow/78566487.cms">TCS beats Accenture to become the world’s most valuable IT services company — but this not the first time it has raced ahead</a>

India’s second richest woman nearly doubles her wealth to $4.6 billion during the COVID-19 pandemic

<ul><li>A PwC report predicts that 30% of the <keyword id="11018" type="General" weightage="20" keywordseo="jobs" source="Orion">jobs</keyword> will be automated by the mid-2030s.</li><li>However, <keyword id="25725" type="General" weightage="20" keywordseo="Ronnie-Screwvala" source="Orion">Ronnie Screwvala</keyword> believes that saying that <keyword id="1044234" type="General" weightage="20" keywordseo="bots" source="Orion">bots</keyword> are going to replace humans is rather a simplistic way of seeing things.</li><li>The key is to make oneself into a 360 degree person, armoured by both soft and hard skills, he noted.</li></ul>We have been warned for many years that technology will take over the world in decades to come and most of our jobs will become redundant. It’s definitely a scary thought, isn’t it? Well, serial entrepreneur and founder of a billion dollar edtech company Ronnie <keyword id="652420" type="General" weightage="20" keywordseo="screwvala" source="Orion">Screwvala</keyword> has a slightly different take on it. In a conversation with Business Insider during its Future of Work event, Screwvala noted that the world is in the fourth era of industrial revolution and many things are bound to change. However, he is of the opinion that saying that “bots are going to replace the workforce is rather a simplistic way of seeing things”. The jobs of tomorrow would lay emphasis on soft skills of an individual as hard skills can easily be managed by technology. <div type="ExtQuote" text="“When everyone says that you’re unemployable, it’s not because you don’t have the knowledge base. It’s because you don’t know what to do with that knowledge, you can’t communicate with that knowledge, you can’t collaborate with that knowledge… If you want to solve our employment problems today, people will have to be substantially entrepreneurial driven.”" auname="— Ronnie Screwvala, serial entrepreneur and chief executive of upGrad, said in Business Insider’s Future of Work event."></div> If you are not able to communicate, analyse, participate — it is going to be very difficult for the information age, he added. The key is to make oneself into a “360 degree person”, armoured by both soft and hard skills. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> A few examples of soft skills include critical thinking, complex problem-solving, resilience, flexibility, creativity, originality, initiative and emotional intelligence. Ashutosh Garg, founder and chief executive (CEO) of artificial intelligence-powered talent management company eightfold.ai, also attended Business Insider’s Future of Work event. He noted that there are multiple aspects to saying whether automation is going to replace humans in their jobs. The first of those aspects is whether artificial intelligence (AI) is ready for it. According to Garg, AI is not developed enough to be at that stage, however it has the potential of getting there in the future. Again, some jobs may have to work in alignment with this deeptech technology. “I can put it on autopilot and be feasibly comfortable. So things are improving a lot. Now let's take sales as an example. I'm trying to hire a salesperson, I will start evaluating this person based on their emotional touch. Are they going to be able to close the deal or not, can they negotiate with the buyer or not?” he noted. According to a PwC <a href="https://www.pwc.com/hu/hu/kiadvanyok/assets/pdf/impact_of_automation_on_jobs.pdf">report </a>which estimates that 40% of jobs can be automated in the next 15 years, digital and softer skills are going to be the demand of the new age businesses. In 2017, <a href="https://www.deakinco.com/uploads/Whitepaper/deloitte-au-economics-deakin-soft-skills-business-success-170517.pdf">Deloitte</a> also reported that "soft skill-intensive occupations will account for two-thirds of all jobs by 2030." According to a<a href="https://www.muchskills.com/blog/soft-skills-skills-of-the-future"> blogpost </a>by Sweden-based HR-tech platform MuchSkills, the new age technologies — like artificial intelligence (AI), machine learning (ML) or robotics — can automate a number of human tasks, they will not be able to replicate emotional, social and cognitive skills imbibed by humans. “Between 1980 and 2012, jobs requiring high levels of social interaction grew by nearly 12 percentage points as a share of the US labour force. Math-intensive but less social jobs – including many STEM occupations – shrank by 3.3 percentage points over the same period,” wrote David J Deming in a paper titled<a href="https://scholar.harvard.edu/files/ddeming/files/deming_socialskills_may2017_final.pdf"> The Growing Importance Of Social Skills In The Labor Market</a>. Prior to this, India’s Prime Minister Narendra Modi had<a href="https://timesofindia.indiatimes.com/india/stop-demonising-tech-says-pm-narendra-modi-while-backing-ai/articleshow/71679298.cms"> emphasised</a> that AI is not going to take away jobs, but would be a talent and force multiplier. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/biocon-hero-motocorp-tvs-motor-banks-and-other-top-stocks-to-watch-out-for-on-september-17/articleshow/86281250.cms">Biocon, Hero MotoCorp, TVS Motor, banks and other top stocks to watch out for on September 17</a> <a href="https://www.businessinsider.in/business/news/biocon-biologics-to-offer-15-stake-to-serum-institute-life-sciences-at-valuation-of-4-9-billion/articleshow/86281318.cms">Biocon Biologics to offer 15% stake to Serum Institute Life Sciences at valuation of $4.9 billion</a> <a href="https://www.businessinsider.in/retail/news/sam-adams-will-craft-beer-using-hops-sent-into-earths-orbit-on-spacexs-inspiration4/articleshow/86277750.cms">Sam Adams will craft beer using hops sent into Earth's orbit on SpaceX's Inspiration4</a>

Future of Work 2021: The only way to beat the bots from taking your job is to be more human

New Delhi, Apr 18 () COVID-19 will reboot the world into virtual reality and after the crisis, work from home models are likely to continue and business travel is likely to be curtailed as virtual meetings have proved to be just as effective, Biocon Executive Chairperson Kiran Mazumdar-Shaw on Saturday said. In a blog post, she said mobile and internet banking have also seen a surge since the viral outbreak. The new world order will now become a virtual reality, she added. "The seismic events unleashed by the COVID-19 pandemic will have a powerful impact on the world we live in, changing it in ways we had never imagined were possible. The economic damage is likely to be unprecedented," Mazumdar-Shaw said. The world economy, worth USD 90 trillion at the start of the current financial year, would have lost USD 5 trillion and moved into recession by the time the next financial year starts, she added. "COVID-19 is the reboot button that will trigger a system-wide overhaul. A year from now, the world we will live in will be very different. It will impact how we live, how we work, and how we use technology," Mazumdar-Shaw said. To quote a recent McKinsey report, "In this unprecedented new reality, we will witness a dramatic restructuring of the economic and social order in which business and society have traditionally operated," she added. This COVID-19 outbreak is a lesson that technology has many faces and being besotted with only one application of computational science is dangerous, Mazumdar-Shaw said. "For humanity to survive, we will need a multi-disciplinary approach to advancing science and technology, combining biotechnology, biomedical technologies, biological sciences, environmental sciences, etc," she added. The novel coronavirus has exposed the huge shortcomings in public healthcare systems, especially in developed countries where they have largely remained static since World War II, she added. Mazumdar-Shaw said the governments will have to bring in policies to address essential healthcare infrastructure, strategic reserves of key supplies, and contingency planning for medical equipment, diagnostics, drugs and vaccines. "COVID-19 will also cast a long shadow on our social and cultural lives," she added. What repercussions these changes will have on the shape of human society only time can tell, Mazumdar-Shaw said. The post-COVID-19 world is unlikely to look like the "normal" we have grown accustomed to in the recent years, she added. "Ultimately, the greatest lesson that COVID-19 can teach humanity is that we are all in this together, that what affects a single person anywhere affects everyone everywhere, that as homo sapiens we need to think and act unitedly rather than worrying about race, ethnicity, nationality, religion, economic status, and such artificial groupings," Mazumdar-Shaw said. AKT HRS

COVID-19 will reboot world into virtual reality: Kiran Mazumdar-Shaw

<ul><li>Covishield, Oxford’s coronavirus vaccine candidate being tested by Serum Institute of India in the country, could be ready as early as December. </li><li>Dr Reddy’s Laboratories on October 28 said that phase 3 trials of Russia’s <keyword id="8904563" type="UNKNOWN" weightage="20" keywordseo="covid-19-vaccine">COVID-19 vaccine</keyword>, Sputnik V, is likely to be finished by the end of March next year. </li><li>PM Modi has <a href="https://www.indiatoday.in/india/story/pm-narendra-modi-on-coronavirus-vaccine-distribution-1736090-2020-10-29">assured </a>that every Indian citizen will be vaccinated and no one will be left behind once a vaccine is available. </li></ul>Scientists are still looking for a cure for the deadly coronavirus, which has infected millions of people around the world. Two of the front runners in the race of vaccine — Moderna and Pfizer — are expected to launch their COVID-19 antidote by December. Whereas, Oxford-AstraZeneca’s vaccine is triggering an immune response for both young people and adults. The overall number of global coronavirus cases is nearing the 44 million mark, while the deaths have increased to more than 1,173,270,, according to Johns Hopkins University. There are over 100 potential vaccine candidates being tested on volunteers globally. In India, three vaccines are in advance trials. In India, 3 vaccines are under advanced stage trials while 4 others are in preclinical stages. PM Modi has <a href="https://www.indiatoday.in/india/story/pm-narendra-modi-on-coronavirus-vaccine-distribution-1736090-2020-10-29">assured </a>that every Indian citizen will be vaccinated and no one will be left behind once a vaccine is available. Oxford’s COVID-19 vaccine to be ready by December, SII to seek emergency licence Covishield, Oxford’s coronavirus vaccine candidate being tested by Serum Institute of India in the country, could be ready as early as December. "If we don't go for an emergency license, our trials should be over by December and then we can maybe launch in India in January subject to the UK trial, which is on the verge of being completed," <a href="https://www.ndtv.com/india-news/adar-poonawalla-coronavirus-vaccine-batch-1-likely-by-middle-of-next-year-2316971">Adar Poonawalla told NDTV in an interview.</a> However, Poonawalla believes data from UK clinical trials is going to play a key role in determining the further status. Dr Reddy’s says Phase 3 trials of Sputnik V will be over by March Dr Reddy’s Laboratories, on October 28, said that phase three trials of Russia’s COVID-19 vaccine, Sputnik V, is likely to be finished by the end of March next year. "Phase-3, we should finish somewhere by March, and then of course, it depends on the ability to compile the data, obtain the approvals, etc. It can be as early as the end of March or April /May and beyond. It depends on the results. It's a combination of phase-2, global phase-3 and phase-3 in India,"<a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/dr-reddys-hopes-to-finish-phase-3-trials-of-covid-19-vaccine-by-march-may/articleshow/78917320.cms"> Dr Reddy’s CEO Erez Israeli said.</a> Dr Reddy’s will test the vaccine on 100 volunteers for phase 2 trials, and is likely to recruit 1,400 volunteers in the phase 3 trials. Bharat Biotech is looking to raise manufacturing capacity above 500 million doses Bharat Biotech — one of three companies conducting advanced stage trials in India for its COVID-19 vaccine candidate — says it is producing Covaxin at its own risk. <a href="https://indianexpress.com/article/business/economy/trying-to-raise-manufacturing-capacity-above-500-million-doses-as-soon-as-possible-bharat-biotech-executive-director-6883341/">According to Bharat Biotech executive director Sai Prasad</a>, the pharma company has a manufacturing capacity of 150 million doses per year. However, it is looking to increase “capacity north of 500 million doses as soon as possible.” Bharat Biotech is looking at developing a new facility in Hyderabad — adjacent to the existing one. Biological E to begin phase I and phase II human trials of its <keyword id="9171681" type="UNKNOWN" weightage="20" keywordseo="Covid-19-vaccine-in-India">COVID-19 vaccine in India</keyword> Hyderabad-based Biological E <a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/biological-e-gets-nod-for-human-trials-of-covid-19-vaccine/articleshow/78919542.cms?from=mdr">got </a>the approval to conduct phase I and phase II human trials of its COVID-19 vaccine in India. The pharma company has partnered with an unidentified firm to conduct the trials, according to ET. Third phase human trial of COVID-19 vaccine to commence in Bhubaneswar soon The third phase of the human trial of the indigenous vaccine against COVID-19, COVAXIN, will commence at a private hospital in Bhubaneswar soon. Like the previous phases, half of the volunteers would receive placebo and the remaining half would be administered COVAXIN in this phase. Even health care workers would be recruited for the trial. The volunteers would be followed up over a considerable period of time to look at the efficacy of the vaccine in preventing the development of the Corona disease, according to Dr. E Venkata Rao, Principal Investigator in the COVAXIN human trial Bharat Biotech is looking to raise manufacturing capacity above 500 million doses Bharat Biotech — one of three companies conducting advanced stage trials in India for its COVID-19 vaccine candidate — says it is producing Covaxin at its own risk. <a href="https://indianexpress.com/article/business/economy/trying-to-raise-manufacturing-capacity-above-500-million-doses-as-soon-as-possible-bharat-biotech-executive-director-6883341/">According to Bharat Biotech executive director Sai Prasad</a>, the pharma company has a manufacturing capacity of 150 million doses per year. However, it is looking to increase “capacity north of 500 million doses as soon as possible.” Bharat Biotech is looking at developing a new facility in Hyderabad — adjacent to the existing one. SII finishes phase II trials of Oxford’s COVID-19 vaccine candidate in Mumbai Serum Institute of India (SII) and the Brihanmumbai Municipal Corporation have completed phase II trials of Oxford-AstraZeneca's COVID-19 vaccine candidate in Mumbai. The civic body is soon going to begin the third phase. “With the approval, we will be able to start the third phase of the trial once the first set of volunteers complete 28 days of the first vaccination. As per ICMR (Indian Council of Medical Research), the third trial can only be conducted on volunteers after a gap of 28 days,” said Suresh Kakani, additional commissioner, BMC. Every Indian citizen to get free COVID-19 vaccine, claims Union Minister Pratap Sarangi Union Minister Pratap Sarangi, on October 26, said that all people of the country would be given a free COVID vaccine. This comes amidst the demand by opposition parties to BJP to not use the vaccine as a<a href="https://www.businessinsider.in/india/news/bihar-election-manifesto-bharatiya-janata-party-bjp-promises-free-covid-vaccine-for-everyone/articleshow/78803796.cms"> poll promise </a>to win Bihar elections. The BJP announcement of free COVID vaccine for Bihar, where assembly polls begin this week, had kicked up a controversy with the opposition parties tearing into the NDA government, alleging that the ruling party was using the pandemic for political reasons. Union Finance Minister Nirmala Sitharaman had said the announcement was in order as it was an election manifesto announcement. Prime Minister Narendra Modi has announced that all people will be provided free of cost vaccines. An estimated ₹500 will be spent on vaccination of each person, Sarangi told reporters after addressing a campaign meeting for the November 3 assembly by-poll in Balasore. Intranasal vaccine will be easier to deliver, says Biotech founder Kiran Mazumdar Shaw In India, the intranasal vaccine will be easier to deliver than intramuscular injection, said Biocon’s Kiran Mazumdar Shaw. "Indeed intranasal vaccines will be far easier to deliver than intramuscular injections n Asha workers can be trained to deliver it at mass scale unlike IM injections which will need nurses, doctors n MBBS students which is a challenge," Biocon Executive Chairperson Kiran Mazumdar-Shaw tweeted Bharat Biotech gets nod to conduct phase 3 trial of its COVID-19 vaccine candidate Bharat Biotech, on October 22, got the approval from the Drug Controller General of India to conduct phase III trials of its COVID-19 vaccine in the country. "The firm has presented their data from Phase I and II along with animal challenge data in two species including NHP on the Inactivated Corona Virus Vaccine (BBV152) along with the proposal to conduct event-driven Phase III clinical trial to assess the efficacy of the vaccine," the expert panel of Subject Expert Committee (SEC) said. Indian government reportedly set aside $7 billion to vaccinate 1.3 billion people The Narendra Modi government has <a href="http://bloombergquint.com/coronavirus-outbreak/india-is-said-to-keep-7-billion-ready-for-vaccine-at-2-a-shot">reportedly </a>set aside ₹50,000 crore ($7 billion) to vaccinate 1.3 billion Indians against COVID-19, said Bloomberg citing sources. The government is estimating the overall cost of nearly $6-7 per person. Moreover, according to the government’s estimates <a href="https://timesofindia.indiatimes.com/india/india-sets-aside-7-billion-to-vaccinate-its-population-sources/articleshow/78808899.cms">a shot of a vaccine is likely to cost around $2. </a> IIT-Indore’s COVID-19 vaccine enters animal trial phase IIT-Indore’s potential COVID-19 vaccine has <a href="https://timesofindia.indiatimes.com/city/indore/iit-indores-covid-vaccine-in-animal-trial-phase/articleshow/78759625.cms">entered </a>the animal trials stage at the National Centre for Cell Science in Pune. “The research team, led by Dr Debasis Nayak, has received funds for development of a vaccine against SARS-CoV2. Nayak is a veterinarian and he is running trials on animals to study the vaccine’s side effects,” Prof Neelesh Kumar Jain said. Indian pharma Mankind partners with RDIF to market Sputnik V in India Russian Direct Investment Fund (RDIF) has inked a pact with Delhi-based Mankind Pharma to market and distribute Russia’s COVID-19 vaccine Sputnik V in India, <a href="https://www.livemint.com/news/india/rdif-inks-pact-with-mankind-pharma-for-marketing-sputnik-v-vaccine-11603005186344.html">according to Live Mint. </a> “It depends on how many doses they will give Mankind. RDIF has pacts with Russian and Korean manufacturers for around 50 million doses so far. Talks with Indian manufacturers are also ongoing. Mankind will get the doses once the approvals are in place and the doses are supplied," Mint reported citing sources. The pact comes after Dr Reddy’s Lab got the approval to conduct human trials of Sputnik V in India. Oxford-AstraZeneca’s COVID-19 vaccine will be ready by December The Serum Institute of India says Oxford-AstraZeneca’s potential COVID-19 vaccine will be ready by <a href="https://www.hindustantimes.com/india-news/vaccine-ready-by-december-in-market-by-march-serum-institute-reveals-covid-19-vaccine-planning/story-KWBryK3euM7dbWa06GYZfJ.html">December </a>and available in market by March 2021 after procuring a license. "India may get COVID-19 vaccine by March 2021 provided the regulators speed up the process as multiple manufacturers are working on it," Jadhav said at the India Vaccine Accessibility e-summit organised by HEAL Foundation in association with ICCIDD. Meanwhile, Serum Institute has proposed the Drug Controller General of India to broaden the norms of clinical trials by including people with different conditions from all ages. Bharat Biotech partners with Washington University for an intranasal vaccine Union Health Minister Harsh Vardhan, on October 19, informed that Bharat Biotech would <a href="https://www.ndtv.com/india-news/serum-institute-bharat-biotech-to-start-intranasal-covid-19-vaccine-trials-soon-health-minister-2312103">develop </a>an intranasal vaccine for Sars-CoV-2. According to Harsh Vardhan, Bharat Biotech has entered into an agreement with Washington University and St. Louis University for the trials of the nasal vaccine candidate. "It (Bharat Biotech) has entered into an agreement with Washington University's School of Medicine under which the company will conduct trials, produce and market an intranasal vaccine for the COVID-19," Vardhan told his social media audience at his weekly webinar, Sunday Samvaad. The Phase 1 trials of the vaccine candidate will take place in St Louis University's vaccine and treatment evaluation unit, while further stages of the trials will be conducted in India. Dr Reddy’s receive approval for Sputnik V’s human trial in India Dr.Reddy’s Laboratories and Russian Direct Investment Fund, Russia’s sovereign wealth fund, on October 17, announced that they have received approval from the Drug Control General of India to conduct an adaptive phase 2/3 human clinical trial for Sputnik V vaccine in India. Dr Reddy’s said that this will be a multi-center and randomised controlled study, which will include safety and immunogenicity study. Additionally, Phase 3 clinical trial of the vaccine commenced in the UAE last week On August 11, 2020, the Sputnik V vaccine developed by the Gamaleya National Research Institute of Epidemiology and Microbiology was registered by the Ministry of Health of Russia and became the world's first registered vaccine against COVID-19 based on the human adenoviral vectors platform. A month later, Dr Reddy’s and RDIF entered into a partnership to conduct clinical trials of Sputnik V vaccine and its distribution in India. Sputnik V is currently undergoing Phase 3 clinical trials in Russia and the proposed number of subjects is 40,000. Apollo Hospitals is ready to administer 1 million COVID-19 vaccines daily Apollo Hospitals announced on October 15 that it is prepared to administer one million Covid-19 vaccines per day whenever the vaccine is rolled out. The group said it will leverage its robust pan-India network of 19 medicine supply hubs with cold chain facilities, 70 hospitals, over 400 clinics, 500 corporate health centres and 4000 pharmacies alongside their omni-channel digital platform to ensure massive administration capacity of COVID-19 vaccines. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/another-round-of-economic-stimulus-not-off-the-table-according-to-sitharaman/articleshow/78760271.cms">Another round of economic stimulus not off the table, according to Sitharaman</a>

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