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The country's drugs and <keyword id="20006091" type="General" weightage="20" keywordseo="pharmaceuticals" source="keywords">pharmaceuticals</keyword> exports increased 9.67 per cent year-on-year to USD 27.9 billion in 2023-24, even as the total exports dipped by 3 per cent in the last fiscal. According to the commerce ministry data, <keyword id="20988985" type="General" weightage="20" keywordseo="pharma-exports" source="keywords">pharma exports</keyword> in March grew by 12.73 per cent to USD 2.8 billion. In 2022-23, the exports stood at USD 25.4 billion. The top five export markets, for the sector during the last fiscal, are the US, the UK, the Netherlands, the United Kingdom, South Africa and Brazil. The US accounts for over 31 per cent of <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s total pharma exports, followed by the UK and Netherlands (about 3 per cent each). In 2023-24, the outbound shipments also entered new geographies like Montenegro, South Sudan, Chad, Comoros, Brunei, Latvia, Ireland, Chad, Sweden, Haiti and Ethiopia. An industry expert said that increasing market opportunities and healthy demand in countries like the US are helping exports to record healthy growth rates month after month. Experts have said that India's pharmaceutical business may exceed USD 130 billion by 2030, supported by expanding market opportunities and heightened demand in the overseas markets. The business stood at over USD 50 billion for the 2022-23. On average, India exports pharma products worth USD 2-3 billion every month. India's pharmaceutical industry is the third largest by volume and the 13th largest by value in the world, producing more than 60,000 <keyword id="20581305" type="General" weightage="20" keywordseo="generic-drugs" source="keywords">generic drugs</keyword> across 60 therapeutic categories. The government has rolled out two production-linked incentive (<keyword id="19958919" type="General" weightage="20" keywordseo="pli" source="keywords">PLI</keyword>) schemes to promote domestic manufacturing of key pharmaceutical ingredients and generic medicines. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a><a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a>

India's pharma exports rise 10% to $27.9 bn in FY24

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Welcome back to our Sunday edition, a roundup of some of our top stories. A venture-funded AI-friendship necklace received a lot of hate on the internet. But <a target="_blank" href="https://www.businessinsider.com/gen-zer-behind-friend-creepy-new-ai-necklace-interview-2024-8">its 21-year-old creator is undeterred</a>, adding that "personal vibes" have guided his decisions.On the agenda today:<ul><li>College students are reneging on <a target="_blank" href="https://www.businessinsider.com/gen-z-college-students-renege-job-offers-tech-rescinded-2024-7">their job offers</a>.</li><li>The latest hedge-fund trend <a target="_blank" href="https://www.businessinsider.com/hedge-funds-embracing-hot-portable-alpha-strategy-to-win-investors-2024-7">marries passive investing with firms' secret sauce</a>.</li><li>Amazon has considered a "DoctorAI" tool <a target="_blank" href="https://www.businessinsider.com/amazon-doctorai-automate-routine-healthcare-tasks-one-medical-2024-7">to automate routine healthcare tasks</a>.</li><li>Mark Cuban is the <a target="_blank" href="https://www.businessinsider.com/mark-cuban-cost-plus-strategy-disrupt-drug-pricing-big-pharma-2024-7">shark circling Big Pharma</a>.</li></ul>But first: Big Tech reporting for duty.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today-sunday-edition">sign up here</a>. Download Insider's app <a target="_blank" href="https://www.insider.com/app">here.</a><h3 id="58506b3b-b008-4ead-9e90-71439c9e98dd">This week's dispatch</h3><div type="image" title="Mark Zuckerberg graphic with dollar bills behind him" height="1500" width="2000" msid="112265720" hostid="261" sizebytes="730788"></div><h2 id="4b78459e-8dcf-46a0-957a-c13cd2e8f603">Big Tech's big week</h2>The masters of the tech universe reported earnings this week with all eyes on their AI investments.Even before Amazon, Apple, Meta, and Microsoft reported earnings, investors' focus was clear. Alphabet and Tesla had already been <a target="_blank" href="https://www.businessinsider.com/ai-hype-train-profits-valuations-startups-google-openai-2024-7">put through the wringer</a>, and there were questions about <a target="_blank" href="https://www.businessinsider.com/openai-gpt5-gpt4-expectations-ai-2024-7">OpenAI's ability to turn a profit</a>.When the dust settled, some eased concerns and bought themselves time, while others faced more scrutiny.Meta CEO Mark Zuckerberg didn't shy away from his intention to <a target="_blank" href="https://www.businessinsider.com/meta-ai-spending-more-mark-zuckerberg-investors-stock-price-2024-7">keep plowing money into AI</a>, but investors didn't mind. (It also helps Meta beat revenue and earnings estimates <a target="_blank" href="https://www.businessinsider.com/meta-stock-quarterly-earnings-call-report-live-updates-2024-7">thanks to its ads business</a>.)Apple <a target="_blank" href="https://www.businessinsider.com/apple-bought-itself-some-time-after-quarterly-results-2024-8">bought itself some time, too</a>. While China sales remain an issue, <a target="_blank" href="https://www.businessinsider.com/apple-aapl-stock-quarterly-earnings-call-report-live-updates-2024-7">it beat on earnings and revenue estimates</a>. The tech giant's newest iPhone model and Apple Intelligence set to be released this fall will be another test on <a target="_blank" href="https://www.businessinsider.com/apple-will-find-out-fate-of-the-iphone-soon-2024-8">the effectiveness of Apple's AI spend</a>.On the other end of the spectrum were Amazon and Microsoft. <a target="_blank" href="https://www.businessinsider.com/amazon-stock-amzn-quarterly-earnings-call-report-live-updates-2024-7">Softening demand from shoppers</a> for Amazon led to a miss in reported net sales and a weaker-than-expected sales forecast for the third quarter.Microsoft took a hit when its cloud unit's revenue growth was <a target="_blank" href="https://www.businessinsider.com/microsoft-investors-freaked-out-about-ai-spending-azure-growth-2024-7">slower than analysts had hoped for</a>. And news of a pharma company <a target="_blank" href="https://www.businessinsider.com/pharma-cio-cancelled-microsoft-copilot-ai-tool-2024-7">canceling a Microsoft AI deal</a> didn't help. One executive compared the slide-generation capability of Microsoft's AI tools to "middle school presentations."But by Friday, investors had <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-selloff-today-jobs-report-recession-unemployment-tech-earnings-2024-8">bigger concerns</a> about the state of the economy after data showed <a target="_blank" href="https://www.businessinsider.com/unemployment-rate-job-growth-july-labor-market-economic-data-2024-7">unemployment unexpectedly jumped in July</a>.<div type="image" title="A hand being held out for a handshake while another hand appears to move away" height="1500" width="2000" msid="112265718" hostid="261" sizebytes="105524"></div><h2 id="52995072-04bd-4288-b36f-7097769ca568">A cultural renege-ssance</h2>A college senior commits to a relationship in September, but jumps ship in April when a better option comes along. That's a familiar story in the world of Gen Z dating. But in this case, the people getting dumped aren't romantic partners — they're companies.Reneging on job offers is growing ever more common among ambitious Gen Zers, many of whom know companies have also pulled offers. The problem is that when a student reneges, their peers often pay the price.<a target="_blank" href="https://www.businessinsider.com/gen-z-college-students-renege-job-offers-tech-rescinded-2024-7">Job seekers' anxious attachments</a>.<div type="image" title="A stock Trader looking at a bar graph" height="1500" width="2000" msid="112265717" hostid="261" sizebytes="446562"></div><h2 id="3def0688-49f6-4c7a-8c33-ac32f3fbc1d9">Hedge funds' old-turned-new strategy</h2>Sometimes to beat the market you need to be the market.That's the concept behind "portable alpha," a decades-old strategy gaining momentum on Wall Street. The approach includes mirroring the broad market via a benchmark, like the S&amp;P 500, coupled with an actively managed strategy from a hedge fund.The trend is being driven by institutional investors, but hedge funds are happy to oblige amid a difficult fundraising environment.<a target="_blank" href="https://www.businessinsider.com/hedge-funds-embracing-hot-portable-alpha-strategy-to-win-investors-2024-7">Inside the "portable-alpha" mania</a>.<div type="image" title="Photo collage about Amazon's One Medical" height="1500" width="2000" msid="112265721" hostid="261" sizebytes="282108"></div><h2 id="3536a09f-4fa1-4a4d-b7db-d406609fe93c">Amazon's "DoctorAI" tool</h2>According to an internal planning document, Amazon's One Medical team has talked about developing a "DoctorAI" tool to automate routine healthcare tasks. The concept was proposed as part of the team's most disruptive ideas.By improving mundane administrative agenda items, the large language model could help reduce costs for Amazon's healthcare business — an important goal as the company tries to trim costs.<a target="_blank" href="https://www.businessinsider.com/amazon-doctorai-automate-routine-healthcare-tasks-one-medical-2024-7">More on Amazon's AI healthcare ambitions</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/amazon-healthcare-one-medical-billion-loss-cost-cutting-profitability-2024-7">Amazon projected huge losses from its healthcare business in 2024, but strong sales growth, internal document reveals</a></li></ul><h2 id="6f06612a-69eb-4dd3-a3c3-e854a555c215">Mark Cuban's pharma mission</h2>In 2022, Mark Cuban launched a low-cost online pharmacy with the goal of cutting drug prices for consumers. His company, Cost Plus, is a hit: It offers more than 2,000 mostly generic drugs.Now, the billionaire "Shark Tank" investor is expanding into imports. That puts him in direct competition with big names like Pfizer and Novo Nordisk.<a target="_blank" href="https://www.businessinsider.com/mark-cuban-cost-plus-strategy-disrupt-drug-pricing-big-pharma-2024-7">The shark in Big Pharma's waters</a>.This week's quote:"They hear this language, and they're aware that this was made up by somebody's grandfather 70 years ago, and it stuck."— Recruiter and TikToker Emily Durham, on the <a target="_blank" href="https://www.businessinsider.com/gen-z-reject-corporate-jargon-corporate-accent-2024-7">generation rejecting corporate jargon and workplace norms</a>.More of this week's top reads:<ul><li>Want to work for Blackstone straight out of college? <a target="_blank" href="https://www.businessinsider.com/inside-blackstone-summer-analyst-program-and-internship-2024-7">Here's the best route</a>.</li><li>Don't feel sorry <a target="_blank" href="https://www.businessinsider.com/elon-musk-linda-yaccarino-twitter-x-profile-2024-7/">for Linda Yaccarino</a>.</li><li>Tech's most powerful bromance is bolstered by <a target="_blank" href="https://www.businessinsider.com/business-bromance-nvidia-jensen-huang-mark-zuckerberg-siggraph-2024-7">billions of dollars of deals</a>.</li><li>A software engineer explains how he <a target="_blank" href="https://www.businessinsider.com/software-engineer-takeaways-from-bicoastal-living-sf-nyc-personal-finance-2024-7">splits his time between NYC and SF</a>.</li><li>A thief locked a traveler out of his Google account, <a target="_blank" href="https://www.businessinsider.com/iphone-stolen-locked-out-google-tech-bank-2024-7">destroying years of work</a>.</li><li>Starbucks is <a target="_blank" href="https://www.businessinsider.com/starbucks-reinvented-cafes-managment-plan-lines-waits-sales-2024-7">trying to make coffee fun again</a>.</li><li>The poster who sparked the fake JD Vance couch story <a target="_blank" class="" href="https://www.businessinsider.com/jd-vance-couch-sex-joke-author-speaks-2024-7">speaks for the first time</a>.</li><li>London's hedge fund rich are looking to avoid new taxes by relocating to Milan and Dubai. <a target="_blank" href="https://www.businessinsider.com/hedge-fund-rich-taxes-labour-london-uk-relocation-milan-dubai-2024-7">People who have made the move tell us what it's like</a>.The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York. Amanda Yen, fellow, in New York.</li></ul>

Insider Today: Mark Cuban vs. Big Pharma

<keyword id="19900618" type="General" weightage="100" keywordseo="investors" source="keywords">Investors</keyword>' wealth eroded by Rs 9.51 lakh crore on Monday morning, following a <keyword id="20028816" type="General" weightage="20" keywordseo="crash" source="keywords">crash</keyword> in equity <keyword id="19990226" type="General" weightage="20" keywordseo="markets" source="keywords">markets</keyword> where the benchmark Sensex tanked over 2,400 points, mirroring a sharp plunge in global peers. The 30-share BSE benchmark tanked 2,401.49 points to 78,580.46 in early trade. Following the sharp decline in equities, the market capitalisation of BSE-listed firms dropped by Rs 9,51,771.37 crore to Rs 4,47,65,174.76 crore (USD 5.35 trillion) during the morning trade. "The global market is reeling as bears enter with a cocktail of bad news. The fear of a reverse Yen carry trade, following an interest rate hike in Japan, was the initial catalyst. This was compounded by fears of a recession in the USA after extremely poor jobs data, which spooked market sentiment," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Indian equity markets are witnessing signs of the first meaningful correction in global markets after an extended bull run, he added. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading sharply lower. Japan's benchmark Nikkei 225 stock index plunged as much as 8.1 per cent early Monday, extending sell-offs that shook world markets last week as worries flared over the state of the US economy. The US markets ended significantly lower on Friday. "The rally in the global stock markets has been driven mainly by consensus expectations of a soft landing for the US economy. This expectation is now under threat with the fall in US job creation in July and the sharp rise in the US unemployment rate to 4.3 per cent. "Geopolitical tensions in the Middle East also are a contributing factor," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. From the Sensex pack, Tata Motors, Maruti, Tata Steel, Infosys, Tech Mahindra and JSW Steel were the biggest laggards. On the contrary, Hindustan Unilever, <keyword id="20026907" type="General" weightage="20" keywordseo="sun-pharma" source="keywords">Sun Pharma</keyword>, Nestle and Asian Paints were trading in the positive territory. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,310 crore on Friday, according to exchange data.

Investors become poorer by Rs 9.51 lakh crore as markets crash

<keyword id="15160768" type="General" weightage="20" keywordseo="presvu" source="Orion">PresVu</keyword> eye drops, developed by <keyword id="20007796" type="General" weightage="20" keywordseo="entod-pharmaceuticals" source="keywords">Entod Pharmaceuticals</keyword>, were launched with considerable media attention earlier this month as a novel solution for <keyword id="23035383" type="General" weightage="20" keywordseo="presbyopia" source="keywords">presbyopia</keyword>. Presbyopia is a condition where individuals aged 40 and above experience difficulty focusing on nearby objects, often requiring reading glasses. PresVu claimed to reduce or eliminate the need for these glasses, offering an alternative through its active ingredient, 1.25% Pilocarpine, which temporarily contracts the pupil, improving near vision. Entod Pharmaceuticals earlier announced that the product had approval from the <keyword id="20047866" type="General" weightage="20" keywordseo="drug-controller-general-of-india" source="keywords">Drug Controller General of India</keyword> (<keyword id="20046022" type="General" weightage="20" keywordseo="dcgi" source="keywords">DCGI</keyword>). These announcements created substantial buzz, as the treatment promised a non-invasive solution to a common problem affecting millions of people. <h2>Regulatory backlash</h2>The situation escalated when the Drug Controller General of India suspended the marketing and distribution licence of PresVu eye drops. The suspension was issued due to unauthorised promotional campaigns by Entod, which made unverified claims about the drug's capabilities. The company had reportedly promoted PresVu not as a prescription drug, but as an over-the-counter (OTC) solution that could potentially replace reading glasses — a claim that regulators found highly misleading. The DCGI expressed concerns that such promotions could lead to misuse, with patients potentially self-administering the product without medical guidance, raising significant safety concerns. Furthermore, the regulatory body pointed out that while the product had been approved as a prescription drug, the marketing blitz implied it was a quick-fix solution available to anyone, which it was not. <h2>Entod Pharmaceuticals responds</h2>Entod Pharmaceuticals quickly defended itself against these allegations, maintaining that their marketing campaign was based on the information cleared by the DCGI. According to Entod, the promotion highlighted only the approved uses of the <keyword id="4537914" type="General" weightage="20" keywordseo="eye-drop" source="Orion">eye drop</keyword>, and any misconceptions arose from how the media and public interpreted the information. The company asserted that it would challenge the suspension in court, emphasising that other pharmaceutical companies frequently follow similar marketing practices without facing such scrutiny. In a statement, Entod’s CEO, <keyword id="21011592" type="General" weightage="20" keywordseo="nikkhil-k-masurkar" source="keywords">Nikkhil K Masurkar</keyword>, clarified that the company had conducted phase 3 clinical trials in India to ensure the product’s safety and efficacy. <div type="Article" hostid="261" msid="113251803" title="The next big market for weight-loss drugs: children" mstype="2" mssubtype="0"></div>“Our approval by DCGI was based on a valid controlled clinical trial in 234 patients which was successful in showing efficacy and safety of these eye drops in patients of Presbyopia, who used these drops without eyeglasses and could read additional lines on Snellen's chart which is yardstick of near vision impairment,” Masurkar commented in a statement. He insisted that the product’s promotional activities had followed standard protocols and blamed the viral nature of media reports for blowing the issue out of proportion. Despite these defences, the product remained suspended pending further investigations. "Such eye drops with the same active ingredient and same concentration have been approved by the US <keyword id="19918726" type="General" weightage="20" keywordseo="fda" source="keywords">FDA</keyword> and marketed in the US for the last three years without any serious complications. FDA didn’t take any action on the companies marketing the same in the USA,” Masurkar further elaborated. <h2>Public and expert reactions</h2>The controversy garnered widespread attention, particularly from medical professionals. The Liver Doc, a prominent liver specialist that takes to social media to debunk pseudoscientific claims, criticised the situation on X (former Twitter), warning about the dangers of exaggerated medical claims in advertising. The doctor’s tweet emphasised that blaming Indian media for blowing Entod’s claims out of proportion was “shameless”, noting that the media merely reported exactly what the company had themselves claimed earlier. <div type="twitter" handle="theliverdr" handlename="theliverdr" favoritecount="0" retweetcount="0" id="1833828866210849170"></div>As of September 12, 2024, the suspension of PresVu's marketing approval remains in place. Entod Pharmaceuticals is preparing to contest the decision in court, hoping to reinstate its flagship product in the Indian market. The regulatory investigation continues, with the DCGI seeking clarification on the exact nature of the promotions and whether they indeed violated ethical standards. <div type="Article" hostid="261" msid="113229771" title="China&amp;#39;s drug regulator clears mpox vaccine; to undergo clinical trial" mstype="2" mssubtype="0"></div>Despite Entod’s defence, the controversy has raised important questions about the marketing of prescription drugs in India, with regulators, the media, and the public closely watching how this case will evolve. The outcome could set a precedent for how pharmaceutical companies in India can market innovative treatments, particularly when dealing with sensitive areas like vision correction.

PresVu eye drops: Why has a pharma company fallen in controversy for claiming to cure near-sightedness?

<ul><li><keyword id="4764339" type="General" weightage="20" keywordseo="drug-shortages" source="Orion">Drug shortages</keyword>, channel realignment and woes of competitors to aid US business of <keyword id="58106" type="General" weightage="20" keywordseo="indian-pharma" source="Orion">Indian pharma</keyword> cos.</li><li>Dr Reddy’s, Cipla, Zydus and Sun Pharmaceuticals gained from sales of generic cancer drugs in the US.</li><li>US FDA inspections are in full swing and the accelerating pace of new launches will improve outlook for US business in FY24, say analysts. </li></ul>The Indian pharma sector has gone through many ups and downs in the last few years – like falling from a Covid-high last year, adding to pricing pressures in its most important market. In the first quarter of FY24 however some of the US market pricing pressures are easing, making up for the slump in domestic sales. “Q1 FY24 turned out to be a tale of two divergent performances as US delivered across the board beat while domestic business, specifically acute, saw weakness in June. Price erosion came in at high single digit in US versus mid-teens last year reflecting in better US revenue growth and profitability,” said a report by YES Securities. Drug shortages, channel realignment and financial as well as regulatory woes of competitors seems to have helped curb US market price erosion in Q1 on a quarter-on-quarter, say analysts. The US market has been dented in the last few years for many reasons including pricing pressures — like supply chain disruptions, and a massive delay in approval of Abbreviated New Drug Applications (ANDAs) leading to fewer generic launches in the US. However, the ability to launch the generic version of a cancer drug gRevlimid in the US abated some of the concerns. Dr Reddy’s generated sales to the tune of $125 million from this generic in Q1 while Cipla, Zydus and Sun Pharmaceuticals reported gRevlimid sales between 40-60 million. “We believe the earnings support from gRevlimid is expected to drive the US base business and abate pricing pressure for the coming two years. Moreover, US FDA inspections are in full swing and the accelerating pace of new launches will improve outlook for US business in FY24,” J M Financial. Lupin and Zydus Life benefitted from exclusive launches of gSuprep and gTrokendi. Darunavir and gSpiriva are other drugs in the pipeline that can boost North America sales of Indian pharma companies. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth levers ahead </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Specialty performance </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revlimid contribution to sustain in 2Q </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zydus Lifesciences </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Near-term US outlook promising </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">US base biz at $210- 215 mn hereon: mgmt </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lupin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Attractive launch pipeline </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: J M Financial Sun shines in the <keyword id="6382118" type="General" weightage="20" keywordseo="domestic-market" source="Orion">domestic market</keyword> The domestic <keyword id="101756" type="General" weightage="20" keywordseo="pharma-market" source="Orion">pharma market</keyword> seems to see the after-effects of a delayed monsoon, which led to weakness in acute therapies like gastroenteritis which aids seasonal sales in Q1. This trend impacted key players like Dr Reddy’s, JB Chemicals and Alkem. Alkem however said that there has been no change in domestic sales even in July, August is expected to provide some quality on the same. Sun Pharma, however, is an outlier with a good performance in the domestic business as it boosted its sales strength along with new launches. It launched 105 new products in FY23 as compared to 77 new launches the year before. “Sun’s India business has grown at 11% compounded annual growth rate (CAGR) over FY20-23, driven by volume, price and new launches. We expect Sun’s India business to grow at around 10% CAGR over FY23-26,” said a report by IIFL Securities. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div>

US outlook improves for Indian pharma but domestic market under the cloud

<ul class="summary-list"><li>In 2022, billionaire Shark Tank investor Mark Cuban set up a no-frills, low-cost online pharmacy.</li><li>Since then, Mark Cuban Cost Plus Drug Company has amassed more than 2,000 offerings, mostly generics.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/category/mark-cuban">Mark Cuban</a> is on a mission to upend Big Pharma.In early 2022, Cuban founded <a target="_blank" class="" href="https://www.businessinsider.com/walgreens-mark-cuban-cvs-prescription-drugs-prices-cost-plus-model-2024-1">Cost Plus Drugs</a>, a discount pill-mailing service that promised to take some of the bloat out of America's pharmaceutical system by delivering drugs to consumers at lower, more transparent price points.Here's how it works: Cost Plus Drugs, as the name implies, gets drugs directly from manufacturers, cutting out the pharmaceutical middlemen and their extra costs. You pay a 15% markup to Cost Plus Drugs, plus a fixed $5 for labor on each medication and $5 for shipping.<div type="image" title="three workers in a pharmacy setting" height="4000" width="6000" msid="112197854" hostid="261" sizebytes="504712"></div><h2 id="3e039770-7726-4e4b-88ba-a535ea447cba">Typically, drug pricing is clear as mud</h2>Take <a target="_blank" class="" href="https://www.businessinsider.com/untold-story-of-viagra-doctor-dropped-pants-at-urology-conference-2020-2">Viagra</a>, for example. How much will a name-brand, 30-day supply of the biggest dose of the "little blue pill" (100mg) cost you? Great question. It could be anywhere from around $2,000 to upwards of $3,000, without insurance. A generic form of the same 30-day supply might start somewhere around $250, but can also exceed $1,000.Cost Plus tells consumers that it pays the manufacturer $3 for that same 30-day supply of 100mg generic Viagra tablets. It slaps on a 15% ($0.60) markup, plus $5 for "pharmacy labor" and voila: a 30-day supply of sildenafil citrate for $8.60 (plus shipping and taxes).The company has over 2,000 drugs on offer this way, mainly generics. It's everything from unbranded Crestor (about $6-7 a month, plus shipping) to silver burn cream for wounds (approximately $10-11 per tube). You can replace a trip to the pharmacy with a few minutes of computer time: create an online account, then connect with your doctor who'll place your prescription order electronically.Cuban, the veteran <a target="_blank" class="" href="https://www.businessinsider.com/mark-cuban-says-leaving-shark-tank-after-season-16-2023-11">Shark Tank investor</a> and billionaire part-owner of the Dallas Mavericks, isn't necessarily expecting his mail-order pharmacy to make him millions of dollars richer. Rather, his goal with Cost Plus, he <a target="_blank" class="" href="https://youtu.be/apTsCDNgXF4?si=3LeTw5angPJlNgTZ&amp;t=63">says</a>, is to change the "game" of <a target="_blank" class="" href="https://www.businessinsider.com/how-education-healthcare-childcare-got-so-expensive-feeling-it-now-2023-4">drug pricing</a>."We are completely transparent, with the same price for anyone and everyone," Cuban told Business Insider via email. "We believe that when all data is transparent, then the market becomes efficient. At that point, prices will drop significantly."<h2 id="8c89cb9b-aec1-4e9f-a7e1-c4bec00f2500">Importing $15 penicillin to compete with $500 shots from Pfizer is just the beginning</h2><div type="image" title="pills" height="1414" width="2119" msid="112197849" hostid="261" sizebytes="192698"></div>Cost Plus has been bullish about its ultimate ambitions to end the secretive, uneven world of <a target="_blank" class="" href="https://www.businessinsider.com/big-pharma-companies-taxes-american-billion-dollar-profits-drugs-healthcare-2023-8">US drug pricing</a> altogether. And it's increasingly stepping out of the generic world and going after big, brand-name drugmakers like Pfizer and Novo Nordisk.Earlier this year, <a target="_blank" class="" href="https://www.costplusdrugs.com/mission/">the company</a> started up a manufacturing plant in Texas aimed at alleviating drug shortages, and this summer it inked an import deal with a Portuguese pharmaceutical brand to<a target="_blank" href="https://x.com/costplusdrugs/status/1813620177852060145"> bring</a> cheaper penicillin shots to clinicians in the US, who've been dealing with a surging nationwide <a target="_blank" class="" href="https://www.businessinsider.com/gonorrhea-syphilis-cases-out-of-control-in-us-std-expert-2022-9">syphilis</a> outbreak that has completely cleaned out the US supply.Normally, Pfizer is the only American manufacturer of the specific shot in question, called Bicillin L-A, but they've been in short supply on that medication for over a year. For now, the US Food and Drug Administration is allowing Cost Plus to import Portuguese penicillin to the US [$15], but only until Pfizer's [~$500+] supply comes back out of shortage, likely in early 2025."We are going to try to do the same thing for any med that is in shortage where we feel we can save patients a material amount of money," Cuban said. And he didn't outright dismiss my idea that the same could be done in the future for chemotherapy medications, or GLP-1 weight loss shots like Wegovy, which have both been in severe shortages for many months."Where we can find a high-quality source that meets all regulatory requirements, we will do our best to import them," he said.<h2 id="3f43f5a0-16b8-41cb-92c1-88cc4f3e7937">1 regulatory change that would bring down healthcare costs across the board</h2>Over the next decade, he expects Cost Plus to add more branded medications, and also move into "high-end specialty therapeutics."But he also acknowledged his strategy can only go so far, without firmer regulations, aimed at showing consumers what drugs actually cost to produce. If he had his way, Cuban says that every healthcare provider, pharmacy middleman, or "any affiliated in any way company" would be required to "publish their un-redacted contracts, for all to see.""Prices could drop 30% across all of healthcare in a year," he said. "Transparency would end all the payment games."

We asked Mark Cuban how he's going to disrupt Big Pharma. He said it's pretty straightforward, actually.

<keyword id="599153" type="DOMAIN" weightage="20" keywordseo="alembic-pharmaceuticals" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="alembic pharmaceuticals" meta.entityname="Alembic Pharmaceuticals Ltd." meta.entityid="34421" meta.seoname="alembic-pharmaceuticals-ltd">Alembic Pharmaceuticals</keyword> on Monday said it has received approval from the US health regulator to market a generic drug to treat <keyword id="6355291" type="General" weightage="70" keywordseo="cancer" source="Orion">cancer</keyword>. The company has received approval from the US Food &amp; Drug Administration (<keyword id="44669" type="General" weightage="60" keywordseo="usfda" source="Orion">USFDA</keyword>) for <keyword id="16716490" type="General" weightage="80" keywordseo="fluorouracil-injection" source="Orion">Fluorouracil Injection</keyword>, the drug firm said in a statement. The approved product is therapeutically equivalent to <keyword id="16716491" type="General" weightage="50" keywordseo="spectrum-pharmaceuticals-inc" source="Orion">Spectrum Pharmaceuticals Inc</keyword>'s product. Fluorouracil injection is indicated for the treatment of patients with adenocarcinoma of the colon and rectum, adenocarcinoma of the breast, gastric adenocarcinoma and pancreatic adenocarcinoma. According to <keyword id="6144348" type="General" weightage="50" keywordseo="iqvia" source="Orion">IQVIA</keyword> data, Fluorouracil Injection USP, 2.5 g/50 mL (50 mg/mL) vial, has an estimated market size of USD 5 million in the US market. <keyword id="163234" type="General" weightage="100" keywordseo="Alembic" source="Orion">Alembic</keyword> said it now has a cumulative 182 abbreviated new drug application (ANDA) approvals from the USFDA. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/women-are-shaping-new-real-estate-trends-like-preference-for-bigger-homes-anarock/articleshow/98446173.cms">Women are shaping new real estate trends like preference for bigger homes: Anarock</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/isro-gears-up-for-extremely-challenging-experiment-of-controlled-reentry-of-aged-satellite/articleshow/98446547.cms">ISRO gears up for 'extremely challenging' experiment of controlled reentry of aged satellite</a>

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