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New Delhi, Contract manufacturing services firm <keyword id="130059" type="General" weightage="50" keywordseo="syngene-international" source="Orion">Syngene International</keyword> has inked a pact to buy a manufacturing unit from <keyword id="1978886" type="General" weightage="50" keywordseo="stelis" source="Orion">Stelis</keyword> Biopharma for Rs 702 crore. The company has entered into a binding term sheet with Stelis to acquire its Bengaluru-based Unit 3 biologics manufacturing unit, <keyword id="265553" type="General" weightage="100" keywordseo="syngene" source="Orion">Syngene</keyword> said in a late night statement on Tuesday. The facility, which was initially built to manufacture Covid-19 vaccines, is now being repurposed to manufacture monoclonal antibodies. Syngene said it plans to further invest up to Rs 100 crore to repurpose and revalidate the facility. On completion of the transaction, the site will add 20,000 litres of installed biologics drug substance manufacturing capacity for Syngene, the company said. The site has the potential for future expansion up to a further 20,000 litres of biologics drug substance manufacturing capacity, it added. Syngene said it will acquire Unit 3 on a slump sale basis for a gross value of Rs 702 crore. Subject to closing adjustments, the consideration for the transaction will be settled in cash, the company said. The transaction, which has been approved independently by the boards of both companies, is expected to close within 90 days, subject to customary conditions, including receiving the required lender and regulatory approvals, it added. "This acquisition strengthens our growing position as a leading biologics contract development and manufacturing service provider and adds drug substance capacity and a drug product capability years earlier than our internal capex programme," Syngene Managing Director and CEO Jonathan Hunt noted. The company expects the facility to be operational in 2024, following completion of a programme of facility upgrades and re-validation, he added.

Syngene to acquire Stelis Biopharma's Bengaluru plant for Rs 702 cr

<ul><li>At 7:40 am, the SGX Nifty was down 0.19%, indicating a subdued start for Nifty50.</li><li>Here's a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open flat on Friday, led by mixed cues from the global peers. At 7:40 am, the SGX Nifty was down 0.19%, indicating a subdued start for Nifty50. However, on Thursday, the US stocks ended in positive territory as fresh stimulus hopes buoyed investor sentiment towards the end of a session. The Dow Jones Industrial Average closed 45 points higher, and the S&amp;P 500 was up 0.39%. These are the stocks to watch out for during the trading session today: Reliance Industries Billionaire Mukesh Ambani's Reliance Industries said it had completed the sale of about 10% stake in its retail unit to a clutch of foreign investors for ₹47,265 crore. Since September 25, the company has sold 10.09% stake in Reliance Retail Ventures (RRVL) to private equity firms Silver Lake Partners, KKR, GIC, TPG and General Atlantic, as well as sovereign wealth funds, Mubadala, ADIA and PIF. The shares of Reliance Industries ended 0.76% lower on Thursday. Vodafone-Idea Post the completion of the much-delayed merger of Bharti Infratel and Indus Towers on Thursday, Vodafone Idea (VIL) received cash consideration of ₹3,760.1 crore for its 11.15% shareholding in Indus. The shares of Vodafone-Idea ended flat on Thursday. Infosys The Infosys subsidiary, Simplus has collaborated with Salesforce for a vaccine management cloud solution. The solution has been built on the Salesforce Platform in support of Salesforce Work.com for Vaccines as the COVID-19 pandemic continues. The shares of Infosys ended 1.22% lower on Thursday. Mphasis IT firm Mphasis subsidiary, Mphasis Consulting, has acquired UK-based Datalytyx for up to £13.3 million (about ₹130.4 crore). The acquisition is expected to provide access to strengthen Mphasis next-generation Data GTM Strategy and provide higher value partnership status with Snowflake and Talend for cloud-based data services, a regulatory filing said. The shares of Mphasis ended 0.50% lower on Thursday. Syngene International Syngene International announced that it had signed an agreement with Deerfield Discovery and Development Corporation (3DC) to collaborate for five years to advance therapeutic discovery projects. The shares of Syngene International ended 0.86% lower on Thursday. Muthoot Finance and Manappuram Finance The Reserve Bank of India (RBI) imposed penalties of ₹10 lakh and ₹5 lakh on Muthoot Finance and Manappuram Finance respectively for norm violations. The central bank has penalised Muthoot Finance for non-compliance with directions issued by RBI on maintenance of loan-to-value ratio in gold loans and on obtaining a copy of PAN card of the borrower while granting gold loans in excess of ₹5 lakh, contravening RBI norms. Manappuram Finance has been fined for non-compliance with directions issued by RBI on verification of ownership of gold jewellery The shares of Muthoot Finance ended 1% lower on Thursday, whereas Manappuram Finance lost nearly 2%. South Indian Bank South Indian Bank announced that the Marginal Cost of Funds Based Lending Rates (MCLR) for multiple tenors had been revised from November 20. One-month MCLR at 7.95% and one-year MCLR at 8.2%. The shares of South Indian Bank ended 4.14% lower on Thursday. Aarti Industries HDFC Mutual Fund reduced its stake in Aarti Industries from 7.08% to 5.08% on November 17. The shares of Aarti Industries ended 0.31% higher on Thursday. Apollo Hospitals Apollo Hospitals and Tata Medical and Diagnostics (TataMD) have collaborated to introduce TataMD CHECK diagnostic test (Feluda) for COVID-19 in India. Apollo Hospitals along with its subsidiary Apollo Diagnostics will offer the Tata MD CHECK testing in the national capital region (NCR) from the first week of December and thereafter it will be rolled out across all major metros in the country. The shares of Apollo Hospitals ended 0.84% higher on Thursday. Emami The Indian FMCG major Emami forayed into the homecare segment with its latest offering - EMASOL - a complete range for home hygiene products. The shares of Emami ended 0.42% lower on Thursday. Route Mobile Route Mobile announced that the chairman and non-executive director of the company, Chandrakant Gupta has resigned from the position of chairmanship of the board. Sandip Kumar Gupta will replace Chandrakant Gupta as the chairman of Route Mobile. The shares of Route Mobile ended 2% higher on Thursday. Zee Learn L&amp;T Infra Finance has increased its stake by 1.26 crore shares via off-market transfer from security trustee &amp; appropriated against outstanding loan amounts on November 18. L&amp;T Finance and L&amp;T Infra Finance now hold nearly 7% stake in the company. The shares of Zee Learn ended 1% lower on Thursday. Gland Pharma Gland Pharma stocks to debut on the bourses today. SEE ALSO: <a href="https://www.businessinsider.in/policy/foreign-policy/news/the-first-meeting-between-india-and-luxembourg-in-20-years-results-in-three-new-bilateral-agreements/articleshow/79305642.cms" data-type="tilCustomLink">The first meeting between India and Luxembourg in 20 years results in three new bilateral agreements</a> <a href="https://www.businessinsider.in/stock-market/news/gland-pharma-shares-demand-is-rising-in-the-grey-market-ahead-of-its-listing-tomorrow/articleshow/79302810.cms" data-type="tilCustomLink">Gland Pharma’s grey market premium rises ahead of listing today</a>

Top stocks to watch — RIL, Infosys, Vodafone-Idea, Apollo Hospitals, Emami, Route Mobile, Syngene, and others

New Delhi, Jan 22 () Syngene International on Wednesday reported 6 per cent rise in consolidated net profit to Rs 92 crore for December quarter 2019-20.
The company had posted a profit of Rs 87 crore for the year-ago period, Syngene International said in a filing to the BSE.
Total income rose to Rs 539 crore for the quarter under review as against Rs 484 crore for the same period a year ago.
 "Syngene's third quarter revenue grew 11 per cent over the corresponding quarter last year mainly driven by strong performances from Discovery Services and Development Services," Syngene International CEO Jonathan Hunt said.
Syngene International stock settled at Rs 309.15 on the BSE, up 0.82 per cent from the previous close. AKT AKT ANU
ANU

Syngene International Q3 profit up 6 pc to Rs 92 cr

New Delhi, Apr 24 () Pune-based molecular diagnostics company Mylab Discovery Solutions on Friday said it has joined hands with global contract research organisation Syngene to cater to the country's demand for RT-PCR COVID-19 testing kits amid the pandemic. This is an important step to make India self-reliant in COVID-19 testing, Mylab said in a statement. After partnerships with Serum Institute and AP Globale to scale up its manufacturing operations, this collaboration with Syngene will help Mylab secure a steady supply of indigenously made raw materials, it added. This will help in meeting the demand of RT-PCR-based COVID-19 testing kits in the country and reduce uncertainties, the statement said. Biocon Executive Chairperson Kiran Mazumdar-Shaw said, "We are pleased with this partnership to make it a truly indigenous kit." In similar vein, Serum Institute of India CEO Adar Poonawalla said India's response to COVID-19 has affirmed its global leadership. The CEO said he is happy to have a partnership with Syngene International to make Mylab's COVID-19 testing kit more indigenous, reducing dependency on foreign raw materials and to further strengthen India's self-reliance in response to COVID-19, he added. "With this collaboration, we will reduce the dependence of India on foreign testing kits and deliver our own Indian testing kits," Poonawalla said. After receiving ICMR and drug and medical device regulator CDSCO approval, Mylab has already supplied testing kits to ICMR-approved labs in over 20 states, the statement said. "It is great to see how the leaders of Indian biotechnology industry have come together and are leading by example. With their help, India will not have to depend on other countries to test its citizens for COVID-19," Mylab Discovery Solutions MD Hasmukh Rawal said. Mylab has been scaling up its production and will be able to deliver a total of 700,000 RT-PCR tests before May 3, 2020, the statement said. AKT HRS

Mylab joins hands with Syngene to cater to rising demand for COVID-19 testing kits

<keyword id="130059" type="COMPANY" weightage="100" keywordseo="Syngene-International">Syngene International</keyword> Ltd., the newly listed pharmaceutical company, soared xx percent on its market debut as a strong over subscription of its 22 million share offering ensured heavy demand on the first day. 
 
Syngene, majority controlled by listed pharma giant Biocon, gained 18.20 rupees, or 6.2 percent, to 313.20 rupees on the National Stock Exchange, where 1.246 crore shares were traded in the first two hours of trade. The issue was over subscribed 32 times with the retail part seeing a demand of more than 5 times the shares on offer. 
 Syngene is the only company in the CRAMS-bio <keyword id="34583" type="ORGANIZATION" weightage="100" keywordseo="pharmaceuticals">pharmaceuticals</keyword> space. It has a single molecule in the Contract Research And Manufacturing Space for which the New Drug Application has been filed by the innovator. 
 
The proceeds of the sale will go to Biocon since it was an offer for sale. 
 
Image credit: Indiatimes

Shares of Syngene International soared by double digit figures. Know why

MFs add shares of Indigo, Paytm, PVR & Nazara Technologies among others in February

<ul><li>The <keyword id="6354458" type="UNKNOWN" weightage="20" keywordseo="US">US</keyword> Department of Health and Human Services (HHS) has secured more than 500,000 treatment courses of the drug for American hospitals through September.</li><li>This represents 100 per cent of Gilead's projected production for July (94,200 treatment courses), 90 per cent of production in August (174,900 treatment courses), and 90 per cent of production in September (232,800 treatment courses), in addition to an allocation for clinical trials.</li></ul> The Donald Trump administration has secured nearly the entire world stock of antiviral drug <keyword id="8775508" type="UNKNOWN" weightage="20" keywordseo="remdesivir">remdesivir</keyword> from US-based Gilead Sciences for the next three months, leaving hardly any stock of the key Covid-19 drug for the rest of the world. As a result of an agreement with the drug maker announced earlier this week, the US Department of Health and Human Services (HHS) has secured more than 500,000 treatment courses of the drug for American hospitals through September. This represents 100 per cent of Gilead's projected production for July (94,200 treatment courses), 90 per cent of production in August (174,900 treatment courses), and 90 per cent of production in September (232,800 treatment courses), in addition to an allocation for clinical trials. A treatment course of remdesivir is, on average, 6.25 vials, the US Health and Human Services said. The agreement allows hospitals in the US to purchase the drug in amounts allocated by HHS and state health departments. Hospitals in the US will receive the product shipped by AmerisourceBergen and will pay no more than Gilead's Wholesale Acquisition Price (WAC), which amounts to approximately $3,200 per treatment course. "President Trump has struck an amazing deal to ensure Americans have access to the first authorised therapeutic for Covid-19," US Health and Human Services Secretary Alex Azar said in a statement. "To the extent possible, we want to ensure that any American patient who needs remdesivir can get it. The Trump Administration is doing everything in our power to learn more about life-saving therapeutics for COVID-19 and secure access to these options for the American people." Remdesivir is considered a key drug in the fight against Covid-19 as a randomised clinical trial conducted with the drug on 1,063 patients over 60 centres across US, Europe and Asia demonstrated a faster time to clinical recovery in hospitalised patients as compared to placebo. To expand supply of remdesivir, Gilead earlier announced non-exclusive voluntary licensing agreements with generic pharmaceutical manufacturers based in India, Egypt and Pakistan The agreements allow the companies -- Cipla Ltd.; Dr. Reddy's Laboratories Ltd.; Eva Pharma; Ferozsons Laboratories; Hetero Labs Ltd.; Jubilant Lifesciences; Mylan; Syngene, a Biocon company; and Zydus Cadila Healthcare Ltd. -- to manufacture remdesivir for distribution in 127 countries. The countries consist of nearly all low-income and lower-middle income countries, as well as several upper-middle- and high-income countries that face significant obstacles to healthcare access. The regulatory approval status of remdesivir varies by country, and the distribution of remdesivir within each country is subject to local laws and regulations. Under the licensing agreements, the companies have a right to receive a technology transfer of the Gilead manufacturing process for remdesivir to enable them to scale up production more quickly. The licensees also set their own prices for the generic product they produce. The licenses are royalty-free until the World Health Organization declares the end of the Public Health Emergency of International Concern regarding Covid-19, or until a pharmaceutical product other than remdesivir or a vaccine is approved to treat or prevent Covid-19, whichever is earlier.

US secures almost entire world stock of Covid-19 drug remdesivir from Gilead Sciences for the next three months

<ul><li>A single vial of Remdesivir is being sold for ₹30,000 on the black market in India. This is ten times the retail price.</li><li>Even if you’re willing to cough up the exorbitant amount, there’s still a chance that someone with deeper pockets could outbid you.</li><li>The circulation of Remdesivir in the black market extends right from the distributor to doctors in smaller private hospitals.</li></ul>The black market for drugs that could treat COVID-19 is surging in India, especially when it comes to Remdesivir. A single vial is going for up to ₹30,000. So, if a critical patient needs six vials for treatment, which is the norm, they would have to shell out ₹1,80,000 in order to procure the required dosage. That’s more than ten times the price on the regulated market. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup></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;">Name of the company </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;">Brand name for Remdesivir </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;">Maximum retail price (MRP) </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;">Cadila Healthcare </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;">REMDAC </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;">₹899 </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;">Syngene International </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;">RemWin </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;">₹2,450 </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 Reddy’s Laboratories </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;">REDYX </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;">₹2,700 </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;">CIPREMI </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;">₹3,000 </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;">Mylan Pharmaceuticals </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;">DESREM </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;">₹3,400 </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;">Jubilant Generics </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;">JUBI-R </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;">₹3,400 </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;">Hetero Healthcare </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;">COVIFOR </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;">₹3,490 </td></tr></tbody></table> Remdesivir is not proven to help in recovery from the Coronavirus, but it is one of the few treatment methods that has been approved by the Indian government. "There are very few drugs which have been authorised by the government. Remdesivir is one of them, even though there is no certainty that this will work or not," a doctor at a government hospital in India told Business Insider. <cmsannotation type="cmsannotation" annotationid="You maybe ready to pay a higher price — but you could still be outbid" comment="subhead" text="You maybe ready to pay a higher price — but you could still be outbid">You maybe ready to pay a higher price — but you could still be outbid</cmsannotation> Hansa’s (named changed to protect identity) uncle is in Delhi, in a critical condition, and the doctors have prescribed Remdesivir in hopes of treatment. The only problem is that no licensed pharmacy in Delhi seems to have it in stock. “We were supposed to get six vials in the morning for ₹35,000 through a doctor contact. Turns out somebody was ready to pay ₹50,000 for them and the vials went to them,” she told Business Insider India. “Another doctor told us that procured six vials for ₹80,000 for another patient.” And these prices are just the lower end of the stick. Aakash (named changed) told Business Insider he can procure a single vial for ₹30,000. In the bargaining process, he did highlight that vials are also available for ₹15,000 to ₹26,000 apiece, but not in Delhi. Anyone who wanted Remdesivir at those prices would have to procure it from outside the city. <cmsannotation type="cmsannotation" annotationid="How to buy Remdesivir on the black market?" comment="subhead" text="How to buy Remdesivir on the black market?">How to buy Remdesivir on the black market?</cmsannotation> Just like with other deals on the black market, what matters is who you know. The right connections and the right amount of trust can open a lot of doors. For the common man, the best bet is just to keep in touch with their doctors. Doctors know everyone down the supply chain and can help a patient, who is truly in need, get in touch with a supplier who may possibly have Remdesivir. Someone who doesn’t have a well-connected doctor is likely to reach out within his friend’s group. And, eventually, someone will know someone, who may be able to get them in touch with a supplier. But trust has a greater role to play here. “The first question he asked me was, who needs it? I told him it was for someone special, who can be trusted. He only agreed to let me have the vials if I could vouch for my friend,” Aakash told Business Insider. <cmsannotation type="cmsannotation" annotationid="The private hospital game" comment="subhead" text="The private hospital game">The private hospital game</cmsannotation> Sources who have bought Remdesivir by getting in touch with their doctors insist that doctors are not taking a commission. But distributors on the other end of the supply chain have a different story to tell. According to workers at distribution companies, doctors at government hospitals are prepared to treat patients even with alternative medicines available in the market — like steroids, which have proven to be effective in patients with moderate and severe symptoms. But, when it comes to private hospitals, especially smaller ones in semi-urban cities, healthcare workers are paid such meagre salaries. According to sources, selling medicines on the side or making medicines disappear overnight so that the patient is forced to buy more, is the norm. “When you know there are alternatives available in the market, then why aren’t doctors recommending that patients go for them. Why are they insisting on Remdesivir?” an employee at the distribution company told Business Insider. “In most cases, especially in smaller cities, the doctors are involved.” According to him, all the doctor has to say is that Remdesivir is a superior option to other medication, and the patient or his loved one is obviously going to try and get the ‘best’ option in a situation of crisis. <cmsannotation type="cmsannotation" annotationid="The black market supply chain" comment="subhead" text="The black market supply chain">The black market supply chain</cmsannotation> All doses of Remdesivir, no matter what brand, are going to come from the big seven pharmaceutical giants in India currently manufacturing the vials. These pharmaceutical companies send the medicine to the distributors, who are in turn supposed to dole out the doses to licensed pharmacies. But that’s where things get a little murky. Distributors do give a certain portion of the shipment to pharmacies because they need those records on their books, but the rest of the stock is given to people who are in his known circle. So, when someone comes looking for Remdesivir, the distributor directs them to one of the people within his circle who may have hoarded some of the doses. And, going to a third party, who is not a license holder, makes it a black market deal. SEE ALSO: <a href="https://www.businessinsider.in/politics/policy/article/if-the-covid-19-vaccine-prices-are-too-high-for-some-then-why-not-use-direct-benefit-transfer/articleshow/82200370.cms">If the COVID-19 vaccine prices are too high for some, then why not use direct benefit transfer</a> <a href="https://www.businessinsider.in/india/news/while-covid-19-is-making-millions-gasp-for-breath-in-india-state-administrations-are-trying-to-hoard-oxygen/articleshow/82199390.cms">The COVID-19 crisis in India is getting worse with state administrations trying to hoard oxygen</a>

Inside the treacherous black market for Remdesivir in India— from private hospitals to distributors

The government has approved FDI worth around Rs. 4,000 Crores for four pharma and medical devices firms. 
 
The accepted list includes Torrent Pharmaceuticals and Biocon's Syngene. However, Strides Arcolab was not allowed to issue shares to non-resident and resident equity shareholders of Shasun Pharmaceuticals. Three other drug companies’ applications have been delayed. 
 
The government’s decision to allow Torrent Pharmaceuticals' Rs. 3,000 Crores proposal for increasing FII limit to 35% from 13.09% was the biggest today. Syngene's proposal to raise FDI of about Rs. 930 Crores by raising the foreign investment to 44% from the current 10% was the second biggest in the pharmacy sector today. 
 
Others given approval are Stericat Gut Strings Pvt Ltd for FDI of Rs 43.52 Crores as it wants to sell 77.5% of its shares to Groupe Peters Surgical LLC 
 
Ordain Health Care Global Pvt Ltd was also allowed FDI of Rs. 23.34 Crore to buy assets from Alkems Fertica. 
 
The list whose proposals were delayed includes Celon Laboratories, Shantha Biotechnics and Sparsha Pharma International. 
 
(Image credit: Indiatimes)

Whopping Rs. 4,000 Crores FDI boost for Indian Pharma

The central government has approved eight <keyword id="44749" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword> (<keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword>) proposals worth Rs 34.77 crore. “Based on the recommendations of <keyword id="62529" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Investment-Promotion-Board">Foreign Investment Promotion Board</keyword> (<keyword id="6360345" type="ORGANIZATION" weightage="20" keywordseo="FIPB">FIPB</keyword>)...government has approved eight proposals of foreign direct investment amounting to Rs.34.77 crore approximately,” revealed an official release. 
 
UK-based CSC Computer Sciences International Operations had asked for the government’s approval to set up a limited liability partnership (LLP) worth Rs 30 crore. Proposals of Mahanagar Gas Limited, Medicamen Biotech Ltd, TutorVista Global Private Ltd, Ventura (India) Pvt Ltd, Syssmart Services LLP and Mahindra CIE Automotive Ltd also the government’s clearance. 
 “In the FIPB meeting, a proposal relating to <keyword id="131506" type="CITY" weightage="20" keywordseo="Lupin-Ltd">Lupin Ltd</keyword> was recommended for consideration of Cabinet Committee on Economic Affairs (CCEA) as the investment involved was above Rs1,200 crore,” the release stated. Decision on as many as 12 proposals, including Syngene International Ltd, India Value Fund IV, SME <keyword id="6357264" type="ORGANIZATION" weightage="20" keywordseo="capital-market">Capital Market</keyword> Corporation, SNC-Lavalin Mauritius Ltd and Verint Systems (India) Pvt Ltd, were put off.

8 FDI Proposals Worth Rs 35 Crore Gets Govt’s Nod

There have certainly been some good return opportunities too. Nineteen firms have launched initial public offerings (IPOs) between September last year and September 2015, of which 11 firms have given smart return to investors, Centrum Wealth Executive Director and Chief Investment Officer Kunj Bansal told PTI.
 

	The remaining eight companies have been trading below their issue price.
 Among the new listings, <keyword id="1004271" type="UNKNOWN" weightage="100" keywordseo="Snowman-Logistics">Snowman Logistics</keyword> has emerged as the most sought after stock. The shares of Snowman Logistics have shot 80.21 per cent against its issue price of Rs 47. 

	Second in line is VRL Logistics whose shares have given a positive return of 80 per cent to its investors. Its shares are currently at Rs 368.50 as compared to the issue price of Rs 205.
 Similarly, shares of Sharda Cropchem gained 57.4 per cent per cent over the issue price of Rs 156, <keyword id="6354298" type="ORGANIZATION" weightage="100" keywordseo="stocks">stocks</keyword> of Shemaroo Entertainment climbed 57.5 per cent against the issue price of Rs 170. 

	Also, shares of Syngene International shot up 41 per cent over the issue price of Rs 250, PNC Infratech rose 37 per cent against the issue price of Rs 378 and Manpasand Beverages increased 29 per cent over the issue price of Rs 320.
 

	Further, Prabhat Dairy, Shree Pushkar Chemicals &amp; Fertilisers, Inox Wind too have rewarded their investors with positive returns.
 However, Adlabs Entertainment and <keyword id="3319" type="CITY" weightage="100" keywordseo="monte-Carlo">Monte Carlo</keyword> Fashions are experiencing more than 30 per cent loss each. 

	Shares of Adlabs Entertainment, are trading way below the issue price of Rs 180. The stock is currently at Rs 105, down 42 per cent from the issue price.
 

	Besides, Monte Carlo shares have fallen 32 per cent over its issue price of Rs 645.
 The stocks of MEP Infrastructure Developers, <keyword id="43930" type="ORGANIZATION" weightage="100" keywordseo="UFO">UFO</keyword> Moviez India, Pennar Engineered Building Systems and Power Mech Projects are trading below their respective issue price. 
	(Image credits: Indiatimes)

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