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Latest From Penelope MacRae
Panacea Biotec has received another piece of good news as it strives to return to profit – this time from Ukraine which has awarded a GMP certificate to the Indian drug firm to supply 22 medicinal products to the country. It also opens up 49 other nations for the firm’s products.
Many global pharmaceutical companies are well launched on their digital marketing “journeys” to engage with customers, but most of their Indian peers are still only at the beginner’s stage, says a new EY report, warning this could have critical implications in an increasingly competitive market.
India has come up with a draft policy proposal to end the dependence of the country’s generic drug industry on Chinese bulk drug imports but it’s sketchy on measures, at least so far, to promote domestic production and “needs work.”
A new Deloitte report says medtech could help bridge the gap in India between the vast number of patients requiring health care and the small medical manpower available that’s led to a public health care crisis. However, the government needs to create a more conducive investment climate for medical device players to build this bridge.
Panacea Biotec is expanding its partnership with Apotex to launch a copycat version of Eli Lilly’s Effient in the US, part of an alliance-building strategy with global players that the Indian firm hopes can help pull it out of an earnings tailspin.
Indian drug firm Strides Shasun has acquired the Australian unit of Amneal Pharmaceuticals, extending its customer footprint as it sets sights on becoming the leading player in the Australian generics market.