Pharma

The other pharma players the prices whose cancer medicines have been reduced are Natco Pharma and Emcure pharmaceuticals among others, it added.

Under the agreements, Cipla will divest its 100 per cent stake in Cipla Agrimed Proprietary South Africa and Cipla Vet Proprietary, South Africa, it said.

The company, however, did not provide any details about the reasons for the issuance of warning letter and when it was issued.

Pharma major Lupin Ltd has received final approval from the USFDA to market sodium sulfate, potassium sulfate, magnesium sulfate oral solution used in treatment of a form of cancer.

Dr Reddy's Laboratories on Thursday said it has received an unfavourable ruling in a US court regarding a patent infringement case over Aloxi.

Dr Reddy's is recalling Olanzapine tablets USP of 2.5 mg while Aurobindo is recalling Pantoprazole Sodium for Injection, 40mg per vial from the market, the notification issued by the US regulator said.

Among the key issues of concern for the US pharma sector in India are unpredictable IP environment, high tariffs and taxes on medicines among others.

Drug firm Ajanta Pharma on Thursday said the US health regulator has issued one observation for its Paithan facility in Aurangabad after the inspection.

The recall is being initiated by Sun Pharmaceutical Industries Inc for 2,71,212 bottles of bupropion hydrochloride extended-release tablets, USP (SR) in the strengths of 150 mg and 200 mg, the FDA said.

Mr Piramal curtailed his presence in healthcare after he sold erstwhile Piramal Healthcare's domestic formulations division for $3.7 billion to Abbott in 2010.

With the growth momentum hit hard by the notes ban, Nomura had earlier projected GDP growth to dip to 6.9 per cent in 2017 from 7.1 per cent in 2016, with a sharp slowdown in the first half of the current year.

In respect of medicines not under price control, manufacturers are allowed to increase the maximum retail price by 10 per cent annually.

The FDA had inspected the Kothur formulation facility between January 16-24, 2017, Natco Pharma said in a statement.

Natco Pharma said it will provide due justifications and corrective action plan within next 15 working days to the address the USFDA observations.

There were media reports saying the company has got import alert from USFDA for its Paithan unit at Aurangabad for which BSE had sought for a clarification from Ajanta Pharma.