Lupin receives USFDA approval for Loteprednol Etabonate Ophthalmic Gel
Loteprednol Etabonate Ophthalmic Gel, 0.38% is a corticosteroid indicated for the treatment of postoperative inflammation and pain following ocular surgery.
Loteprednol Etabonate Ophthalmic Gel, 0.38% (RLD Lotemax SM) had an estimated annual sale of USD 29 million in the U.S. (IQVIA MAT May 2025).
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Time of India
31 minutes ago
- Time of India
Luxury sector pins hopes on Middle East despite clouds from conflict
HighlightsLuxury sales in Gulf countries increased by 6 percent to USD 12.8 billion last year, outpacing a global drop of 2 percent, driven by strong demand for high-end fashion, jewelry, and beauty products. The Middle East's luxury market heavily relies on tourism, with an estimated 50-60 percent of luxury sales coming from tourists, highlighting the importance of maintaining visitor numbers amid regional unrest. Despite recent volatility due to geopolitical tensions, brands like Prada and Hermes reported significant sales growth in the region, with Prada's first-quarter sales rising by 26 percent year-on-year. With Middle East airspace reopening and the U.S.-brokered ceasefire between Israel and Iran appearing to hold, the luxury sector is still counting on the region's wealthy shoppers to help offset weakness in its main U.S. and Chinese markets - for now. The Middle East, helped by strong tourist flows and local wealth, has bucked a recent global slowdown in luxury sales that is expected to deepen this year, with some brands growing sales there at double-digit rates. Luxury sales in Gulf countries were up 6 per cent to USD 12.8 billion of the nearly USD 400 billion market last year, outpacing a global drop of 2 per cent , with strong appetite for high-end fashion, jewellery and beauty products, retail consultant Chalhoub Group said. However, that trade is heavily dependent on the region's burgeoning tourist trade, with consulting firm Bain estimating that some 50-60 per cent of the Middle East's luxury sales come from tourists. This month's outbreak of an air war between Israel and Iran emphasised the ongoing risks in a region in which unrest was already simmering, with airlines cancelling flights and rerouting planes following Israel's strikes against Iran on June 13 - measures that are now being unwound. "At this point, we have not adjusted our long-term growth forecast, as we continue to see considerable potential in the region," said Federica Levato, senior partner at Bain. "However, short-term volatility has increased in the last few weeks and may continue, depending on how the situation develops." The region is an important hub for travel spending, favoured by Russian oligarchs but also wealthy Asians, and has increased in importance since Russia's invasion of Ukraine triggered sanctions and the rerouting of flights between Europe and Asia from more northerly routes to the Middle East. It also serves as a gateway for high-end brands to reach wealthy shoppers from India, where high tariffs have kept companies like LVMH from expanding store networks. Max Heinemann, co-CEO of travel retail group Gebr Heinemann, which recently expanded into Saudi Arabia and operates airport fashion retail stores carrying luxury brands in Jeddah, said the region's travel market has shown long-term resilience despite unrest. He remains optimistic. "Dips may be witnessed, but growth will remain," he said. At Prada, first-quarter sales in the region rose 26 per cent year-on-year, while Hermes' sales there were up 14 per cent . High-end fashion and jewellery brands have been opening new stores and hosting splashy events. Milan-based menswear label Zegna this month took its spring collection to the opera house in Dubai, the region's leading luxury hub, for a catwalk show in an elaborate set evoking an Italian villa. Elie Saab held its 45th anniversary show in Riyadh last November, featuring a performance from Celine Dion. Dior, Saint Laurent and Valentino last year opened stores in Bahrain, while this year Louis Vuitton brought guests to the Dubai desert for a dawn meal and Chanel hosted a dinner in Abu Dhabi linked to a high jewellery launch. But maintaining visitor numbers to Middle Eastern destinations will be vital to bringing shoppers through the doors. Luxury travel agency Global Travel Moments says that for now, its long-term travel volumes to the Middle East have been unaffected by the latest unrest. However, given recent events, there is currently "certainly more caution" before finalizing trips to the broader Middle East, it said.
Time of India
an hour ago
- Time of India
Analysis shows Trump's tariffs would cost US employers USD 82.3 billion
An analysis finds that a critical group of US employers would face a direct cost of USD 82.3 billion from President Donald Trump 's current tariff plans , a sum that could be potentially managed through price hikes, layoffs, hiring freezes or lower profit margins. The analysis by the JPMorganChase Institute is among the first to measure the direct costs created by the import taxes on businesses with USD 10 million to USD 1 billion in annual revenue, a category that includes roughly a third of private-sector US workers. These companies are more dependent than other businesses on imports from China, India and Thailand - and the retail and wholesale sectors would be especially vulnerable to the import taxes being levied by the Republican president. The findings show clear trade-offs from Trump's import taxes, contradicting his claims that foreign manufacturers would absorb the costs of the tariffs instead of US companies that rely on imports. While the tariffs launched under Trump have yet to boost overall inflation, large companies such as Amazon, Costco, Walmart and Williams-Sonoma delayed the potential reckoning by building up their inventories before the taxes could be imposed. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dukung Orang Terkasih Menghadapi Limfoma: Mulai Di Sini Limfoma Baca Undo The analysis comes just ahead of the July 9 deadline by Trump to formally set the tariff rates on goods from dozens of countries. Trump imposed that deadline after the financial markets panicked in response to his April tariff announcements, prompting him to instead schedule a 90-day negotiating period when most imports faced a 10 per cent baseline tariff. China, Mexico and Canada face higher rates, and there are separate 50 per cent tariffs on steel and aluminum. Had the initial April 2 tariffs stayed in place, the companies in the JPMorganChase Institute analysis would have faced additional direct costs of USD 187.6 billion. Under the current rates, the USD 82.3 billion would be equivalent on average to USD 2,080 per employee, or 3.1 per cent of the average annual payroll. Those averages include firms that don't import goods and those that do. Live Events Asked Tuesday how trade talks are faring, Trump said simply: "Everything's going well." The president has indicated that he will set tariff rates given the logistical challenge of negotiating with so many nations. As the 90-day period comes to a close, only the United Kingdom has signed a trade framework with the Trump administration. India and Vietnam have signalled that they're close to a trade framework. There is a growing body of evidence suggesting that more inflation could surface. The investment bank Goldman Sachs said in a report that it expects companies to pass along 60 per cent of their tariff costs onto consumers. The Atlanta Federal Reserve has used its survey of businesses' inflation expectations to say that companies could on average pass along roughly half their costs from a 10 per cent tariff or a 25 per cent tariff without reducing consumer demand. The JPMorganChase Institute findings suggest that the tariffs could cause some domestic manufacturers to strengthen their roles as suppliers of goods. But it noted that companies need to plan for a range of possible outcomes and that wholesalers and retailers already operate on such low profit margins that they might need to spread the tariffs costs to their customers. The outlook for tariffs remains highly uncertain. Trump had stopped negotiations with Canada, only to restart them after the country dropped its plan to tax digital services. He similarly on Monday threatened more tariffs on Japan unless it buys more rice from the US. Treasury Secretary Scott Bessent said in a Tuesday interview that the concessions from the trade talks have impressed career officials at the Office of the US Trade Representative and other agencies. "People who have been at Treasury, at Commerce, at USTR for 20 years are saying that these are deals like they've never seen before," Bessent said on Fox News Channel's "Fox & Friends." The treasury secretary said the Trump administration plans to discuss the contours of trade deals next week, prioritizing the tax cuts package passed on Tuesday by the Republican majority in the Senate. Trump has set a Friday deadline for passage of the multitrillion-dollar package, the costs of which the president hopes to offset with tariff revenues.
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Business Standard
an hour ago
- Business Standard
Trump's tariffs may cost US employers $82.3 bn, hit retail hard: Analysis
An analysis finds that a critical group of US employers would face a direct cost of USD 82.3 billion from President Donald Trump's current tariff plans, a sum that could be potentially managed through price hikes, layoffs, hiring freezes or lower profit margins. The analysis by the JPMorganChase Institute is among the first to measure the direct costs created by the import taxes on businesses with USD 10 million to USD 1 billion in annual revenue, a category that includes roughly a third of private-sector US workers. These companies are more dependent than other businesses on imports from China, India and Thailand and the retail and wholesale sectors would be especially vulnerable to the import taxes being levied by the Republican president. The findings show clear trade-offs from Trump's import taxes, contradicting his claims that foreign manufacturers would absorb the costs of the tariffs instead of US companies that rely on imports. While the tariffs launched under Trump have yet to boost overall inflation, large companies such as Amazon, Costco, Walmart and Williams-Sonoma delayed the potential reckoning by building up their inventories before the taxes could be imposed. The analysis comes just ahead of the July 9 deadline by Trump to formally set the tariff rates on goods from dozens of countries. Trump imposed that deadline after the financial markets panicked in response to his April tariff announcements, prompting him to instead schedule a 90-day negotiating period when most imports faced a 10 per cent baseline tariff. China, Mexico and Canada face higher rates, and there are separate 50 per cent tariffs on steel and aluminum. Had the initial April 2 tariffs stayed in place, the companies in the JPMorganChase Institute analysis would have faced additional direct costs of USD 187.6 billion. Under the current rates, the USD 82.3 billion would be equivalent on average to USD 2,080 per employee, or 3.1 per cent of the average annual payroll. Those averages include firms that don't import goods and those that do. Asked Tuesday how trade talks are faring, Trump said simply: Everything's going well. The president has indicated that he will set tariff rates given the logistical challenge of negotiating with so many nations. As the 90-day period comes to a close, only the United Kingdom has signed a trade framework with the Trump administration. India and Vietnam have signalled that they're close to a trade framework. There is a growing body of evidence suggesting that more inflation could surface. The investment bank Goldman Sachs said in a report that it expects companies to pass along 60 per cent of their tariff costs onto consumers. The Atlanta Federal Reserve has used its survey of businesses' inflation expectations to say that companies could on average pass along roughly half their costs from a 10 per cent tariff or a 25 per cent tariff without reducing consumer demand. The JPMorganChase Institute findings suggest that the tariffs could cause some domestic manufacturers to strengthen their roles as suppliers of goods. But it noted that companies need to plan for a range of possible outcomes and that wholesalers and retailers already operate on such low profit margins that they might need to spread the tariffs costs to their customers. The outlook for tariffs remains highly uncertain. Trump had stopped negotiations with Canada, only to restart them after the country dropped its plan to tax digital services. He similarly on Monday threatened more tariffs on Japan unless it buys more rice from the US. Treasury Secretary Scott Bessent said in a Tuesday interview that the concessions from the trade talks have impressed career officials at the Office of the US Trade Representative and other agencies. People who have been at Treasury, at Commerce, at USTR for 20 years are saying that these are deals like they've never seen before, Bessent said on Fox News Channel's Fox & Friends. The treasury secretary said the Trump administration plans to discuss the contours of trade deals next week, prioritizing the tax cuts package passed on Tuesday by the Republican majority in the Senate. Trump has set a Friday deadline for passage of the multitrillion-dollar package, the costs of which the president hopes to offset with tariff revenues.
