Latest news with #IndianPharma
Reuters
01-07-2025
- Business
- Reuters
India's Lupin to spin off consumer healthcare business
July 1 (Reuters) - Indian drugmaker Lupin ( opens new tab said on Tuesday it will spin off its consumer healthcare business, LupinLife Consumer Healthcare into a separate unit, effective July 1.
Reuters
29-06-2025
- Business
- Reuters
India's Torrent Pharma to acquire controlling stake in JB Chem and Pharma
June 29 (Reuters) - India's Torrent Pharmaceuticals ( opens new tab said on Sunday it will acquire a 46.39% controlling stake in smaller peer JB Chemicals and Pharmaceuticals ( opens new tab from New York-based investment firm KKR (KKR.N), opens new tab, and plans to merge the two drugmakers. The transaction, announced in a joint statement released by the three companies, implies a total equity valuation of 256.89 billion rupees ($3.01 billion) for JB Pharma on a fully diluted basis. "This strategic alignment furthers our goal of strengthening our presence in the Indian pharma market, and building a larger diversified global presence," Torrent Executive Chairman Samir Mehta said in the statement. Under the terms of the deal, Torrent will initially acquire an equity stake in JB Pharma from KKR for 119.17 billion rupees. Following this, Torrent will launch a mandatory open offer to acquire up to an additional 26% of JB Pharma shares from public shareholders at 1,639.18 rupees per share. Torrent also signaled its intent to acquire up to 2.80% of equity shares from certain JB Pharma employees, the company said. The second phase of the transaction involves a merger of Torrent and JB Pharma through a scheme of arrangement. Upon merger, JB Pharma shareholders will receive 51 Torrent shares for every 100 JB Pharma shares held. KKR also confirmed the deal in a separate statement. "We are confident that the combined strengths of our organizations will unlock greater opportunities to enhance healthcare access across our markets," said JB Pharma CEO Nikhil Chopra. India is Torrent's biggest market by revenue, where it competes with peers such as Mankind Pharma ( opens new tab. Torrent offers drugs used to treat cancer, infections and diabetes, and has benefited from steady demand for its specialty and chronic illness drugs. For the January-March quarter, its consolidated net profit was up 11% from a year earlier. JB Chemicals and Pharmaceuticals, meanwhile, reported higher fourth-quarter profit in May. Along with the steady market for its gastrointestinal medicines, Metrogyl and Sporlac, the company also benefitted from demand for its drugs that treat chronic conditions such as hypertension. ($1 = 85.4400 Indian rupees)
Reuters
21-05-2025
- Business
- Reuters
India's Mankind Pharma beats profit estimates on demand for drugs to treat chronic illnesses
May 21 (Reuters) - Indian drugmaker Mankind Pharma ( opens new tab reported a fourth-quarter profit that beat analysts' estimates on Wednesday, driven by strong domestic demand for its drugs to treat long-term illnesses. The company, which makes 'Gas-O-Fast' antacid tablets and 'Manforce' condoms, reported a 10.7% drop in consolidated net profit of 4.21 billion rupees ($49.2 million) for the quarter ended March 31. However, that was higher than analysts' average estimates of 3.60 billion rupees, according to data compiled by LSEG. Overall revenue climbed 27% to 30.79 billion rupees. Its domestic market share of chronic illness drugs increased to 39.2% from 37.5%. For further earnings highlights, click KEY CONTEXT The Indian pharmaceutical market grew 7% during the quarter, led by a 9% jump in the chronic segment, according to IQVIA data. This benefitted Mankind Pharma and its peer Torrent Pharma ( opens new tab, which rely on their drugs to treat long-term conditions, such as diabetes and hypertension, for most of their sales. Moreover, Mankind said gains from its $1.6 billion acquisition of Bharat Serums and Vaccines, further boosted results. Torrent Pharma ( opens new tab, however, missed quarterly profit estimates due to currency depreciation in Brazil. PEER COMPARISON * The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT JANUARY TO MARCH STOCK PERFORMANCE -- All data from LSEG -- $1 = 85.5320 Indian rupees
Reuters
13-05-2025
- Business
- Reuters
India's GlaxoSmithKline Pharma reports profit rise on strong demand
May 13 (Reuters) - India's GlaxoSmithKline Pharmaceuticals ( opens new tab reported a higher fourth-quarter profit on Tuesday, led by steady demand for its generic drugs. The Indian unit of British drugmaker GSK (GSK.L), opens new tab reported consolidated profit of 2.63 billion rupees ($30.86 million) in the quarter ended March 31, up 35% year-on-year. Its revenue from operations climbed about 5% to 9.74 billion rupees. For further results highlights, click KEY CONTEXT GlaxoSmithKline Pharma has been benefitting from rising market share for its antibiotic Augmentin and respiratory drugs Nucala and Trelegy. Strong demand for its shingles vaccine, Shingrix, has also boosted earnings, the company said. These have also helped it mitigate the impact of pricing curbs on some of its drugs that have been on the Indian government's essential medicines list since September 2022. PEER COMPARISON * The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell ** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT JANUARY TO MARCH STOCK PERFORMANCE -- All data from LSEG -- $1 = 85.2150 Indian rupees
Reuters
13-05-2025
- Business
- Reuters
India's Cipla beats quarterly profit view on strong demand
May 13 (Reuters) - Cipla ( opens new tab, India's No. 3 drugmaker by sales, reported a fourth-quarter profit that beat estimates on Tuesday, helped by strong demand for its generic respiratory drugs. The company's consolidated net profit came in at 12.22 billion rupees ($143.5 million) in the January-March period. Analysts, on average, expected 10.24 billion rupees, per data compiled by LSEG. ($1 = 85.1560 Indian rupees)
