NEWS

For our visitors who seek the latest industry news and updates to keep abreast with the goings-on of the business on a global scale, Pharmaceutical Industry portal grants a dynamic and diverse feed of news items.

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Drug major Cipla is recalling in the US market 1,40,625 vials of Levalbuterol Inhalation Solution used for relieving shortness of breath and coughing caused by asthma and chronic obstructive pulmonary disease. As per the information available on the USFDA website, Cipla is recalling the drug for "failed impurities and degradation…

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Glenmark Pharmaceuticals today said it has been granted tentative approval by the US health regulator to sell Rufinamide, which is used to treat seizures caused by Lennox-Gastaut syndrome. Lennox-Gastaut syndrome is a form of childhood-onset epilepsy. "Glenmark...has been granted tentative approval last week by the United States Food and Drug…

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Valeant Pharmaceuticals International Inc (VRX.TO) (VRX.N) is in talks to buy Egyptian drugmaker Amoun Pharmaceutical Co to expand its veterinary and human medicines portfolio, Bloomberg reported, citing people familiar with the matter. A sale could value Amoun at $700 million to $800 million, Bloomberg reported. (bloom.bg/1EXe5PQ) Valeant was not immediately…

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Belgian biotech group Ablynx sold 100 million euros ($111 million) of convertible bonds on Wednesday to fund its research and further tests of experimental drugs. Ablynx said the bonds with an annual coupon of 3.25 percent and a maturity of five years were sold to qualified investors. The bonds would…

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U.S. healthcare conglomerate Johnson & Johnson said on Wednesday it expects to submit more than 10 new medicines with annual revenue potential of at least $1 billion each to regulators by 2019, and is testing dozens of new uses for existing medicines. J&J said it would file for approval of…

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CVS Health Corp, the second-largest U.S. drugstore operator, is nearing a deal to buy pharmacy service provider Omnicare Inc for more than $12 billion, according to two people familiar with the matter. A deal between the two companies could be announced as early as Thursday, one of the people said.…

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Canada's Medicago, a biotech that is using plant technology to manufacture vaccines against Ebola and other viruses, will build a $200 million manufacturing facility in Quebec City. The company is getting substantial support from taxpayers but says when complete, it will more than double its workforce there. The $245 million…

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Shares of Glenmark Pharmaceuticals were trading higher by 3% to Rs 928 on the NSE early this morning after the Reserve Bank of India (RBI) allowed foreign institutional investors (FIIs) to buy up to 49% stake in the drug maker. Foreign Institutional Investors (FIIs) through primary market and stock exchanges,…

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Livzon Pharmaceutical Group Inc Says signs agreement to invest $9 million to subscribe to U.S. firm Cynvenio's series B preferred stock. Says signs framework agreement with Cynvenio to form a JV in China with registered capital 124 million yuan.   in.reuters.com

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Dublin-domiciled specialty pharmaceuticals company Mallinckrodt is to create 45 highly-skilled jobs as part of a €45 million investment. The company is to establish a new manufacturing facility at the College Business and Technology Park in Blanchardstown, Dublin 15. The development will provide 300 jobs during the two-year construction phase and…