Lupin launches gTamiflu in US

Lupin has launched generic of Tamiflu Capsules, 30 mg, 45 mg, and 75 mg in the US market. The drug was approved on January 9, 2018, and the company has immediately launched it in the US market.

Tamiflu (Oseltamivir Phosphate) is a Hoffman-La Roche, Inc’s drug which had annual sales of approximately USD 467.8 million in the US as per IMS data in October 2017.

Oseltamivir Phosphate Capsules USP, 30 mg, 45 mg, and 75 mg had annual sales of approximately USD 467.8 million in the US. (IMS MAT October 2017).

While this news is positive for Lupin, it is also negative for Natco Pharma and Cadila Healthcare who already have their gTamiflu version in the US market.

CG power bags order for power transformers from Indonesia

CG Power Systems Indonesia, a wholly owned subsidiary of CG Power & Industrial Solutions Ltd has bagged an order from Indonesian state utility PT PLN (Persero) for manufacturing and supply of 64 units of power transformers valued at IDR744bn (~Rs353cr). This project is to be funded by Islamic Development Bank to support PLN’s goal to enhance its transmission grid performance. The project will be completed by December 2018. CG Power will complete the supplies against the order by December 2018.

The scope of work includes site survey, design, manufacturing, supply and installation of 64 units (4400 MVA) of Power Transformers in PLN regions spread from Aceh to Papua over Sumatra, Java, Kalimantan, Sulawesi, Papua and Malukku Islands of Indonesia.

Sun Pharma gains as USFDA inspection starts at Halol

Shares of Sun Pharma are trading up on the media reports that its Halol plant is undergoing USFDA inspection. This inspection was scheduled in this month upon the invitation by the company.

This facility, in January 2018, received a clearance from a Dutch drug regulator. Halol is an important plant for Sun Pharma which holds a key for Sun Pharma’s US formulation business. Sun Pharma’s US business has been impacted in the last couple of years as ANDA approvals have been delayed due to the observations at Halol. The Halol facility received 9 observations in the re-inspection by USFDA in Q3FY17.

Cadila, Ajanta reports successful USFDA inspection

Ajanta Pharma and Cadila Healthcare have reported that their manufacturing facilities have completed successful USFDA inspection without any adverse observation.

Cadila’s Moraiya facility was audited by USFDA as a surprise inspection which was triggered due to the product recalls last year. Moraiya is key facility for Cadila as significant number ANDAs are filled from this facility. This facility had been under import alert prior to its clearance by the USFDA last year.

Ajanta’s formulation facility at Dahej was inspected by USFDA from 5-9 February, 2018 and no Form 483 was issued.

Vakrangee Board approves the one-time capital allocation policy

Vakrangee Board has announced that it has approved the one-time capital allocation policy, which entails the deployment of funds towards share buyback, dividend pay-out and re-investment in the business.

As per the announcement, the company had total available cash of Rs1,372cr as on December 31, 2017, and it intends to deploy Rs1,000cr for share buyback where the promoters will not partake in the process, Rs250cr for the dividend payout. Further, the one-time capital allocation policy entails Rs122cr to be utilized for re-investment in business for Organic Business Growth, Technology and R&D, Training Infrastructure, Brand Building Initiatives and Contingency Fund.

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