Page 155 - CW E-Magazine (6-8-2024)

Pharmaceuticals

SELF-DECLARATION
Govt. extends deadline for submission of unethical

marketing practices undertaking

The Central Government has extend- These requirements were brought in
ed the deadline for pharma and medi- by the government after Micro Labs –
cal device company bosses to fi le their the makers of Dolo 650-mg - was
legal self-declarations assuring the allegedly found to be offering freebies
government that they will not indulge to doctors during COVID-19 pandemic
in unethical marketing practices to to prescribe its anti-fever medicine.
promote their drugs.
The UCPMP was rolled out in
These companies can now fi le the ted the Department of Pharmaceuticals March 2024 with an objective to bring
self-declaration undertaking till 31 (DoP) to extend the deadline. transparency and ensure ethical conduct
July 2024, wherein top executives from by pharmaceutical and medical device
these fi rms must assure the government “With reference to this Department’s making companies in their marketing
that they will not engage in unethical Circular dated 28th May 2024 made practices. It also restricted them from
marketing practices. These undertak- under Uniform Code for Pharmaceutical offering freebies such as gifts, travel,
ings are required to be fi led for FY25 Marketing Practices (UCPMP)-2024, hospitality and monetary benefi ts to the
under the Uniform Code for Pharma- it is informed that the time for submit- doctors for prescribing a particular medi-
ceutical Marketing Practices (UCPMP), ting the self-declaration under UCP- cine. Not fi ling the declarations in time
2024. Given the inability of some drug MP-2024 has been further extended till or adhering to other norms set out under
and medical device makers to meet the 31.07.2024,” stated the DoP’s communi- the code would allow the government to
set deadline, some of them had reques- cation to pharma associations. take action against these companies.

MARKET RUMOURS
Torrent Pharma said be in talks with KKR for its

stake in JB Chemicals

Ahmedabad-based Torrent Pharma- dialogue with Torrent Pharma to sell its then, the stock has appreciated 2.6
ceuticals is reportedly in discussions to stake in the Mumbai-based pharmaceu- times and had touched a new 52-week
acquire private equity fi rm KKR’s nearly tical fi rm but it has also been in talks high of Rs. 1,958 recently. The shares
54% stake in smaller rival JB Chemi- with some other drug manufacturers have appreciated over 13 percent since
cals and Pharmaceuticals for a deal size and private equity fi rms. April 1 this year. At the current market
of Rs. 17,000-crore or higher. price, KKR’s 53.77 percent stake in
In 2020 KKR acquired a 54 per- JB Pharma is worth Rs. 15,965-crore,
According to a report in the Hindu cent stake in JB Pharma for a little over while the drug maker’s market cap is
Businessline, KKR initially started the Rs. 3,100-crore at Rs. 745 a share. Since around $3.6-bn.

Australian fi rm sues Sun Pharma over patent
infringement

Australia’s Mayne Pharma has fi led In the lawsuit fi led at the United aimed at reducing pain during sexual
a lawsuit against Sun Pharma over States District Court for New Jersey, intercourse after menopause. Orange
infringements of patents related to a Mayne Pharma accused its rival of vio- Book-listed patents are those approved
certain product used for menopause- lating all 20 Orange Book-listed patents by the US Food and Drug Administra-
related vaginal pain. linked to Imvexxy – a vaginal insert tion (FDA) and deemed safe to use.

Chemical Weekly August 6, 2024 155

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