Page 136 - CW E-Magazine (6-2-2024)

Top Stories Pharmaceuticals

ENERGY TRANSITION PROJECTS PHARMA FORMULATIONS
OMCs to get half of budget provision for green energy, Krka and Laurus Labs to establish joint venture in Hyderabad

net zero initiatives Slovenia’s generic pharmaceutical of €50-mn, and will focus on the pro- each other. The partners have discussed

fi rm, Krka and Hyderabad-based pharma duction of fi nished products for new opportunities to strengthen co-opera-
The government has halved the “During the Expenditure Finance ceuticals company, Laurus Labs Ltd., markets outside the European Union, tion and create synergies by combining
amount of capital support given to Committee meeting held on November have reached an agreement to establish including the Indian market. their knowledge and resources,” Krka
state-owned oil marketing companies 30, 2023, it was decided that a maximum a joint venture company, Krka Pharma said in a statement. It is expected that
(OMCs). The support was offi cially of Rs. 15,000-crore could be provided Pvt. Ltd. in Hyderabad. Krka will hold “Krka and Laurus have been work- the necessary procedures and documen-
aimed at beefi ng up investments in for equity infusion into OMCs in FY24,” 51% and Laurus 49% share in the JV, ing together contractually for many tation for the registration of the JV will
energy transition projects, but govern- the Finance Ministry said on X, giving which will have a registered capital years and their businesses complement be fi nalised by the end of March 2024.
ment offi cials had indicated that the details about delivery on budget promises.
provision had been made to compen- Corporation Ltd. (HPCL). Also, CDSCO APPROVAL
sate three fuel retailers who had suf- the Finance Minister had proposed “Based on the recommendations of AstraZeneca to import, market Andexanet Alfa in India
fered huge losses in 2022 when they Rs. 5,000-crore for buying crude oil to the EFC, approval of the CCEA (Cabi-
held retail petrol and diesel prices fi ll strategic underground storages net Committee on Economic Affairs) AstraZeneca Pharma India Ltd. has President and Managing Director, unwanted clot formation, they also
despite a spike in crude oil prices at Mangaluru in Karnataka and is being sought,” the Ministry said, announced that it has received approval AstraZeneca India, said. elevate the risk of major bleeding,
following Russia’s invasion of Ukraine. Visakhapatnam in Andhra Pradesh. while adding that the draft note for from Central Drugs Standard Control which can be life-threatening.
approval of the CCEA is under process. Organisation (CDSCO) in India for the FXa inhibitors are employed for Andexanet Alfa is well-tolerated and
The Union Budget for FY24 made The Finance Ministry recently in- Although the social media post did not import and marketing of Andexanet preventing and treating thrombotic facilitates the early restart of anticoagu-
a provision of Rs. 30,000-crore of capi- formed that the equity support has been give any reasons for cutting support, it Alfa. “With this approval, we are work- events, such as deep vein throm- lation following a bleeding event.
tal support to Indian Oil Corporation halved to Rs. 15,000-crore and the plan is believed that the strong performance ing on making this medicine available bosis and pulmonary embolism, as well The therapy is administered through
(IOC), Bharat Petroleum Corporation for fi lling strategic reserves has been of OMCs prompted the government to for patients on FXa inhibitors who have as in patients at high risk of stroke an intravenous (IV) bolus over a
Ltd. (BPCL), and Hindustan Petroleum deferred. slash the equity infusion. life-threatening or uncontrolled bleed- due to atrial fibrillation. While these duration of 15-30 minutes, followed
ing,” Dr. Sanjeev Panchal, Country medications effectively prevent by a 2-hour infusion.
EXPANDING PRESENCE
Technip Energies opens new satellite offi ces BioAsia 2024 announces partnership with Flanders Invest-

in Mumbai and Delhi ment & Trade

BioAsia 2024, the annual fl agship life for the region. Flanders had participated offi cials from the region and participate in
Technip Energies, the French engi- sciences and health tech event of the in BioAsia last year to explore multiple multiple B2B, G2B, and other meetings.
neering and technology company serv- Telangana Government, has named Flanders opportunities in the life sciences sec- Under the partnership, so far multiple
ing the energy industry and chemicals Investment & Trade as its international tor aimed at vaccines and mRNA tech- actions have been taken to promote trade
sector, has expanded its India footprint regional partner. BioAsia is set to be held nological platforms, immunotherapy, tie-ups between both regions. A task
with the opening of two new satellite from February 26-28, 2024 in Hyderabad. lifesciences university partnerships and force with members including industry,
offi ces. The new offi ces are located in Flanders is a vibrant and dynamic re- cluster-to-cluster collaborations. At Bio- academia, and Government from both
Ghansoli in the Mumbai Metropolitan gion of Belgium, and Lifesciences & Asia 2024, Flanders Investment & Trade sides was formed to discuss and imple-
Region and in Gurugram in the Delhi Health sector is one of the focus sectors will bring a key delegation of senior ment the partnership.
National Capital Region.
TRADING TROUBLES
“With nearly 400 people set to work Export of drugs meant only for Indian market under DCGI lens
from these new offi ces, the aim is to
provide the best possible work environ- Alarmed by last year’s controversy port in the Economic Times, the DCGI offi cers, the DCGI said “this practice is
ment for our employees while focusing of export of substandard cough syrups, has asked all port offi ces to ensure that to be stopped immediately”. The report
on their well-being. Both offi ces are the Drug Controller General of India products meant for the “India market quoted unnamed sources as saying that
certifi ed as environmentally friendly, (DCGI) is scrambling to contain a fresh only” are not exported, after receiving the DCGI had received complaints that
which is a significant step towards Technip Energies said its India ope- over 3,900 professionals working at crisis, this time with drugs intended solely complaints about the unauthorised some traders have been resorting to the
promoting sustainability,” the company rations began with a handful of people three main offi ces, project sites, yard in for the domestic market ending up in the export of drugs meant for the local market. practice and in some cases, trademark
said in a social media posting. over 50 years ago, which has grown to Dahej, and the two new satellite offi ces. international market. According to a re- In a letter to all the port offi ces and zonal infringement have also been reported.

136 Chemical Weekly February 6, 2024 Chemical Weekly February 6, 2024 137

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