Page 149 - CW E-Magazine (25-6-2024)

Pharmaceuticals Pharmaceuticals

CONTRACT MANUFACTURING PRICE FIXING
Suven to acquire controlling stake in Sapala Organics Drug pricing regulator seeks data ahead of setting

for Rs. 230-crore price ceilings for formulations

Suven Pharmaceuticals Ltd., a con- Sapala, which clocked revenues of Mr. Annaswamy Vaidheesh noted The National Pharmaceutical I are non-scheduled formulations. The
tract development & manufacturing Rs. 85-crore in FY23, is focused on that Sapala is a strong strategic fi t. Pricing Authority (NPPA) has asked NPPA revises the ceiling prices of
organisation (CDMO), has announced oligo drugs and nucleic acid building “We see massive potential given it’s a drug manufacturers and marketing scheduled medicines annually on the
the acquisition of 67.5% stake in Hydera- blocks including specialised and modi- niche technology in the rapidly grow- companies for the retail price data of basis of the Wholesale Price Index.
bad-based CDMO, Sapala Organics Pvt. fi ed amidites & nucleosides, drug deli- ing space. Nucleic acid-based therapy 134 generic drugs and four IV fl uids as
Ltd., for a consideration of around very compounds (including GalNAc), targets diseases at a genetic level and of October to set their ceiling prices. The Department of Pharmaceuticals
Rs. 230-crore, subject to customary pseudouridine, amongst others. The has the potential to help patients im- (DoP) notifi ed the NPPA on November
working capital and net debt adjust- oligo & nucleic acid building blocks mensely and cure previously incurable The information on price to retailer 11, 2022, and last year, the authority
ments. market is pegged at around $750-mn and conditions. With this acquisition, we (PTR) and moving annual turnover altered Schedule I, replacing the list
is expected to grow at a CAGR of 20%. now have multiple differentiated tech- (MAT) has been sought in a specifi ed of essential medicines of 2015 with
The Advent International backed nology platforms such as ADCs and format and has to be submitted within NLEM 2022. As of now, the authority
Suven Pharma, which has already According to Suven, Sapala is one oligos amongst others. We will continue 10 days of issuing the order dated has started setting ceiling prices for
signed a defi nitive agreement for the of the very few players globally with to invest both organically and inorgani- June 5, 2024, it said. Index for 2023, as availed by companies. drugs in the new Schedule I.
strategic controlling investment in the experience in a comprehensive range cally to further build on these,” he said. At its meeting in January this year, the
Hyderabad-based CDMO, said it ex- of specialised building blocks and has PTR refers to the price at which a authority noted that, using the July 2022 In November 2022, the NPPA also
pects to complete the acquisition of the a strong customer base including inno- Sapala was set up in 2005 by Dr. P. drug is sold to a retailer, which includes database, it had set ceiling prices for revealed its updated Schedule I-based
remaining equity a few months after vator pharma, CDMOs & diagnostic Yella Reddy, who has extensive experi- duties but not local taxes. MAT meas- 700 formulations under the National pricing revision approach. As part of
fi nancial year 2026-27. Upon consumma- companies, and is a key partner in their ence in nucleic acid chemistry and earlier ures total annual sales, in this case, List of Essential Medicines (NLEM), this process, it determined that July
tion, Suven will own 100% of the share oligo drug NCE programmes. worked as director (R&D) with Aisin from November 2022 to October 2023. 2022, which was issued in November 2022 data and the database of Pharma-
capital of Sapala on a fully diluted Cosmos R&D Co. Ltd. of Toyota Group The four IV fl uid formulations for that year. The ceiling prices of about trac, a market research fi rm, will be
basis, it said. Suven Pharma’s Executive Chairman in Japan and India for over 20 years. which data has been sought are glucose, 225 drugs were left to be determined. considered while setting ceiling prices.
glucose and sodium chloride, sodium The authority said new prices would be
CONSOLIDATION chloride, and ringer lactate. Drug ceil- As per provisions of the Drugs fi xed for about 954 formulations, com-
Kotak Alt helps fund Matrix Pharma’s buyout of ing prices were last set based on data (Prices Control) Order of 2013, formu- prising 388 medicines. While ceiling
of July 2022.
lations are categorised as scheduled prices are to be fi xed for 819 unique
and non-scheduled. Formulations listed formulations, in view of the expansion
Viatris’ API business The NPPA said the October 2023 in Schedule I are scheduled formula- to the revised Schedule 1, the number
database would capture the duly revised tions and include essential medicines. may increase beyond 954 formulations
Matrix Pharma Pvt. Ltd., has ac- Kotak Alt’s capital infusion will Upjohn unit in 2020. The pharma- PTR based on the Wholesale Price Drugs that are not specifi ed in Schedule to about 1,000, the NPPA said.
quired US-based Viatris’ active pharma- enable Matrix to consolidate its leader- ceutical major sold two of its businesses
ceutical ingredients (API) business for ship in the API business by focusing on in India for $1.2-billion in October
Rs. 1,445-crore, a transaction partly third-party sales and will “selectively as part of a global exercise to exit New Ministers preside over review meeting
fi nanced by Kotak Strategic Situations evaluate inorganic opportunities” in the non-core businesses.
Fund II (KSSF II). KSSF II is an Alter- pharma contract development and manu- of Department of Pharmaceuticals
native Investment Fund managed by facturing organization (CDMO) space. It sold the Indian API business to
Kotak Alternate Asset. Managers Ltd., a IQuest Enterprises, a local pharma fi rm Union Minister for Chemicals & including the regulatory framework devices, expansion of Jan Aushadhi
Kotak Mahindra Group fi rm. Mr. Srini Sriniwasan, Managing owned by Matrix Laboratories founder Fertilizers, Mr. J.P. Nadda along with and the schemes implemented by the Scheme and making medicines and
Director of Kotak Alternate Asset. Mana- Nimmagadda Prasad and its women’s Minister of State (Chemicals & Ferti- Department. treatments affordable for the citizens.
The acquisition is expected to make gers, said that the deal underscores healthcare business to Insud Pharma of lizers), Ms. Anupriya Patel presided
the Hyderabad-based Matrix Pharma Kotak Alt’s pharma industry capabilities Spain. Kotak Mahindra Group set up over a review meeting of the Depart- Mr. Nadda emphasised the need to He also directed that quality should
the second largest Indian player in anti- and its ability to create a platform to Kotak Alt in 2005 in order to sharpen ment of Pharmaceuticals on June 15. focus on PM’s vision of Viksit Bharat@ receive a renewed focus and that all
retroviral API space. It will also gain build a robust API business which can focus on its private equity investments The Department presented a detailed 2047 and also reviewed the Five-Year drugs and medical devices manufactur-
access to Viatris’ network of 185 scien- be supported with organic and inorganic it has been involved in since 1997. overview of the Pharma and MediTech Agenda and the 100 days Action Plan. ing plants should be upgraded to world
tists and a repository of more than 600 growth. Viatris Inc. was a result of a It has made capital commitments sector and gave a detailed presenta- The former is to focus on enhancing class standards over the next three
drug master fi les (DMF). merger between Mylan NV and Pfi zer’s amounting to $8.8-bn. tion on the activities of Department, drug security, self-reliance in medical years.

148 Chemical Weekly June 25, 2024 Chemical Weekly June 25, 2024 149

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