Page 147 - CW E-Magazine (26-11-2024)

Pharmaceuticals Hydrocarbons

MARKET TRENDS POLICY CHANGE
Pharma market sees 6.1% growth in October despite Oilfi eld amendment bill to provide policy stability:

subdued volumes Oil Minister

The Indian pharmaceutical market help boost the cardiac segment. In the A bill to amend the existing law decriminalise some of the provisions being reversed now with allowing for
posted a 6.1% value growth in October anti-infective segment, antibacterials - governing exploration and production of the original 1948 law by intro- exploration to fi nd oil & gas within the
2024, led by therapies including cardiac which have almost 87% share – saw of oil and gas will provide policy stabi- ducing “penalties, adjudication by previously defi ned no-go areas such as
and dermatology, even as sales volume lower volumes. Antifungals, on the lity to investors as also promote ease an adjudicating authority and appeal the one near missile testing sites, he
dipped year-on-year, data from market other hand, have grown in volumes. of doing business, according to Oil as against the order of adjudicating said. The recently concluded bid round
research fi rm Pharmarack showed. Antacids, which contribute to almost Minister, Mr. Hardeep Singh Puri. authority”. saw a record 1.36-lakh square kms of
40% of the gastro segment, have seen area being offered, of which 38 percent
“Majority of the therapies are a fall in sales volume whereas laxa- Speaking at the Geo India 2024 The bill proposes to introduce was previously marked no-go area,
showing a positive growth, though tives, probiotics, anti-infectives and conference in Greater Noida, the ‘petroleum lease’ and expands the he said.
unit growth continues to be a chal- anti-diarrheal have shown volume minister said the government’s reforms defi nition of mineral oils to include
lenge for November,” said Ms. Sheetal growth. agenda to make it easier to fi nd and crude oil, natural gas, petroleum, con- A joint working group, composed
Sapale, Vice President-Ccommercial, Indian pharma market, price drove produce crude oil and natural gas will densate, coal bed methane, oil shale, of representatives of private E&P
Pharmarack. The growth is driven growth in the cardiac segment. The In the anti-diabetes segment, the continue. He promised interference-free shale gas, shale oil, tight gas, tight operators, national oil companies, the
by price and new introductions while anti-hypertensives, which account for oral anti-diabetics combinations have administration. oil & gas hydrate. This is with a view ministry of petroleum and natural gas,
most therapies have seen a drop in almost 50% of the cardiac segment, shown a negative volume growth to raising domestic output and cutting and the Directorate General of Hydro-
volumes, she added. is experiencing stagnated volume while a good amount of growth is seen The Oilfi elds (Regulation and reliance on imports. carbons (DGH), has been formed to
growth. Lipid-lowering drugs and to be coming through new introductions Development) Amendment Bill, 2024 address industry concerns and improve
Amongst the top 10 therapies that platelet aggregation inhibitors have as many products have lost patents, was introduced in the Rajya Sabha in “We have a formidable 651.8-mn ease of doing business in the sector,
contribute to more than 90% of the shown a relatively higher growth to Pharmarack data suggests. August and is likely to be approved in tonnes of recoverable crude oil reserves he said.
the ensuing winter session of Parliament. and 1138.6-billion cubic metres of
MANUFACTURING ISSUES recoverable natural gas reserves nestled “We are setting up a dispute
Dr. Reddy’s, FDC recall products in US stability for oil and gas producers and should be a powerhouse of exploration various contractual matters. 25 disputes
The bill “aims to ensure policy within our sedimentary basin. India resolution mechanism to resolve
allow international arbitration and ex- and production,” Mr. Puri said. He said which were pending for more than 10
Dr. Reddy’s Laboratories and FDC US market. The company is recall- tend lease period” over areas for pro- in the past, eye was taken off the ball years have now been settled amicably,”
Ltd. are recalling generic medications ing the affected lot due to “defective ducing fossil fuels, he said. It aims to on exploration and production. This is he informed.
in the US market due to manufacturing container: unable to get the solution
issues, according to the US health out of the bottle as the spike of the GAS SUPPLIES
regulator. cap was lodged in the nozzle of the
product bottle”, the US health regula- GAIL inks 10-year LNG supply deal with ADNOC Gas
As per the latest Enforcement tor stated. The company initiated the
Report by US Food and Drug Adminis- Class II recall on October 29, 2024. GAIL (India) Ltd. has signed a “India is witnessing a growing of capturing growth in gas demand.
tration (USFDA), the American arm 10-year Sales and Purchase Agreement demand for LNG across diverse sectors. It also solidifi es our position as a pre-
of Dr. Reddy’s is recalling multiple Timolol maleate ophthalmic solu- (SPA) with UAE’s ADNOC Gas for GAIL plans to expand its term LNG ferred energy partner for India,” said
strengths of morphine sulphate tion is used to treat high pressure the delivery of up to 0.52-mtpa of portfolio in the coming years to meet Mr. Rashid Khalfan Al Mazrouei,
extended-release tablets in the US. inside the eye due to glaucoma. liquifi ed natural gas (LNG), starting this demand. This SPA with ADNOC Senior Vice President, ADNOC Gas.
The medication is used to relieve recalling another 532 100-count bottles from 2026. This marks the fi rst Gas is a signifi cant step in that direc- The global demand for LNG is expected
severe and persistent pain. of the medication in 30-mg strength As per the USFDA, a Class II long-term LNG agreement between tion, allowing GAIL to strengthen to rise by 15% over the next decade,
for the same reason, USFDA stated. recall is initiated in a situation in which ADNOC Gas and an Indian buyer. its LNG supply for a wide range of driven by a shift from coal to gas in
As per the USFDA, Dr. Reddy’s The company initiated the ‘Class II’ na- the use of, or exposure to, a violative consumers,” said Mr. Sanjay Kumar, China and increased LNG use in power
Laboratories Inc. is recalling 2,040 tionwide recall on October 22 this year. product may cause temporary or medi- Under the terms of the agreement, Director (Marketing), GAIL. generation across Southern and South-
bottles of 15-mg morphine sulphate cally reversible adverse health conse- ADNOC Gas will supply six cargoes east Asia. ADNOC Gas aims to more
extended-release tablets due to USFDA said Mumbai-based FDC quences or where the probability of per year from its Das Island facility, “This agreement reinforces ADNOC than double its LNG production capacity
“failed impurities/degradation specifi - is recalling 1,55,232 bottles of timo- serious adverse health consequences which has an LNG processing capacity Gas’s role as a global natural gas pro- to tap into this demand for lower-carbon
cation”. The drugmaker is also lol maleate ophthalmic solution in the is remote. of 6-mtpa. vider and aligns with our objective intensity energy solutions.

146 Chemical Weekly November 26, 2024 Chemical Weekly November 26, 2024 147

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