Page 152 - CW E-Magazine (17-10-2023)

Pharmaceuticals Hydrocarbons

INVESTIGATIONAL MEDICINE ENERGY TRANSITION

Sun Pharma fi les new drug application with USFDA ‘Shift from grey hydrogen to green could impact

for alopecia treatment India’s refi ning sector margins’

Sun Pharmaceutical Industries Ltd. Mr. Abhay Gandhi, said. The new drug Shifting to green hydrogen from capacity and about 18 percent based on
said the US health regulator has accep- application filing for deuruxolitinib grey could cost India’s refi ning sector expansions by CY28. It is also expected
ted the new drug application for deuruxo- with the USFDA is based on two pivotal approximately $3 per barrel on gross that the refi ning sector’s hydrogen de-
litinib, an investigational oral drug for Phase III trials, which included over refi ning margin or EBITDA, according to mand would reach about 4.5-mmtpa by
the treatment of adults with moderate 1,200 patients, across more than an analysis by Emkay Global Financial CY30 with hydrogen intake per refi nery
to severe alopecia areata. In the new 135 clinical trial sites, the company Services. likely to grow given further sulphur
drug application, Sun Pharma has sub- said. “Data from these trials were most removal policies and thrust on higher
mitted the 8-mg twice daily regimen of recently presented at the 2023 Ameri- “Based on current prices, replacing value products, said the report.
deuruxolitinib for US Food and Drug the potential to be an important new can Academy of Dermatology Annual grey with green hydrogen can cost the setting renewable energy and electro-
Administration (USFDA) review, the treatment option for people who con- Meeting in March and previously pre- Indian refi ning sector a blended hit of lyser capacities, space availability in India’s hydrogen consumption at
company said in a statement. tinue to struggle every day with the sented at the 31st European Academy about $3/barrel (bbl) on gross refi ning refi neries, and physical demand-supply present is over 6-mmtpa, of which
chronic nature of alopecia areata,” Sun of Dermatology and Venereology Con- margin (GRM) or earnings before inte- mismatch are also restricting forces. about 3-mmtpa is used by oil refi neries
“We believe that deuruxolitinib has Pharma CEO, North America Business, gress,” it added. rest, taxes, depreciation, and amortisa- for desulphurisation of fuels and up-
tion (EBITDA) which, under a mid- “We believe about 2.3-mmtpa grading to higher-value products, over
Pharmexcil looks to revive pharma trade with Iran cycle GRM range of $5/bbl to $8/bbl, of green hydrogen demand can be 2.5-mmtpa is used in ammonia produc-
is sizable,” it said. achieved in the Indian refi ning sector tion for urea and other fertilisers, while
The Pharmaceuticals Export Promo- Director General, Pharmexcil, in an imports of drugs from India. The dip by CY30, if a 50 percent blending man- the remaining quantity is used in the
tion Council (Pharmexcil) has initiated interview with the Hindu BusinessLine in imports from India is now substi- The report added that adoption by date is implemented, as recommended steel and chemicals industry.
discussions with the Iranian authorities newspaper. tuted by those from China and indi- refi neries – which could start FY26 on- in the NITI Aayog report,” said the
and industry on the steps needed to be rect import from the Gulf countries, wards – would be cautious with grey- report. The 3-mmtpa usage is across
taken to revive pharma exports to Iran. From $200-mn in 2019-20, Indian according to industry observers. green blending initially and as green 250-mmtpa of total refi ning volumes in
pharma exports to Iran steadily “Iranian drug market is about $2.8-bn hydrogen cost drops by CY30 to grey Though sectoral mandates for green India. Going ahead, 56-mmtpa of refi -
“There has been a decrease in Indian declined to $59-mn in 2022-23. The and there is good potential for our pharma levels, the same can expand signifi cantly. hydrogen usage have not yet come, pub- nery capacity expansions are underway
pharma exports to Iran. We had dis- decline is said to be driven by issues company to step up exports as they It further said that the adoption of green lic sector refi ners have started imple- till CY28, while total refi ning capacity
cussions with the Iranian Drug Regula- in payments. As India reduced import are in need of Active Pharmaceutical hydrogen by oil refi neries is expected menting their green hydrogen plans and is expected to cross 310-mmtpa. Both
tor and other senior offi cials besides the of oil from Iran, the rupee reserves Ingredients and formulations,” to range from 30 percent blending to as of now, have indicated 0.43-mmtpa refi ning and ammonia, which are cur-
industry,” said Mr. R. Uday Bhaskar, of Iran dwindled and led to a drop in Mr. Bhaskar said. 100 percent by CY30. of green hydrogen volumes by CY30. rently the source of grey hydrogen from
natural gas through the steam methane
Kotak Fund to invest Rs. 1,600-crore in Nimmagadda However, the cost is not the only This implies 22 percent overall reforming process, cause high pollu-
factor and project-related challenges in blending with grey, based on current tion.
Prasad’s API business
Indian oil fi rms targeting net zero ahead of deadline:
Kotak Strategic Situations Fund Mr. Prasad, founder of Matrix Labo-
(KSSF), the alternative assets manage- ratories, had sold his API manufac- Oil Minister
ment fund of the Kotak Group, plans turing business to Mylan (rebranded
to invest about Rs. 1,600-crore in the as Viatris) in 2007. Viatris had put its Indian oil companies are target- “Indian energy sector is on the cusp nomic growth. The country is likely to
active pharmaceutical ingredients (API) non-core India businesses, including ing net zero by 2046 as they decar- of a transition and is rapidly moving account for 25 per cent of global energy
business that Mr. Nimmagadda Prasad- API business and women’s healthcare bonise operations to cut emissions towards the centre of global oil and demand growth over the next two
owned IQuest Enterprises acquired business Famy Care, up for sale last and transition to cleaner fuels, ac- energy market as we are set to become decades, he said. While the oil demand
from Viatris recently, an Economic year. However, the API sale process cording to Oil Minister, Mr. Hardeep a $5-trillion economy,” Mr. Puri said, grows, Indian companies have set
Times report said quoting unnamed has not seen serious buyers, as the Singh Puri. While India has pledged addressing the 26th Energy Technology ambitious net zero emission targets. The
sources. KSSF will back the $450-mn company has large exposure towards net zero carbon emissions by 2070, Meet held in New Delhi. transition, he said, will be a gradual shift
(Rs. 3,800-crore) acquisition through a the report said. Besides Kotak, Deut- the antiretroviral (ARV for HIV/ state-owned companies have set tar- from fossil fuels to cleaner fuels and
$200-mn funding made through a com- sche Bank and DBS are also said to AIDS) sector which sees a very low gets ranging from 2038 (ONGC) to India’s energy demand, he said, will renewables. The minister said high oil
bination of structured debt and equity, have fi nanced the acquisition. volume of sale. 2046 (IOC). continue to provide fuel for future eco- prices accelerate the energy transition.

152 Chemical Weekly October 17, 2023 Chemical Weekly October 17, 2023 153

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