➡The Hyderabad Pharma City (HPC), an ambitious project by the Telangana Government is expected to be launched soon. The cluster has been identified as the NIMZ (National Investment and Manufacturing Zone) by the Government of India, Center of Excellence, and is expected to attract investments worth billions of Dollars.
2) Novartis to continue generic drug supply despite increasing energy costs
➡Novartis mentioned that its generic drugs division Sandoz will continue to manufacture and market drugs to all of its European markets and also all over the world as they can manage the energy cost surge with efficiency measures.
3) Sun Pharma's shares regain 4-digit marks after 7 years gap
➡The Shares of Sun Pharmaceuticals Industries Ltd. hit a multi-year high crossing the ₹1,000 mark this year which was earlier observed in March 2015 on the BSE. So far in the year 2022, the company's shares have gained more than 19%.
4) J&J receives US FDA nod for blood cancer therapy
➡The US FDA has approved Jhonson and Jhonson's drug named Teclistamab (brand name Tecvayli) for the treatment of Multiple Myeloma in Adults, giving the patients a second option of treatment for the almost incurable blood cancer.
5) Indonesia may initiate a lawsuit against pharma firms over the rise in children AKI deaths.
➡Indonesian food and drug authority stated on Monday that they will sue the two pharma firms that made the products that were possibly responsible for causing AKI (Acute Kidney Injury) that lead to 141 children (mostly under the age of 5) deaths.