Bayer has acquired the remaining 25% stake in Bayer Zydus Pharma Pvt Ltd, a pharmaceutical company, to secure full ownership. This acquisition will strengthen Bayer’s presence in the healthcare sector.
Dr. Reddy’s Laboratories and Pharmazz Inc. have announced a collaboration to bring the life-saving drug Centhaquine, now known as Lyfaquin, to India. This partnership aims to address the critical condition of hypovolemic shock, a life-threatening medical emergency caused by severe blood or fluid loss. By making this drug available in India, Dr. Reddy’s and Pharmazz Inc. aim to improve patient outcomes and save lives.
Markets managed to reclaim record highs after a long and volatile week. SMS Pharma’s API manufacturing facility in Andhra Pradesh undergoes inspection by the European Directorate for the Quality of Medicines & Healthcare. Patel Engineering secures a contract valued at Rs 525.36 crore. HG Infra receives a project worth Rs 447 crore from South Central Railway. Tata Sons commits to upholding the legacy of its founder Jamsetji Tata. Vedanta plans to deleverage $3 billion debt over the next three years. SJVN Green Energy bags a 200 MW solar project. RIL and Walt Disney Company deal could create a media giant. NMDC reports a 13% jump in iron ore production.
ICICI Securities has issued a hold call on Sanofi India, a Mid Cap pharmaceutical company, with a target price of Rs 9170. Sanofi India reported a Consolidated Total Income of Rs 705.90 Crore for the quarter ended 31-12-2023.
Mutual fund managers are increasingly being choosy while picking stocks in the mid-cap and small-cap space amid concerns over rich valuations. In January, they selectively bought pharmaceuticals, while shuffling their holdings in the banking and financial services industry (BFSI) space after shares of private lenders fell on worries about their profitability.
Abu Dhabi Investment Authority (ADIA) and HarbourVest are exploring the possibility of acquiring a minority stake in Cohance Lifesciences, a Hyderabad-based pharmaceutical platform owned by Advent International. The investment is expected to be around $350-400 million, valuing Cohance Lifesciences at approximately $1.5 billion. ADIA already has a presence in India’s pharmaceutical sector, owning a stake in Intas Pharmaceuticals.
The Indian government has announced that investments worth Rs. 25,813 crore have been made and 56,171 new jobs have been added under the production-linked incentive (PLI) scheme for pharmaceuticals. The scheme aims to enhance India’s manufacturing capabilities in the pharmaceutical sector and promote the production of high-value goods. Additionally, the Pradhan Mantri Bhartiya Janaushadhi Pariyojana has successfully achieved its target of opening 10,000 retail outlets to provide affordable generic medicines to the poor and underprivileged.
India’s pharmaceutical industry can achieve a market size of USD 130 billion by 2030, as stated by industry experts. Factors such as the increasing demand for healthcare services, rising exports, and favorable government policies contribute to this potential growth. The industry also has opportunities to expand its presence in emerging markets and invest in research and development. Read more to understand the key drivers of this projected growth and the challenges the industry may face.
Indian equity indices hit a lifetime high but later succumbed to profit booking. Despite this, the winning streak continued for the 10th consecutive day with Sensex closing above 67,500 and Nifty settling above 20,100. Sugar stocks soared as sugar output in Maharashtra is expected to fall. Suven Pharmaceuticals received approval for a foreign direct investment proposal. NBCC signed MoUs and received orders worth Rs 180 crore. Yatra Online and Signature Global are preparing for upcoming IPOs.
CIO-IME-branded strategies, Ashi Anand, shares insights on the value of domestic pharmaceutical franchises and the infrastructure space. Anand also discusses the potential of market infrastructure-related stocks and the financialisation trend in India.
