Zydus Lifesciences announced the launch of Mirabegron Extended-Release Tablets, 25 mg in the US market. The company had earlier received final approval from the United States Food and Drug Administration (USFDA) to market Mirabegron Extended-Release Tablets USP 25 mg and 50 mg (USRLD: Myrbetriq Extended-Release Tablets). Zydus is among the first suppliers to launch the generic version of Mirabegron Extended-Release Tablets, USP 25 mg in the US market and is prepared to launch Mirabegron Extended-Release Tablets, 50mg imminently.
Mirabegron is indicated for the treatment of overactive bladder (OAB) with symptoms of urge urinary incontinence, urgency and urinary frequency. The drug will be manufactured at the group’s formulation manufacturing facility in Ahmedabad SEZ, India.
Source: Business-standard

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The Directorate General of Foreign Trade (DGFT) has officially announced the discontinuation of safeguard measures on the import of isopropyl alcohol (IPA).
The decision, communicated through Trade Notice dated April 18, 2024, marks the culmination of a period during which country-wise quantitative restrictions (QR) were imposed on the import of IPA, as per DGFT Notification No. 64/2015-20 dated March 31, 2023, and Public Notice No. 04/2015-20 dated April 11, 2023. These measures were originally implemented for a one-year period from April 1, 2023, to March 31, 2024.
Following inquiries from various stakeholders, including the trade and industry community, regarding the official termination of these safeguard measures, the government has clarified its stance. According to the notification, country-wise QR measures on the import of IPA under HS code 29051220 have been discontinued effective April 1, 2024.
This move signifies that the import of IPA is now “Free” without any policy conditions, providing a significant boost to businesses involved in the import and distribution of isopropyl alcohol. IPA is a key ingredient in various industries, including pharmaceuticals, cosmetics, and sanitization products, and the removal of restrictions is expected to streamline trade operations and support industry growth.
The decision to lift safeguard measures on IPA imports reflects the government’s commitment to promoting a conducive environment for trade and commerce while ensuring the availability of essential raw materials for various sectors. It also underscores India’s commitment to aligning its trade policies with global standards and fostering a competitive business environment.
For any further queries or clarifications, stakeholders have been urged to reach out to the DGFT.
This announcement is anticipated to have a positive impact on the import and manufacturing landscape in India, facilitating smoother trade operations and contributing to economic growth and development in the country. The lifting of safeguard measures on IPA imports signifies a progressive step towards enhancing trade facilitation and promoting a conducive business environment in India.
Source: Pharmabiz

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Dr. Reddy’s Laboratories has introduced a condition-management programme for Irritable Bowel Syndrome (IBS).
DailyBloom IBS is based on research and enabled by a mobile application developed in-house. It focuses on a comprehensive care plan, including diet management, psychological and physical wellness support for patients, the drugmaker said.
IBS is a functional gastrointestinal disorder characterised by abdominal pain, bloating and altered bowel habits. Studies show IBS leads to significant morbidity, work absenteeism, loss of productivity, economic burden to the society and impacts the quality of life of patients, Dr. Reddy’s said.
A chronic condition, it can be managed more effectively by using an integrated care approach involving education, lifestyle changes, personalised nutrition and wellness, along with standard of care medical management. DailyBloom IBS is a 14-week care plan that comes with a personalised approach to ensure that each patient’s experience is tailored to their specific needs, the company said about the programme that will be made available at a cost.
“Our initiative is India’s first integrated care plan for IBS. We have drawn on our three-decade old market leadership in the gastrointestinal (GI) segment consisting of trusted and established oral drug brands such as Omez, Razo, Econorm, and Redotil, said M.V. Ramana, CEO-Branded Markets (India and Emerging Markets).
Dr. Reddy’s said the IBS programme was built with a team of multi-disciplinary experts, patients and gastroenterologists through research over a period of 12 months. The entry into condition management with DailyBloom IBS is its latest offering in digital therapeutics and follows the launch of Nerivio, a drug-free non-invasive migraine management wearable device in India, Germany and South Africa.
Source: Thehindu

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Godfrey Phillips, backed by the KK Modi group, is in discussions with Tata Trent, Reliance Retail, and Avenue Supermarts for a potential sale of its retail grocery chain, 24Seven, The Economic Times (ET) reported.
The outcome of the talks will depend on the valuation, the business daily said, citing sources.
The leadership of the (Modi) group had started discussions with entities that showed clear synergies and these are said to be currently ongoing, at different stages.
In an exchange filing on April 12, Godfrey Phillips India had disclosed its plan to divest of the loss-making 24Seven convenience chain after a thorough review of its retail business division.
Established in 2005, 24Seven has 145 stores operating across the Delhi-National Capital Region (NCR), Punjab, and Hyderabad. These provide a range of grocery items, staples, snacks, beverages, products of the Modi group’s Colorbar beauty brand, and personal care products. They has sell ready-to-eat food items in some larger format outlets.
Given the growth potential in the grocery retail sector, the 24Seven model could be expanded to encompass hyper-convenience grocery, staples, general merchandise, and even small in-store cafes, despite the company’s current accumulated losses, the ET report said, citing another official.
Trent Ltd, the retail arm of the Tata group, manages the grocery chain Star Bazaar, but grocery constitutes only a small fraction of the conglomerate’s overall retail business. Acquiring 24Seven might, according to the report, offer only marginal benefits. Trent’s other retail chains, Westside and Zudio, have experienced more rapid growth and expansion than Star Bazaar.
Reliance Retail Ventures, as the master franchise partner of the Texas-based 7-Eleven chain since 2021, operates nearly 50 stores under this brand. The 24Seven acquisition, should be happen, would entail Reliance merging its current convenience store chain with it, considering the similarity in their formats, the report added.
Avenue Supermarts, the operator of DMart stores, which primarily focuses on grocery sales but also offers general merchandise and apparel, is actively seeking to expand its grocery segment. For the quarter ended March, the chain reported a 7 per cent increase in revenue per store and a 13 per cent year-on-year rise in store additions, marking 20 per cent growth over the same period last year.
For 2022-23, the retail business division of Godfrey Phillips reported Rs 396 crore in revenue from operations, which was 9.3 per cent of the tobacco maker’s total revenue. However, due to accumulated losses, the retail business division reported a negative net worth as on March 31, 2023.
“…decided to exit from carrying out the business operations of its retail business division… A decision in this regard was taken following a detailed review of the company’s retail business division and after due consideration of the stakeholders’ feedback, long-term performance, prevailing market conditions of the retail sector and long-term business strategy of the company,” Godfrey Phillips had announced last week while announcing its decision.
Source: Business-standard

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HyFun Foods announced the appointment of Soundararadjane S as Chief Executive Officer for their initiative HyFarm. Soundararadjane brings a wealth of experience of over 30 years in agriculture and a proven track record of success with global leaders like Monsanto and ITC (Technico).
His strategic vision coupled with a passion for sustainable agriculture, aligns perfectly with HyFun Foods’ commitment to delivering superior-quality fresh produce while minimising environmental impact.
Haresh Karamchandani, MD & Group CEO at HyFun Foods, said, “Our appointment of Soundararadjane S as CEO of HyFarm underscores our commitment to driving positive change in the fresh produce industry. His deep understanding of the industry coupled with his strategic foresight will positively contribute to driving HyFarm’s mission to create a sustainable and efficient ecosystem for fresh produce.
Source: Nuffoodsspectrum

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Chandra Shekhar Azad University of Agriculture and Technology, Kanpur (CSAUAT), and Nuziveedu Seeds Limited (NSL) have formalized a Memorandum of Understanding (MOU) to embark on a collaborative journey towards the joint development of plant varieties and hybrids. The agreement was signed on 23rd April 2024 by representatives of both organizations at CSAUAT’s headquarters in Kanpur, Uttar Pradesh.
CSAUAT, a renowned research and educational institution established by an act of the state legislature, has been at the forefront of agricultural research, development, and extension activities since its inception in 1958. NSL, a leading seed company in India, brings to the table its expertise in developing superior plant varieties, seed production, processing, marketing, and distribution.
The collaboration between CSAUAT and NSL aims to enhance the profitability of farmers by introducing new varieties and hybrids tailored to the specific agro-climatic conditions of Uttar Pradesh and similar regions across the country. Both parties are committed to leveraging their strengths in research and development to deliver innovative solutions for sustainable agriculture.
This collaboration marks a significant milestone in the journey towards sustainable agriculture and underscores the commitment of CSAUAT and NSL to empower farmers with innovative solutions for enhanced productivity and profitability.
Source: Nuziveeduseeds

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We at Sakata Seed India Private Limited are thrilled to inform that Sakata seed India has been awarded the prestigious title of “Vegetable Seed Company of the Year 2024.” at ABSA- Agri Award 2024 in presence of Sri. Thummala Nageswara Rao, Hon Agriculture Minister of Telangana, Dr P K Singh, Commissioner of Agri Agriculture, Govt of India. This recognition is a testament to our unwavering commitment to innovation, quality, and sustainability in the agricultural industry.
SAKATA SEEDS INDIA has demonstrated exceptional leadership in developing high-yielding, disease-resistant vegetable varieties that meet the evolving needs of farmers worldwide. Their dedication to research and development has resulted in groundbreaking advancements that enhance crop productivity while minimizing environmental impact.
Through collaborative partnerships and community outreach programs, SAKATA SEEDS INDIA has empowered farmers with the knowledge and resources needed to achieve sustainable agricultural practices. The efforts have not only contributed to the success of individual growers but also to the resilience of global food systems.

This award is a well-deserved recognition of SAKATA SEED’s outstanding contributions under dynamic and emphatic leadership of Dr Jai Singh to the vegetable seed industry and their commitment to shaping a more sustainable future for agriculture. Congratulations to all the team members of Sakata seeds on this achievement and looking forward to witnessing your continued impact in the years to come.
Ultimately this achievement is the testimony of collaborative efforts of One Passionate Team Sakata Seed India.
Source: kishor.gaikwad@sakata.in

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Pharma major Cipla Ltd will acquire the cosmetics and personal care distribution and marketing business of Ivia Beaute Pvt Ltd, including the latter’s brands Astaberry, Ikin and Bhimsaini, on a worldwide basis for Rs 130 crore, according to a regulatory filing by the company. Cipla Health Ltd (CHL), a wholly owned subsidiary and consumer healthcare arm, has signed a Business Transfer Agreement (BTA) for purchase of the distribution and marketing business undertaking of the cosmetics and personal care business of Ivia Beaute Pvt Ltd, Cipla said.
This strategic move is aligned with Cipla’s focus on enhancing its consumer healthcare and wellness portfolio, it added.
The acquisition will include Ivia Beaute’s brands namely Astaberry, Ikin and Bhimsaini on a worldwide basis, the company said.
On the cost of acquisition, Cipla said it will be “Rs 130 crore on the closing date and Rs 110 crore contingent upon achievement of certain financial parameters (milestones) for next 3 years as mentioned in the BTA”.
“The transaction is expected to be completed within 60 days from the signing of BTA or such other date mutually agreed between the parties in writing and shall be subject to successful completion/waiver of the conditions precedent and closing conditions as mentioned in such BTA,” it added.
Commenting on the acquisition, CHL CEO and Whole Time Director Shivam Puri said, “This move not only solidifies our presence in the expansive and dynamic beauty and personal care sector but also builds on our well-established footprint in Tier 2-6 cities.”
He further said, “Integrating Astaberry, Ikin and Bhimsaini into our portfolio seamlessly complements our existing offerings across key OTC/consumer healthcare categories, empowering us to deliver comprehensive solutions that cater effectively to the diverse everyday needs of our consumers.”
With a brand legacy of over 16 years, Astaberry caters to consumers through a wide range of unique products to help them address their skincare needs, the company said.
Source: Indiatimes

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Laurus Labs, once a leading manufacturer of antiretroviral (ARV) drugs, is undergoing yet another transformation under Satyanarayana Chava, its Founder & CEO. Until 2011, ARVs—a group of medication used to manage and treat human immunodeficiency virus (HIV) infection—accounted for a substantial portion of the company’s revenue. Then it made a strategic shift towards becoming an active pharmaceutical ingredient (API)-focussed company.
Subsequently, the company forayed into the formulations business in 2014, which helped it become an integrated pharma company by 2020. As a result of that shift, the ARV API contributes only 25% of revenues now, while the contract development and manufacturing organisation (CDMO) segment has seen significant growth.
The success of these shifts is evident in the numbers. Over the past five years, Laurus Labs, which was founded in 2005, has seen a significant growth in revenues, rising from Rs 2,292 crore in FY19 to Rs 6,041 crore in FY23, an increase of 164% over the period. However, there has been a slight dip in revenues in the first nine months of FY24, settling at Rs 3,601 crore.
Further, Laurus Labs’s biotechnology business represents a strategic diversification into a high-growth sector with significant potential for development. The biotech business is relatively new, launched in 2021 through the acquisition of Richcore Life Sciences, a pioneer in microbial fermentation technology.
By leveraging its expertise in fermentation technology and focussing on sustainable and innovative products, Laurus Bio (what Richcore is called after acquisition) aims to capture a significant share of the growing biomanufacturing market—which is valued at $216.7 billion in 2023, according to business consulting firm Grand View Research, and is projected to grow to $420.7 billion by 2030, with a CAGR of 9.5%. Rising demand for sustainable solutions, bio-based products, and advances in biotechnology are driving this growth. India, which is emerging as a significant player in this space, also has a thriving biomanufacturing market estimated at $58 billion in 2023, per the national investment promotion agency Invest India, and is anticipated to double every two to three years, and could reach $300 billion by 2030.
“Our investment in [the] bio [space] in 2021 helped Laurus offer a combination of biology and chemistry for sustainable products. Laurus’s recent investment in ImmunoACT, launching the country’s first indigenously developed CAR-T [cell therapy] for cancer treatment, is another area of interest. These investments were augmented by licensing patents from IIT Kanpur on certain rare disease molecules,” says Chava.
Chava, winner in the pharma & healthcare category of the BT-PwC India’s Best CEOs ranking this year, is now targeting investments in emerging areas such as precision fermentation, viral vector manufacturing, and cell and gene therapy, with the CDMO segment expected to lead near-term growth. Chava, who has a master’s degree and a PhD in chemistry from Andhra University, an Executive MBA from the Indian School of Business, and a postgraduate diploma in quality management from the World Quality Council, brings over three decades of pharmaceutical experience.
Pharmaceutical analysts are upbeat about the company as the CDMO segment’s project pipeline is expanding, and the animal health unit is expected to contribute gradually from Q4FY24. The biotech segment is witnessing momentum, with plans for capacity expansion.
Gross profitability has improved, with potential margin improvements as sales volumes increase, analysts say. Significant investments in capex have been made, with expectations for future demand. Commercialisation of CAR-T therapy has commenced, with profitability expected in Q4FY24. “Laurus Labs would incur a cumulative capex of Rs 2,800 crore over FY22-24, across CDMO, non-ARV formulation, and non-ARV API segments. Further, it is undergoing a validation phase for products in the animal health segment, and capex for the crop science segment. It is [also] building a product pipeline in the non-ARV formulation segment,” says Tushar Manudhane, Research Analyst at brokerage firm Motilal Oswal Financial Services.
But there has been a dip in revenue and profits in FY24. Speaking about this, he says, the anticipated increase in sales from CDMO and non-ARV segments has been delayed. The company experienced adverse effects on its performance, especially in the third quarter of FY24, adds Manudhane.
A report from research firm K.R. Choksey Research indicated that despite underperforming on profitability in Q3FY24, Laurus Labs could see improvement in its margins. “Regulatory compliance remains robust, with significant investments in R&D and capacity expansion in high-growth segments like CDMO and bio,” said the research firm’s report.
With the pieces falling into place, it’s no wonder that the analysts are upbeat about Laurus Labs.
Source: Businesstoday

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