Pharmaceuticals Sector Current Affairs - 2019
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Indian pharmaceutical giant Cipla Ltd. has acquired two US generic drug companies, InvaGen Pharmaceuticals Inc. and Exelan Pharmaceuticals Inc.
In this regard, Cipla has closed the transaction of the deal through its wholly-owned subsidiary, Cipla (EU) Ltd.
- These deals will allow Cipla to further strengthen its presence in the US pharmaceutical market is world’s largest pharmaceutical market.
- It will also help the company to increase its revenue and introduce new products for oncology and diabetes in US.
- These acquisitions will also provide Cipla a launch pad to launch its pipeline of products in respiratory and injectables in US.
The combined revenue for the two US companies at the end of year 2015 was over 230 million dollars. InvaGen has robust manufacturing base and strong R&D capabilities.
This is the second large scale acquisition in Cipla’s 80 year history and the first was South Africa’s Cipla Medpro.
The World Health Organisation (WHO), a UN Health agency has accorded PQP (Pre-qualification of Medicines Programme) certification to Chennai based GreenSignal Bio Pharma.
The Indian pharmaceutical company was accorded this certification for manufacturing a BCG (Bacillus Calmette–Guérin) vaccine. With this, it became second Indian company to get PQP certification from WHO.
What is PQP certification?
- PQP certification helps pharmaceutical companies to participate in the global immunisation programme which is facilitated through international procurement agencies such as UNICEF and others.
- These international institutions prefer WHO list of pre-qualified pharmaceutical products while making a decision on procurement for distribution in resource-limited nations.
GreenSignal Bio Pharma
The company is headed by former Chief Election Commissioner (CEC) N. Gopalaswamy. It has a full-fledged BCG vaccine production facility at Thiruvallur district in Tamil Nadu having production capacity of 60 lakh vials. Presently, it is supplying BCG vaccine to the Government of India and Indonesia.