India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
Mumbai: Dr Reddy's Laboratories has entered into a collaboration with Reykjavik, Ireland-based biotech company Alvotech to co-develop, manufacture and commercialise a biosimilar version of blockbuster cancer drug Keytruda for the global markets. Keytruda (generic name is pembrolizumab), manufactured and marketed by Merck & Co, is the most successful medicine, recording worldwide sales of $29.5 billion in 2024. It is used to treat multiple forms of cancer. Under the terms of the agreement, both companies will be jointly responsible for developing and manufacturing the biosimilar candidate and sharing costs and responsibilities, Hyderabad-based DRL said in a statement on Thursday. Subject to certain exceptions, each party will have the right to commercialise the product globally. Unlike traditional generics, which often face automatic patent infringement claims, biosimilars are developed more like original drugs, complete with clinical trials and patent disclosures, giving them a better chance of overcoming legal challenges. Also, Merck's core patents on pembrolizumab in the US are expected to start expiring around 2028. "This (collaboration) demonstrates our ability to develop and manufacture high quality and affordable treatment options for patients worldwide," Erez Israeli, chief executive of DRL, said. Róbert Wessman, chairman and CEO of Alvotech, said, "The agreement enables us to increase the availability of cost-effective, critical biologic medications to patients worldwide." Keytruda is approved in the US to treat 40 cancers, unlike most medicines that treat a few indications or medical conditions. In India, it is approved for use in 17 indications across 10 cancers or tumour types. Oncologists mostly prescribe it to treat certain types of lung cancers, followed by gastrointestinal cancer, triple-negative breast cancer and head and neck cancers. Keytruda helps the body's immune system, which is the T-cells, to detect and fight cancer cells that hide and spread in organs. "Oncology has been a top focus therapy area for us, and this collaboration will enhance our capabilities in oncology, as pembrolizumab currently represents one of the most critical therapies in immuno-oncology," Israeli said. Keytruda has been out of reach for most patients in India due to its exorbitant cost - roughly about Rs 2 lakhs for each dose. However, with Merck's patent set to expire in a few years and with Indian drug manufacturers looking to come up with more affordable versions of the drug it may play a crucial role in widening adoption across a larger cohort of patients.
India's pharmaceutical industry, valued at $50 billion, is booming as a global leader in generic drugs. With significant exports to 200+ countries, India meets a substantial portion of global demand for affordable medicine. Challenges include regulatory hurdles and quality assurance, as the nation aims to expand its generic drug market. The Indian pharmaceutical industry, currently valued at $50 billion, is playing an increasingly crucial role on the global stage. Renowned as the 'pharmacy of the world,' India's pharma sector is a major exporter, supplying essential generic drugs to over 200 ...Read More >
New Delhi [India], June 8 (ANI): In a major crackdown, the Anti-Narcotics Task Force (ANTF) of the Delhi Police has busted an interstate drug syndicate and seized 348.176 kilograms of Ganja, officials said. According to Apoorva Gupta, Deputy Commissioner of Police, ANTF, Crime Branch, Delhi, the seized contraband is valued at approximately Rs 1.75 crore in the international market. The drug was being smuggled from Andhra Pradesh to the Delhi-NCR region, concealed beneath a consignment of watermelons in a truck. Two individuals, identified as Intezar Malik and Rizwan, have been arrested in c ...Read More >
New Delhi [India], June 26 (ANI): In a milestone for cancer care in India, President Droupadi Murmu, formally inaugurated the Sri Ganga Ram Hospital (SGRH) Cancer Care Centre and interacted with cancer patients on Thursday. According to an official release, the Sri Ganga Ram Hospital is a cutting-edge facility dedicated to providing comprehensive care to cancer patients. The President ceremonially visited the premises, acknowledging the hospital's pivotal role in delivering ethical and affordable healthcare, marking a presence of pride and recognition for the institution's seven-decade-long ...Read More >
NEW DELHI: The Nifty Pharma index closed on a positive note on Monday. Shares of Natco Pharma Ltd.(up 4.78 per cent), Ipca Laboratories Ltd.(up 4.37 per cent), Laurus Labs Ltd.(up 3.29 per cent), Gland Pharma Ltd.(up 2.94 per cent) and Glenmark Pharmaceuticals Ltd.(up 2.49 per cent) ended the day as top gainers in the pack. On the other hand, J B Chemicals & Pharmaceuticals Ltd.(down 6.78 per cent), Dr. Reddy's Laboratories Ltd.(down 1.37 per cent), Sun Pharmaceutical Industries Ltd.(down 0.71 per cent), Mankind Pharma Ltd.(down 0.59 per cent) and Granules India Ltd.(down 0.39 per cent) fini ...Read More >
VISAKHAPATNAM: Energy Minister Gottipati Ravi Kumar inaugurated Andhra Pradesh's first Super ECBC (Energy Conservation Building Code) compliant building at Sagar Nagar in Visakhapatnam on Friday. Terming it a landmark in sustainable infrastructure, he emphasised the government's commitment to energy efficiency and green design in public facilities. The facility will serve as a national-level training hub for power sector staff. He urged power utilities to expedite 20 lakh rooftop solar connections, targeting 10,000 in each Assembly segment. He reaffirmed nine-hour uninterrupted power for agri ...Read More >
Chennai, June 29 (UNI) The four member Ax-4 crew were fully immersed in their mission aboard the International Space Station (ISS), Axiom Space said today. On the fourth day updates, it said Axiom Mission 4 (Ax-4) Commander Peggy Whitson, Indian Pilot Shubhanshu Shukla "Shux," Mission Specialist Sławosz "Suave" Uznański-Wiśniewski, and Mission Specialist Tibor Kapu are now fully immersed in their mission aboard the ISS wrapping up their day on orbit with a schedule full of scientific research and international outreach." The Ax-4 crew has transitioned smoothly from arrival protocols to ha ...Read More >
New Delhi, Jul 1 (PTI) Shares of pharmaceuticals firm Sigachi Industries Ltd fell nearly 6 per cent on Tuesday, extending their previous day's decline, after an explosion at its manufacturing facility in Telangana killed several people. The stock plunged 5.57 per cent to settle at Rs 46.07 on the BSE. During the day, it dropped 8.36 per cent to Rs 44.71. Also Read | Who Is PVN Madhav? Here's Everything You Need To Know About the Newly Appointed Andhra Pradesh BJP President. At the NSE, it fell by 5.76 per cent to end at Rs 45.95. Shares of Sigachi Industries Ltd had tanked over 11.50 per c ...Read More >
Cancer NEXT 2024, co-hosted by Bharath Advanced Therapeutics and the Federation of Asian Biotech Associations, is set for 30th November 2024 in Hyderabad. The conference will highlight cutting-edge oncology advancements, featuring breakthrough therapies in AML and CML, sentinel research presentations, and awards celebrating impactful contributions to cancer research. Cancer NEXT 2024, a significant oncology research conference, will take place on 30th November 2024 at Nizam's Institute of Medical Sciences, Hyderabad. Organized by Bharath Advanced Therapeutics (BAT) and the Federation of Asian ...Read More >
NewsVoir Pune (Maharashtra) [India], December 6: Bajaj Finserv AMC has launched its latest offering, the Bajaj Finserv Healthcare Fund, which is available for subscription from 6th to 20th December 2024. This new fund is designed to capture the immense opportunities emerging in India's healthcare space, allowing investors to tap into the evolving megatrends while building wealth over the long term. The health and wealth connection As India's population grows and ages, the demand for healthcare services, products, and innovation is expected to soar. In fact, the healthcare sector is set to b ...Read More >
Bhubaneswar: The Odisha Cabinet on Friday decided to implement two new schemes for the development of biotechnology and to enhance urban infrastructure. The Cabinet also gave its nod to a proposal to float a tender for Chheligada multipurpose medium irrigation project in Gajapati district. These proposals were approved at the Cabinet meeting chaired by Chief Minister Mohan Charan Majhi. "The two new schemes, named 'Development of Biotechnology' and 'Mukhya Mantri Sahari Bikash Yojana (MSBY)', aimed at creating employment and strengthening the State's economy," Chief Secretary Manoj Ahuja told ...Read More >
New Delhi [India], June 8 (ANI): In a major crackdown, the Anti-Narcotics Task Force (ANTF) of the Delhi Police has busted an interstate drug syndicate and seized 348.176 kilograms of Ganja, officials said. According to Apoorva Gupta, Deputy Commissioner of Police, ANTF, Crime Branch, Delhi, the seized contraband is valued at approximately Rs 1.75 crore in the international market. The drug was being smuggled from Andhra Pradesh to the Delhi-NCR region, concealed beneath a consignment of watermelons in a truck. Two individuals, identified as Intezar Malik and Rizwan, have been arrested in c ...Read More >
THIRUVANANTHAPURAM: The Kerala Cancer Conclave 2025, organised by the Association of Medical and Pediatric Oncologists of Kerala (AMPOK), concluded in Thiruvananthapuram on Sunday. The two-day event brought together over 200 experts from India and abroad for a series of high-impact discussions on pressing issues in oncology. The conclave featured eight key sessions addressing the growing cancer burden in the state, with a focus on emerging trends, future strategies, and barriers to optimal care. Topics included the role and misuse of media in cancer control, challenges in access and afforda ...Read More >
Vijayawada: Chief Minister N Chandrababu Naidu on Monday unveiled his ambitious vision to transform Amaravati into a global capital for quantum technologies. Addressing the Amaravati Quantum Valley Workshop here, Naidu said: "Quantum computing is the need of the hour. By January 1, 2026, the quantum computing centre will be operational in Amaravati. This marks the beginning of the Quantum Valley." The workshop, jointly organised by the AP government, the Department of Science and Technology (Government of India), TCS and L&T, brought together some of the top minds and institutions in quantum ...Read More >
Ahmedabad: More than half of the total Covid-positive cases in Gujarat -- over 700 identified so far -- were recorded in the 25 to 50 years age group, or the 'working age group', state health department officials have said. About 10% of the cases were among infants under one year of age, according to govt data. Officials also said that the number of senior citizens in recent cases is relatively very low. Health experts pointed out that three patients who died of Covid -- all from Ahmedabad -- were women aged 18, 20 and 47 years. "No definite pattern is emerging yet, as cases are under control ...Read More >
NEW DELHI: Former head of Air India and chairman of the Railway Board Ashwani Lohani is the new Prime Ministers Museum and Library (PMML) director. The official order for his appointment was issued on Wednesday. A 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), Lohani is known for turning around various organisations during his illustrious career. Following his retirement from IRSME service, he joined the GMR Group as the CEO. According to the order dated June 4, his appointment to the post of director, Prime Ministers Museum and Library in the rank and pa ...Read More >
Seoul: South Korea's exports of bio-health products jumped 22.5 per cent in the third quarter from a year earlier, data showed on Friday, driven by growing demand for pharmaceutical goods in European nations. According to the Korea Health Industry Development Institute, outbound shipments of bio-health products, including pharmaceutical goods and cosmetics, amounted to $6.34 billion in the July-September period, compared with $5.17 billion recorded over the same period in 2023, Yonhap news agency. By sector, exports of pharmaceutical products jumped 43.5 per cent on-year to $2.38 billion, le ...Read More >
Bengaluru, Dec 3 (PTI) The Karnataka government on Tuesday requested the Drugs Controller General of India (DCGI) to investigate and take necessary action against a West Bengal-based manufacturer, amid concerns that recent maternal deaths in Ballari district, could be linked to substandard Ringer Lactate solution supplied by the company. In a letter, Karnataka Health Principal Secretary Harsh Gupta, drew the attention of the DCGI to the supply of several batches of "Compound Sodium Lactate I P (Ringer's Lactate I P)" by the West Bengal-based pharmaceutical company Paschim Banga Pharmaceutical ...Read More >
New Delhi, Dec 18 (PTI) Reliance Nippon Life Insurance, a subsidiary of debt-ridden Reliance Capital (RCAP), has initiated talks with IndusInd Bank for bancassurance partnership as the IIHL and RCAP deal has reached the final lap. Mauritius-based IndusInd International Holdings Ltd (IIHL), the parent entity of IndusInd Bank, won the bid to acquire RCAP and entities under it. Also Read | Cancer Vaccine Ready for Use, Announces Russia; What Is the Cost? How Effective Is It? When Will It Be Available?. "IIHL and Japan-based Nippon Life have struck a good understanding and they are absolutely c ...Read More >
Bhubaneswar: The state cabinet, under the chairmanship of chief minister Mohan Charan Majhi, on Friday approved a comprehensive five-year biotechnology development scheme with an outlay of Rs 1,113.50 crore. The programme will be implemented from 2025-26 to 2029-30.The 'Development of Biotechnology' initiative, comprising 17 sub-schemes, aims to transform Odisha into a knowledge-driven bio-economy by leveraging the state's rich biodiversity and existing research infrastructure."This scheme will create a robust ecosystem for innovation, incubation and investment in the biotechnology sector," a ...Read More >
Silchar: Assam chief minister Himanta Biswa Sarma on Friday visited the flood-ravaged districts of Hailakandi and Sribhumi in the Barak Valley. He assured affected residents of providing timely disbursement of rehabilitation grants and swift repair of damaged infrastructure.This marks Sarma's second visit to the flood-hit region within four days, underscoring the gravity of the situation. Speaking to the media in Sribhumi after inspecting multiple relief camps, the CM said, "Flood-related problems may persist till July. I will return before Durga Puja to ensure that roads and infrastructure ar ...Read More >
Thiruvananthapuram: Speaker A N Shamseer will inaugurate a two-day Kerala Cancer Conclave 2025, aimed at exploring new challenges and possibilities in cancer treatment, on Saturday in the state capital.Dr Suresh H Advani, widely regarded as the father of cancer treatment in India, will be the chief guest on the occasion. Organised under the leadership of the Association of Medical and Pediatric Oncologists of Kerala, the conclave will see participation from over 200 cancer treatment experts from within and outside the country.The event will feature discussions across seven key sessions on crit ...Read More >
Gurgaon: Two days after a law student died and his friend suffered critical injuries when a car knocked them down as they stood near railing on the service lane of Delhi-Jaipur highway in the early hours of Tuesday, a civil engineer was arrested on Thursday.Mohit (31), an employee of a private company in the city, told police that he got drowsy while driving. He is staying at a PG facility in Sector 14.The student who died, Harsh Singhal (25), was a resident of Om Nagar colony. His friend Abhishek Kumar (23), who is from Shanti Nagar in Sector 11, is undergoing treatment at a private hospital ...Read More >
New Delhi, June 28 (SocialNews.XYZ) A team of Israeli and US researchers have developed a simple blood test that can detect a person's risk of developing leukaemia -- a deadly blood cancer. In the study, published in the journal Nature Medicine, the researchers suggested that this test may replace the current more invasive method of bone marrow sampling used to diagnose certain blood cancers, Xinhua news agency reported. The team led by researchers from Weizmann Institute of Science in Israel focused on myelodysplastic syndrome (MDS) -- an age-related condition in which blood-forming stem ce ...Read More >
Biocon Biologics, in collaboration with Diabetes Africa and St Paul’s Hospital in Ethiopia, has launched the Embedding Specialist Nurses in Diabetes Care project. The initiative focuses on training nurses to become diabetes specialists to address the country’s growing diabetes crisis. With Ethiopia ranking among the top countries in sub-Saharan Africa for diabetes prevalence, this project aims to integrate diabetes care into primary healthcare, enhancing accessibility and care quality. By upskilling nurses and establishing a structured pathway for them, the program seeks to improve diabetes ma ...Read More >
Hyderabad: Databricks, the Data and AI company, announced its Series J funding. The company is raising $10 billion of expected non-dilutive financing and has completed $8.6 billion to date. This funding values Databricks at $62 billion and is led by Thrive Capital. Along with Thrive, the round is co-led by Andreessen Horowitz, DST Global, GIC, Insight Partners and WCM Investment Management. Other significant participants include existing investor Ontario Teachers' Pension Plan and new investors ICONIQ Growth, MGX, Sands Capital and Wellington Management. The company has seen increased momentu ...Read More >
Mumbai, June 6 (SocialNews.XYZ) India will soon have its first professional basketball league, marking a transformative moment for the country's sports sector and fulfilling the long-term dream of the Basketball Federation of India (BFI). The innovative professional basketball league, which will have structured competitive leagues in 5x5 and 3x3 formats for both men and women, was launched in Mumbai on Friday and will be run by BFI and ACG Sports Private Limited. The groundbreaking initiative will result in establishing a comprehensive professional ecosystem that opens the door for athletes ...Read More >
New Delhi [India], June 8 (ANI): BJP MP Gulam Ali Khatana, who was part of the all-party parliamentary delegation to Europe, said that during their recently conclued visit they successfully communicated India's development story and its resolute stand against terrorism, particularly emanating from Pakistan. Highlighting the delegation's key discussions during the tour, Khatana told ANI, 'We discussed how we dismantled the terrorism factory in Pakistan by responding... We also talked about tourism infrastructure, G20 Summit, and projects like the six-lane roads, bridges, solar initiatives, our ...Read More >
THIRUVANANTHAPURAM: The National Centre for Disease Informatics and Research (NCDIR) projects that by 2030, every year cancer will affect 45,813 women and 43,930 men in Kerala. This forecast, shared at the Kerala Cancer Conclave organised by the Association of Medical and Pediatric Oncologists of Kerala (AMPOK), reflects growing concerns among medical experts regarding the increasing cancer burden in the state. In 2024, 43,110 men and 45,008 women were diagnosed with cancer, making the projected rise seem relatively modest. However, Dr. Prashant Mathur, Director of ICMR-NCDIR, which oversees ...Read More >
Patna (Bihar) [India], July 1 (ANI): Former Rajasthan Chief Minister and senior Congress leader Ashok Gehlot on Monday said that if the INDIA bloc comes to power in Bihar after the upcoming assembly elections, it will implement Rajasthan's health model in the state. Speaking at a press conference in Patna, Gehlot said, 'The health model we have created in Rajasthan cannot be compared to any other in the entire country. We have also enacted the 'Right to Health' law in Rajasthan, under which every family has been provided with insurance coverage. The Government of India's Ayushman Bharat schem ...Read More >
Srinagar, Jul 3 (PTI) The annual Amarnath Yatra began on Thursday with the first batches of pilgrims setting off from the twin base camps in Baltal and Nunwan towards the 3880-metre-high cave shrine in the south Kashmir Himalayas, which houses a naturally formed ice-lingam, officials said. The yatra started early morning from the twin tracks -- the traditional 48-km Nunwan-Pahalgam route and the 14-km Baltal route. The batches of pilgrims, including men, women and sadhus, left from the Nunwan base camp in Pahalgam, in south Kashmir's Anantnag, and Baltal base camp in Sonamarg area of central ...Read More >