Natco Pharma launches generic drug with 180-day exclusivity in US
Natco Pharma has launched Bosentan tablets, a generic version of Tracleer, in the US for treating pulmonary arterial hypertension in young patients. This launch comes with 180-day exclusivity. Lupin Ltd. is Natco's marketing partner for this product. The drug had estimated sales of USD 10 million in the US for the 12 months ended June this year.
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United News of India
16 minutes ago
- United News of India
India-Russia trade has grown five-fold to $68 bn, but major trade imbalance needs addressing: EAM
Moscow/New Delhi, Aug 20 (UNI) External Affairs Minister S Jaishankar today said that while bilateral trade in goods between India and Russia has grown more than five-fold, from USD 13 billion in 2021 to USD 68 billion in 2024-25, the major trade imbalance accompanying the growth needs to be addressed. Speaking at the 26th Session of the India-Russia Inter-Governmental Commission for Trade, Economic, Scientific, Technological, and Cultural Cooperation (IRIGC-TEC), in Moscow, the EAM made some suggestions on how the two sides can improve their efficiency and deepen economic cooperation. The EAM remarked that the two sides are meeting in Moscow after 10 months since the last Session in November 2024 in New Delhi, which he said is perhaps the shortest interval between the two sessions that they have had. 'Over the last four years, our bilateral trade in goods has increased, as you have noted, more than five-fold from USD 13 billion in 2021 to USD 68 billion in 2024-25 and it continues to grow. However, a major trade imbalance has accompanied the growth; it has increased from USD 6.6 billion to USD 58.9 billion which is about nine times. So we need to address that urgently,' he said. Outlining some of the salient features of the agenda, he said. 'Addressing tariff and non-tariff trade barriers, removing bottlenecks in logistics, promoting connectivity through the International North-South Transport Corridor, the Northern Sea Route and the Chennai-Vladivostok Corridor, effecting payment mechanisms smoothly, timely finalization and execution of the Programme of Economic Cooperation till 2030, the early conclusion of the India-Eurasian Economic Union FTA, whose terms of reference were finalised today, and regular interaction between the businesses of the two countries – these are among the key elements.' He said these will not only help to address the imbalance and grow the trade, but also hasten the timely achievement of their revised trade target of USD 100 billion by 2030. EAM Jaishankar said that they are meeting in the backdrop of a complex geopolitical situation, and both their leaders remain closely and regularly engaged, and provide 'wise and practical guidance to our Special and Privileged Strategic Partnership'. Among the suggestions he outlined were, that the various Working Groups and Sub Groups could take a more creative and innovative approach. He said the two sides could focus more on areas like the smoothness of settlements, of better logistics, of diversifying the trade basket, creating more joint ventures, moving on skilling and mobility. He suggested that the two sides should continuously diversify and expand their agenda through mutual consultation. 'This will help us to tap into full potential of our trade and investment ties. We should not get stuck on a beaten track. Doing more and doing differently should be our mantras.' He urged that they should set themselves some quantifiable targets and specific timelines so that they challenge themselves to achieve more. 'Each Working Group and each Sub Group could apply itself to setting of targets and see what we could achieve by the next session of the IRIGC-TEC.' He also suggested that they should have at least two inter-sessional meetings between the IRIGC Sessions, including a virtual midterm review with all the Co-Chairs like they did in 2023. He also suggested having a coordination mechanism between the Business Forum and the different Working Groups of the IRIGC, so that there is a two-way flow between people in the business world and people in the policy world. Addressing the Business Forum later, the EAM said that the two sides have 'concluded the Terms of Reference for the India-Eurasian Economic Union FTA. That will surely make a difference when concluded.' He said in a post on X: 'Co-chaired an extremely productive 26th India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation IRIGC-TEC along with First DPM Denis Manturov of Russia today. 'We had detailed discussions on our cooperation in a wide-ranging arena including trade & economic sector, agriculture, energy, industries, skilling, mobility, education and culture. 'As we meet in the backdrop of a complex geopolitical situation, made the following suggestions to make the IRIGIC-TEC an even more efficient catalyst for deepening our economic cooperation: *Need for a creative and innovative approach. *Continuously diversify and expand our agenda through mutual consultations. *Set quantifiable targets and specific timelines so that we challenge ourselves to achieve more, perhaps even surpass what we set out to do. *Have at least two inter-sessional meetings between the IRIGC Sessions. And a virtual midterm review with all the Co-Chairs. Have a coordination mechanism between the Business Forum and the different Working Groups of the IRIGC-TEC, so that there is a two-way flow. 'As we prepare for the Annual Leaders Summit, confident that the outcomes of the IRIGC-TEC meeting today will further drive the time tested India-Russia partnership." UNI RN
Time of India
an hour ago
- Time of India
Natco Pharma sues Novo Nordisk in generic drug push
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel MUMBAI: Hyderabad-based Natco Pharma has sued Danish drugmaker Novo Nordisk , maker of blockbuster weight-loss drug Wegovy (semaglutide), claiming its version of the drug does not infringe upon the device or process patent technology owned by the multinational company. The case came up for hearing in Delhi High Court on Wednesday."The court has directed the parties to engage in a 'pre-litigation mediation', an attempt to bury the dispute through mutual settlement before the case can be heard on deeper nuances such as non-infringement of patents," a senior lawyer well-versed with the case told ET on condition of lawyers representing Natco Pharma informed the court that over the past few months it had approached Novo Nordisk to communicate on its non-infringing patents but received no response, said people familiar with the matter."A clear communication from the innovator may trigger a generic launch of the drug in India, sinking the prospects for Wegovy's sales and so that may be seen as a delaying tactic," said an expert, who did not wish to be Nordisk launched Wegovy in India in June, trailing its global rival Eli Lilly , which launched its patented brand Mounjaro (tirzepatide) in March. Recently, Mounjaro was launched in the easy-to-use pen device form, an improvement over its earlier versions of injectable Pharma did not comment on the development, while Novo Nordisk did not respond to queries sent by development comes months after Novo Nordisk in May sued Dr Reddy's Labs and OneSource, a contract manufacturing company, in Delhi High Court alleging infringement of its valid patents. The Danish company also claimed that the two companies were importing large quantities of the semaglutide raw material to make and export the the court called upon Novo Nordisk to submit the evidence since there was no substantive proof to back such claims. Earlier that month, Dr Reddy's Labs had filed a lawsuit for revocation of Novo Nordisk's patent for semaglutide in India is set to expire in March next year, potentially opening the floodgates for at least seven companies to launch their versions. This is expected to result in the prices plummeting at least 80% from the present levels of '17,000-26,000 per market for obesity drugs in India is expected to rapidly expand to '8,000 crore by 2030 from '700 crore at present, fuelled by aggressive marketing for such drugs and a faster adoption by doctors and patients.
Economic Times
2 hours ago
- Economic Times
Trump thinks owning piece of Intel would be good deal for US: Here's what to know
AP President Donald Trump wants the US government to own a piece of Intel, less than two weeks after demanding the Silicon Valley pioneer dump the CEO that was hired to turn around the slumping chipmaker. If the goal is realised, the investment would deepen the Trump administration's involvement in the computer industry as the president ramps up the pressure for more US companies to manufacture products domestically instead of relying on overseas suppliers. What's happening? The Trump administration is in talks to secure a 10 per cent stake in Intel in exchange for converting government grants that were pledged to Intel under President Joe Biden. If the deal is completed, the US government would become one of Intel's largest shareholders and blur the traditional lines separating the public sector and private sector in a country that remains the world's largest economy. Why would Trump do this? In his second term, Trump has been leveraging his power to reprogramme the operations of major computer chip companies. The administration is requiring Nvidia and Advanced Micro Devices, two companies whose chips are helping to power the craze around artificial intelligence, to pay a 15 per cent commission on their sales of chips in China in exchange for export licenses. Trump's interest in Intel is also being driven by his desire to boost chip production in the US, which has been a focal point of the trade war that he has been waging throughout the world. By lessening the country's dependence on chips manufactured overseas, the president believes the US will be better positioned to maintain its technological lead on China in the race to create artificial intelligence. Didn't Trump want Intel's CEO to quit? That's what the president said August 7 in an unequivocal post calling for Intel CEO Lip-Bu Tan to resign less than five months after the Santa Clara, California, company hired him. The demand was triggered by reports raising national security concerns about Tan's past investments in Chinese tech companies while he was a venture capitalist. But Trump backed off after Tan professed his allegiance to the US in a public letter to Intel employees and went to the White House to meet with the president, who applauded the Intel CEO for having an "amazing story." Why would Intel do a deal? The company isn't commenting about the possibility of the US government becoming a major shareholder, but Intel may have little choice because it is currently dealing from a position of weakness. After enjoying decades of growth while its processors powered the personal computer boom, the company fell into a slump after missing the shift to the mobile computing era unleashed by the iPhone's 2007 debut. Intel has fallen even farther behind in recent years during an artificial intelligence craze that has been a boon for Nvidia and AMD. The company lost nearly USD 19 billion last year and another $3.7 billion in the first six months of this year, prompting Tan to undertake a cost-cutting spree. By the end of this year, Tan expects Intel to have about 75,000 workers, a 25% reduction from the end of last year. Would this deal be unusual? Although rare, it's not unprecedented for the US government to become a significant shareholder in a prominent company. One of the most notable instances occurred during the Great Recession in 2008 when the government injected nearly $50 billion into General Motors in return for a roughly 60% stake in the automaker at a time it was on the verge of bankruptcy. The government ended up with a roughly $10 billion loss after it sold its stock in GM. Would the government run Intel? US Commerce Secretary Howard Lutnick told CNBC during a Tuesday interview that the government has no intention of meddling in Intel's business, and will have its hands tied by holding non-voting shares in the company. But some analysts wonder if the Trump administration's financial ties to Intel might prod more companies looking to curry favour with the president to increase their orders for the company's chips. What government grants does Intel receive? Intel was among the biggest beneficiaries of the Biden administration's CHIPS and Science Act, but it hasn't been able to revive its fortunes while falling behind on construction projects spawned by the programme. The company has received about $2.2 billion of the $7.8 billion pledged under the incentives programme - money that Lutnick derided as a "giveaway" that would better serve US taxpayers if it's turned into Intel stock. "We think America should get the benefit of the bargain," Lutnick told CNBC. 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