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Centre invites drugmakers to apply for PLI scheme aimed at boosting key medicines production
Centre invites drugmakers to apply for PLI scheme aimed at boosting key medicines production

Hans India

time25-05-2025

  • Business
  • Hans India

Centre invites drugmakers to apply for PLI scheme aimed at boosting key medicines production

New Delhi: The Department of Pharmaceuticals has invited applications from drug manufacturers under the Production Linked Incentive (PLI) scheme to set up new manufacturing units for 11 key pharmaceutical products. This move aims to strengthen India's domestic drug production capabilities. The products include important antibiotics and painkillers such as Neomycin, Gentamycin, Erythromycin, Streptomycin, Tetracycline, Ciprofloxacin, and Diclofenac Sodium. These medicines are either unsubscribed or only partially subscribed under the earlier phases of the scheme. Manufacturers can submit their applications until June 14. The PLI scheme comes with certain conditions. Incentives will be provided based on available capacity, a defined ceiling for each product, and the production timeline. For chemical synthesis products, the incentive period will last until the financial year 2027-28, while for fermentation-based products, it will extend up to 2028-29. However, companies that were previously approved and later withdrew or had their approvals cancelled are not eligible to reapply. The Pharmaceuticals Export Promotion Council of India (Pharmexcil) has encouraged its members to make the most of this opportunity. Pharmexcil Director General Raja Bhanu said the scheme offers a significant chance for companies to boost their manufacturing capacity in essential drug ingredients. This fresh call for applications is part of the government's ongoing push to promote domestic production of critical Key Starting Materials (KSMs), Drug Intermediates (DIs), and Active Pharmaceutical Ingredients (APIs). The PLI scheme for these categories was first introduced in 2020 and later revised to better suit the industry's needs. It covers a total of 41 products and has a financial outlay of Rs 6,940 crore. The initiative is part of a broader effort by the government, which launched PLI schemes for 14 major sectors four years ago. These include bulk drugs, medical devices, electronics, food processing and automobiles. According to official data, till November 2024, about 764 applications had been approved under these schemes, leading to an investment of Rs 1.61 lakh crore (around $18.7 billion). The government has disbursed Rs 14,020 crore in incentives so far under 10 sectors.

PLI scheme for 11 pharma products rolled out
PLI scheme for 11 pharma products rolled out

The Hindu

time24-05-2025

  • Business
  • The Hindu

PLI scheme for 11 pharma products rolled out

The Centre's Department of Pharmaceuticals is inviting applications from drugmakers for a production linked incentive (PLI) scheme to encourage setting up new manufacturing capacities for as many as 11 eligible products. Neomycin, Gentamycin, Erythromycin, Streptomycin, Tetracycline, Ciprofloxacin and Diclofenac Sodium figure in the list. These are either unsubscribed or partially subscribed eligible products, the Department said in a notification earlier this month. June 14 has been set as the last date for the manufacturers to submit the applications. Conditions such as allocation according to available capacities, incentive ceiling in respect of products, and limit of incentive up to the production tenure, which will be up to FY28 for chemical synthesis products and up to FY29 for fermentation-based products, have to be complied with. Companies that were granted approval earlier, but subsequently withdrew or whose approval was cancelled are not eligible to apply, it said. The Pharmaceuticals Export Promotion Council of India has urged its members to take advantage of the decision. The scheme presents a significant opportunity to enhance their manufacturing capabilities in critical pharmaceutical components, Pharmexcil Director General Raja Bhanu said. The Department of Pharmaceuticals' decision is in continuation of India's emphasis on encouraging domestic manufacturing of critical key starting materials, drug intermediates and active pharmaceutical ingredients. Four years ago the government had rolled out PLI schemes for 14 key sectors, which included bulk drugs, medical devices and pharma, with an eye on boosting production, generating jobs and boosting exports by incentivising domestic manufacturing. The scheme for KSMs, DIs and APIs, whose guidelines were issued in July 2020 and revised in October the same year, cover a total of 41 products and has a financial outlay of ₹6,940 crore, as per official documents. In March 2025, the government had announced that 764 applications have been approved under the schemes for the 14 key sectors and investment of around ₹1.61 lakh crore ($18.72 billion) reported till November 2024. Incentive of around ₹14,020 crore have been disbursed under the PLI schemes for 10 sectors, including large-scale electronics manufacturing (LSEM), IT hardware, bulk drugs, medical devices, pharmaceuticals, telecom and networking products, food processing, white goods, automobiles and auto components and drones and drone components.

NORDIC GROUP B.V. THROUGH ITS SUBSIDIARY NORDIC PHARMA, INC. (U.S.), ANNOUNCES LAUNCH OF AUTHORIZED GENERIC OF Maxitrol® (Neomycin and Polymyxin B Sulfates and Dexamethasone Ophthalmic Suspension)
NORDIC GROUP B.V. THROUGH ITS SUBSIDIARY NORDIC PHARMA, INC. (U.S.), ANNOUNCES LAUNCH OF AUTHORIZED GENERIC OF Maxitrol® (Neomycin and Polymyxin B Sulfates and Dexamethasone Ophthalmic Suspension)

Yahoo

time24-04-2025

  • Business
  • Yahoo

NORDIC GROUP B.V. THROUGH ITS SUBSIDIARY NORDIC PHARMA, INC. (U.S.), ANNOUNCES LAUNCH OF AUTHORIZED GENERIC OF Maxitrol® (Neomycin and Polymyxin B Sulfates and Dexamethasone Ophthalmic Suspension)

BERWYN, Pa., April 24, 2025 /PRNewswire/ -- Nordic Pharma, Inc., a subsidiary of Nordic Group B.V., announced a partnership with Harrow (Nasdaq: HROW), a leading North American eyecare company, to launch an authorized generic of Maxitrol® (Neomycin and Polymyxin B Sulfates and Dexamethasone Ophthalmic Suspension), which treats and relieves bacterial eye infections. Maxitrol® and generic equivalents had annual sales of $20.8 million in the U.S., according to IQVIA data, as of January 2025. "Today marks the culmination of months of work to bring this exciting new authorized generic to the marketplace. This product is a great addition to our generic portfolio, providing patients another affordable prescription option," said Thomas Sammler, VP Commercial Operations. For more information about Nordic Pharma, Inc. visit About Nordic Group Group B.V. is a privately owned, medium-size international pharmaceutical company which focuses on the development and commercialization of specialty products. Portfolio enhancement has been accomplished through targeted developments and focused acquisitions to build a foundation in Eye Care, Rheumatology and Women's Health. Nordic Group has established deep roots throughout Europe, and more recently, expanded outside of Europe with increased acquisitions worldwide. Nordic Group is a part of SEVER Life Sciences, a holding company created in 2019 that brings together three diverse but complementary companies that offer a wide range of products, pharmaceutical development services and delivery technologies. About Nordic Pharma, Pharma, Inc., subsidiary of Nordic Group B.V., is partnered with well-established global biopharmaceutical companies and is uniquely positioned to leverage its expertise in bringing biotechnology derived medicines, sterile manufacturing and other state-of-the-art technologies to the marketplace. About HarrowHarrow, Inc. (Nasdaq: HROW) is a leading eyecare pharmaceutical company engaged in the discovery, development, and commercialization of innovative ophthalmic pharmaceutical products for the North American market. Harrow helps eyecare professionals preserve the gift of sight by making its portfolio of pharmaceutical products accessible and affordable to millions of patients each year. For more information about Harrow, please visit Safe HarborThis press release contains forward-looking statements, including, without limitation, statements related to Nordic Group /Nordic Pharma's business developments and the implementation of Nordic Group /Nordic Pharma's strategic initiatives. Because these statements reflect Nordic Group /Nordic Pharma's current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties that could cause actual developments and results to differ materially from Nordic Group /Nordic Pharma's expectations. These factors include, but are not limited to, general market conditions, regulatory trends, changes in the financial conditions of third parties dealing with Nordic Group /Nordic Pharma, and other factors that could affect Nordic Group /Nordic Pharma's business and financial performance. Nordic Group /Nordic Pharma does not assume any obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise. ContactNordic Pharma, PopovaContracts Administration LeadPhone Number: Gail FeerrarDirector Sales and MarketingPhone: View original content to download multimedia: SOURCE Nordic Pharma

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