epages News [Health Clubs]

Escorts Heart sale deferred after I-T probe

Sep 25, 2003: New Delhi: Escorts' decision to sell 17.1 % equity in Escorts Heart Institute and Research Centre has been put on the backburner, after vice chairman Anil Nanda opposed the commercialisation of this charitable institution and the Income Tax department conducted a survey on alleged illegal transfer of its assets to a limited company. Escorts chairman and Anil's elder brother Rajan Nanda had proposed to sell 17.1 % of the company's stake in EHIRC to the Singapore-based Standard Chartered Private Equity Fund and last month the fund had nearly completed due diligence of the heart institute.

However, the I-T survey threw a spanner in the works and the stake sale has been deferred, at least for the time being, sources said on Wednesday. Sources said Escorts has put the equity sale on the backburner pending clearance from the I-T department, which is expected to submit its report sometime next month. Neither the Escorts spokesperson nor Rajan Nanda were available for comment.

Indian Immunologicals set to commercialise rabies vaccine

Sep 20, 2003: Hyderabad: Having bagged three patents for the world’s first combination vaccine — containing DNA and low doses of cell culture vaccine — for treating rabies, Indian Immunologicals (a wholly-owned subsidiary of the National Dairy Development Board) is now gearing up to launch the product by the middle of next year. “The combination vaccine is expected to cost less than the existing ones in the market. Indian Immunologicals along with IISc, Bangalore, has conducted various studies to scale up and undertake commercial production of the vaccine,” Dr Amrita Patel, chairman, NDDB, said here on Friday. Rabies, a highly fatal viral disease of the central nervous system, is caused by bites of animals such as dogs and wolves. The human death toll in developing countries, according to industry’s statistics, is about 60,000 cases in Asia (40,000 cases in India alone), 5,000 in Africa and 300 in Latin America.

Indian Immunologicals has also set up a new R&D centre at a cost of Rs 42 crore for launching combination vaccines like DPT, Hepatitis B, Hepatitis A, diphtheria, and measles. The institute also has plans to add 3,000 more clinics by 2005, she said. The president of India would inaugurate the new facility on October 3 this year. “The new facility is line with NDDB’s philosophy of using technological innovation and our constant search for better ways to serve farmers and the people of India. The facility would enable us to consolidate our leadership position in preventive healthcare,” Dr Patel said. The institute would provide all vaccines for the common man under one umbrella of Abhay Clinics, thereby making these clinics one-stop vaccination centres.

CII meet on clinical research from Sept 24

Sep 20, 2003: New Delhi: The Confederation of Indian Industry (CII) is holding a two-day conference here from September 24-25 on “Clinical research-Roadmap for India.” Union Health Minister Sushma Swaraj would inaugurate the conference that would dwell on evolution of clinical trials, global trends, regulatory control, skill base-gap analysis in the Indian context, ethics in clinical research, issues related to transportation of material etc. The speakers would include N K Singh, member, Planning Commission, Ken Getz, president, Centre Watch, Dr RA Mashelkar, Director General, CSIR and Hocine Sidi said, Managing Director, Pfizer Ltd.

Orchid hopes to license out molecule to MNCS

Sep 19, 2003: Hyderabad: Having pumped in $2.5 mn into its joint venture in US, Orchid Chemicals and Pharmaceuticals is hopeful of licensing out its anti-diabetes molecule to the MNCs by early 2004. Orchid Chemicals and its US-based partner Bexel Pharmaceuticals (BPI) have completed the toxicity studies. “The phase 1 clinical trials would be done in Europe by November this year. Depending on the successful outcome of the trails, we may be in a position to license out the molecule to the MNCs by early 2004,” Mr K Raghavendra Rao, Managing Director, Orchid Chemicals and Pharmaceuticals, said here on Tuesday. The molecule BLX 1002, has demonstrated excellent results in toxicological and pharmacological studies.

Based on the results obtained so far, Orchid believes its molecule for diabetes would be well positioned not only for its exceptional efficacy and safety, but more importantly for its anti-weight gain property as well. “We can license out the product to the MNCs even now, but the royalties would be attractive if we were to license the same after reaching phase 2 clinical trails,” Mr Rao said. He further said that the company’s cumulative patent filing count as on date is at 163. The company plans to file 8 DMFs and 4 ANDAs by FY04.

Ranbaxy gets US FDA approval for cephalexin tablets

Sep 16, 2003: Mumbai: Ranbaxy Laboratories, India's largest pharmaceutical company, received approval from the US Food and Drug Administration to market an orally disintegrating tablet form of the cephalexin antibiotic drug on Tuesday. The new dosage form, developed under Ranbaxy's novel drug delivery system programme will be sold under the brand name Panixine DisperDose, it said in a statement. The US FDA approval is for tablets in the 125 mg and 250 mg strengths. The tablets for oral suspension are a generic form of Keflex made by Ceph International.

Ranbaxy's shares were up 4.03 % at Rs 1,010 at the Bombay Stock Exchange in mid-morning trade while the benchmark index was up 0.86 %. Ranbaxy is focusing on selling its pharmaceutical products in the US, where medicines worth $35 billion lose patent protection between 2000 and 2005. The company already sells more than 55 drugs in the US. The company is estimated to have a market size of $1.6 billion in the United States.

US tests confirm Singapore doctor's Sars infection

Sep 15, 2003: Singapore: US laboratory tests have confirmed that a Singapore medical researcher has the potentially fatal Sars disease, a Singapore health ministry official said on Sunday. Singapore said last week the man had tested positive for the flu-like Severe Acute Respiratory Syndrome, the world’s first case in three months. Samples were sent to the US Centers for Disease Control and Prevention in Atlanta, which had confirmed the Singapore tests, the official said. “It is true that the results came back positive,” said health ministry spokeswoman Bey Mui Leng.

Sars is believed to have originated in China late last year. It infected nearly 8,500 people around the world and killed more than 800, most of them in Asia. The World Health Organisation (WHO) declared the outbreak over in July. The 27-year-old scientist, who is believed to have contracted the disease in a laboratory where he worked, has no fever and was recovering well. He was expected to be out of hospital this week, Bey said. Twenty-five people who came into contact with the man are quarantined at home although none has Sars symptoms. The WHO is sending two experts to Singapore to investigate the two laboratories where the victim worked and probably caught the virus. One of the two officials arrived on Saturday, Bey said. Although WHO has said that the Singapore case was not an international health concern, the incident has put Asia on alert for a feared winter revival.

EliLilly India gets nod for DNA drug Forteo

Sep 15, 2003: New Delhi: The Drugs Controller General of India has given permission to EliLilly and Co (India) to import and market Forteo, the Indianapolis (US)-based MNC’s new recombinant DNA drug for osteoporosis. The drug was introduced in the US in November ‘02 and earlier this year in EU markets. The DCGI has accorded the marketing nod for the drug, following an earlier favourable decision of the Genetic Engineering Approval Committee (GEAC), in the ministry of environment, sources said. Forteo, claimed to be the only drug that can stimulate new bone formation, has already peeped into the over $6 billion world market for cures for bone ailments, now dominated by best-seller drugs like Merck’s Fosamax and Lilly’s own Evista among others. This market is projected to grow to $9 billion by 2008. Company sources said that Forteo will be introduced in India by the last quarter of the current financial year. The Indian arm of the MNC would import the finished drug from the multinational’s French facility, they said. “Formalities of obtaining import licence and registration have to be completed prior to marketing.” The drug is to be administered as once-a-day injections for a period of 24 months. Its approved daily dose is 20 micrograms. The cost of therapy is approximately $12-14 per day.

Forteo, first in a new class of drugs called bone formation agents, works by increasing the number and action of bone-forming cells called Osteoblasts. It is a recombinant version of a portion of parathyroid hormone, or PTH, a protein in the human body composed of a chain of 84 amino acids. Osteporosis is a disease affecting mainly ageing women and its incidence is on the rise globally, particularly in the US. In India, as per the estimate of the Osteoporosis Society of India, 35 million women suffer from this progressive skeletal disease in the country. Forteo will treat osteoporosis in post-menopausal women who are at high risk for a fracture, according to sources.

SARS: WHO to review Singapore lab safety

Sep 11, 2003: Manila: The World Health Organisation said on Thursday it is sending two experts to Singapore to help the city state review laboratory safety after a medical researcher tested positive for the deadly SARS virus. The sick man studied the West Nile virus at a National University of Singapore laboratory where samples of the Severe Acute Respiratory Syndrome (SARS) virus were also kept. He is now recovering. The WHO, which has said the scientist's symptoms do not fit its profile of SARS, said the two laboratory safety experts were being sent this weekend at the request of the Singapore government.

Dr Balaji Sadasivan, Singapore's junior health minister, said five laboratories were doing research on SARS, with at least one having a live sample. Work at two of them had been suspended. "All the labs are looking at safety measures, especially after this incident," he told reporters on the sidelines of a WHO regional conference in Manila. "There is an internal review being conducted but we also want an external review. WHO has helped arrange for two experts, one from Japan and one from Australia, who will be coming to Singapore." "The lab where work on the live virus is done is the National Environment Agency laboratory and he visited that laboratory on the 23rd of August," Sadasivan said. "He was there for about 20 minutes." The man's condition has put Asia on alert for a resurgence of SARS, which spread to 30 countries this year after originating in southern China. Nearly 8,500 people were infected around the world and more than 800 died, including 33 in Singapore.

Singapore minister says lab may be SARS source

Sep 10, 2003: Manila: Singapore's junior health minister said on Wednesday a medical researcher who tested positive for the deadly SARS virus was an isolated case and a laboratory was the likely source of the infection. Dr. Balaji Sadasivan, Singapore's minister of state for health, said the laboratory where the researcher was working had been temporarily shut down and the man himself posed no significant health risk to others in the city state. "The laboratory is involved on work with SARS," he told Reuters Television on the sidelines of a WHO regional conference in Manila. "If further testing confirms that he did have exposure to SARS, the most likely source of the SARS virus is maybe the laboratory itself."

The Geneva-based World Health Organisation (WHO) said the case did not fit its definition of the disease under its new guidelines and would not trigger a public health emergency. Singapore is sending samples of the man's tissue to the US Centres for Disease Control and Prevention for further tests. "All the contacts of the researcher are all well, so we don't think there is any significant health loss to anyone at this point," Sadasivan said. "This is probably an isolated case." SARS originated in southern China and was spread to 30 countries by travellers early this year. The virus infected nearly 8,500 people globally. More than 800 died, including 33 in Singapore, where the government imposed strict health controls. Hong Kong and Canada suffered SARS scares in July and August, but both were eventually declared free of the virus.

Green brigade cries foul over Bayer pesticides

Sep 08, 2003: Mumbai: A fresh controversy over the use of pesticides has erupted in the country even as conflicting reports on the toxicity levels in Coke and Pepsi have rattled the government and put consumers in a quandary. Greenpeace, the global environmental NGO, has asked India’s largest agrochemicals producer Bayer India to stop the sale of some pesticides that allegedly pose major health hazards. The global agency has accused the company of double standards as its German parent Bayer AG told shareholders in 1995 that it would phase out Class 1 pesticides, that have highest toxicity, which are now sold in India.

According to Greenpeace, Methyl Parathion (brand Metacid), Oxydemeton-Methyl (Metasystox), Cypermethrin (Cybil and Bilcyp) and Edifenphos (Hinosan 50 EC) are the Class 1 pesticides that Bayer sells in the country. These pesticides are not sold in Germany. Butachlor, Quinalphos, Fenvalerate and Endosulfan are the other deadly pesticides that are sold here. Bayer India, with a turnover of over Rs 800 crore, is the largest pesticide producer in the country — the company sells 52 pesticides — with a 22% marketshare. Bayer India has declined to comment on the Greenpeace campaign. Industry experts said that there are no laws to prevent the sale of such pesticides. Agrochemical companies are selling products after getting due registrations from the government. “The companies may have to wait for five to six years to get a registration from the Central Insecticides Board. What’s wrong in selling products which bear the stamp of approval from a government agency?” said a senior executive from an agrochemical company. “Our campaign is mainly to educate Bayer’s activities in India. We have received support from schools, colleges and hospitals in Bangalore,” said a Greenpeace spokesperson. Simultaneously, the global agency has started an international campaign through its official Website. According to studies by the World Health Organisation (WHO), use of Class 1 pesticides can be a major reason for kidney problems, cancers and skin disorders. Greenpeace has also teamed up with Srishti, a New Delhi-based non-governmental organisation, for fight against the ban of pesticides. Srishti had filed a public interest litigation (PIL) before the Supreme Court in April last year against the use of pesticides that are banned in other countries. The court is yet to give its verdict.

Himalaya Herbal to form JV with Mexican Co.

Aug 23, 2003: Mumbai: The Bangalore-based Himalaya Herbal Healthcare will be entering into a joint venture with a Mexican manufacturing company in the near future. The agreement is for manufacturing Himalaya’s pharmaceutical range of herbal products and could be extended to the company’s other products. “We are close to finalising the deal to provide the technology for the manufacture of herbal medicines in South America and we will also look at co-marketing of the products,” says Ravi Prasad, president and CEO of Himalaya.

The facility will cater to the Mexican and Brazilian markets initially and subsequently to the entire South American market. If the deal goes through, this will be the first unit to manufacture Himalaya’s products in South America and the third such unit outside the country. Himalaya has recently set up similar units to manufacture and market herbal and healthcare products in Egypt and Syria. According to the agreement, Himalaya will provide the know-how and expertise to set up the plant, to commission it and will also supply raw materials for the manufacture of the herbal products. The company, however, is not planning any financial investment in the project. The Rs 300-crore, closely-held herbal healthcare company is looking for partners in other countries also for such on-shore projects. Himalaya currently has a presence in 56 countries. Most of its products are manufactured in the country and exported to its different markets. Himalaya has started working on a new research and manufacturing facility which will begin operations in ’05. “The new facility will comply with international guidelines,” says Mr Prasad.

Escorts Heart under I-T scan

Aug 22, 2003: New Delhi: The Investigation wing of the Income Tax Department of Chandigarh and Delhi on Thursday launched surveys on Escorts Heart Institute and Research Centre to ascertain tax implications of the conversion of assets of this centre from charitable purposes to commercial purposes for the benefit of private persons. The transfer of assets to a private society was done through by a general body resolution on April 1, 2000. "The Investigation wing of the IT department is trying to ascertain whether these assets were used to further the interests of members of the society and if so the tax implications", said sources. The department is now perusing the documents impounded during the course of the survey.

The surveys come after the Escorts Heart Institute has been in the thick of a controversy on its conversion from a charitable status to commercial purposes. The survey was carried out by the department at the Escorts corporate office in Faridabad, its registered office in CP and the Heart Institute. When contacted, an Escorts spokesperson confirmed that survey was being conducted and said it was relating to the heart institute.As reported by ET, there have been differences in the Nanda family on the future of the Escorts Heart Institute. Anil Nanda is opposing the divestment in the institute to a private equity fund, Merlion for Rs 65 crore and says it should revert to the charitable institution status as it was set up by his father, H P Nanda. Rajan Nanda has been expressing his stand that his brother has stepped down from five group companies as part of a settlement and does not hold executive powers in these companies including Escorts Heart. He also believes that due process of law has been followed in the divestment and structure of Escorts Heart.

 
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