Mankind Pharma said it has plans to invest Rs 305 crore in its new venture
Pathkind Diagnostics in the next four years. Mankind Pharma is a USD
800 million pharmaceutical firm. “We are foraying into diagnostics space
with new venture Pathkind
Diagnostics. In the coming four
years, the company has a plan
to invest Rs 305 crore in its
new venture, which will start its
operation from August 2017,” a
company statement said.
“As a part of the strategy,
Pathkind would aim to reach out to the masses in tier 2/3 cities in India
with the direct approach of providing easily accessible diagnostics services at
affordable prices,” it said.
According to the company, the decision to launch Pathkind is to focus
on organic growth. The company is planning to open 12 large labs, 20 rapid
response labs and 150 collection centres in 12 months and will operate on a
three-tier model, said the statement. With a reference lab in Gurgaon, it will
also have multiple collection centres in small towns and villages, which will
be connected through the network of labs. Initially, the company will start its
operations from Uttar Pradesh and move to Uttarakhand.
“Venturing into diagnostics is also a financially prudent decision as
diagnostics model is asset light, with low gestation period and a lucrative Return
On Investment,” Pathkind Managing Director CEO Sanjeev Vashishta said.Drug firm Wockhardt said the
US health regulator has agreed
to abridged clinical trials for an
antibiotic being developed by
the company.
“In a recent meeting
between Wockhardt Research
team and USFDA New Drug
Antibiotic Regulatory team,
USFDA agreed to abridged
clinical trial for phase III
for Wockhardt’s superdrug
antibiotic WCK 5222,” the
company said in a filing
to BSE. The decision was
based on the evaluation by
United States Food and Drug
Administration (USFDA) of its
preclinical and clinical data of
phase I establishing safety and
clinical scope of efficacy for the
drug, it added.
WCK 5222 is a combination
of Zidebactam and Cefepime,
Wockhardt said, adding that
it is expected to be a life-
saving therapy for serious
hospital acquired infections
such as pneumonia, ventilator
associated pneumonia and
blood stream infections.
The company expects global
clinical launch of WCK 5222
during the year 2020-2021,
Wockhardt said.Wockhardt gets
green signal
for abridged
clinical trial for
antibiotic
Aurobindo Pharma said it has
received final approval from the
US health regulator to manufacture
abacavir sulfate and lamivudine
tablets, used in the treatment of
HIV. “The company has received
final approval from the US Food
and Drug Administration (USFDA)
to manufacture abacavir sulfate
and lamivudine tablets, 600 mg/
300 mg,” Aurobindo Pharma said
in a BSE filing.
The company said the product
is being launched immediately.
The approved product is AB
rated generic equivalent of VIIV
Healthcare Company’s Epzicom
tablet. It has an estimated market
size of US $388 million for the 12
months ended December 2016,Aurobindo Pharma said, citing
market research reports. This is
the 108th Abbreviated New Drug
Application (ANDA), including 20
tentative approvals, approved out
of Unit VII formulation facility in
Hyderabad, used for manufacturing
oral products. Aurobindo now has
a total of 314 ANDA approvals
(276 final approvals, including 16
from Aurolife Pharma LLC and 38
tentative approvals) from USFDA.Aurobindo Pharma gets
USFDA nod for HIV drug
Mankind Pharma mulls
to invest Rs 305 crore
in Pathkind Diagnostics
(^12) COMPANY NEWS l BioSpectrum | May 2017 | http://www.biospectrumindia.com