India, like other countries, has grown dependent on cheap active pharmaceutical ingredients from China. With the COVID-19 outbreak having put pressure on prices and supplies, the country is now doing something to wean itself away from that API habit.
The government is setting up a 100-billion-rupees ($1.3 billion) fund to produce more APIs in the country, Bloomberg reports.
The fund includes money for infrastructure and to provide financial incentives of up to 20% of incremental sales value over the next eight years, Bloomberg reports, citing a government statement.
India is the largest global supplier of generic drugs. The FDA says it provides 40% of U.S. generics. But India buys an estimated 70% of its APIs from China. As worries grew about how the COVID-19 outbreak in China would dent supply chains, India put export restrictions on 26 APIs and drugs.
While the FDA has reported one drug shortage in the U.S. due to the outbreak, so far the global supply chain for APIs and drugs has held up. The FDA is taking steps to help drugmakers boost the supply of hydroxychloroquine sulphate and chloroquine phosphate APIs along with hydroxychloroquine sulphate tablets to the U.S. because there is anecdotal evidence the malaria treatments might have a positive effect against the COVID-19 virus. The agency is allowing India’s Ipca Laboratories to temporarily ship the APIs and drugs from plants it earlier banned because of serious quality failures.
By Eric Palmer
Source: Fierce Pharma
AstraZeneca has halted its planned £200m ($270m) investment in a research facility in Cambridge, UK, according to reports from Reuters. The investment, which was anticipated to generate 1,000 new jobs, is currently on hold. The pharmaceutical company’s decision indicates that none of its newly announced funding, initially revealed in March 2024, is moving forward at this time.
Genmab has dropped an antibody-drug conjugate picked up as part of its $1.8 billion ProfoundBio buyout, citing an inadequate benefit-risk profile. A spokesperson confirmed the discontinuation to Fierce Biotech and said Genmab continues to develop other investigational treatments obtained in last year’s acquisition.
With both companies on an upward trajectory, argenx and its manufacturing partner Fujifilm Biotechnologies are taking a logical next step by expanding their collaboration. In addition to manufacturing drug substance for argenx’s autoimmune blockbuster Vyvgart at its facility in Hillerød, Denmark, Fujifilm will also make the product at its large-scale complex in Holly Springs, N.C.
