The growth trajectory for the Indian pharmaceutical industry is likely to remain at 10-13 per cent in 2020- 21 despite challenges, according to rating agency ICRA. According to ICRA, The expected growth in the next financial year is on the back of healthy demand from the domestic market given increasing spend on healthcare along with improving access. This along with abatement in pricing pressure for the US market, new launches and market share gains for existing products and consolidation benefits will drive growth in 2020-21, it added.

Glenmark Pharma has sold its gynaecology business to private equity firm True North backed Integrace Pharma in an attempt to cut down debt of the company. The sale of the gynac business comes two years after it sold its orthopedic business to the same company. Integrace will pay Rs 115 crore for four products of the portfolio that includes products like Dubagest, Mumfer and Fenza. These three products currently have sales of Rs 60 crore and are growing by 15%.

Eli Lilly has revealed a new global licensing and research collaboration with Sitryx, in order to study up to four novel preclinical targets identified by. The collaboration is set to grant Lilly an exclusive, worldwide license to develop and commercialise up to four novel immunometabolism targeted therapeutics, including Sitryx's two lead projects, leading to a a five-year research collaboration to support the development of the therapeutics. The companies have confirmed that under the terms of the agreement, Sitryx will receive an upfront payment of $50 million, and Lilly will make a $10 million equity investment in Sitryx. Also, the latter will be eligible to receive potential development milestones up to $820 million, as well as commercialisation milestones and royalty payments on potential sales in the mid- to high-single digit range.

Unichem is recalling 1.91 crore units of Clonidine Hydrochloride tablets from the US market because of failed impurities/degradation specifications. This recall is initiated as a precautionary measure due to potential migration of Benzophenone at very low level into product from container label, the United States Food and Drug Administration(USFDA) said and Macleods is recalling 4,694 bottles of Pioglitazone and Metformin Hydrochloride tablets used for treating high BP because of subpotent drug: out of specification assay result, below specification, for two lots of Pioglitazone And Metformin Hydrochloride tablets, the USFDAsaid.

Dr Reddy's Laboratories on Wednesday announced an agreement with Wockhardt Ltd. to acquire select divisions of its branded generics business in India, Nepal, Sri Lanka, Bhutan and Maldives for a consideration of Rs 1,850 crore. The agreement comprises a portfolio of 62 brands in multiple therapy areas such as respiratory, neurology, VMS, dermatology, gastroenterology, pain and vaccines. Wockhardt will transfer Dr Reddy's related sales and marketing teams; and the manufacturing plant located in Baddi, Himachal Pradesh with all plant employees. The business undertaking is being transferred on a slump sale basis, according to the company.