Company News

Max Healthcare Institute Ltd (MHC), India’s second largest private hospital chain operator by revenue in Fiscal 2020 announced the successful completion of its Qualified Institutions Placement (QIP). MHC raised INR 1,200 Cr (approx. USD 165 Mn) through its QIP, which saw participation from highly reputable global and domestic investors. MHC has accordingly issued 6,14,12,482 fresh equity shares of face value of INR 10 per equity share at a price of INR 195.40 per equity share.

The US District Court for the Northern District of West Virginia has decided in favour of AstraZeneca in litigation against Mylan Pharmaceuticals Inc. (Mylan) and Kindeva Drug Delivery L.P. (Kindeva), determining that asserted claims in three of AstraZeneca’s patents protecting Symbicort (budesonide/formoterol) in the US are not invalid.

Olympus made its initial investment in Medi-Tate in November 2018, under an agreement that included the rights to distribute Medi-Tate products and gave Olympus an option to acquire 100% of the Israeli company at a later date. Medi-Tate is a medical device manufacturer engaged in the research and development, production, and sale of devices for the minimally invasive treatment of benign prostatic hyperplasia (“BPH”). The company’s flagship product “iTind” has received a European CE mark and is FDA cleared for use in the U.S.

AstraZeneca announced the voluntary withdrawal of the Imfinzi (durvalumab) indication in the US for previously treated adult patients with locally advanced or metastatic bladder cancer. This decision was made in consultation with the Food and Drug Administration (FDA).

Sun Pharmaceutical settled for a case pertaining to alleged violation of listing obligation and disclosure requirements norms with regulator Securities and Exchange Board of India (SEBI). The aggregate settlement charges were paid around Rs 2.9 crores.

The show cause notices issued by SEBI on May 19, 2020 to Sun Pharmaceutical Industries Limited, and the Whole-time Directors and certain officers at the relevant time.

The U.S. Food and Drug Administration (FDA) has approved the PD-1 inhibitor Libtayo® (cemiplimab-rwlc) as the first immunotherapy indicated for patients with advanced basal cell carcinoma (BCC) previously treated with a hedgehog pathway inhibitor (HHI) or for whom an HHI is not appropriate. Full approval was granted for patients with locally advanced BCC and accelerated approval was granted for patients with metastatic BCC.

ViiV Healthcare, the global specialist HIV company majority owned by GlaxoSmithKline plc with Pfizer Inc.

The Janssen Pharmaceutical Companies of Johnson & Johnson announced that the European Commission (EC) has authorised the expanded use of SPRAVATO® (esketamine nasal spray), co-administered with oral antidepressant therapy in adults with a moderate to severe episode of MDD, as acute short term treatment, for the rapid reduction of depressive symptoms, which according to clinical judgement constitute a psychiatric emergency.

Takeda Pharmaceutical Company Limited announced that it has submitted an application to the Japanese Ministry of Health, Labour and Welfare to manufacture and market darvadstrocel (development code: Cx601) for the treatment of complex perianal fistulas in adult patients with non-active/mildly active luminal Crohn’s disease (CD).