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Divi's Labs Shares Drop as US Court Allows Generic Entresto Launch
Divi's Laboratories Ltd's shares fell nearly 3% on December 5, trading at Rs 6,078.6, after a US court ruled that Novartis could not block MSN Pharmaceuticals from launching a generic version of its heart drug, Entresto. The court upheld a previous decision that Novartis was unlikely to win a patent lawsuit against MSN, paving the way for the first US generic of the drug. Divi's Labs has a contract with Novartis for the drug, and its market capitalization stands at Rs 1.6 lakh crore.
Global Generic Pharmaceuticals Market Sees Growth in Simple Generics and Biosimilars
India's "Pharmaceuticals Mission" aims to boost generic production, with simple generics leading the market due to cost-effectiveness and ease of manufacturing. Cardiovascular diseases drive demand, while small molecules dominate product types. Retail pharmacies remain the preferred distribution channel, and key players like Cipla and Teva are expanding their offerings.
Janux Therapeutics Shares Soar on Promising Prostate Cancer Drug Results
Janux Therapeutics' shares soared nearly 75% after promising early-stage results for its prostate cancer drug, JANX007, which targets metastatic, castration-resistant prostate cancer. In a small trial, 16 patients showed significant reductions in prostate-specific antigens, with mild side effects reported. Analysts are optimistic about the drug's potential, raising share price targets as Janux prepares for further trials.
The Swiss stock market closed positively on Friday, with the SMI rising 0.46% to 11,762.20 points, buoyed by Wall Street's gains. In the Eurozone, inflation increased to 2.3% in November, while Switzerland's GDP grew by 0.2%. Notable stock movements included ABB (+1.6%) and SIG Group (-1.5%).
Citi names Divi's Labs top pharma pick with 15 percent upside potential
Divi's Laboratories has been named Citi's top pick in the Indian pharma sector, with a price target of Rs 6,850, indicating a potential upside of 15%. The company's shares have surged over 52% year-to-date, bolstered by a favorable US court ruling regarding a generic version of Novartis' heart failure drug, Entresto, which could have impacted Divi's sales. The CDMO contract with Novartis accounts for approximately 8% of Divi's total sales for FY24.
The Swiss stock market closed mostly higher on November 28, 2024, with the SMI rising 0.57% to 11,709.80 points, despite a lack of significant market-moving news. Julius Baer led gains with a 2.1% increase, while technology stocks like Logitech also performed well amid easing US interest rates. Conversely, Swatch Group and Richemont saw declines, reflecting ongoing challenges in the luxury sector.
europe's venture capital landscape drives innovation in sustainability and healthcare
Europe is emerging as a vibrant hub for venture capital, driven by a surge in sustainability and climate technology investments. Regions like 'Swiss Valley' and the 'Silicon Canals' are fostering innovation, particularly in healthcare and biotech, as established companies acquire startups to enhance their portfolios. With a growing focus on ESG criteria, the landscape is ripe for transformative breakthroughs that promise both financial returns and societal impact.
europe's venture capital landscape drives innovation in sustainability and healthcare
Europe is emerging as a vibrant hub for venture capital, driven by a surge in sustainability and climate technology investments. Regions like 'Swiss Valley' and the 'Silicon Canals' are fostering innovation, particularly in healthcare and biotech, as established companies acquire startups to enhance their portfolios. With a growing focus on ESG criteria, the landscape is ripe for transformative breakthroughs that promise both financial returns and societal impact.
europe's venture capital landscape drives innovation in sustainability and healthcare
Europe is emerging as a vibrant hub for venture capital, driven by a surge in sustainability and climate technology investments. Regions like 'Swiss Valley' and the 'Silicon Canals' are fostering innovation, particularly in healthcare and biotech, as established companies acquire startups to enhance their portfolios. With a growing focus on ESG criteria, the landscape is ripe for transformative breakthroughs that promise both financial returns and societal impact.
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