Panacea Biotec has reported lower quarterly loss at Rs 28 crore compared to the same period last year. The company has managed to reduce its losses and increase its sales revenue to Rs 125 crore compared to Rs 99 crore for the same period last year.

The company also informed that it has received United States Food and Drug Administration (USFDA) approval for Oncology Parenteral Formulations.

Talking about the results, Panacea Biotec MD Rajesh Jain said, "The company's remediation measures have now started paying off. The company has registered impressive financial performance during the quarter ended June 30, 2019 with 28 per cent topline growth and earning positive earnings before interest, taxes, depreciation and amortization (EBITDA) of Rs 26.9 crore."

Geneva - Swiss drugmaker Novartis said Wednesday that 80 to 83 per cent of patients in a year-long clinical trial of its new drug for the treatment of multiple sclerosis had remained relapse-free. The company said the results were in line with its previous studies on the FTY720 oral compound. The data show the relapse rate at one year was
52 per cent lower for those in the trial of the new drug compared with patients using existing medications on the market.

Glenmark Pharmaceuticals announced that it has received tentative approval from the U.S. Food and Drug Administration (FDA) to sell the generic version of Schering Plough and MSP Singapore Company LLC’s hypercholesterolemia treatment Zetia (ezetimibe) in the United States.

Glenmark, which has got sanction for 10-milligram tablets of the drug, is likely to get 180 days marketing exclusivity for the drug upon patent expiry.

Zetia recorded sales of $1.5 billion during the last year (2008), the drug maker said in a statement.

Cadila Healthcare Ltd, on Tuesday announced an increase of 11.62% in its net profit at Rs 58 crore for the second quarter ended March 31, 2009, compared to Rs 51.96 crore in the year-ago period.

Further, total income of the company for the quarter also rose 29.25% to Rs 727.73 crore, compared to Rs 563 crore for prior year period.

For the full-year ended March, Cadila Healthcare’s net profit surged 17.65% to Rs 303.08 crore, as compared to Rs 257.59 crore for the year ended March 31, 2008.

Washington - Pfizer Inc, the worlds biggest drugmaker, Tuesday said profits were down 2 per cent and revenues were down 8.3 per cent compared to first quarter 2008 despite blockbuster drugs like the impotence pill Viagra and cholesterol-busting Lipitor. Net income dropped to 2.73 billion dollars, while revenues were down to 10.9 billion dollars, the company said.

Profits were eroded by the rising dollar, which lowered income from abroad, the company said.

Biocon Ltd, a fully integrated healthcare company that delivers innovative biopharmaceutical solutions, has registered 61% decline its net profit to Rs 24.14 crore for the fourth quarter ended March 31, 2009, against Rs 62.03 crore reported during the same quarter ended March 31, 2008.

In addition, company's total income for the quarter has also increased to Rs 239.84 crore from Rs 236.71 crore during the same quarter in 2007-08.

For the financial year ended March 2009, the company posted a net profit after tax of Rs 111.81 crore, down 74 per cent against Rs 434.94 crore in FY'08.