pharma

Caplin Steriles Obtains USFDA Approval for Ofloxacin Otic Solution

Published

7 months ago

January 8, 2024

Caplin Steriles Limited, a subsidiary of Caplin Point Laboratories Limited, has received final approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Ofloxacin Otic Solution 0.3%. This generic therapeutic equivalent is akin to FLOXIN Otic Solution from Daiichi Pharmaceuticals Inc.

Ofloxacin Otic Solution 0.3% serves as an antibacterial anti-infective specifically for ear use. According to IQVIATM (IMS Health), it garnered approximately $36 million in US sales for the 12-month period concluding in June 2023.

About Caplin Steriles Limited

Caplin Steriles Limited, a subsidiary of Caplin Point Laboratories Limited, stands as a niche sterile product manufacturer holding approvals from esteemed regulatory agencies such as US FDA, EU-GMP, and ANVISA. The company boasts 25 approvals out of 37 ANDAs filed in the USA, working diligently on a portfolio of 40+ simple and complex Injectable and Ophthalmic products set for filing within the next 4 years.

About Caplin Steriles Point Laboratories Limited

Caplin Point Laboratories Limited operates as a swiftly growing pharmaceutical company with a unique business model primarily targeting emerging markets in Latin America and Africa. Known for consistent high-quality growth in cashflows, profitability, and revenues over the past 15 years, it maintains state-of-the-art manufacturing facilities catering to a complete range of finished dosage forms.

Caplin Point has received recognition on Forbes’ “Asia’s 200 Best Under a Billion” list six times in the last 10 years. Additionally, it was honored with “The Emerging Company of 2018” and the “Business Excellence Award for 2019” by Economic Times.

Cautionary Statement from caplin

This press release contains forward-looking statements that are subject to known and unknown risks and uncertainties. Caplin Point holds no obligation to update any information provided herein due to possible future inaccuracies or omissions.

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pharma

Biocon recognised by S&P for second year in a row, share trades down by 3%

Published

5 months ago

February 20, 2024

Ansh Pratap

Bengaluru, Karnataka, India – February 20, 2024 – Biocon Limited, a well known name in the global biopharmaceuticals arena, proudly announces its continued recognition in the domain of sustainability. For the second year in a row, Biocon, including its subsidiary Biocon Biologics Limited, has been included in the prestigious S&P Sustainability Yearbook 2024. This acknowledgment comes on the heels of an impressive S&P Global Corporate Sustainability Assessment (CSA) for 2023. Finally let’s explore more on the company fundamentals and stock price movement in this blog.

A Leap in ESG Score

Biocon’s leap in Environmental, Social, and Governance (ESG) score from 52 to 63 is not just a number. It represents Biocon’s commitment to integrating sustainability into its core business strategy. Moreover, ranking among the Top 10 global biotechnology companies from a pool of 300, Biocon is demonstrating how sustainable practices and business success go hand in hand.

Unconditional Equity: The Biocon Philosophy

Under the visionary leadership of Kiran Mazumdar Shaw, Chairperson of Biocon Biologics, the company has been a frontrunner in implementing sustainable business practices. Biocon’s comprehensive ESG strategy, termed “Unconditional Equity,” focuses on Patient Equity, People Equity, Environmental Equity and Stakeholder Equity besides Social Equity. This holistic approach ensures that Biocon’s impact extends beyond its immediate stakeholders, contributing positively to society and the environment at large.

Recognition in the Dow Jones Sustainability Emerging Markets Index

Biocon’s sustainability efforts have earned it a spot in the Dow Jones Sustainability Emerging Markets Index for the third consecutive year. This distinction places this company among the top 10% of the 800 largest emerging market companies leading in sustainability. It’s noteworthy that company stands as one of only two pharma biotech companies from India included in this index, highlighting its leadership in the sustainability domain.

Sustainability Scores that Speak Volumes

Biocon’s remarkable scores across the Environmental (69), Social (62), and Governance & Economic (62) dimensions significantly surpass the industry means, showcasing its leadership in sustainability. These scores reflect Biocon’s unwavering dedication to creating a positive impact on the planet and its people.

About Biocon Limited

Biocon Limited is an innovation-led global biopharmaceuticals company committed to enhancing affordable access to complex therapies for chronic conditions like diabetes, cancer, and autoimmune diseases. Since its public listing in 2004, Biocon has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs, alongside generic formulations in key global markets.

Why stock price for Biocon is down?

When the market loses interest in a company, it takes a long time for the company to come back. Biocon stock was at 465 on 01 Jan 2021 Three years later – it is at 274 The stock is down 41%, and it’s not a bad company. Primarily, we feel this is because of almost flat results for almost 4 years now. For the stock price to jump out of the falling downtrend, Biocon needs to show better numbers on the balance sheet. Should you invest in Biocon now? We suggest to wait until the consolidating revenues and net profits shows some growth.

The Road Ahead

The inclusion in S&P’s Sustainability Yearbook 2024 and the Dow Jones Sustainability Emerging Markets Index is a testament to Biocon’s successful integration of sustainability into its operations. As Biocon continues to develop lifesaving medicines, its commitment to sustainability ensures that it remains a global leader in the biopharmaceutical industry, setting benchmarks for others to follow. Moreover, we are confident that Biocon will continue this good work in the field of sustainability and win many more acknowledgements.

Stay tuned for more updates as Biocon leads the way in transforming healthcare and transforming lives through sustainable practices. As we said earlier, this news shall not be taken as a base for a new investment in the company. you can engage with us in the comments section below and share your thoughts on Biocon’s sustainable journey!

For more information about Biocon and its commitment to sustainability, visit www.biocon.com. Also, don’t forget to subscribe to Tradealone.