Telangana Chief Minister Revanth Reddy met U.S. Ambassador to India Sergio Gor in New Delhi to discuss ways to strengthen cooperation between Telangana and the United States.

During the meeting, Revanth Reddy urged the U.S. side to increase visa interview slots and speed up visa processing. He also raised concerns related to H-1B visa renewals, visa stamping procedures, and the challenges faced by professionals from Telangana working in the United States.

The Chief Minister highlighted Telangana's investment potential in sectors such as information technology, artificial intelligence, life sciences, pharmaceuticals, startups, and advanced technologies, inviting greater American investment in the state. With more than one lakh students from Telangana studying in the United States, visa policies remain a key issue for many families in the state.

Telangana CM Revanth Reddy Meets US Ambassador, Seeks Faster H-1B Visa Processing

A newly announced trade deal between the European Union (EU) and the United States could add substantial costs to the pharmaceutical sector, with estimates suggesting an additional $13 billion to $19 billion in expenses for drugmakers. The deal, which includes a 15 per cent tariff on most EU goods, does not yet provide clarity on how it will affect pharmaceuticals. Although medicines were excluded from the deal on July 27, they remain subject to the outcome of a US national security investigation, which could potentially impose tariffs of up to 15 per cent.<h2>Tariff uncertainty clouds the future for pharmaceuticals</h2>Pharmaceuticals are the EU’s largest export to the US by value, accounting for about 60 per cent of all EU pharmaceutical imports. Historically, these products have been exempt from tariffs, but the new trade agreement could change that. The investigation into the pharmaceutical sector, initiated by the Trump administration, has created uncertainty for the industry. US President Donald Trump recently hinted that tariffs could rise as high as 200 per cent on pharmaceuticals. However, some analysts do not expect additional tariffs beyond the 15 per cent already proposed, while others caution that the situation is still fluid.Despite the official announcement of the new EU-US deal on July 27, the pharmaceutical sector was not included in the blanket tariff, as the US could not commit to any decisions regarding tariffs until the national security review is completed. While the EU has expressed confidence that any new tariffs will be capped at 15 per cent, the lack of clarity has left pharmaceutical companies facing potential financial strain.<h2>Impact on EU drugmakers and US consumers</h2>Industry analysts have warned that the added costs from tariffs could eventually trickle down to US consumers, raising prices on imported drugs unless companies take mitigation steps. UBS analysts noted that the EU could push for protective measures for pharmaceutical exports as part of ongoing negotiations. Major pharmaceutical firms like Sanofi and Roche are already taking preemptive actions to minimise disruptions, with Roche increasing US inventories and Sanofi selling a manufacturing facility in New Jersey to avoid supply chain bottlenecks.In the short term, however, no tariffs are expected to be imposed on pharmaceuticals immediately. US officials clarified that there will be no changes to the zero per cent tariff rate on pharmaceutical products for now, maintaining consistency with existing trade frameworks and WTO commitments. As the situation evolves, the pharmaceutical industry remains on edge, with questions surrounding tariffs still lingering in the wake of the EU-US trade deal.

The US-EU deal, which includes a 15 per cent tariff on most EU goods, does not yet provide clarity on how it will affect pharmaceuticals. Although medicines were excluded from the deal, they remain subject to the outcome of a US national security investigation.

A newly announced trade deal between the European Union (EU) and the United States could add substantial costs to the pharmaceutical sector, with estimates suggesting an additional $13 billion to $19 billion in expenses for drugmakers. The deal, which includes a 15 per cent tariff on most EU goods, does not yet provide clarity on how it will affect pharmaceuticals. Although medicines were excluded from the deal on July 27, they remain subject to the outcome of a US national security investigation, which could potentially impose tariffs of up to 15 per cent. Tariff uncertainty clouds the future for pharmaceuticals Pharmaceuticals are the EU’s largest export to the US by value, accounting for about 60 per cent of all EU pharmaceutical imports. Historically, these products have been exempt from tariffs, but the new trade agreement could change that. The investigation into the pharmaceutical sector, initiated by the Trump administration, has created uncertainty for the industry. US President Donald Trump recently hinted that tariffs could rise as high as 200 per cent on pharmaceuticals. However, some analysts do not expect additional tariffs beyond the 15 per cent already proposed, while others caution that the situation is still fluid. Despite the official announcement of the new EU-US deal on July 27, the pharmaceutical sector was not included in the blanket tariff, as the US could not commit to any decisions regarding tariffs until the national security review is completed. While the EU has expressed confidence that any new tariffs will be capped at 15 per cent, the lack of clarity has left pharmaceutical companies facing potential financial strain. Impact on EU drugmakers and US consumers Industry analysts have warned that the added costs from tariffs could eventually trickle down to US consumers, raising prices on imported drugs unless companies take mitigation steps. UBS analysts noted that the EU could push for protective measures for pharmaceutical exports as part of ongoing negotiations. Major pharmaceutical firms like Sanofi and Roche are already taking preemptive actions to minimise disruptions, with Roche increasing US inventories and Sanofi selling a manufacturing facility in New Jersey to avoid supply chain bottlenecks. In the short term, however, no tariffs are expected to be imposed on pharmaceuticals immediately. US officials clarified that there will be no changes to the zero per cent tariff rate on pharmaceutical products for now, maintaining consistency with existing trade frameworks and WTO commitments. As the situation evolves, the pharmaceutical industry remains on edge, with questions surrounding tariffs still lingering in the wake of the EU-US trade deal.

The US-EU deal, which includes a 15 per cent tariff on most EU goods, does not yet provide clarity on how it will affect pharmaceuticals. Although medicines were excluded from the deal, they remain subject to the outcome of a US national security investigation.

EU-US trade deal sparks uncertainty over pharmaceutical tariffs

In an announcement on May 11, US President Donald Trump revealed plans to sign an executive order that will drastically reduce the cost of prescription drugs for Americans.
The order, set to be signed at 9:00 am (US EST) on May 12, will implement a &ldquo;most favoured nation&rdquo; (MFN) policy, which ties the US price of prescription drugs to the lowest price paid for the same medications by any other country in the world. Trump asserts that this move could cut drug prices by as much as 30 per cent to 80 per cent, offering relief to millions of American consumers who face some of the highest pharmaceutical costs globally.
In a social media post on Truth Social, Trump framed the move as a long-overdue correction to what he described as a rigged system that has burdened US citizens with excessively high drug prices. He explained that, while drug prices in the US are sometimes five to ten times higher than in other nations, American consumers have had little to no recourse.
Trump blamed pharmaceutical companies for using research and development (R&amp;D) costs as a rationale for the pricing disparity, suggesting that these costs were disproportionately &ldquo;borne by the &lsquo;suckers&rsquo; of America, alone&rdquo;.
&ldquo;For many years, the world has wondered why prescription drugs and pharmaceuticals in the United States were so much higher in price than they were in any other nation,&rdquo; Trump said in his social media post. &ldquo;Sometimes being five to ten times more expensive than the same drug, manufactured in the exact same laboratory or plant, by the same company.&rdquo;
The announcement came as a direct challenge to the pharmaceutical industry's lobbying efforts and an ongoing debate over US drug pricing. The industry, led by trade group PhRMA, has consistently argued against government-imposed price controls, claiming they undermine innovation and hurt patients by limiting access to new treatments. Despite this, Trump insisted that the pharmaceutical sector&rsquo;s arguments about the negative impact on innovation were embarrassing and unfounded.
According to Trump, this policy would not only ensure fairness for American consumers but would also bring about global pricing changes, leading to higher prices abroad in order to &ldquo;equalise&rdquo; the global pharmaceutical market.
&ldquo;This is the kind of fairness we&rsquo;ve been fighting for. The United States will finally be treated fairly,&rdquo; Trump said in his post. &ldquo;We will save trillions of dollars, and our citizens&rsquo; healthcare costs will be reduced by numbers never even thought of before.&rdquo;
<h2 dir="ltr">The background</h2>
The policy follows a pattern from Trump&rsquo;s first term, when he sought to tackle drug pricing by introducing a &ldquo;Most Favoured Nation&rdquo; policy that would have linked the prices of certain drugs to those paid by other developed nations. The initiative, which sought to lower the price of drugs administered in doctor&rsquo;s offices, was met with fierce opposition from the pharmaceutical industry and ultimately blocked by federal courts.
The Biden administration chose not to pursue the policy further, opting instead to include drug price negotiations for Medicare under the Inflation Reduction Act of 2022.
Trump&rsquo;s latest announcement appears to build upon his earlier efforts, proposing a more expansive application of MFN pricing that could impact a broader range of drugs.
Despite the anticipated benefits for American consumers, the move has drawn sharp criticism from several quarters, including some senior Republicans and industry leaders.
Trump, however, dismissed these concerns, suggesting that the pharmaceutical industry had long manipulated the system to its benefit and that the costs of R&amp;D were inflated as a means of justifying excessive drug prices. He emphasised that the policy would bring substantial savings to both the federal government and individual consumers, ultimately benefiting American taxpayers.
While the policy&rsquo;s details remain unclear, it is widely expected that the MFN pricing would apply primarily to Medicare, the government health insurance program for seniors. Under the 2020 proposal, which was struck down by courts, Medicare would have paid the lowest price available for certain drugs among a group of 22 peer nations, including France and Japan.
The US pharmaceutical industry, however, strongly opposed the idea of linking US drug prices to those in other countries, arguing that foreign governments impose strict price controls that suppress competition and innovation. Drugmakers contend that higher prices in the US help fund research and the development of new therapies. Critics of the MFN approach argue that it would lead to higher costs in other countries and could result in shortages of certain medications.
The Trump administration&rsquo;s 2020 proposal faced a similar backlash and was eventually blocked by federal courts. However, Trump&rsquo;s team is determined to push the policy forward, citing the benefits to both American taxpayers and patients. Additionally, there is growing pressure within the administration to reduce the overall cost of prescription drugs, which remain one of the largest expenses for US households.
<h2 dir="ltr">Challenges ahead?</h2>
It remains to be seen whether Trump&rsquo;s new executive order will face similar legal challenges as its predecessor or whether it will be implemented without significant opposition. Experts warn that the road ahead could be fraught with legal hurdles, and some analysts remain sceptical about the effectiveness of such a policy.
As the situation unfolds, the debate over drug pricing in the US is likely to intensify, with both sides of the argument preparing for a lengthy legal and political battle. Whether Trump&rsquo;s proposal succeeds in lowering costs for Americans remains uncertain, but one thing is clear: prescription drug prices will be a central issue for the foreseeable future.
For now, Americans are left wondering whether the president&rsquo;s bold claims about cutting drug prices by as much as 80 per cent will materialise into a reality or if they will become yet another point of contention in the ongoing struggle over US healthcare reform.
(With inputs from agencies)

Business & Economy: Trump asserts that this move could cut drug prices by as much as 30 per cent to 80 per cent, offering relief to millions of American consumers.

In an announcement on May 11, US President Donald Trump revealed plans to sign an executive order that will drastically reduce the cost of prescription drugs for Americans. The order, set to be signed at 9:00 am (US EST) on May 12, will implement a “most favoured nation” (MFN) policy, which ties the US price of prescription drugs to the lowest price paid for the same medications by any other country in the world. Trump asserts that this move could cut drug prices by as much as 30 per cent to 80 per cent, offering relief to millions of American consumers who face some of the highest pharmaceutical costs globally. In a social media post on Truth Social, Trump framed the move as a long-overdue correction to what he described as a rigged system that has burdened US citizens with excessively high drug prices. He explained that, while drug prices in the US are sometimes five to ten times higher than in other nations, American consumers have had little to no recourse. Trump blamed pharmaceutical companies for using research and development (R&D) costs as a rationale for the pricing disparity, suggesting that these costs were disproportionately “borne by the ‘suckers’ of America, alone”. “For many years, the world has wondered why prescription drugs and pharmaceuticals in the United States were so much higher in price than they were in any other nation,” Trump said in his social media post. “Sometimes being five to ten times more expensive than the same drug, manufactured in the exact same laboratory or plant, by the same company.” The announcement came as a direct challenge to the pharmaceutical industry's lobbying efforts and an ongoing debate over US drug pricing. The industry, led by trade group PhRMA, has consistently argued against government-imposed price controls, claiming they undermine innovation and hurt patients by limiting access to new treatments. Despite this, Trump insisted that the pharmaceutical sector’s arguments about the negative impact on innovation were embarrassing and unfounded. According to Trump, this policy would not only ensure fairness for American consumers but would also bring about global pricing changes, leading to higher prices abroad in order to “equalise” the global pharmaceutical market. “This is the kind of fairness we’ve been fighting for. The United States will finally be treated fairly,” Trump said in his post. “We will save trillions of dollars, and our citizens’ healthcare costs will be reduced by numbers never even thought of before.” The background The policy follows a pattern from Trump’s first term, when he sought to tackle drug pricing by introducing a “Most Favoured Nation” policy that would have linked the prices of certain drugs to those paid by other developed nations. The initiative, which sought to lower the price of drugs administered in doctor’s offices, was met with fierce opposition from the pharmaceutical industry and ultimately blocked by federal courts. The Biden administration chose not to pursue the policy further, opting instead to include drug price negotiations for Medicare under the Inflation Reduction Act of 2022. Trump’s latest announcement appears to build upon his earlier efforts, proposing a more expansive application of MFN pricing that could impact a broader range of drugs. Despite the anticipated benefits for American consumers, the move has drawn sharp criticism from several quarters, including some senior Republicans and industry leaders. Trump, however, dismissed these concerns, suggesting that the pharmaceutical industry had long manipulated the system to its benefit and that the costs of R&D were inflated as a means of justifying excessive drug prices. He emphasised that the policy would bring substantial savings to both the federal government and individual consumers, ultimately benefiting American taxpayers. While the policy’s details remain unclear, it is widely expected that the MFN pricing would apply primarily to Medicare, the government health insurance program for seniors. Under the 2020 proposal, which was struck down by courts, Medicare would have paid the lowest price available for certain drugs among a group of 22 peer nations, including France and Japan. The US pharmaceutical industry, however, strongly opposed the idea of linking US drug prices to those in other countries, arguing that foreign governments impose strict price controls that suppress competition and innovation. Drugmakers contend that higher prices in the US help fund research and the development of new therapies. Critics of the MFN approach argue that it would lead to higher costs in other countries and could result in shortages of certain medications. The Trump administration’s 2020 proposal faced a similar backlash and was eventually blocked by federal courts. However, Trump’s team is determined to push the policy forward, citing the benefits to both American taxpayers and patients. Additionally, there is growing pressure within the administration to reduce the overall cost of prescription drugs, which remain one of the largest expenses for US households. Challenges ahead? It remains to be seen whether Trump’s new executive order will face similar legal challenges as its predecessor or whether it will be implemented without significant opposition. Experts warn that the road ahead could be fraught with legal hurdles, and some analysts remain sceptical about the effectiveness of such a policy. As the situation unfolds, the debate over drug pricing in the US is likely to intensify, with both sides of the argument preparing for a lengthy legal and political battle. Whether Trump’s proposal succeeds in lowering costs for Americans remains uncertain, but one thing is clear: prescription drug prices will be a central issue for the foreseeable future. For now, Americans are left wondering whether the president’s bold claims about cutting drug prices by as much as 80 per cent will materialise into a reality or if they will become yet another point of contention in the ongoing struggle over US healthcare reform. (With inputs from agencies)

Donald Trump plans major move to cut drug prices by up to 80%

The antibiotic-resistant infections can kill nearly 40 million people by 2050, as per a new study published in The Lancet. According to the researchers, drug-resistant infections led to the death of more than one million people every year between 1900 and 2021.

The antibiotic-resistant infections can kill nearly 40 million people by 2050, as per a new study published in The Lancet. According to the researchers, drug-resistant infections led to the death of more than one million people every year between 1900 and 2021. According to the report, this number can go up to nearly two million by 2050, which means that around 40 million people will apparently die in more than 25 years due to these infections. The researchers believe that the lives of a third of people can be saved if they get wider access to better treatment and appropriate antibiotics. Bacterial antimicrobial resistance (AMR) takes place when the bacteria evolves and becomes drug-resistant, which makes common diseases like pneumonia, UTIs, and diarrhoea lethal. Also Read: Virus EV-D68, which sometimes paralyses kids, is spreading across US: Reports This adaptation to exist beyond medicine is leading to a "silent pandemic," which needs to be urgently addressed, stated the researchers. "The threat of fungal pathogens and antifungal resistance, even though it is a growing global issue, is being left out of the debate," said Norman van Rhijn, a molecular biologist from the University of Manchester in the UK. Researchers appeal govt and pharmaceutical firms to 'look beyond just bacteria' The international team of scientists and van Rhijn have appealed to the pharmaceutical industry and governments to "look beyond just bacteria." They warned that if some action is not taken, the fungal infections can infect 6.5 million people and kill 3.8 million people annually. "The disproportionate focus on bacteria is concerning because many drug resistance problems over the past decades were the result of invasive fungal diseases, which are largely under-recognized by the community and governments alike," wrote van Rhijn, in the report. Watch: Virus Linked To Childhood Paralysis On The Rise In The US "To treat deep or invasive fungal infections, only four systemic antifungal classes are available and resistance is now the rule rather than the exception for those currently available classes," stated the authors. In the last few decades, new antifungals have emerged, however, the race between pathogens and medicine is now being sped up. "Even before [these drugs] reach the market after years of development and clinical trials, fungicides with similar modes of action are developed by the agrochemical industry, resulting in cross-resistance for critical priority pathogens," explained the researchers. "Antifungal protection is required for food security. The question is, how do we balance food security with the ability to treat current and future resistant fungal pathogens?," they said. (With inputs from agencies)

Deadly fungal infections spreading like 'silent pandemic', can kill 40mn people in just 25 years: Study

More than 50 Indian companies which manufacture cough syrups did not pass quality tests, according to a government report. The Central Drugs Standard Control Organisation (CDSCO) released the report which stated that out of 2,104 test reports, 128 of them which belonged to 54 companies failed to meet the standard quality requirements. The failed test reports comprised 6 per cent of the total test reports. Watch this to know more.

India's 50 cough syrup manufacturers fail to clear quality tests: Report | WION Originals

Gambia will make it mandatory for all pharmaceutical products from India to be inspected and tested prior to shipment from July 1, according to Gambian government documents reviewed by Reuters, the first known restrictions on national exports following the deaths of dozens of children linked to Indian-made cough syrups.

The new rule highlights how governments are reassessing their reliance on India's $42 billion pharmaceutical industry since the contamination came to light last year. India's industry supplies nearly half of the pharmaceuticals used in Africa. In April, India’s government said its officials had held meetings in Africa to ensure its drug exports did not suffer after at least 70 children died in Gambia after ingesting the cough syrup last year.

Gambia's latest move is to "address issues related to substandard and falsified (counterfeit) medicines entering the country", the executive director of its Medicines Control Agency (MCA), Markieu Janneh Kaira, wrote in a letter to India's drug controller general, Rajeev Singh Raghuvanshi, dated June 15. The letter said that the MCA had appointed Quntrol Laboratories, an independent inspection and testing company for pharmaceuticals based in Mumbai, to issue a so-called Clean Report of Inspection and Analysis (CRIA) for all shipments from India.

"Quntrol shall conduct document verification, physical inspection of the consignment and sampling, for laboratory testing for each shipment", the letter said. "If conformity is established at all levels, Quntrol shall issue the mandatory CRIA document. If conformity is not established with regards to the quality of the product, the shipment will be quarantined or seized by the MCA and the necessary regulatory actions shall be taken."

Janneh Kaira told Reuters the rule "applies to India for now only". Since June 1, India has made tests mandatory for all cough syrups before they are exported.

Raghuvanshi did not immediately respond to a request for comment outside regular business hours.

With 2.5 million people, Gambia is one of Africa’s smallest and poorest countries. The World Bank is funding a testing laboratory in Gambia but it is not yet finished. The letter said Quntrol would send samples for testing to "one of the analytical laboratories approved by MCA". It did not say if the laboratory would be based in India or elsewhere. At least 70 children, most of them under the age of 5, died in Gambia last year due to acute kidney injury that doctors have linked to adulterated cough syrups from India. The World Health Organization said last year that the India-made cough syrups contained lethal toxins ethylene glycol and diethylene glycol – commonly used in car brake fluid and other products not fit for human consumption. These ingredients can be used by unscrupulous actors as a substitute for propylene glycol, which is a key base of syrupy medicines – because they can cost less than half the price – manufacturing experts say.

WATCH WION LIVE HERE

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Gambia will make it mandatory for all pharmaceutical products from India to be inspected and tested prior to shipment from July 1, according to Gambian government documents reviewed by Reuters, the first known restrictions on national exports following the deaths of dozens of children linked to Indian-made cough syrups.

Gambia will make it mandatory for all pharmaceutical products from India to be inspected and tested prior to shipment from July 1, according to Gambian government documents reviewed by Reuters, the first known restrictions on national exports following the deaths of dozens of children linked to Indian-made cough syrups. The new rule highlights how governments are reassessing their reliance on India's $42 billion pharmaceutical industry since the contamination came to light last year. India's industry supplies nearly half of the pharmaceuticals used in Africa. In April, India’s government said its officials had held meetings in Africa to ensure its drug exports did not suffer after at least 70 children died in Gambia after ingesting the cough syrup last year. Gambia's latest move is to "address issues related to substandard and falsified (counterfeit) medicines entering the country", the executive director of its Medicines Control Agency (MCA), Markieu Janneh Kaira, wrote in a letter to India's drug controller general, Rajeev Singh Raghuvanshi, dated June 15. The letter said that the MCA had appointed Quntrol Laboratories, an independent inspection and testing company for pharmaceuticals based in Mumbai, to issue a so-called Clean Report of Inspection and Analysis (CRIA) for all shipments from India. "Quntrol shall conduct document verification, physical inspection of the consignment and sampling, for laboratory testing for each shipment", the letter said. "If conformity is established at all levels, Quntrol shall issue the mandatory CRIA document. If conformity is not established with regards to the quality of the product, the shipment will be quarantined or seized by the MCA and the necessary regulatory actions shall be taken." Janneh Kaira told Reuters the rule "applies to India for now only". Since June 1, India has made tests mandatory for all cough syrups before they are exported. Raghuvanshi did not immediately respond to a request for comment outside regular business hours. With 2.5 million people, Gambia is one of Africa’s smallest and poorest countries. The World Bank is funding a testing laboratory in Gambia but it is not yet finished. The letter said Quntrol would send samples for testing to "one of the analytical laboratories approved by MCA". It did not say if the laboratory would be based in India or elsewhere. At least 70 children, most of them under the age of 5, died in Gambia last year due to acute kidney injury that doctors have linked to adulterated cough syrups from India. The World Health Organization said last year that the India-made cough syrups contained lethal toxins ethylene glycol and diethylene glycol – commonly used in car brake fluid and other products not fit for human consumption. These ingredients can be used by unscrupulous actors as a substitute for propylene glycol, which is a key base of syrupy medicines – because they can cost less than half the price – manufacturing experts say. WATCH WION LIVE HERE

Gambia tightens rules for Indian drugs after cough syrup deaths: Letter

France's pharmaceutical giant Sanofi has said that the United States will be the first country to receive coronavirus vaccine if they succesfully develop it.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/french-unemployment-rate-falls-down-to-78-lowest-in-11-years-298592" hreflang="en">French unemployment rate falls down to 7.8%; lowest in 11 years</a>

Sanofi has decided to do so because the United States were the first one's to fund the research. Chief Executive Officer Pauk Hudson during an interview to Bloomberg said: "the US government has the right to the largest pre-order because it's invested in taking the risk." He also said "that if we've helped you manufacture the doses at risk, we expect to get the doses first."

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/un-forecasts-coronavirus-to-shrink-world-economy-by-32-indias-growth-rate-projected-to-slow-to-12-in-2020-298590" hreflang="en">UN forecasts coronavirus to shrink world economy by 3.2%; India's growth rate projected to slow to 1.2% in 2020</a>

After receiving a financial boost from the US in Febraury, the French-based pharmaceutical company tied up with a British pharmaceutical company GlaxoSmithKine.&nbsp;

Sanofi's statement has kept wondering everyone on the distribution of the vaccine if ever created. The plan for distribution would need to be concrete to prevent chaos.&nbsp;

Some in the United States have suggested that if the vaccines are released, their health workers will be among the first to get it. But the global distribution of the vaccine to complicate by politics and logistics.&nbsp;

Paul Hudson told Bloomberg that he has been pushing European leaders to invest more in vaccine. He said: "I've been campaigning in Europe to say the US will get vaccines first," Hudson said. "That's how it will be because the they've invested to try and protect their population, to restart their economy."

France's pharmaceutical giant Sanofi has said that the United States will be the first country to receive coronavirus vaccine if they succesfully develop it. Also read: French unemployment rate falls down to 7.

France's pharmaceutical giant Sanofi has said that the United States will be the first country to receive coronavirus vaccine if they succesfully develop it. Also read: French unemployment rate falls down to 7.8%; lowest in 11 years Sanofi has decided to do so because the United States were the first one's to fund the research. Chief Executive Officer Pauk Hudson during an interview to Bloomberg said: "the US government has the right to the largest pre-order because it's invested in taking the risk." He also said "that if we've helped you manufacture the doses at risk, we expect to get the doses first." Also read: UN forecasts coronavirus to shrink world economy by 3.2%; India's growth rate projected to slow to 1.2% in 2020 After receiving a financial boost from the US in Febraury, the French-based pharmaceutical company tied up with a British pharmaceutical company GlaxoSmithKine. Sanofi's statement has kept wondering everyone on the distribution of the vaccine if ever created. The plan for distribution would need to be concrete to prevent chaos. Some in the United States have suggested that if the vaccines are released, their health workers will be among the first to get it. But the global distribution of the vaccine to complicate by politics and logistics. Paul Hudson told Bloomberg that he has been pushing European leaders to invest more in vaccine. He said: "I've been campaigning in Europe to say the US will get vaccines first," Hudson said. "That's how it will be because the they've invested to try and protect their population, to restart their economy."

French pharmaceuticals Sanofi: US will be first country to receive COVID vaccine

One of India&#39;s largest drugmakers, Sun Pharmaceutical Industries, is banking on the launch of newer and more complex products to offset rising competition in its lucrative US dermatology business, its US chief said. 
 
The world&#39;s fifth-largest maker of generic drugs was the first among its Indian peers to enter the roughly $5-billion US dermatology space by acquiring a controlling stake in Israel&#39;s Taro Pharmaceutical Industries Ltd in 2010. 
 
That marked a major effort by Sun to scale up its niche and specialty drugs pipeline, as the market for plain-vanilla generics - most large Indian drugmakers&#39; bread and butter until then - started to get increasingly crowded with smaller players. 
 
But as competition has heated up in the last few years, many companies have also sought niche markets, and dermatology has attracted quite a few. India&#39;s Lupin bought US firm Gavis to expand in dermatology, and Glenmark Pharmaceuticals is scaling up its pipeline too. 
 
Mid-sized drugmakers such as Torrent Pharmaceuticals and Alembic Pharmaceuticals are working on skin treatments, and many small US firms are increasingly challenging Sun&#39;s share in the market, analysts say. 
 
Kal Sundaram, who heads Sun&#39;s operations in the United States, its largest market, said the company would lose some share in dermatology in the short-term, but was confident of its pipeline of new products driving growth. 
 
&quot;While the competitive intensity will increase, it is not going to be like atorvastatin (Lipitor), where you have 10 or 15 manufacturers,&quot; Sundaram told Reuters. &quot;(In dermatology), maybe from three (manufacturers) it would go to about five.&quot; 
 
Sun has high hopes for tildrakizumab, an experimental psoriasis drug that recently completed late-stage trials, full results of which are due out soon. 
 
Most dermatology drugs require clinical studies for approval, which Kal said cost between $7 million and $10 million, on average, &quot;and there is no guarantee if they will be successful&quot;, thus limiting competition. 
 
Nimish Mehta, founder and director of ResearchDelta Advisors, said he expected Taro&#39;s sales to rise 18 per cent this fiscal year based on approvals for new dermatology products. 
 
Price hikes have largely helped Sun grow its dermatology business over the years, but they are harder to make, after a recent wave of consolidation between US drug distributors. 
 
Sundaram said the company expects pressure on prices in the short term, but it is betting on expanding volumes. 
 
(Reuters)

Sun has high hopes for tildrakizumab, an experimental psoriasis drug, that completed its late-stage trials recently

One of India's largest drugmakers, Sun Pharmaceutical Industries, is banking on the launch of newer and more complex products to offset rising competition in its lucrative US dermatology business, its US chief said. The world's fifth-largest maker of generic drugs was the first among its Indian peers to enter the roughly $5-billion US dermatology space by acquiring a controlling stake in Israel's Taro Pharmaceutical Industries Ltd in 2010. That marked a major effort by Sun to scale up its niche and specialty drugs pipeline, as the market for plain-vanilla generics - most large Indian drugmakers' bread and butter until then - started to get increasingly crowded with smaller players. But as competition has heated up in the last few years, many companies have also sought niche markets, and dermatology has attracted quite a few. India's Lupin bought US firm Gavis to expand in dermatology, and Glenmark Pharmaceuticals is scaling up its pipeline too. Mid-sized drugmakers such as Torrent Pharmaceuticals and Alembic Pharmaceuticals are working on skin treatments, and many small US firms are increasingly challenging Sun's share in the market, analysts say. Kal Sundaram, who heads Sun's operations in the United States, its largest market, said the company would lose some share in dermatology in the short-term, but was confident of its pipeline of new products driving growth. "While the competitive intensity will increase, it is not going to be like atorvastatin (Lipitor), where you have 10 or 15 manufacturers," Sundaram told Reuters. "(In dermatology), maybe from three (manufacturers) it would go to about five." Sun has high hopes for tildrakizumab, an experimental psoriasis drug that recently completed late-stage trials, full results of which are due out soon. Most dermatology drugs require clinical studies for approval, which Kal said cost between $7 million and $10 million, on average, "and there is no guarantee if they will be successful", thus limiting competition. Nimish Mehta, founder and director of ResearchDelta Advisors, said he expected Taro's sales to rise 18 per cent this fiscal year based on approvals for new dermatology products. Price hikes have largely helped Sun grow its dermatology business over the years, but they are harder to make, after a recent wave of consolidation between US drug distributors. Sundaram said the company expects pressure on prices in the short term, but it is betting on expanding volumes. (Reuters)

Sun Pharma bets on new products to boost US skincare products growth

The Indian government on Monday radically liberalised the foreign direct investment (FDI) regime with the objective of providing major impetus to employment and job creation in India, as 100 per cent FDI was approved in the sectors of aviation, food, defence and pharmaceuticals. &nbsp; 
&nbsp; 
The decision was taken at a high-level meeting chaired by Prime Minister Narendra Modi on Monday. &nbsp; 
&nbsp; 
Modi hailed a sweeping liberalisation of rules on foreign direct investment on Monday, saying they will make Asia&#39;s third-largest economy the most open in the world. &nbsp; 
&nbsp; 
&quot;Key reform decisions were taken at a high level meeting chaired by the PM, which makes India the most open economy in the world for FDI,&quot; Modi said in a tweet. &nbsp; 
&nbsp; 
In a second tweet, he said the changes would provide a &quot;major impetus to employment and job creation in India.&quot; &nbsp; 
&nbsp;
<blockquote class="twitter-tweet" data-lang="en">
It has now been decided to permit 100% FDI under government approval route for trading, including through e-commerce (1/2)
&mdash; PMO India (@PMOIndia) <a href="https://twitter.com/PMOIndia/status/744826441750163456">June 20, 2016</a></blockquote>
<script async src="~/platform.twitter.com/widgets.js" charset="utf-8" type="text/javascript"></script> 
This is the second major reform after the last radical changes announced in November 2015. Now most of the sectors will be under the automatic approval route except a small negative list. &nbsp; 
&nbsp; 
Launching the second set of liberalisation of foreign investments, the government relaxed the norms in host of sectors including single brand retail trade (SBTR), broadcasting carriage services, private security agencies and animal husbandry.&nbsp; 
Welcoming the landmark decision to open up the FDI regime, the Confederation of Indian Industry (CII) said the relaxation of local sourcing norms under single brand retail trading for advanced technology products would encourage global brands to build up their participation in the country.&nbsp; 
 
&quot;Taken together, the FDI rules announced today will attract big new investments across key sectors such as food processing, defence production, pharmaceuticals and civil aviation, among others, thereby adding to growth and employment,&quot; Director General of CII Chandrajit Banerjee said in a statement.&nbsp; 
 
Changes introduced in the policy include increase in sectoral caps, bringing more activities under the automatic route and easing of conditionality for foreign investment. &nbsp; 
&nbsp; 
These amendments seek to further simplify the regulations governing FDI in the country and make India an attractive destination for foreign investors. &nbsp;&nbsp; 
&nbsp; 
It was decided to permit 100 per cent FDI under government approval route for trading, including through e-commerce, in respect of food products manufactured or produced in India. &nbsp; 
&nbsp; 
In the defence sector, foreign investment beyond 49 per cent has now been permitted through government approval route, in cases resulting in access to modern technology in the country or for other reasons to be recorded. The condition of access to &#39;state-of-the-art&#39; technology in the country has been done away with. &nbsp; 
&nbsp; 
FDI limit for defence sector has also been made applicable to Manufacturing of Small Arms and Ammunitions covered under the Arms Act, 1959, of India. &nbsp; 
&nbsp; 
For private security agencies, FDI up to 49 per cent permitted under automatic route and FDI beyond 49 per cent and up to 74 per cent will be permitted through the government approval route. &nbsp; 
&nbsp; 
The extant FDI policy on pharmaceutical sector provides for 100 per cent FDI under automatic route in greenfield pharma and FDI up to 100 per cent under government approval in brownfield pharma. &nbsp; 
&nbsp; 
The extant policy on airports permits 100 per cent FDI under the automatic route in Greenfield Projects and 74 per cent FDI in Brownfield Projects under automatic route. &nbsp; 
&nbsp; 
With a view to aid in modernisation of the existing airports to establish a high standard and help ease the pressure on the existing airports, it has been decided to permit 100 per cent FDI under automatic route in Brownfield Airport projects. &nbsp; 
&nbsp; 
As per the existing FDI policy, foreign investment up to 49 per cent is allowed under automatic route in scheduled air transport service/domestic scheduled passenger airline and regional air transport service. &nbsp; 
&nbsp; 
It has now been decided to raise this limit to 100 per cent, with FDI up to 49 per cent permitted under automatic route and FDI beyond 49 per cent through government approval. &nbsp; 
&nbsp; 
Monday&#39;s amendments to the FDI policy are meant to liberalise and simplify the FDI policy so as to provide ease of doing business in the country leading to larger FDI inflows contributing to growth of investment, incomes and employment. &nbsp;&nbsp; 
India&#39;s economic affairs secretary Shaktikanta Das said the manufacturing sector and job generation will get a boost with dual clearances no longer needed. &nbsp; 
 
&quot;With this liberalisation, we expect manufacturing activity to come in, more activity in defence products. The driving force behind the whole thing is that all this investment should facilitate creation of jobs,&quot; he told reporters here.&nbsp; 
The decision on FDI liberalisation was a follow-up to the decisions which were taken last November when a whole lot of reforms were announced. &nbsp;&nbsp; 
 
&quot;Wherever approval is given by the regulator, the companies will not need to the approach the Foreign Investment Promotion Board (FIPB) for clearance,&quot; he said.&nbsp; 
&nbsp; 
(Agencies) &nbsp; 
&nbsp;

Foreign direct investment will be possible in sectors like food, defence, pharmaceuticals and aviation through the automatic approval route

The Indian government on Monday radically liberalised the foreign direct investment (FDI) regime with the objective of providing major impetus to employment and job creation in India, as 100 per cent FDI was approved in the sectors of aviation, food, defence and pharmaceuticals. The decision was taken at a high-level meeting chaired by Prime Minister Narendra Modi on Monday. Modi hailed a sweeping liberalisation of rules on foreign direct investment on Monday, saying they will make Asia's third-largest economy the most open in the world. "Key reform decisions were taken at a high level meeting chaired by the PM, which makes India the most open economy in the world for FDI," Modi said in a tweet. In a second tweet, he said the changes would provide a "major impetus to employment and job creation in India." It has now been decided to permit 100% FDI under government approval route for trading, including through e-commerce (1/2) — PMO India (@PMOIndia) June 20, 2016 This is the second major reform after the last radical changes announced in November 2015. Now most of the sectors will be under the automatic approval route except a small negative list. Launching the second set of liberalisation of foreign investments, the government relaxed the norms in host of sectors including single brand retail trade (SBTR), broadcasting carriage services, private security agencies and animal husbandry. Welcoming the landmark decision to open up the FDI regime, the Confederation of Indian Industry (CII) said the relaxation of local sourcing norms under single brand retail trading for advanced technology products would encourage global brands to build up their participation in the country. "Taken together, the FDI rules announced today will attract big new investments across key sectors such as food processing, defence production, pharmaceuticals and civil aviation, among others, thereby adding to growth and employment," Director General of CII Chandrajit Banerjee said in a statement. Changes introduced in the policy include increase in sectoral caps, bringing more activities under the automatic route and easing of conditionality for foreign investment. These amendments seek to further simplify the regulations governing FDI in the country and make India an attractive destination for foreign investors. It was decided to permit 100 per cent FDI under government approval route for trading, including through e-commerce, in respect of food products manufactured or produced in India. In the defence sector, foreign investment beyond 49 per cent has now been permitted through government approval route, in cases resulting in access to modern technology in the country or for other reasons to be recorded. The condition of access to 'state-of-the-art' technology in the country has been done away with. FDI limit for defence sector has also been made applicable to Manufacturing of Small Arms and Ammunitions covered under the Arms Act, 1959, of India. For private security agencies, FDI up to 49 per cent permitted under automatic route and FDI beyond 49 per cent and up to 74 per cent will be permitted through the government approval route. The extant FDI policy on pharmaceutical sector provides for 100 per cent FDI under automatic route in greenfield pharma and FDI up to 100 per cent under government approval in brownfield pharma. The extant policy on airports permits 100 per cent FDI under the automatic route in Greenfield Projects and 74 per cent FDI in Brownfield Projects under automatic route. With a view to aid in modernisation of the existing airports to establish a high standard and help ease the pressure on the existing airports, it has been decided to permit 100 per cent FDI under automatic route in Brownfield Airport projects. As per the existing FDI policy, foreign investment up to 49 per cent is allowed under automatic route in scheduled air transport service/domestic scheduled passenger airline and regional air transport service. It has now been decided to raise this limit to 100 per cent, with FDI up to 49 per cent permitted under automatic route and FDI beyond 49 per cent through government approval. Monday's amendments to the FDI policy are meant to liberalise and simplify the FDI policy so as to provide ease of doing business in the country leading to larger FDI inflows contributing to growth of investment, incomes and employment. India's economic affairs secretary Shaktikanta Das said the manufacturing sector and job generation will get a boost with dual clearances no longer needed. "With this liberalisation, we expect manufacturing activity to come in, more activity in defence products. The driving force behind the whole thing is that all this investment should facilitate creation of jobs," he told reporters here. The decision on FDI liberalisation was a follow-up to the decisions which were taken last November when a whole lot of reforms were announced. "Wherever approval is given by the regulator, the companies will not need to the approach the Foreign Investment Promotion Board (FIPB) for clearance," he said. (Agencies)

Radical reform: India allows 100% FDI in key sectors

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