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Akanki Sharma is a journalist.
Portfolio
Journalism with a human touch
India's significant demand for gold is fueling commercial fraud and grey-market transactions. Vivek Johri, former chairman of the Central Board of Indirect Taxes and Customs, notes an increase in seizures and smuggling methods. Vipul Shah, chairman of the Gem and Jewellery Export Promotion Council, calls for a reduction in gold import duty to 4 percent. Somasundaram P.R., regional CEO of the World Gold Council, advocates for the establishment of a self-regulatory organization.
Serum Institute of India Seeks Inclusion of COVID Vaccine Covovax in CoWIN Portal as Heterologous Booster Dose for Adults
The Serum Institute of India has requested the union health ministry to include its COVID vaccine Covovax on the CoWIN portal as a heterologous booster dose for adults. The request was made by Prakash Kumar Singh, Director of Government and Regulatory Affairs at SII. The National Technical Advisery Group on Immunisation is expected to meet soon to make a decision. Covovax has received market authorization from the Drugs Controller General of India as a booster for those who have received Covishield or Covaxin. The vaccine, developed through technology transfer from Novavax, has also been approved by the EMA and received WHO's Emergency Use Listing.
China allows sale of Pfizer oral drug as demand surges in wake of rising COVID cases
China has approved the sale of Pfizer's COVID-19 pill, Paxlovid, following the country's shift from its 'zero-COVID' policy. China Meheco Group has signed an agreement with Pfizer to import and distribute the drug, which is now available for retail sale. The first retail sale saw the drug sell out within half an hour. Dr Ashish Jha from the White House stated that the Biden administration was not involved in the approval process but supports global access to American scientific innovations.
EU plans changes to pharma law to avoid medicine shortages
The European Union plans to revise its pharmaceutical legislation to address medicine shortages, particularly antibiotics, which have been reported in 26 European countries. Health Commissioner Stella Kyriakides emphasized the need for stronger supply obligations and earlier shortage notifications. The European Commission's proposal is expected in March. The shortages are attributed to an early rise in respiratory infections and limited production capacity. The EU is exploring regulatory options and engaging with companies to boost production. The Health Emergency Preparedness and Response Authority may also procure medicines to mitigate shortages.
EU to aggregate cancer imaging data across bloc in new project
The European Union has launched the European Cancer Imaging Initiative to aggregate cancer imaging data, aiming to accelerate innovation and early diagnosis using AI. The project aligns with the EU's data strategy and GDPR compliance. Health Commissioner Stella Kyriakides emphasized the role of digital technology in understanding cancer. Companies like Philips, Siemens Healthineers, and Bayer are involved, with Bayer recently acquiring Blackford Analysis to enhance AI diagnostic capabilities. Stakeholders express strong support for the initiative, highlighting its potential to advance medical research and diagnostic tools.
California lawsuit accuses drugmakers of insulin overcharging
California is suing major insulin manufacturers Eli Lilly, Novo Nordisk, and Sanofi, along with the largest Pharmacy Benefit Managers (PBMs) UnitedHealth Group, CVS Health, and Cigna, for allegedly overcharging patients for insulin. The lawsuit claims these companies used their market dominance to inflate prices, violating California's Unfair Competition Law. The state seeks to halt these practices and obtain damages for affected patients. Insulin prices have significantly increased, with reports showing substantial price hikes by these manufacturers since the drugs' initial launches.
Eli Lilly to invest $450 million more to expand capacity as obesity drug decision looms
Eli Lilly is set to invest an additional $450 million to expand its North Carolina plant, aiming to boost production capacity ahead of an anticipated approval for its obesity drug, Mounjaro. The company has faced strong demand for its incretin products, including Trulicity, which has led to shortages. The expansion will add parenteral filling, device assembly, and packaging capacity, creating at least 100 new jobs by 2027. Analyst Chris Shibutani projects Mounjaro to generate significant sales, driving future growth for Eli Lilly. Since 2020, the company has committed $1.7 billion to the development of the Research Triangle Park site.
AbbVie and Eli Lilly exit UK drug pricing agreement
AbbVie and Eli Lilly have exited the UK's voluntary medicines pricing agreement due to unsustainable repayment rates, which surged to 26.5% of revenue in 2023. The Association of the British Pharma Industry (ABPI) argues that the current scheme has harmed innovation and seeks early talks with the government for a new settlement. The NHS's demand and use of new medicines have outpaced pre-pandemic projections, driving repayment rates to unsustainable levels. The current scheme, rooted in the NHS's foundation, will end in December.
USFDA grants appeal for Ardelyx's kidney disease drug
The USFDA has granted an appeal for Ardelyx’s experimental kidney disease drug, tenapanor, after previously delaying its decision. This news led to a significant rise in Ardelyx’s shares. The FDA's advisory committee had earlier voted for the drug's approval both as a single therapy and in combination with existing treatments for controlling high phosphate levels in dialysis patients. Tenapanor, also known as Ibsrela, is already approved for treating irritable bowel syndrome in the US and Canada. Ardelyx had reacquired the drug rights from AstraZeneca in 2015.
Indian scientists discover new anti-cancer agent showing huge promise
Scientists from Mumbai’s Tata Institute of Fundamental Research, the Agharkar Research Institute in Pune, and IIT Hyderabad have discovered a new drug molecule, Ruthenium-Ferrocene Bimetallic, showing high anti-tumor potential and anti-angiogenic effects. This development is significant due to the limitations of current platinum drugs, which often face resistance. The research, led by Malay Patra, has shown promising results in cellular models and zebrafish, with plans to test on mammals. The findings have been published in the ACS journal, indicating potential for managing platinum-resistant cancers.
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