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Samsung Bioepis suspends development for its biosimilar referencing Eylea (aflibercept); the FDA updates its labeling recommendations for interchangeable biosimilars; Alvotech receives a Form 483 after the FDA reinspected its Iceland-based manufacturing facility.
Shares of Indian pharmaceutical company, Ipca Laboratories, fell by 3% after the US Food and Drug Administration (USFDA) issued a Form 483 report, citing 11 observations of its API manufacturing facility situated in Ratlam. Form 483 is issued when an inspector has found conditions that could violate FDA regulations. Ipca said it takes quality and compliance issues seriously and will submit a response in the prescribed time. Trendlyne data showed that the stock's day RSI (14) is at 57.8, while the MACD is above its center and signal line, which is a bullish indicator.
Lupin shares plunged 3.18% to Rs 106.50 against the previous close of Rs 110 on BSE. Market cap of the firm fell to Rs 10,970 crore
Takeda is preparing for the patent loss of its third-largest product but called it quits on a rare disease therapy.
Merck's former China head will return to the Big Pharma to lead international human health operations after a short stint at a Chinese company.