The pharmaceutical sector saw a mix of regulatory approvals and tax-related issues.
Key Highlights
- AstraZeneca: Received approval from the Central Drugs Standard Control Organisation to import a lung cancer drug (Positive).
- Aurobindo Pharma Ltd: Completed the acquisition of 80% stake in Tergene Biotech Ltd (Neutral).
- Glenmark: Announced the recall of 1.5 million bottles of ADHD medication in the US, as per USFDA (Negative).
- Mankind Pharma: Received an income tax demand order of ₹111.68 crore for the assessment year 2021-22 (Negative).
- Bayer Crop: Received a ₹9.21 million penalty order from the Maharashtra GST department for Input Tax Credit & Outward Supply GST violations for FY2020-21 (Neutral).
While AstraZeneca’s regulatory approval is a positive development, tax and compliance issues remain a concern for Glenmark, Mankind Pharma, and Bayer Crop.
Disclaimer: This article is for informational purposes only and should not be considered investment advice. Please consult with a financial expert before making any investment decisions.
