Plethico Of India To Reduce CRAMS Work, Citing Lower Margins
This article was originally published in PharmAsia News
India's Plethico Pharmaceuticals, citing the nation's rising inflation and fuel costs, plans to reduce its contract research and manufacturing services. The firm's CFO said the higher costs and inflation are creating insufficient profit margins as it faces renegotiation of contracts. Plethico also faced added competition in the CRAMS business when Wockhardt entered that aspect of the industry last year. (Click here for more
You may also be interested in...
Hanmi licenses out GLP-1/glucagon receptor dual agonist for NASH to Merck, in a deal worth up to $870m, marking a positive turn for the Korean firm's pipeline after Janssen returned rights last year.
Nomolotus discontinued social media claims that its herbal supplement supports users’ immune systems during the COVID-19 pandemic and customers reviews referencing the virus after the National Advertising Division questioned the statements as misleading.
A PwC analysis finds biopharma aggregate deal value declined 87% during the first half compared to the second half of 2018; deal volume dropped 17%. The pandemic was a cause, but not the only factor.