Biocon chairperson Kiran Mazumdar-Shaw says that venture capital firms have, with their risk-averse approach, "failed" the biotech sector in India. The executive draws attention to how "bold" venture funds that backed mRNA technology a decade ago were reaping gains today.

Cipla moves beyond in-licensing approach and teams up with CDMO Kemwell to develop and progress respiratory biosimilars. Commercialization of products anticipated post 2025.

Allergenic extract products, previously excluded, also will become part of the user fee program beginning in FY 2023.

Two SK Group affiliates benefit from COVID-19 vaccine manufacturing activities and US sales of novel drugs, while other factors such as a recovery in prescription sales, new launches and falling milestone payments affected results at other traditional South Korean pharma firms in the second quarter.