<keyword id="19914246" type="General" weightage="20" keywordseo="Zydus-Lifesciences" source="keywords" meta.keywordsubtype="org" meta.entityname="Zydus Lifesciences" meta.hostid="261" meta.entityid="Zydus Lifesciences">Zydus Lifesciences</keyword> on Friday said its consolidated <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> surged four-fold to Rs 1,182 crore for the fourth quarter ended March 31, 2024 on higher sales. The drug firm had reported a net profit of Rs 297 crore in the January-March quarter of the 2022-23 fiscal. Revenue from operations rose to Rs 5,534 crore in the period under review from Rs 5,011 crore in the year-ago period, Zydus Lifesciences said in a statement. For the year ended March 31, 2024, the company reported a consolidated net profit of Rs 3,859 crore as compared with Rs 1,960 crore in FY23. Revenue from operations rose to Rs 19,547 crore from Rs 17,237 crore in the 2022-23 fiscal. "Our relentless focus on patient centricity, operational efficiency, strategic investments, and execution of our diversified product portfolio continues to pay off, resulting in a significant improvement in profitability as well," Zydus Lifesciences MD Sharvil Patel said. The company said its board has approved a final dividend of Rs 3 per equity share of Re 1 each, subject to approval of the shareholders. Shares of the company ended 4.28 per cent up at Rs 1,051.90 apiece on the BSE. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a><a href="https://www.businessinsider.in/india/news/average-housing-prices-up-10-in-jan-mar-across-the-top-eight-cities/articleshow/110181627.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/average-housing-prices-up-10-in-jan-mar-across-the-top-eight-cities/articleshow/110181627.cms" target="_blank">Average housing prices up 10% in Jan-Mar across the top eight cities</a><a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-fusion-with-144hz-poled-display-500mah-battery-launched-starting-at-22999/articleshow/110170762.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-fusion-with-144hz-poled-display-500mah-battery-launched-starting-at-22999/articleshow/110170762.cms" target="_blank">Motorola Edge 50 Fusion with 144Hz pOLED display, 5,00mAh battery launched starting at ₹22,999</a>

Zydus Q4 net profit surges 4-fold to ₹1,182 cr; revenue at ₹5,534 cr

New Delhi, <keyword id="13247465" type="General" weightage="20" keywordseo="Zydus-Lifesciences" source="Orion">Zydus Lifesciences</keyword> Ltd on Friday reported over two-fold rise in consolidated net profit at Rs 1,086.9 crore for the first quarter ended June 30, 2023 driven by strong sales growth from US formulations. The company had posted a net profit of Rs 518.3 crore for the same quarter last fiscal, Zydus Lifesciences said in a regulatory filing. Revenue from operations during the quarter under review stood at Rs 5,139.6 crore as against Rs 3,964.4 crore in the year-ago period, up 29.6 per cent. India geography clocked sales of Rs 1,920.6 crore in the first quarter as compared to Rs 1,816.7 crore in the corresponding period a year ago. Sales from US formulations were at Rs 2,454.1 crore as compared to Rs 1,559.2 crore in the same quarter a year ago, up 57.4 per cent, the company said. Active pharmaceutical ingredients clocked sales of Rs 138.9 crore in the first quarter as against Rs 122.4 crore in the corresponding quarter last fiscal, it added. During the quarter, the company witnessed a broad-based operational growth in its key businesses and a favourable product mix enhanced profitability, Zydus Lifesciences Managing Director Sharvil Patel said. "Strong execution and volume offtake drove revenue ramp-up in the US, while the India branded formulations business, adjusting for NLEM (national list of essential medicines) impact delivered solid 12 per cent growth," he added. On the outlook, he said,"We remain reassured on achieving profitable growth aspirations for the fiscal year and thereby enhance stakeholder value."

Zydus Lifesciences Q1 2023-24 profit up 2-fold at Rs 1,087 cr

<img class="gwt-Image" src="/photo/47369669.cms" />Surpassing its domestic and global peers, Cadila Healthcare has come up as the frontrunner to acquire the generic sterile injectables business of Ahmedabad-headquartered <keyword id="356962" type="COMPANY" weightage="80" keywordseo="Claris-Lifesciences-Ltd">Claris Lifesciences Ltd</keyword> (CLL). 
 
As per sources, the last minutes negotiations are underway between the both companies, including tax and other financial matters. A formal announcement is expected next month as the deal has not yet closed. 
 Cadila Healthcare, the <keyword id="270579" type="COMPANY" weightage="80" keywordseo="Zydus-Cadila-Group">Zydus Cadila Group</keyword> flagship, is likely to pay a significant premium, valuing the company between Rs 3,100 crore - Rs 3,400 crore. 
 
For 12 months ending December 31, 2014, Claris Lifesciences business reported revenues of Rs 405.6 crore and EBITDA of Rs 149.4 crore (37% EBITDA margin). 
 
Presently, the market cap of parent Claris Lifesciences including all the different businesses is Rs 1,793 crore. 
 
The Cadila Healthcare spokesperson told ET, as a matter of policy, the company does not comment on market speculation. A Claris spokesperson however denied any such development. 
 
Economic Times in February first reported about the business being put on the block. 
 
The financial daily reported the possible deal underscores amplified interest in the business in the backdrop of a global shortage of injectables -- drugs that are delivered through vials, syringes and bags, as well as pumps. The supply problems have driven many transactions both in India and overseas, including Pfizer's $17 billion takeover of Hospira, earlier this year. 
 
Pankaj Patel-led Cadila had competition from domestic rivals like Lupin who were also pursuing the opportunity to buy the asset, but valuations apart, comfort between the two Gujarat based entrepreneurs is said to have provided extra comfort to Arjun Handa, the promoter, vice-chairman &amp; managing director of CLL. 
 
ET reported both Patel and Handa are from Ahmedabad and have been old industry associates. Even global players like Pfizer, Amneal and Novartis, among others, were initially in the fray, added sources. 
 
One of the sources told ET, if talks with Cadila breaks down at the wire then the prospects of Lupin, another potential contender, to walk away with the asset could improve considerably. 
 
Cadila, among the top five pharmaceuticals companies in the country in terms of revenues --- these amounted to Rs 8,651 crore for year ended 31 March 2015 ---has been acquisitive for a while having executed 17 M&amp;A deals since 1995. 
 
(Image: Indiatimes)

Cadila Healthcare trumps peers, in talks to acquire Claris Lifesciences for whooping Rs 3,400 crore

<ul><li><keyword id="4764339" type="General" weightage="20" keywordseo="drug-shortages" source="Orion">Drug shortages</keyword>, channel realignment and woes of competitors to aid US business of <keyword id="58106" type="General" weightage="20" keywordseo="indian-pharma" source="Orion">Indian pharma</keyword> cos.</li><li>Dr Reddy’s, Cipla, Zydus and Sun Pharmaceuticals gained from sales of generic cancer drugs in the US.</li><li>US FDA inspections are in full swing and the accelerating pace of new launches will improve outlook for US business in FY24, say analysts. </li></ul>The Indian pharma sector has gone through many ups and downs in the last few years – like falling from a Covid-high last year, adding to pricing pressures in its most important market. In the first quarter of FY24 however some of the US market pricing pressures are easing, making up for the slump in domestic sales. “Q1 FY24 turned out to be a tale of two divergent performances as US delivered across the board beat while domestic business, specifically acute, saw weakness in June. Price erosion came in at high single digit in US versus mid-teens last year reflecting in better US revenue growth and profitability,” said a report by YES Securities. Drug shortages, channel realignment and financial as well as regulatory woes of competitors seems to have helped curb US market price erosion in Q1 on a quarter-on-quarter, say analysts. The US market has been dented in the last few years for many reasons including pricing pressures — like supply chain disruptions, and a massive delay in approval of Abbreviated New Drug Applications (ANDAs) leading to fewer generic launches in the US. However, the ability to launch the generic version of a cancer drug gRevlimid in the US abated some of the concerns. Dr Reddy’s generated sales to the tune of $125 million from this generic in Q1 while Cipla, Zydus and Sun Pharmaceuticals reported gRevlimid sales between 40-60 million. “We believe the earnings support from gRevlimid is expected to drive the US base business and abate pricing pressure for the coming two years. Moreover, US FDA inspections are in full swing and the accelerating pace of new launches will improve outlook for US business in FY24,” J M Financial. Lupin and Zydus Life benefitted from exclusive launches of gSuprep and gTrokendi. Darunavir and gSpiriva are other drugs in the pipeline that can boost North America sales of Indian pharma companies. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth levers ahead </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Specialty performance </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revlimid contribution to sustain in 2Q </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zydus Lifesciences </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Near-term US outlook promising </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">US base biz at $210- 215 mn hereon: mgmt </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lupin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Attractive launch pipeline </td></tr></tbody><tbody></tbody><tbody></tbody></table>Source: J M Financial Sun shines in the <keyword id="6382118" type="General" weightage="20" keywordseo="domestic-market" source="Orion">domestic market</keyword> The domestic <keyword id="101756" type="General" weightage="20" keywordseo="pharma-market" source="Orion">pharma market</keyword> seems to see the after-effects of a delayed monsoon, which led to weakness in acute therapies like gastroenteritis which aids seasonal sales in Q1. This trend impacted key players like Dr Reddy’s, JB Chemicals and Alkem. Alkem however said that there has been no change in domestic sales even in July, August is expected to provide some quality on the same. Sun Pharma, however, is an outlier with a good performance in the domestic business as it boosted its sales strength along with new launches. It launched 105 new products in FY23 as compared to 77 new launches the year before. “Sun’s India business has grown at 11% compounded annual growth rate (CAGR) over FY20-23, driven by volume, price and new launches. We expect Sun’s India business to grow at around 10% CAGR over FY23-26,” said a report by IIFL Securities. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[<blockquote class="stocktwits-embedded-post" data-origin="https://stocktwits.com" data-id="542437467"> $NIFTYPHARMA.NSE Index gave a breakout at at 14900 and retested the same, now ready for a upmove to 15800. Stock to watch for with bullish structures are $CIPLA.NSE $LUPIN.NSE &mdash; (@DhwaniTA) <a href="https://stocktwits.com/DhwaniTA/message/542437467"> August 28, 2023</a></blockquote><script async src="https://stocktwits.com/min/widgets.js" charset="utf-8"></script>]]></cdata></div>

US outlook improves for Indian pharma but domestic market under the cloud

<ul><li>India’s equity markets edged lower in morning trade on Wednesday amid negative cues in global markets as the debt ceiling talks continue in the US. </li><li>The indices were dragged down by IT majors Infosys, Wipro and HCL Tech, apart from realty stocks. </li><li>Both <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> were down by 0.1% in morning trade, with Sensex hovering at 61,855 points and Nifty50 at 18,272 points.</li></ul>India’s equity markets edged lower in morning trade on Wednesday amid negative cues in global markets as the debt ceiling talks continue in the US. The indices were dragged down by IT majors Infosys, Wipro and HCL Tech, apart from realty stocks. Both Sensex and Nifty50 were down by 0.1% in morning trade, with Sensex hovering at 61,855 points and Nifty50 at 18,272 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.23% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.82% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharat Petroleum </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.63% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.81% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.06% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.74% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.04% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.72% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.99% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.71% </td></tr></tbody></table> Source: NSE, as on May 17, 2023 Earlier on Monday, both the indices ended on a negative note amid heightened volatility in equity markets around the world – both Sensex and Nifty50 closed the day with a decline of 0.6%. Gold and silver prices edged lower, with gold at ₹60,200 per 10 grams while silver was hovering at ₹72,600 per kilogram. Crude oil prices edged up, with Brent crude hovering at $75 per barrel. <cmsannotation type="cmsannotation" annotationid="Debt ceiling talks weigh down equity markets" comment="subhead" text="Debt ceiling talks weigh down equity markets">Debt ceiling talks weigh down equity markets</cmsannotation> Amidst an ongoing debt ceiling debate in the US, investor sentiments remained volatile around the world. While the Dow Jones closed 1% down on Tuesday, S&amp;P 500 shed 0.64%. The tech-heavy Nasdaq declined 0.18%. Asian markets were mixed, with Taiwan Weighted gaining 1.13%, followed by Nikkei 225 which was up 0.65% and KOSPI which was 0.55% in the green. Hang Seng was down 0.33%, while Shanghai Composite was trading 0.11% lower. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Bharti <keyword id="15491" type="General" weightage="20" keywordseo="airtel" source="Orion">Airtel</keyword>: The automaker reported a 50% on year rise in net profit at ₹3,006 crore for March quarter while revenue rose 14% on year to ₹36,009 crore. For FY23, Airtel’s net profit nearly doubled to ₹8,346 crore. <keyword id="6367820" type="General" weightage="80" keywordseo="adani-group" source="Orion">Adani Group</keyword>: The Supreme Court on Wednesday will hear a batch of public interest litigations (PILs) seeking an investigation into the <keyword id="76451" type="General" weightage="80" keywordseo="adani" source="Orion">Adani</keyword> Group - Hindenburg report issue. Infosys: The IT major has bagged a deal from energy company BP to be their primary partner for en-to-end application services. As per reports, the deal size is $1.5 billion making it a mega deal at a time when the industry has been facing several headwinds. Tata Consumer Products: The company will delist its global depository receipts (GDRs) from the London Stock Exchange and Luxembourg Stock Exchange from June 23 this year. Jindal Steel and Power: The steelmaker has reported a 69% decline in net profit at ₹462 crore for March quarter from ₹1,511 crore last year due to higher expenses. Revenues also fell 4% on year to ₹13,691 crore. Earnings today: Jindal Saw, <keyword id="95677" type="General" weightage="100" keywordseo="jubilant-foodworks" source="Orion">Jubilant Foodworks</keyword>, JK Tyre &amp; Industries, Teamlease Services, Sterlite Technologies, Endurance Technologies, SKF India, Honeywell Automation India, Devyani International, Timken India, Zydus Wellness, MTAR Technologies, Railtel Corporation of India, Eris Lifesciences among companies to release its March quarter earnings today.

Sensex, Nifty50 edge lower in morning trade, dragged by Infosys, Wipro and realty stocks

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> surged in morning trade on Thursday amid positive cues in global markets. </li><li>The gains were led by stocks in the banking and metal sectors. </li><li>Both Sensex and Nifty50 were up by 0.3%, with Sensex hovering at 61,742 points and Nifty50 at 18,230 points.</li></ul>India’s benchmark indices Sensex and Nifty50 surged in morning trade on Thursday amid positive cues in global markets. The gains were led by stocks in the banking and metal sectors. Both Sensex and Nifty50 were up by 0.3%, with Sensex hovering at 61,742 points and Nifty50 at 18,230 points. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.43% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi's Laboratories </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.24% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.21% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports &amp; SEZ </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.64% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.07% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.91% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Life </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.90% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.77% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.78% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.69% </td></tr></tbody></table> Source: NSE, as on May 18, 2023 Earlier on Wednesday, markets lost momentum and closed the day in the red as metals, realty and IT stocks dragged the indices down. Gold prices edged lower to ₹60,100 per 10 grams while silver was hovering at ₹72,700 per kilogram. Crude oil prices edged up, with Brent crude hovering at $77 per barrel. <cmsannotation type="cmsannotation" annotationid="Optimism on debt ceiling drives markets up" comment="subhead" text="Optimism on debt ceiling drives markets up">Optimism on debt ceiling drives markets up</cmsannotation> Optimism about the US revising the debt ceiling upwards and not defaulting drove the US markets on Wednesday. While the Dow Jones closed 1.24% up on Wednesday, S&amp;P 500 gained 1.19%. The tech-heavy Nasdaq rallied 1.28%. Asian markets were in the green on Thursday morning, with Nikkei 225 gaining 1.44%, followed by Hang Seng which was up 1.42%. Taiwan Weighted rallied 1.1%, followed by Shanghai Composite which was up 0.66%, while KOSPI gained 0.54%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Earnings today: <keyword id="13222" type="General" weightage="20" keywordseo="sbi" source="Orion">SBI</keyword>, <keyword id="6357073" type="General" weightage="20" keywordseo="itc" source="Orion">ITC</keyword>, InterGlobe Aviation, Tata Elxsi, GAIL India, United Spirits, Zydus Lifesciences, Ramco Cements, PI Industries, Gland Pharma, Bata India, RITES, PNB Housing Finance, Syrma SGS Technology, Clean Science and Technology, Thomas Cook (India) and Ujjivan Financial Services are among companies to release their quarterly earnings today. <keyword id="6357149" type="General" weightage="20" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword>, HDFC: The RBI has approved asset management company SBI Funds Management’s proposal to acquire 9.99% stake in HDFC Bank. Currently, the AMC holds 5.07% stake in HDFC Bank and 3.79% stake in HDFC. Adani Group: The investment arm of Goldman Sachs Group reduced its exposure to Adani Group drastically in its ESG portfolios in the weeks following allegations of fraud by Hindenburg Research, as per Bloomberg report. Devyani International: The company which has the franchisee of KFC, Pizza Hut, reported a 20% fall in its net profit at ₹60.7 crore in March quarter while revenue rose 28% to ₹755 crore. PVR Inox: Following merger, the multiplex operator PVR Pictures has been renamed as PVR INOX Pictures. The merged entity operates 361 cinemas with 1,689 screens across 115 cities till FY23 in India and Sri Lanka. Vedant Fashions: Ravi Modi Family Trust, a promoter entity in the clothing brand Manyavar, has launched an offer for sale to slash its shareholding by 9.88%. The floor price for the OFS will be ₹1,161 per share, which is at a discount of 6.84% against the last closing price.

Sensex, Nifty50 surge in morning trade led by banking and metal stocks

<ul><li>Remdesivir has little or no effect on hospitalised COVID-19 patients, according to a new study by the World Health Organisation (WHO).</li><li>When coronavirus pandemic initially broke, it emerged as one of the most preferred treatments for the disease around the world.</li><li>In July, Gilead released further data suggesting that Remdesivir <a href="https://www.ft.com/content/978b4f8a-62b5-43a0-ad32-dda1930ec47c">may improve chances of survival among COVID-19 patients.</a> However, these findings were not confirmed by a randomised controlled trial until now. </li><li>Even before WHO’s study, a Lancet report <a href="https://www.businessinsider.in/science/health/news/remdesivir-the-coronavirus-miracle-drug-may-be-overhyped-suggests-lancet-study/articleshow/75470476.cms">contradicted </a>Gilead’s claims indicating that the drug may not be the most ‘promising’ treatment for coronavirus.</li><li>Not just Remdesivir, no repurposed drug or combination including Hydroxychloroquine <a href="https://www.nytimes.com/2020/10/15/health/coronavirus-remdesivir-who.html">reduced </a>chances of death of a COVID-19 patient, according to the <keyword id="808941" type="PERSON" weightage="20" keywordseo="WHO-study">WHO study</keyword>. </li></ul>Remdesivir, one of the earliest touted treatments for COVID-19 in the world, is not effective in preventing deaths of coronavirus patients, according to a study sponsored by the World Health Organisation study. The results of the study — <a href="https://www.ft.com/content/ee9b611f-2b4b-4572-afe1-b0b804d17a94">covering</a> over 2,700 people for Remdesivir across 30 countries — were posted online on October 15 and are not peer-reviewed yet. The researchers tried to treat a patient with Remdesivir for 10 days, where each patient received a 200 milligrams (mg) dose on the first day and 100 mg doses on subsequent days. “These Remdesivir, Hydroxychloroquine, Lopinavir and Interferon regimens appeared to have little or no effect on hospitalized COVID-19, as indicated by overall mortality, initiation of ventilation and duration of hospital stay,” noted the findings of the WHO’s Solidarity trial that was released on medRxiv. Gildead disagrees with WHO study Remdesivir was originally developed by Gilead Sciences to treat the Ebola virus and Hepatitis C. The company has so far <a href="https://www.nytimes.com/2020/10/15/health/coronavirus-remdesivir-who.html">refuted</a> all the claims made by the WHO study. It asserts that more rigorous studies have found Remdesivir beneficial. “The emerging data appear inconsistent with more robust evidence from multiple randomised, controlled studies validating the clinical benefit of (Remdesivir),” Gilead <a href="https://www.ft.com/content/ee9b611f-2b4b-4572-afe1-b0b804d17a94">said </a>in a comment. WHO has not made in public comment since the study is not public yet. Not just Remdesivir, no repurposed drug or combination including Hydroxychloroquine <a href="https://www.nytimes.com/2020/10/15/health/coronavirus-remdesivir-who.html">reduced </a>chances of death of a COVID-19 patient, according to the WHO study. WHO study brings bad tidings for Remdesivir producers Remdesivir is currently the only antiviral drug <a href="https://www.nytimes.com/2020/10/15/health/coronavirus-remdesivir-who.html">authorised </a>for treating COVID-19 in the US. It was taken by <a href="https://www.businessinsider.in/politics/world/news/trump-baselessly-says-he-may-be-immune-to-covid-19-after-being-hospitalized-and-treated-with-a-steroid-used-for-severe-cases/articleshow/78505594.cms">US President Donald Trump </a>when he was admitted to the hospital after testing positive for the virus. India’s Health Ministry too approved the use of the drug to treat mild cases of coronavirus. However, the drug is not recommended to treat those who have several renal impairments, pregnant and lactating women, children below 12 years age. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td colspan="3" style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cost of Remdesivir treatment in India </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brand </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cost of Therapy </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hetero </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Covifor </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹32,400 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipremi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹24,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jubilant Lifesciences </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JUBI-R </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹28,200 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cadila Healthcare </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Remdac </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹16,800 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mylan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Desrem </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹28,800 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy’s </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Redyx </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹32,400 </td></tr></tbody></table>Source:Nomura report dated October, 2020. There are six pharmaceutical giants in India — including Hetero Labs, Jubilant Lifesciences, Dr. Reddy’s Laboratories, Biocon firm Syngene and Zydus Cadila Healthcare — who have signed a non-exclusive agreement with Gilead to produce Remdesivir. The WHO study is likely to be a setback for all the pharmaceutical companies producing Remdesivir. The increasing number of cases in India drove the demand for Remdesivir. According to industry experts, Remdesivir was bringing in at least ₹6.5 million to ₹13 million in revenues per day at the current caseload. “Assuming 5% to 10% market share, we estimate current demand at 1,200 to 2,400 vials per day, which translates to ₹6.5 million to ₹ 13 million in revenues per day at the current caseload. We factor in ₹1.2 billion and ₹0.9 billion in sales from Remdesivir in FY21F and FY22F respectively,” a Nomura report dated October 2020 said. WHO isn’t alone in its skepticism of Gilead’s Remdesivir Remdesivir emerged as one of the most preferred treatments for COVID-19 — this new found disease that was threatening the world — largely driven by Gilead’s narrative. Even before WHO’s study, a Lancet report <a href="https://www.businessinsider.in/science/health/news/remdesivir-the-coronavirus-miracle-drug-may-be-overhyped-suggests-lancet-study/articleshow/75470476.cms">contradicted</a> the pharmaceutical giant’s claims indicating that Remedesivir may not be the most ‘promising’ treatment for coronavirus. It warned that Remdesivir provided no clinical benefits to patients who have tested for coronavirus. Despite the warnings, Gilead Sciences continue to claim Remdesivir as a plausible treatment for COVID-19. In July, Gilead released further data suggesting that it <a href="https://www.ft.com/content/978b4f8a-62b5-43a0-ad32-dda1930ec47c">may improve chances of survival. </a>However, these findings have not been confirmed by a randomised controlled trial until now. “What all of us would like to see is what is frequently called a ‘magic bullet’; a drug that’s already in existence, that is safe and works effectively in patients. Unfortunately, in this case, this trial at least suggests the benefits of Remdesivir weren’t there at all,” Julie Fischer, an associate research professor in the Department of Microbiology and Immunology at Georgetown University <a href="https://www.aljazeera.com/news/2020/10/16/who-trial-finds-repurposed-drugs-have-little-effect-on-covid-19">told Al Jazeera</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/chinas-covid-19-coronavirus-is-safe-prompts-antibody-response-says-a-lancet-study/articleshow/78696495.cms">China's COVID-19 coronavirus is safe, prompts antibody response, says Lancet </a>

You Searched For "Zydus Lifesciences revenue" and got 7 results

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Sensex, Nifty50 edge lower in morning trade, dragged by Infosys, Wipro and realty stocks

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Sensex, Nifty50 surge in morning trade led by banking and metal stocks

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Remdesivir drug fails to reduce mortality or hospital stay of COVID-19 patients, says WHO study

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