India

New Delhi, Dec 11 (IANS) Indian pharmaceutical companies, which benefited from sector tailwinds such as stable generic pricing and shortage-led opportunities and stable costs of raw materials in the past 18-24 months, will make further progress in differentiated and complex generics in the US market in 2025, a report showed on Wednesday.

According to a note by HSBC Global Research, these tailwinds are projected to continue in 2025 as well given that “we don’t see major changes on the demand-supply dynamics.”

“In 2025, we assume Indian companies will make further progress in differentiated/complex generics (peptides, inhalers) in the US with the potential launches of gAbraxane, gAdvair inhaler and peptides, etc,” according to the note.

Progress in complex generics and biosimilars will likely remain in focus as they will be crucial in navigating gRevlimid fall and sustain growth.

Amid the tailwind of steady generic pricing, “we believe the execution of key launches (gAbraxane for Cipla) will determine the course of the US sales in 2025.”

According to HSBC, Indian companies will start their journey in GLP-1 drugs with the launch of generic liraglutide (though generics for new-gen GLP-1 drugs are distant in the US).

“We assume the Indian pharma market (IPM) continues to grow by high-single digits, led by price increase and new launches,” it added.

In other markets too (India and emerging market), companies continue to focus on differentiated opportunities such as OTC products, biosimilars and patented products.

For India's formulations business, the global research firm assumed that the broader Indian pharma market (IPM) grows at a high single digit range.

“The growth contributions from price hikes (4-6 per cent) and new launches (2-3 per cent) should remain steady. We assume contribution from volume growth to largely stay in the low single digit range,” said HSBC.

Earlier this month, the Union government approved a financial outlay of Rs 15,000 crore for the Production Linked Incentive (PLI) scheme for pharmaceuticals, aimed at boosting domestic manufacturing.

--IANS

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Guwahati, Dec 11 (IANS) Assam Congress President Bhupen Borah said on Wednesday that the party will hold a three-day meeting to review its debacle in the state by-elections.

He told reporters here, "On December 13-15, we will have an in-depth discussion in Guwahati where the officer bearers from block and district will attend a meeting. We will take ground reports for the loss in the recently concluded by-election to five seats. Once our review meeting is over, I will be in a position to tell what went wrong."

He said, "The party has started preparations for the Panchayat elections. We will try to field candidates with a good image among the public."

Borah said, "Congress is always in favour of uniting all opposition forces to take on the BJP. But now as the Panchayat polls are knocking on the doors, we can discuss that after the election. The other opposition leaders like Akhil Gogoi must be very busy in his constituency for the Panchayat polls."

Earlier, Akhil Gogoi, the Sivasagar MLA said that an alliance with the Congress can be formed only if the seat-sharing pact was sealed before the polls.

"Congress must decide how many seats they want to fight the polls. They keep these things pending till the election dates are announced and at the last moment, they announce their candidates in most of the seats," Gogoi said.

According to Gogoi, to oust the BJP from power, all opposition parties, including Congress, must fight unitedly. This is the only way to defeat the ruling party in the next Assembly polls."

The Sivasagar legislator also warned that the Congress would put up a poor show if it decided to contest the Assembly polls alone.

"In the 2021 Assembly election, Congress got 26 seats but if they contest polls alone, they will hardly win six seats in the next polls," he said.

Congress drew a blank despite contesting all five seats that went to by-elections recently.

--IANS

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Parbhani (Maharashtra), Dec 11 (IANS) Large-scale mob violence, stray arson, stone-pelting, and vandalising public or private properties were witnessed during a shutdown call here to protest the desecration of a statue of B. R. Ambedkar, the chief architect of Indian Constitution, officials said here on Wednesday.

On Tuesday, some unknown miscreants had damaged a replica of the Constitution held aloft by the figurine outside the Parbhani railway station, triggering loud protests and violence there.

Furious over the slur to Ambedkar's statue, several local Dalit organisations took to the streets and called for a Parbhani bandh which evoked a near-total response since Wednesday morning.

The incident earned strong reactions from the Vanchit Bahujan Aghadi (VBA) President Prakash Ambedkar, Maha Vikas Aghadi (MVA) allies, Congress' senior leader Vijay Wadettiwar, Nationalist Congress Party (SP)'s state President Jayant R. Patil, Shiv Sena (UBT) Spokesperson Kishore Tiwari and other leaders.

Most shops, commercial establishments, and educational institutions remained shut for the day as crowds of protestors were seen roaming in different parts of the town, raising slogans praising Ambedkar and denouncing the incident that raised state political temperatures, ahead of the Winter Session of the Legislature opening in Nagpur on December 16.

Mobs pelted stones near the Collectorate office on some vehicles, burnt rubber tyres or heaps of garbage on the roads, and moved around wielding sticks, rods, or stones even as additional security reinforcements were rushed to assist the local police.

Hoping to control the unruly mobs, on at least one occasion the police resorted to mild caning or bursting teargas shells, and in several localities, they chased the groups of protestors to prevent them from wreaking more damage.

As a precaution, the police and administration appealed to the people not to succumb to rumours, remain calm and even cut off the Internet in the city, even as the police swooped in to detain one suspect reportedly involved in the insult to the statue.

Contingents of armed policemen and other forces were stationed at strategic locations in and around the city, and security has been beefed up in other sensitive districts elsewhere in the state.

"The vandalisation of the Constitution of India on Babasaheb's statue by casteist miscreants in Parbhani is absolutely very shameful, to say the least. It is not the first time such a vandalism of Babasaheb's statue or symbol of Dalit identity has happened," said Prakash Ambedkar.

Condemning the incident, Wadettiwar said that the defacement of the statue has sparked tensions in Parbhani and wondered "why the police and administration failed to curb it immediately when it came to their notice".

Patil flayed the incident and rued how "apathy is increasing in our society" with such slurs coming to light.

"There are no words enough to condemn this dishonour. The MVA has been campaigning for the past five years to save Democracy and Constitution, but now, certain vested elements are targeting the icon of the masses, Ambedkar's statue in such a shameless manner," said Tiwari.

Appealing to the masses to maintain peace, Ambedkar pointed out how the VBA's local workers first reached the scene and protested after which the police took note, lodged an FIR, and nabbed one suspect in the case, but he warned that if "all those responsible are not arrested within 24 hours, there will be consequences".

"The situation got out of hand as there was a lack of immediate action by the police. The government must give confidence to the people that the matter will not escalate further. I appeal to the Constitution lovers and the public to maintain their cool and cooperate with the masses," urged Wadettiwar.

Patil demanded action on such miscreants who attempted to provoke public sentiments, while Tiwari accused the ruling MahaYuti of failing to even form a Cabinet and now continues to fiddle while Parbhani burns.

(Quaid Najmi can be contacted at qnajmi@gmail.com )

--IANS

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New Delhi, Dec 11 (IANS) A day ahead of the crucial hearing in the Supreme Court on pleas challenging the validity of the Places of Worship Act, 1991, the Committee of Management of Mathura’s Shahi Masjid Eidgah, on Wednesday, filed an intervention application, saying that the law was enacted by Parliament in the interest of the country's progress, which has stood the test of time for more than 33 years.

The application said that the validity of the law, prohibiting the alteration of religious places of worship as they stood on August 15, 1945, has been upheld by a Constitution Bench of the Supreme Court in M. Siddiq (D) Thr. Lrs. vs. Mahant Suresh Das & Ors. case.

It added that Parliament, in the exercise of its powers and in the interest of the forward progress of the country, had enacted the 1991 Act, which has stood the test of time for more than 33 years and the petitioners have chosen to challenge the enactment belatedly, after 29 years.

Further, it said that the adjudication of the petitions against the Places of Worship Act is likely to have a significant bearing on the adjudication of its special leave petitions pending before the apex court against the dismissal of their application filed under Order VII Rule 11 of the CPC (Code of Civil Procedure) and the pending suits against the applicant mosque committee.

The application said that the mosque committee is party to 17 different suits being tried by the Allahabad High Court, where the plaintiffs have staked a claim over the entire parcel of land over which the Shahi Masjid Eidgah has been built, and have further sought the removal of the mosque structure from the said land, claiming the same to have been built over Krishna Janm Sthan.

"It would be in the interest of justice if the applicant (mosque committee) is allowed to intervene and assist this Hon’ble Court in the adjudication of the issues (relating to the validity of Places of Worship Act, 1991)," the application said.

The Supreme Court has notified a 3-judge Special Bench to hear a clutch of petitions challenging the validity of certain provisions of the Places of Worship (Special Provisions) Act, 1991.

As per the causelist published on the website of the apex court, a special bench headed by CJI Sanjiv Khanna and comprising Justices Sanjay Kumar and K.V. Vishwanathan will hear the matter on December 12.

A similar application has been moved by the Managing Committee of Varanasi's Gyanvapi Mosque before the top court, saying that the consequences of declaring the 1991 Act unconstitutional are bound to be drastic and will obliterate the rule of law and communal harmony.

The mosque committee said that an Article 32 petition challenging a legislative enactment must indicate the unconstitutionality of the provisions based on constitutional principles and the rhetorical arguments seeking a sort of retribution against the perceived acts of previous rulers cannot be made the basis for a constitutional challenge.

"The Parliament, in its wisdom, enacted the legislation as a recognition of secular values of the Constitution. The applicant humbly submits that while this Hon'ble Court considers this challenge to the 1991 Act, the petition may be dismissed as being devoid of merits," the application had added.

--IANS

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Mumbai, Dec 11 (IANS) Indian frontline indices closed on a flat note on Wednesday as investors are waiting for November CPI (Consumer Price Index) data, which will be released by the government on Thursday.

At closing, Sensex was up 16 points at 81,526 and Nifty was up 31 points at 24,641.

The broader market trend was positive. On the Bombay Stock Exchange (BSE), 2143 shares closed in the green, 1,839 settled in the red and 113 shares closed without change.

Among the sectoral indices, Auto, IT, Fin Service, pharma, FMCG, metal and realty were top gainers and PSU Bank, media, energy and pvt bank were top laggards.

Midcap and smallcap stocks outperformed the largecap in the trading session. Nifty midcap 100 index closed at 59,292, up 157 points or 0.27 per cent and Nifty smallcap 100 index closed at 19,657, up 74 points or 0.38 per cent.

According to the market experts, "The Indian market exhibited subtle movements, reflecting mixed sentiments prevailing in global markets ahead of the US CPI inflation data release, which could influence the FED policy. The US dollar strengthened, while bond yields saw a marginal uptick."

"Defensive sectors, including FMCG and pharmaceuticals, experienced an uptick. Additionally, the metals sector saw gains driven by optimism surrounding potential stimulus measures from China," they added.

In the Sensex pack, Bajaj Finance, Nestle India, Bajaj Finserv, Asian Paints, UltraTech Cement, Infosys, Maruti, Bharti Airtel and Hindustan Unilever were the top gainers. JSW Steel, NTPC, SBI, Reliance, Tech Mahindra, Axis Bank and Titan were the top losers.

Foreign institutional investors (FIIs) extended their buying on December 10, buying equities worth Rs 1,285.96 crore, while domestic institutional investors also bought equities worth Rs 605.79 crore on the same day.

The market opened at a flat note. At around 9.27 a.m., Sensex was trading at 81,515.06 after gaining 5.01 points or 0.01 per cent, while the Nifty was trading at 24,623.8 after rising 13.75 points or 0.06 per cent.

--IANS

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Chennai, Dec 11 (IANS) The Madras High Court has dismissed a case challenging the conduct of elections to the Chennai Press Club.

On Wednesday, Justice G. Jayachandran, a single-Bench judge, declined to entertain a suit filed by T.M. Viswanaath, a member of the Chennai Press Club.

The elections, scheduled for December 15, will take place after a 25-year gap, the last being held in 1999.

The elections aim to select a complete set of new office-bearers, including a president, two vice presidents, a general secretary, a treasurer, two joint secretaries, and five committee members.

Only primary members of the club are eligible to contest and vote in the elections.

Justice Jayachandran advised the plaintiff to approach the court after the declaration of results if he remained dissatisfied with the election process.

The elections are being conducted under the supervision of a Special Guidance Committee (SGC).

The 12-member SGC, led by veteran journalist N. Ram, had earlier constituted a subcommittee to finalise the list of members and appointed retired High Court Judge, V. Bharathidasan as the Election Officer.

The plaintiff sought to restrain the subcommittee from enrolling fresh members to the club.

However, P. Wilson, Senior Counsel representing the club, argued that the elections were being held after several years, and some individuals were attempting to block the process.

He noted that this group had been occupying the club for a long time.

Wilson further stated that the plaintiff had not challenged the election notification or the finalised voter list, and under such circumstances, the court could not grant an injunction against the polls.

Senior Counsel R. Singaravelan, representing another Chennai Press Club member who opposed the plea, emphasised that the elections, being conducted after decades, should not be obstructed.

Justice Jayachandran dismissed the case and clarified that the election process could proceed uninterrupted.

He added that any grievances could be raised in court after the elections and the announcement of results.

--IANS

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Kolkata, Dec 11 (IANS) Two notorious Mumbai-based fraudsters engaged in extorting money from people posing as cops of the cybercrime division of Delhi Police were arrested from a hotel at Sealdah in central Kolkata on Wednesday.

The two accused have been identified as Vinode Kovinda Pawar and Dhanji Jagannath Shinde and are residents of Mumbai.

The arrests were made following a recent complaint by a city-based woman to the Charu Market Police Station in South Kolkata.

As per the complaint, the two approached her posing as cops of the cybercrime division of Delhi. They informed her of several serious cases registered against her with Delhi Police and threatened to arrest her.

The woman panicked and thereafter the two fraudsters gave an offer to her to settle the matter against a hefty amount. The woman in panic started transferring the money demanded by the two accused to their bank accounts.

After having paid a hefty sum of Rs 66 lakh with the demands for more money from the two accused persons continuing, she contacted the Charu Market police station.

The cops of the city police immediately contacted their counterparts in Delhi Police and came to know that no such case had been registered there against the women concerned.

Thereafter, the cops started tracking the SIM numbers of the mobile phones from where calls were made to the woman. Finally, the two were arrested from a hotel at Sealdah.

The police have also been able to track the money that the women paid into an account with a private bank registered in the name of the Shinde. The police have also seized mobile phones, SIM cards and bank documents from the possession of the two arrested.

Kolkata Police have again alerted the citizens of this new trend of crime where innocent people are being tapped by fraudsters posing as cops or CBI or NCB officials. The advice of the city police for the citizens is not to panic about such calls and immediately contact the local police station.

--IANS

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Karwar (Karnataka), Dec 11 (IANS) A shocking incident has been reported from Murudeshwar coastal town in Karwar district of Karnataka, where four girl students on an educational trip drowned in the sea. The state government announced a compensation of Rs 5 lakh for the family of each deceased girl on Wednesday.

The girls were swept away by strong currents while playing at Murudeshwar beach on Tuesday evening. Authorities managed to rescue four girls initially, and a search is underway for others. The deceased have been identified as 15-year-old Deeksha, Lavanya, Vandana, and Shravanthi.

Deeksha, Lavanya, and Vandana’s bodies were found on Wednesday morning. Shravanthi was rescued immediately after the incident on Tuesday but later succumbed to her condition. Two other students were successfully rescued by the authorities, and rescue operations continued to locate the remaining students.

The deceased were students of Morarji Desai Residential School in Kottur village near Mulbagal town in Kolar district. Including teachers, a total of 57 people were on the academic tour. The strong sea currents pulled the girls away while they were playing on Murudeshwar beach.

It is alleged that negligence on the part of the teachers and the tourism department contributed to the tragedy.

Karnataka Chief Minister Siddaramaiah has expressed shock over the incident and announced compensation while paying his condolences over the tragedy.

Siddaramaiah stated, “I was shocked to learn the news of the students from the Morarji Desai Residential School in Mulbagal Taluk, Kolar District, who drowned in the sea near Murudeshwar during an educational trip. I pray for peace for the departed souls and offer my condolences to the grieving parents of the children.”

“The state government will provide compensation of Rs 5 lakh each to the families of the four students who died in this tragic incident. I have instructed the Deputy Commissioner of Uttara Kannada district to make arrangements to transport the bodies to their hometowns,” Siddaramaiah stated.

CM further cautioned, “Teachers must exercise greater caution while supervising children during trips. When visiting dangerous locations, special care should be taken to monitor the children. I can understand the grief and pain of the parents who have lost their children. I pray that such tragedies never happen again.”

--IANS

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Hyderabad, Dec 11 (IANS) Distressed over financial losses and debt burden, three members of a family in Telangana's Mancherial district died by consuming pesticide while the fourth was battling for life.

The family resorted to the extreme step at their residence at Kasipet village in Thandur mandal of Mancherial district in the early hours of Tuesday. Three of them succumbed at Mahatma Gandhi Memorial (MGM) Hospital in Warangal on Wednesday.

Samudrala Mondia (60), his wife Sridevi (50), daughter Chitti (30) and son Shiva Prasad (26) consumed pesticides in a suicide pact at their residence.

Hearing screams the neighbours alerted Emergency Health Service 108. The family was shifted to the government hospital at Bellampalli and from there to Mancherial. As their condition turned critical, they were later taken to MGM Hospital in Warangal.

However, Mondia, Sridevi and Chitti succumbed on Wednesday. Shiva Prasad was undergoing treatment and his condition remained critical.

According to villagers, Mondia ran a small 'kirana' (grocery) shop at his house and delivered milk packets. Prasad was working as a lab technician but quit the job to start investing in the share market. He had borrowed money from different sources. Due to heavy losses in online trading, he ran away from the house a year ago. Two months later, he attempted suicide by jumping into Prakasam Barrage in Vijayawada. However, the police rescued him and sent him home.

Unable to bear the pressure from financiers to pay the debt, the family members took an extreme step.

Mondia had reportedly informed his relatives about the suicide attempt. Though the relatives rushed to the house to dissuade them, they had already consumed soft drinks mixed with pesticides.

Police have registered a case and begun the investigation.

--IANS

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Bhopal, Dec 11 (IANS) While the BJP-led government has prepared plans to celebrate one year in office in Madhya Pradesh, the Opposition Congress has sharpened its attack on Chief Minister Mohan Yadav and will hold a protest on December 16.

Madhya Pradesh Congress has criticised CM Yadav's plan to organise a fortnight-long programme called 'Jan Kalyan Parv' to highlight the development works undertaken in the past year.

Terming the BJP government's programme -- 'Jan Kalyan Parv' as a 'publicity stunt', the Congress said when the state was already reeling under huge financial debt of more than Rs 4 lakh crore, public money should not be wasted for 'useless' events.

Veteran Congress leader and former Madhya Pradesh Chief Minister Kamal Nath said that the so-called 'Jan Kalyan Parv' is being started in the state, but the people of Madhya Pradesh want to know about the promises made by BJP during the elections which have not been fulfilled till date. "So, what is the need for new promises?' said Kamal Nath.

"Therefore, you (CM Mohan Yadav) are requested that instead of wasting people's hard-earned money on useless events and event planning, use it for real public welfare, not for paper welfare," he said.

The MP Congress is also preparing for a mega protest to corner CM Mohan Yadav-led BJP government on December 16. The party's state unit chief, Jitu Patwari has appealed to all Congress workers and leaders to join the protest in Bhopal.

Notably, the winter session of the Madhya Pradesh Legislative Assembly is also set to commence on December 16. During the five-day session, the state government is likely to present its supplementary budget.

Chief Minister Mohan Yadav will complete one year in office on December 13.

After the resounding victory in the state Assembly election held on November 17, 2023, the BJP's central leadership replaced former CM Shivraj Singh Chouhan with Mohan Yadav.

Three-time BJP MLA from temple town Ujjain, Mohan Yadav took oath as the Chief Minister of the state on December 13, 2023. Chouhan, elected as Lok Sabha MP from Vidisha, is the Union Agriculture Minister in Prime Minister Narendra Modi's cabinet.

The BJP secured victory in Madhya Pradesh by claiming 163 seats out of the 230-member Assembly. Congress was reduced to 66 against 114, which it had won in the 2018 Assembly elections.

--IANS

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