Weekly News 30 October - 03 November 2023
30 October 2023 - (Economic Times) DCGI to meet stakeholders soon to discuss improvements in clinical trials
In a bid to iron out issues and challenges faced during clinical trials in the country, the Drugs Controller General of India (DCGI) will meet key representatives from the pharma industry next month to understand areas of improvement in global clinical trials.
A meeting to be attended by representatives from the Indian Society for Clinical Research, Organisation of Pharmaceutical Producers of India (OPPI), Indian Pharmaceutical Alliance will be held on November 14. India's drug regulator has received several representations raising concerns on the processing of global clinical trial applications.
31 October 2023 - (Economic Times) WSB Real Estate plans to focus on South India, invested Rs 1,400 crore in the last decade
Alternative investment platform WSB Real Estate Partners plans to raise a new fund after completing deployment of its Rs 700-crore second fund over the next two months, said a senior executive. The firm, formerly known as Walton Street BlackSoil, will target the southern Indian growth markets, particularly Bengaluru, Hyderabad and Chennai, for the proposed fund, and deploy two-thirds of its capital in them, said Vimal Jangla, managing partner of WSB Real Estate Partners.
The investment will be through the structured debt route in residential real estate projects, serving the mid-income housing segment across select tier-I cities, he told ET. The company is looking to partner developers with robust execution and delivery track records. “Since 2013, we have invested over Rs 1,400 crore in the southern markets, of which we have exited over Rs 1,000 crore across 20 transactions,” said Jangla. “The southern market is very stable with demand driven by individual buyers, and the assets are more underwriteable in this market.”
01 November 2023 - (Economic Times) PM GatiShakti aids in planning 8,890 km of roads, 27,000 km rail lines in two years
India has planned around 8,890 kilometres of roads, 27,000 km of railway tracks and 920 km of petroleum and natural gas pipelines based on the PM GatiShakti National Master Plan (NMP), two years after it was launched. The platform has led to a sharp reduction in time taken by the road transport and highways ministry to prepare the detailed project report (DPR). The DPR preparation time is reduced to about 15 days from six months.
“In two years since its launch, PM GatiShakti has seen onboarding of central ministries and all states and UTs (Union Territories). Usage across infrastructure ministries and many states has showcased the strong benefits the PM GatiShakti principles are delivering,” said Sumita Dawra, special secretary, logistics, Department for Promotion of Industry and Internal Trade (DPIIT). Similarly, the petroleum and natural gas ministry’s Electronic Detailed Report Survey (e-DRS) tool generates DRS reports digitally in 24 hours, compared with six to nine months taken earlier when it was done manually without using the NMP.
02 November 2023 - (Economic Times) No more painful insulin shots: Hyderabad company develops oral insulin spray for diabetes
Hyderabad-based NiedlFree Technologies, a company affiliated with Transgene Biotek, has made significant progress in the field of diabetes treatment. They claim to have developed a painless and needle-free oral insulin spray called Ozulin, which can be used by both animals and humans. This breakthrough could potentially make controlling blood sugar levels as simple as spraying insulin into the mouth, a TOI report stated.
NiedlFree Technologies has applied to the Central Drugs Standard Control Organisation (CDSCO) for permission to conduct safety and toxicology studies before proceeding with human clinical trials. Dr. K Koteswara Rao, the co-founder and director of NiedlFree Technologies and CMD of Transgene Biotek, revealed that the company has obtained global patents for Ozulin in over 40 countries. In addition to diabetes treatment, NiedlFree Technologies is also working on developing oral and nasal sprays for cancer, osteoporosis, and Alzheimer's. To bring these drugs to the market, the company plans to raise $225-250 million in funding over the next few years.
03 November 2023 - (Economic Times) "US importing more from key partners like India...less dependent on China": Janet Yellen
Stating that the US is committed to an Indo-Pacific that is free and open, Secretary of Treasury Janet Yellen said that Washington is increasing its trade with countries like India, Vietnam and Mexico reducing its dependence on China. Yellen said that she along with President Biden will head Asia-Pacific Economic Cooperation (APEC) Leaders' Week later this month in California.
"Recognizing this big picture, the Biden Administration is pursuing an approach to the Indo-Pacific that furthers our country's long history of engagement and does justice to the region's importance for our and the world's future," Yellen said in a statement. "US is committed to an Indo-Pacific that is free and open, connected, prosperous, secure, and resilient," she added. The US Treasury Secretary said that the Biden administration is working to tackle challenges and seize opportunities and is also deepening economic integration and harnessing technological transformation.
