Zydus, CDRI to Develop New Osteoporosis Treatment for CKD Patients
- 27 Sept, 01:45 AM (GMT+5:30)
- 3 Min
Summary
Zydus Lifesciences and the Central Drug Research Institute (CDRI), on September 27, announced plans to develop safe and effective treatments for osteoporosis in patients with chronic kidney disease (CKD). The collaboration will focus on creating small-molecule inhibitors of Sclerostin that can be taken orally.
Key Takeaways from Zydus and CDRI Development of New Osteoporosis Treatment:
- Zydus Lifesciences and Central Drug Research Institute (CDRI) collaborate to develop osteoporosis treatments for CKD patients.
- Existing osteoporosis drugs are often unsuitable for CKD patients due to kidney risks.
- High levels of Sclerostin are linked to bone metabolism issues in advanced CKD and osteoporosis.
- Zydus will manage drug development for India and other markets.
CKD affects over 10% of people worldwide and can lead to serious health issues, including bone loss and fractures, especially in older adults.
Current osteoporosis medications are often not suitable for CKD patients due to potential harm to their kidneys. This has created a need for new therapies that can help these patients without worsening their condition.
Research shows that a protein called Sclerostin is linked to bone metabolism issues in CKD patients. Studies indicate that Sclerostin levels are high in those with advanced CKD and osteoporosis.
On September 17, 2024, the two organizations signed a research agreement at Zydus Research Centre in Ahmedabad. The CDRI team, led by Dr Naibedya Chattopadhyay, will work on identifying compounds that can inhibit Sclerostin signalling, while Zydus will handle drug development for India and other markets.
The partnership aims to create innovative therapies that can improve the quality of life for those affected by CKD and osteoporosis in India.
About Zydus Lifesciences Limited:
Zydus Lifesciences Limited is a global healthcare company focused on helping people live healthier and more fulfilling lives. They discover, develop, manufacture, and market a variety of healthcare therapies, with a strong emphasis on cancer treatments that include cytotoxic, supportive, and targeted drugs. The company employs over 27,000 people worldwide, including 1,400 scientists in research and development. Their mission is to create innovative healthcare solutions that make a difference in people's lives and to achieve transformative discoveries.
About CSIR-Central Drug Research Institute (CSIR-CDRI):
The CSIR-Central Drug Research Institute (CSIR-CDRI) is a leading drug research institute in India, established on February 17, 1951, by Prime Minister Jawaharlal Nehru. Its goal is to enhance drug research and development in the country. The institute has achieved significant milestones in creating new drugs and technologies for affordable healthcare, generating knowledge, and training future leaders in the healthcare sector.
Today, CSIR-CDRI serves as a model for modern drug research in India, housing everything needed for drug development under one roof—from synthesis and screening to clinical studies. It has discovered and developed 12 new drugs, including Arteether, BESEB, and Centchroman, which are currently available on the market. The institute has also transferred over 130 homegrown technologies to pharmaceutical companies, contributing greatly to the growth of the Indian pharmaceutical industry.
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Ganesha Ecosphere Allotted 4,55,000 Equity Shares by Race Eco Chain Limited
- 27 Sept, 02:08 AM (GMT+5:30)
- 2 Min
Summary
Ganesha Ecosphere Limited (GESL) has announced on Thursday, September 26, that it has been allotted equity shares from Race Eco Chain Limited on a preferential basis. This acquisition aligns with GESL's strategy to enhance its raw material supply chain, specifically in plastic waste management.
Key Takeaways from the Announcement
- Ganesha Ecosphere Limited has received 455,000 equity shares from Race Eco Chain Limited.
- This acquisition is part of GESL’s strategy to enhance its raw material supply chain, particularly focusing on plastic waste management.
- After this allotment, GESL holds a 2.64% shareholding in Race Eco Chain Limited.
Ganesha Ecosphere Limited (GESL) has announced the allotment of 455,000 equity shares of ₹10 each from Race Eco Chain Limited on a preferential basis, as disclosed in a communication sent to the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 26, 2024. This acquisition aligns with GESL's strategy to enhance its raw material supply chain, specifically in plastic waste management.
Gesl received the shares for an issue price of ₹352 per equity share valued at ₹16.01 crore. After the transactions, GESL owns a 2.64% shareholding interest in RACE. As this acquisition does not breach any existing regulations, no external approvals are required. The agreement transpired per arm's length, nor was there any non-arms length associated party transactions.
Race Eco Chain Limited, incorporated on November 22, 1999, operates in the plastic waste management industry and is listed on both the BSE and NSE. As per its audited financial statements for the year ending March 31, 2024, RACE reported revenue from operations of ₹338.50 crore and a net worth of ₹22.22 crore.
About Ganesha Ecosphere Limited
Ganesha Ecosphere Ltd. is a leading entity of PET waste recycling in India, with its focus on manufacturing Recycled Polyester Staple Fibre (RPSF), spun and dyed texturized yarns. Ganesha Eco was founded as Ganesh Polytex Ltd in 1987 and adopted its name to Ganesha Ecosphere Ltd in October, 2011.
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SeQuent Scientific and Viyash Lifesciences Announce Merger
- 27 Sept, 01:52 AM (GMT+5:30)
- 3 Min
Summary
SeQuent Scientific, a key player in the global animal health market, announced a merger on September 26 with Viyash Lifesciences Private Limited, an integrated pharmaceutical company.
Key Takeaways from SeQuent Scientific and Viyash Lifesciences Merger:
- SeQuent Scientific merges with Viyash Lifesciences on September 26.
- The merger strengthens the R&D and manufacturing capacities of both companies.
- The new entity will operate in over 150 countries with 16 advanced manufacturing facilities.
- Viyash shareholders will receive 56 shares of SeQuent for every 100 shares they hold.
- The entity will have five times more R&D talent and nine times more USFDA-approved manufacturing facilities.
The merger will combine SeQuent's and Viyash's strengths, enhancing their research and development (R&D) capabilities and manufacturing capacities. The new entity will operate in over 150 countries and will have 16 state-of-the-art manufacturing facilities, significantly increasing its market reach.
Under the merger plan, Viyash shareholders will receive shares of SeQuent at a ratio of 56 shares for every 100 shares they hold. The combined company will have 5x more research and development talent and 9x more manufacturing facilities approved by the USFDA.
Commenting on the proposed merger, Rajaram Narayanan, Managing Director and CEO of SeQuent said, “We believe that in order to continue to deliver differentiated value to our customers in times to come, it is imperative to scale up our product development and R&D capabilities to capture the market opportunity we are seeing and to build on our leadership in the Animal health market. …Together, we will turbocharge our growth engines including capturing the market opportunity in the overall global pharma markets enabled by Viyash’s capabilities.”
Commenting on the proposed merger, Haribabu Bodepudi, Chairman and CEO, Viyash, said, “With our combined resources, R&D capabilities, manufacturing capacities, and streamlined supply chain, we are well-positioned to accelerate growth and offer a wider range of high-quality products to our customers.”
About SeQuent Scientific Limited:
SeQuent Scientific Limited is based in India and works in the global animal health market. The company has seven manufacturing facilities located in India, Spain, Brazil, and Turkey, all approved by major international regulatory agencies like the US FDA and WHO. SeQuent produces active pharmaceutical ingredients (APIs) and animal health products for over 100 countries and employs more than 1,500 people.
About Viyash Lifesciences Limited:
Viyash Lifesciences is a complete pharmaceutical company that focuses on niche formulations, APIs, and advanced intermediates. It has a research and development team of over 200 scientists and operates 9 USFDA-approved plants, demonstrating its strong capabilities in R&D and manufacturing. Viyash serves customers in more than 150 countries.
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ADF Foods to Acquire Remaining Stake in Vibrant Foods New Jersey LLC
- 27 Sept, 11:19 PM (GMT+5:30)
- 3 Min
Summary
On September 26, 2024, ADF Foods Limited announced that its Board of Directors approved the acquisition of the remaining 30% stake in its U.S.-based subsidiary, Vibrant Foods New Jersey LLC. The company currently holds a 70% stake in Vibrant Foods and will acquire the minority interests through its immediate holding company, ADF Holdings (USA) Limited. Following this transaction, Vibrant Foods will become a wholly owned step-down subsidiary of ADF Foods.
Key takeaways from ADF Foods' acquisition of Vibrant Foods New Jersey LLC
- ADF Foods will acquire the remaining 30% stake in Vibrant Foods, making it a wholly-owned subsidiary.
- This strategic move aims to streamline operations and enhance integration with the company's U.S. strategy.
- The acquisition allows ADF Foods to implement focused support, ongoing investments, and cost efficiencies, which are expected to unlock long-term value for the company and support Vibrant Foods in its growth.
- As part of the acquisition, a USD 500,000 working capital loan will be converted into equity, strengthening Vibrant Foods' capital base and simplifying management operations without the complexities of minority shareholders.
The acquisition is expected to support better integration of the business into the U.S. strategy. ADF Foods is confident that owning Vibrant Foods will allow the creation of long-term maximum value through operating the business to target operating efficiencies and continued capital investments in line with the capital plan runway and cost efficiencies. The acquisition will also provide the business with the ability to allocate resources more effectively to support the management of Vibrant Foods through the next phase of the business without the complications of management of minority shareholders.
Furthermore, as part of this acquisition, a working capital loan of USD 500,000 provided by ADF Holdings (USA) Limited to Vibrant Foods will be converted into an equity contribution. This financial restructuring is intended to strengthen Vibrant's capital base.
Details regarding the acquisition have been disclosed according to the regulatory requirements set forth by the Securities and Exchange Board of India (SEBI). Vibrant Foods, which has an authorised share capital of USD 1 million, reported a turnover of approximately ₹70.96 crores (about USD 8.6 million) as of March 31, 2024. The company was established in September 2021 to bolster ADF Foods' distribution and supply chain in the U.S. market.
The acquisition is considered a related party transaction given ADF's current ownership share in Vibrant Foods, but it has been confirmed that this acquisition was completed at arm's length. No regulatory or government approvals are needed for this acquisition, and the cash consideration for the acquired shares was USD 10. This acquisition evidences ADF Foods' commitment to further invest in and enhance operational efficiencies and oversight strategy at Vibrant Foods in support of ADF Foods' strategy to grow in the U.S. food market.
About ADF Foods Limited
ADF Foods focuses on manufacturing, processing, and exporting diverse traditional Indian food items, which comprise pickles, chutneys, pastes, sauces, ready-to-eat meals, and frozen, or canned foods. ADF Foods products are available through multiple businesses across different markets, like Europe, USA, Australia, and the Gulf region. ® ADF Foods UK Limited and ADF Holding USA Limited are the distributors for fast-moving consumer goods (FMCG) throughout the UK and USA, respectively.
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