Stocks that will see action today (November 2)
Ind Swift Labs tanks 16% on selling API business to PI Industries
Ind-Swift Laboratories Limited is all set to commercially launch its key API - fexofenadine, an anti-histamine drug used for the treatment of seasonal allergic rhinitis and urticaria in US market.
Singapore - Swift Biosciences, a leading provider of innovative library prep solutions for next-generation sequencing (NGS), announced the launch of a new single-cell methylation sequencing method based on its Accel-NGS Adaptase technology, an efficient and robust NGS-prep solution for whole-genome bisulfite sequencing at single-cell resolution. This new method enables the efficient analysis of different methylated regions across thousands of cells from heterogeneous tissues, while also addressing applications, such as cell classification, regulation of cellular mechanisms in normal tissue, epigenetic alterations in disease states and evolutionary conservation of epigenomic regulation.
China's burgeoning active pharmaceutical ingredient (API) and intermediate industry has been steadily claiming market share from Indian companies, leaving several big players--including Arch Pharmalabs, Orchid Chemicals and Ind Swift Labs--under financial stress.
For years, low-priced raw material from China helped build India's generic drug industry into a global powerhouse. Now, that advantage is turning out to be the biggest weakness - if not a full-scale threat - for the country's bulk drug manufacturers.