Ortho Clinical Diagnostics (Ortho), a business unit of Johnson & Johnson India, is being hived off into a separate company, as part of a global restructuring. Ortho, which manufactures clinical diagnostics for laboratories and blood banks, was acquired from J&J by the Carlyle group in a $6 billion deal globally in June 2014. The turnover of Ortho Clinical Diagnostics is estimated to be around Rs 220 crore.
Healthcare entrepreneur G S K Velu is starting a family office with an initial corpus of INR 500 crore for early-stage and growth capital investments. The yet-to-be-named proprietary investment management entity follows his recent exit from Mumbai-headquartered diagnostics chain Metropolis Laboratories via sale to private equity major Carlyle Group.
Continuing its spree of global advancement, healthcare platform Practo has advanced to the Malaysian market with its flagship products, Practo Search and Practo Ray. Consumers in Kuala Lumpur will be able to search for doctors across more than 350 clinics and 500 doctors listed on the platform. With over 50 percent coverage of private practices in Kuala Lumpur, Practo claims to be the largest such database for the city.
Dr Reddy’s Laboratories Ltd plans to step up sales of biosimilars, or copies of complex biotech drugs, in emerging markets in the next few years. Biosimilars are a lucrative category of medicines that is expected to generate billions of dollars in sales in the next few years, but Indian drugmakers are lagging their Western peers in launching biosimilars in developed markets. Dr Reddy’s, India’s No. 2 drugmaker by sales, generated $94 million from selling biosimilars to emerging markets between 2012 and 2015, and plans to launch products in Russia in the next few years. It is also looking at licensing opportunities in Southeast Asia
It also has plans to expand its generics business into Brazil and Colombia, and is considering acquisitions.
Fortis Healthcare would double its hospital bed capacity to 1,500 with an investment of Rs 1,500 crore in Punjab, besides setting up a medical university in the state. Fortis Healthcare has launched its multi-specialty hospital and woman hospital in Ludhiana in 2014.