VENTURE CAPITAL POST

With an objective of not giving any such scope for price escalation as Martin Shkreli did for Daraprim generic drug, US Food and Drug Administration (US FDA) has turned very cautious on approvals to generic drugs. US FDA is now reviewing new applications for generic drugs, while ensuring no such lapses of price escalation.

As part of reducing costs, the Japanese government is seeking lower drug prices by moving towards more generics. The ageing population and rising debt are taking a toll on the Shinzo Abe's government. The Japanese government is aiming to reduce prices of branded drugs.

The Canadian government will require pharmaceutical companies to post public notices when drugs are not available or face fines, Health Minister Rona Ambrose said on Tuesday.

India-based Aurobindo Pharma Ltd will be purchasing the generic drug operations of Dublin-based Actavis in seven countries in Western Europe in a deal worth around €30 million, Bloomberg reported.

The world's largest generic drugmaker, Teva Pharmaceutical Industries Ltd, has chosen Erez Vigodman to become its President and Chief Executive Officer beginning February 11, Bloomberg reported.

Mylan Inc. agreed with Strides Arcolab for the acquisition of Bangalore, India-based injectables unit.