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New Delhi: Indian pharmaceutical industry's aversion to taking risks poses a major hurdle for innovation and that needs to change with the use of technology, according to Biocon chairperson Kiran Mazumdar-Shaw."In pharma and biopharma, the pipeline is the lifeline," Mazumdar-Shaw said at a meeting on quality management in New Delhi last week, stressing the need to replenish the drug development pipeline continuously.Drug discovery is fraught with risks, with only one or two out of 10 candidates advancing to the final stages and meeting commercial milestones.134860305Mazumdar-Shaw was part of a panel that included Sun Pharma executive chairman Dilip Shanghvi and Glenmark Pharma chairman Glenn Saldanha. The three industry leaders discussed the sector's future direction and India's shift from a long history of generic drugs towards innovative medicines.Indian Foundation of Quality Management, a consortium of companies, including Tata Sons, TVS Motors, Biocon, Sun Pha...

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American Depository Receipts (ADRs) of Indian IT services companies Infosys and Wipro fell nearly 3% in US trading on Thursday, weighed by fresh concerns about the sector's outlook after Tata Consultancy Services reported its September-quarter earnings and the US government widened its crackdown on employment-based immigration programmes.Infosys ADRs were down 2.8% at $10.26 at 9 p.m. IST, while Wipro ADRs traded 2.5% lower at $1.63.The moves came after TCS, India’s largest IT services company, reported a 15% year-on-year rise in consolidated net profit to Rs 13,884 crore for the September quarter. Revenue from operations increased 11.2% to Rs 73,188 crore. TCS also reported an operating margin of 24% and annualised AI revenue of $3.1 billion, which crossed 10% of its overall revenue.TCS said its total contract value for the quarter stood at $9.6 billion, while its workforce increased to 598,056 employees. The company also declared a second interim dividend of Rs 12 per share.The e...

Foreign investors withdrew $26.3 billion from emerging-market stocks and bonds in September, marking the first monthly outflow since June, as a hawkish Federal Reserve pushed US yields and the dollar higher, the Institute of International Finance said on Wednesday, Reuters reported.Non-resident investors pulled $7 billion from emerging-market fixed-income assets during the month, resulting in the first net outflow since March, when an escalating conflict in the Middle East unsettled global markets.Emerging markets came under pressure after the Fed, led by Kevin Warsh, raised interest rates for the first time since 2023 and signalled that inflation remained a concern.The Federal Open Market Committee's decision sent US Treasury yields sharply higher, strengthened the dollar and prompted investors to retreat from riskier assets.“The pressure built in the second half of the month, as hard currency bond funds turned to outflows in the week of the FOMC decision and EM dollar credit spre...

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