Health Industry Faces Major Shifts Amid New Regulations and Market Dynamics
Current developments in the health industry include EU's advisory on cereulide toxin levels in baby formula leading to product recalls, Mankind Pharma's profit boost, and USDA's efforts to control screwworms. Other highlights include delays in gender surgery recommendations and mixed results for Sanofi's experimental drug. Meanwhile, obesity drug markets face challenges.
The European food safety body has prompted recalls in baby formula products from French producers due to advisories on the maximum level of cereulide toxin. Ingredients from a Chinese supplier, associated with giants like Nestle, have been flagged for containing the nausea-inducing toxin.
In another key development, Indian firm Mankind Pharma reported a rise in third-quarter profits, driven by the strong demand for drugs addressing chronic illnesses. The company achieved a net profit increase to 4.09 billion rupees, up from 3.8 billion the previous year.
Meanwhile, the USDA is taking preventive measures against the spread of screwworm pests by releasing sterile flies near the US-Mexico border, highlighting a critical effort in protecting livestock from these dangerous parasitic insects.
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