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This is the fifteenth edition (week ending 5-Jul-26) of our Pharma Weekly - In Case You Missed It. Key developments in the past week:

1) Shilpa Medicare has partnered with Orion Pharma to commercialize an intravenous Nivolumab biosimilar in Europe, with Orion securing exclusive commercialization rights while Shilpa will receive milestone payments and long-term supply revenues. Separately, Unicycive Therapeutics received a second USFDA CRL for Oxylanthanum Carbonate (OLC) due to third-party manufacturing deficiencies, with no concerns raised on efficacy or safety.

2) Evommune's EVO756 failed Phase 2b trial in chronic spontaneous urticaria (CSU). The company continues to evaluate the drug in Phase 2b atopic dermatitis (3QCY26 data readout) and plans to begin a Phase 2b migraine prevention study shortly (read through for Piramal Pharma).

3) Apotex became the first company to receive a Health Canada approval for generic Wegovy (Semaglutide) for chronic weight management. The product, Sevmia, was developed with Orbicular Pharmaceutical Technologies (read through for Dr Reddy’s).

4) Samsung Bioepis reported positive global Phase 3 results for its Keytruda (Pembrolizumab) biosimilar, becoming the first company to demonstrate Phase 3 equivalence to the reference product (read through for Zydus, Dr Reddy’s and Biocon).

5) AbbVie's Rinvoq (Upadacitinib) received a positive CHMP opinion for nonsegmental vitiligo, moving closer to becoming the first systemic treatment for the condition in the EU, subject to European Commission approval (read through for Divi’s and Anthem).

6) Novartis has reduced out-of-pocket costs for eligible US patients taking Kisqali (Ribociclib) as part of a broader access program after the drug was included in the first round of Medicare price negotiations (relevant for Divi’s).

7) The Centers for Medicare & Medicaid Services (CMS) has clarified that beneficiaries already receiving Part D coverage for GLP-1s for non-obesity indications (type 2 diabetes, obstructive sleep apnea, or metabolic dysfunctionassociated steatohepatitis) are not eligible for the Medicare GLP-1 Bridge Program, which is intended only for obesity-related coverage.

8) Morepen Laboratories has commenced commercial supplies under its Rs8.25bn CDMO contract, completing the first dispatch worth ~Rs500mn in 1QFY27. The company expects ~Rs2.25bn of additional supplies in 2QFY27.

9) Lupin is exploring the sale of its Brazilian subsidiary Medquímica for ~BRL300mn. The business reported FY25 revenue of BRL235mn and a loss of BRL112mn, and has remained loss-making since its acquisition in 2015.

10) Sandoz and Hybio Pharmaceutical announced that the USFDA accepted, for review, their generic Tirzepatide applications referencing Mounjaro and Zepbound, positioning both companies among the leading contenders to launch the first generic Tirzepatide products in the US.

11) A US federal court granted Amgen a preliminary injunction, blocking Colorado's first-in-the-US price cap on Enbrel (Etanercept). The ruling prevents the state from enforcing the $600 weekly dose price cap, citing potential irreparable harm to Amgen while the legal challenge proceeds (Organon has an approved biosimilar of Enbrel in the US)

Additional News flow – Indian Pharma

1) Glenmark Pharmaceuticals has initiated a multi-country Phase 3 trial of Trastuzumab rezetecan in HER2-positive platinum-resistant ovarian cancer, with India becoming the first market to begin enrollment. The ADC was licensed from Hengrui Pharma in Sep-25 for commercialization across licensed markets outside China, the US, Europe, Japan, and certain CIS countries.

2) Lupin is exploring the sale of its Brazilian subsidiary Medquímica for around BRL300mn. The business, acquired in 2015, reported FY25 revenue of BRL235mn and a loss of BRL112mn, and has remained loss-making since its acquisition.

3) Morepen Laboratories commenced commercial supplies under its Rs8.25bn CDMO contract, completing the first dispatch worth ~Rs500mn in 1QFY27. The company expects ~Rs2.25bn of additional supplies in 2QFY27.

4) Mankind Pharma partnered with Denovo Sciences to launch an AI-driven drug discovery program, combining AI-driven molecular generation and prioritization platform with Mankind’s R&D and clinical development capabilities to accelerate early-stage drug discovery, improve quality of lead candidates and move strong development potential candidates ahead.

5) Corona Remedies commissioned its EU-GMP approved hormone manufacturing facility in Ahmedabad, increasing in-house hormone production capacity by ~20%. The facility will manufacture tablets, soft gel capsules, ointments, and gels.

6) The Delhi High Court restrained Finecure Pharmaceuticals from manufacturing or selling Pantopacid, holding they are deceptively similar to Sun Pharma's Pantocid. Finecure has been allowed four months to liquidate its existing inventory.

7) Shilpa Medicare partnered with Orion Pharma to develop and supply an intravenous Nivolumab biosimilar for Europe. Orion will hold exclusive commercialization rights, while Shilpa will receive milestone payments and long-term supply revenues.

8) Aurobindo Pharma has completed the $250mn acquisition of Lannett following FTC approval, with Lannett becoming a wholly-owned subsidiary of Aurobindo Pharma USA. The company will commence the integration process immediately.

9) Lupin received EMA approval to expand the label for NaMuscla to include children aged 6- 11 years (≥20kg) and adolescents (12-17 years) with non-dystrophic myotonic disorders, along with approval for new 62mg and 83mg capsule strengths.

10) India's pharmaceutical exports grew 6.6% YoY to $5.3bn in Apr-May ’26, despite exports to the US (-6.3%) and West Asia North Africa (-0.4%) declining. Growth was driven by vaccines (+37.5%) and bulk drugs (+13.6%), along with strong demand from ASEAN, LatAm, Africa, and Europe.

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