Tag Archives: pharmaceuticals

Seoul and Washington Pen $950 Billion Deal

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**Washington and Seoul Broker Historic $950 Billion Trade and Military Deal**

Washington and Seoul have secured a landmark $950 billion agreement, bringing the two nations closer both in trade and military cooperation. This historic deal marks a significant step in strengthening the alliance between South Korea and the United States.

Under the terms of the agreement, South Korea will pay $350 billion upfront to reduce tariffs previously imposed by the USA. Over time, hundreds of billions of dollars will flow between the two countries, as trade once again proves to be a powerful tool for diplomacy.

A key component of the deal involves South Korea’s auto exports, which will be reduced from 25% to 15%. This adjustment brings South Korean automobile manufacturers on par with their Japanese counterparts. Additionally, the agreement aims to enhance South Korea’s competitiveness against Japan in sectors such as pharmaceuticals, wood products, and aircraft parts.

Seoul has committed to investing $200 billion in cash into the US economy, to be disbursed in increments of $20 billion. Furthermore, $150 billion will be allocated specifically to US shipbuilding, with payments scheduled to continue through January 2029. This phased approach is designed to avoid destabilizing South Korea’s foreign exchange market and to maintain a stable dollar-won ratio.

The $150 billion investment focused on ship construction guarantees direct participation from Korean firms. Among key collaborations, US investment firm Cerberus Management and Hyundai plan to jointly launch a $5 billion initiative. Both nations have discussed profit-sharing arrangements to precede the repayment of principal and interest on these investments.

The high-profile signing ceremony saw South Korean President Lee Jae Myung warmly greet then-US President Donald Trump. In a symbolic gesture, Trump was presented with a golden crown, a replica of an ancient artifact from the historic Silla Kingdom. Some observers interpret the crown as a subtle reference to the “No Kings” protests happening in South Korea at the time.

Significantly, President Trump became the first US president to receive the Grand Order of Mugunghwa, South Korea’s highest honor. His presence and reception have been seen as a revival of hope for deeper engagement in Asia.

Trump’s historic tour is anticipated to inject trillions of dollars into the US economy as Asian nations seek to strengthen ties under the current administration. Many countries in the region view China as a growing threat and see the European Union as a less robust partner. Consequently, numerous trade agreements now include military components, further solidifying strategic alliances.

These developments signal a future with substantial capital inflows into US markets driven by strengthened economic and military partnerships with Asian nations.
https://www.armstrongeconomics.com/world-news/world-trade/seoul-and-washington-pen-950-billion-deal/

Trump Admin Reportedly Close To Gobbling Up Stakes In Key Growing Industry

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Several quantum computing firms have reportedly been in discussions with the Commerce Department to offer equity stakes in return for federal funding.

Companies such as IonQ, Rigetti Computing, and D-Wave Quantum are considering allowing the government to take equity stakes as part of deals to secure funding designated for promising technology firms, the Wall Street Journal (WSJ) reported on Wednesday, citing anonymous sources familiar with the matter. Other technology firms, including Quantum Computing and Atom Computing, are also exploring similar arrangements, according to the outlet.

The Commerce Department, Quantum Computing, Atom Computing, D-Wave Quantum, Rigetti Computing, and IonQ did not immediately respond to the Daily Caller News Foundation’s request for comment.

Deputy Commerce Secretary Paul Dabbar, who was confirmed by the Senate in June, is reportedly spearheading the funding discussions with these technology companies, the anonymous sources told the WSJ. However, any potential deals with the quantum computing firms have yet to be finalized and remain subject to change, the report noted.

This news follows the White House announcement in August that the U.S. government will take a 10% ownership stake in Intel under a deal with the U.S.-based chipmaker. Additionally, Commerce Secretary Howard Lutnick stated on August 26 that the Trump administration was considering taking equity stakes in defense companies.

Quantum computers have the ability to solve highly complex statistical problems far beyond the capabilities of today’s conventional computers, according to a March report from McKinsey & Company. These machines can be applied across a variety of key industries, including finance, transportation, pharmaceuticals, and “green” technology.

An April 2023 report from McKinsey & Company estimated that quantum computing could account for nearly $1.3 trillion in value by 2035.

Following the release of the WSJ’s report, shares in U.S. quantum computing firms jumped in premarket trading on Thursday, according to Reuters.

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https://dailycaller.com/2025/10/23/trump-admin-commerce-department-quantum-computing/

European Commission cancels €45M Horizon Europe call for generative AI projects

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An abruptly cancelled €45 million Horizon Europe call for generative AI projects has already been included in the newest draft Horizon Europe work programme for next year.

The postponed call, referenced as Horizon-CL4-2025-03-Digital-Emerging-09, was cancelled just a day before the submission deadline on October 2, due to legal concerns.

The European Commission has proposed a replacement call for 2026 with some changes to the draft text. However, the budget and scope remain largely the same: approximately €15 million allocated for each of the three selected projects.

These projects will continue to support generative AI innovation in the aerospace, pharmaceuticals, and telecommunication networks sectors.

Beneficiaries are expected to organize three-stage competitions, through which they will distribute a share of their €15 million budget to innovators across Europe.

In the first stage, the beneficiaries will select 20 startups to participate…
https://sciencebusiness.net/news/r-d-funding/horizon-europe/european-commission-cancels-eu45m-horizon-europe-call-generative-ai

Tamil Nadu cancels licence of Sresan Pharmaceuticals, shuts down company

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The Tamil Nadu state health department has confirmed the shutdown of Sresan Pharmaceuticals following an investigation that revealed the presence of toxic contaminants, specifically Diethylene Glycol (DEG), in their product Coldrif syrup. This development comes after multiple deaths have been linked to the consumption of the adulterated medicine.

In response to the findings, the health department has ordered comprehensive inspections across all pharmaceutical manufacturing units throughout Tamil Nadu. Large-scale inspections are currently underway to ensure compliance with safety standards, ANI reported.

On October 9, the owner of Sresan Pharmaceuticals, Ranganathan, was arrested in Chennai by a Special Investigation Team (SIT) from Madhya Pradesh. He has been remanded in 10-day police custody by a Parasia court. Additionally, two senior drug inspectors have been suspended due to dereliction of duty, as reported by ANI.

The Tamil Nadu government has reiterated its directive for thorough inspections of all pharmaceutical manufacturing facilities in the state to prevent similar incidents from occurring in the future.

Bharatiya Janata Party (BJP) leader K Annamalai criticized the Tamil Nadu government’s handling of the crisis. He highlighted that despite the deaths of 23 people in Madhya Pradesh and three children in Rajasthan linked to the toxic Coldrif syrup, only two drug inspectors had been suspended. Annamalai accused the state government of attempting to shirk responsibility.

“A drug manufactured by a private pharmaceutical company in Kanchipuram has reportedly caused multiple deaths, yet the Tamil Nadu government is trying to create an illusion of having no connection or accountability,” he said. He also underscored the company’s history of quality violations and the apparent lack of proper inspections by state drug authorities.

Meanwhile, the Drugs Controller General of India (DCGI) has issued a directive to all states and Union Territories to ensure strict compliance with the Drugs and Cosmetics Rules, 1945. This includes mandatory testing of raw materials and finished pharmaceutical products before approval.

Earlier, the Enforcement Directorate (ED) conducted searches at seven locations in Chennai linked to the Sresan Pharmaceuticals case, addressing money laundering charges connected to the Coldrif syrup deaths. Multiple ED teams from the Chennai Zonal Office carried out simultaneous raids based on specific intelligence inputs.

According to officials, searches are ongoing at premises including the residences of senior officials from the Tamil Nadu Drug Control Office. The agency is investigating financial transactions and suspected proceeds of crime related to the production and distribution of the adulterated medicine.

The deaths caused by toxic cough syrups have raised national concern and prompted swift regulatory actions. Following these events, the Delhi government banned the sale, purchase, and distribution of Coldrif syrup after declaring it “not of standard quality,” according to an official order dated October 10.

The order stated:
“Coldrif Syrup (Paracetamol, Phenylephrine Hydrochloride, Chlorpheniramine Maleate Syrup), manufactured in May 2025 by Sresan Pharmaceuticals in Tamil Nadu, was found to contain Diethylene Glycol (46.28% w/v), a toxic chemical known to be hazardous to human health.”

All stakeholders were directed to immediately halt the sale, purchase, and distribution of the affected batch. The public has been strongly advised against consuming the product due to its potential health risks.

This incident underscores the critical importance of stringent quality control and regulatory oversight within the pharmaceutical industry to safeguard public health.
https://www.mid-day.com/news/india-news/article/cough-syrup-row-tamil-nadu-shuts-down-sresan-pharmaceuticals-after-cancelling-its-licence-23598484

Cough syrup deaths: PIL in SC seeks CBI probe

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**Cough Syrup Deaths: PIL in Supreme Court Seeks CBI Probe**

*By Snehil Singh | October 7, 2025, 4:29 PM*

A Public Interest Litigation (PIL) has been filed in the Supreme Court seeking a Central Bureau of Investigation (CBI) probe into the deaths of 14 children in Madhya Pradesh, allegedly after consuming a cough syrup. The PIL demands an investigation led by a retired Supreme Court judge into the manufacturing, regulation, testing, and distribution of contaminated cough syrups, ANI reported.

Several children across different states reportedly died after consuming Coldrif cough syrup, which was found to contain diethylene glycol (DEG), a highly toxic industrial solvent.

### Ban and Quality Concerns

The Union Health Ministry has confirmed that Coldrif cough syrup, produced by Sresan Pharma in Tamil Nadu, contained DEG levels beyond permissible limits. A Drug Testing Laboratory in Chennai declared the product “Not of Standard Quality” after testing a sample, a finding also confirmed by the Tamil Nadu Directorate of Drug Control.

Following these findings and mounting concerns due to child deaths linked to suspected renal failure, Tamil Nadu became the first state to ban the sale and distribution of Coldrif syrup.

### Actions Taken by Other States

In response to the crisis, Madhya Pradesh and Kerala have also banned Coldrif cough syrup. Telangana issued a public alert warning consumers about the product, while the Punjab government directed all retailers and healthcare institutions to cease purchasing or using Coldrif.

The tragic incident has led to widespread confiscation of stock nationwide and prompted stringent revisions to drug prescription guidelines in states such as Kerala and Karnataka.

### Historical Context: WHO Warnings Over Indian Cough Syrups

This is not the first time Indian-made cough syrups have been linked to fatal outcomes. In 2022, the World Health Organization (WHO) associated cough syrups from Maiden Pharmaceuticals with the deaths of 70 children in The Gambia due to acute kidney injuries caused by DEG and ethylene glycol (EG).

In 2023, Uzbekistan reported at least 18 child deaths linked to Indian-made cough syrup manufactured by Marion Biotech, triggering another WHO warning.

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The ongoing investigation and regulatory actions highlight the urgent need for stricter quality control and oversight in pharmaceutical manufacturing to prevent such tragic incidents in the future.
https://www.newsbytesapp.com/news/india/cough-syrup-deaths-pil-seeks-cbi-probe-states-ban-coldrif/story

Death toll rises to 13 in MP as another toddler succumbs to death

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The Chief Medical Health Officer (CMHO) of Chhindwara district, Naresh Gonnade, highlighted the severity of the ongoing crisis, stating, “This marks the 13th confirmed child fatality,” as reported by news agency IANS. However, when asked whether the recent death was linked to the toxic cough syrup, he remained silent. His silence speaks volumes about the grim situation surrounding the cough syrup tragedy in the tribal heartland of Chhindwara.

In recent days, the toxic cough syrup has claimed the lives of several young children aged between one and eight years. Despite the growing number of fatalities, the state government has not officially disclosed the exact toll connected to the contaminated syrup.

Among the victims was Dhani, a frail young girl suffering from a persistent cough and cold. According to her parents, she was prescribed the “deadly” syrup by Dr. Praveen Soni during a consultation at his private clinic in Parasia just days before her condition worsened. As Dhani’s health deteriorated, her parents rushed her to the local Community Health Centre on September 26, where she exhibited severe dehydration and oliguria — clear signs of kidney failure.

The CMHO further stated, “She was under treatment at Nagpur Medical College and died Monday night,” according to IANS. After being transferred to Government Medical College and Hospital (GMCH) in Nagpur amid poisoning suspicions, the toddler bravely fought for 11 days on dialysis and ventilator support but eventually succumbed to multi-organ failure. A doctor from Nagpur, speaking to IANS on condition of anonymity, confirmed the severity of her condition.

Toxicology reports confirmed the presence of diethylene glycol (DEG) in the syrup. DEG is a lethal industrial solvent commonly found in brake fluids and antifreeze. The concentration of DEG in the contaminated batch measured a staggering 48.6%, far exceeding safe limits.

Dr. Praveen Soni, a government paediatrician at the Community Health Centre in Parasia who was also practicing privately, has been in police custody since his arrest on October 5. He faces charges under Sections 105 and 276 of the Bharatiya Nyaya Sanhita for culpable homicide and drug adulteration.

The First Information Report (FIR) filed at Parasia police station further implicates Sresan Pharmaceuticals, based in Kanchipuram, Tamil Nadu. This company has been blacklisted nationwide due to prior issues.

Following the tragedy and widespread public outrage across Maharashtra, authorities flagged three more cough syrup brands on Monday after detecting similar DEG traces. This has broadened the ongoing investigation, as reported by IANS.

This toxic cough syrup crisis echoes a darker history, reminiscent of the 1986 Mumbai hospital tragedy in which contaminated syrup led to the deaths of 14 children, as documented by IANS.

Since late August, 16 children—primarily from Parasia and Tamia blocks—have died under similar circumstances, with ten having received treatment in Nagpur alone.

In response to the crisis, Chief Minister Mohan Yadav announced an ex gratia payment of Rs 4 lakh to the families of the deceased and promised free treatment for survivors. He has also vowed to form a Special Investigation Team (SIT) tasked with uncovering lapses in the syrup’s supply chain. “This is unforgivable negligence; no child should pay with their life for substandard drugs,” he declared forcefully.

The state government has taken strict administrative actions by suspending two drug inspectors and a deputy director, and transferring the drug controller. Maharashtra and Punjab have also imposed preemptive bans on the cough syrup brand Coldrif.

At the central level, the Central Drugs Standard Control Organisation (CDSCO) has launched raids across six states, cautioning healthcare practitioners against prescribing paediatric syrups for children under five years of age.

Telangana’s Drugs Control department echoed similar warnings after linking three recent deaths in Rajasthan to the same toxic syrup.

As investigations continue, authorities emphasize vigilance and strict regulatory oversight to prevent further tragedies linked to contaminated medicines.
https://www.mid-day.com/news/india-news/article/death-toll-rises-to-13-in-mp-as-another-toddler-succumbs-under-cough-syrup-horror-23597600