Adult And Paediatric CTVS Centre Inaugurated At Muddenahalli Will Serve 1.2 Million Residents Of Chikkaballapur District

* The Cardiothoracic and Vascular Surgery Centre seeks to eliminate the imbalance between the affordability and availability of specialised healthcare treatments

Honourable Minister of Law, Parliamentary Affairs and Tourism – Sri H K Patil inaugurated the Cardiothoracic and Vascular Surgery Centre at Muddenahalli, Chikkaballapur district, Karnataka. The Centre includes a dedicated cardiac OT, ICU and heart-lung machine and proves to be a boon to the residents of this District and the surrounding regions. It is the only Centre to provide free super-speciality treatment for the rural in this District, who otherwise would have to travel 70 kilometres in search of it.

The Sri Sathya Sai Sarla Memorial Hospital under the Sri Madhusudan Sai Institute of Medical Sciences and Research (SMSIMSR) is all set to provide healthcare services including Cath interventions (Angiogram and balloon angioplasty, stent placements, correction of CHD in children) and heart and chest surgeries (open heart by-pass surgery, beating heart procedures, valve replacements, and CHD surgeries for children) totally free of cost without any distinction based on caste, creed, religion or faith. The highly qualified and experienced surgical team will render medical services at par with the best centres in the world, keeping competence alongside compassion as the guiding vision for all its endeavours. The Hospital will not only cater to diagnosis and surgical corrections of the cardiac conditions but soon going to be the world-class centre of academic surgical excellence and research and a homograft bank. ‘Gift of Life’ is a ceremony which was instituted by Sri Madhusudan Sai across all his hospitals, where those who are saved through surgeries are celebrated. Five-year-old Muhammad who wasn’t able to run or play underwent a patent ductus arteriosus device closure, and seventeen-year-old Akash K A underwent a closure of atrial septal defect at the hospital received ‘Gift of Life’ certificates through the Hon’ble Minister. Both the children are living the new lease of life provided by the Hospital.

The Founder of SMSIMSR – Sri Madhusudan Sai said, “This Centre is a gift given to the people of the Chikkaballapur District on this New Year in the spirit of One World One Family – vasudhaiva ku?umbakam, because they deserve good healthcare despite of the affordability criterion. Specialists from far and wide have joined this mission of providing free healthcare to people and thus, this is nothing short of a miracle. Today, a new chapter has begun with the inauguration of this Centre and it is possible due to collaborative efforts from Sri Jayadeva Institute of Cardiovascular Sciences and Research, the Government support and an organisation like us. In Karnataka, 36% of young adults in their 40 to 60 years of age, die from coronary artery disease. Losses due to premature deaths at young age, related to heart disease, stroke and diabetes are also projected to increase over the years. Therefore, it is essential to provide start-of-the-art super speciality healthcare facilities especially in rural India to reduce the burden of heart diseases in India.”

“The Hospital has been a life-giver to thousands, especially the infants admitted, by maintaining the child mortality rate to less than 0.5 per cent in the last year. The CTVS Centre is a collective effort of the dedicated medical staff, support of the community, and the generosity of the like-minded noble individuals from across the globe”, said Dr A R Raghupathi – Director of Medical Education, SMSIMSR.

Dr Anand Agarwal – Head of Department, CTVS Centre, “First ninety minutes after the heart attack is extremely crucial and therefore called as the golden hour. Treating the heart attack in within this timeframe with primary PTCA or medication can help salvage the heart. The Centre will be open 24/7 for all the cardiac emergencies treating coronary artery disease, and rheumatic and congenital heart disease.”

“The Hospital infrastructure and services, made available to people who cannot afford them, are no less than that of the Western world. The Sri Madhusudan Sai Institute of Medical Sciences is a role model to all healthcare institutions out there, to serve with compassion and kindness. This Institution has given more importance on the culture of kindness, which is the need of the hour”, remarked Hon’ble Minister for Law, Parliamentary Affairs and Tourism – Mr H K Patil.

About Sri Sathya Sai Sanjeevani Chain of Hospitals

The Sri Sathya Sai Sanjeevani began this journey by establishing the first Sri Sathya Sai Sanjeevani Centre for Child Heart Care at Nava Raipur Atal Nagar, Chhattisgarh in November 2012. In November 2016, the second Sri Sathya Sai Sanjeevani International Centre for Child Heart Care & Research was inaugurated by the Honourable Prime Minister of India – Mr Narendra Modi at Baghola, Palwal District, Haryana. Sri Sathya Sai Sanjeevani Centre for Child Heart Care & Training in Pediatric Cardiac Skills, Kharghar, Navi Mumbai was established as a ‘Public Service Institution’ in November 2018. So far, these Hospitals have performed over 28,000 surgeries, free of cost. These Centres of healthcare are empanelled in the National and State level Government schemes like Ayushman Bharat, Rashtriya Bal Swasthya Karyakram (RBSK), Chirayu Chhattisgarh, and Mahatma Jyotirao Phule Jan Arogya Yojana (MJPJAY). Five paediatric cardiac hospitals in five States of India, two overseas in the Fiji Islands and Sri Lanka, along with five mother and child hospitals in India, have been serving thousands of needy children and mothers for free.

Sri Sathya Sai Sarla Memorial Hospital (teaching hospital of the Medical College) located at Muddenhalli near Bengaluru airport, is a 360-bedded multi-specialty hospital which treats over 1,300 outpatients and 300 inpatients on any given day.

73% Of Organisations In The US Foresee An Increase In Their IT Spends In 2024

Cyber and Data security emerges as the leading priority.

69% of organizations presently utilise Large Language Models (LLMs), of which 50% of organisations have adopted GPT- 4 by Open AI

…pointers from a US-based CIO survey for Indian IT vendors 

Recognize, a technology investment platform that focuses exclusively on the tech services industry, has shared some interesting findings from its recent CIO survey. The Recognize CIO Survey series is a regular panel of 250-500 CIOs in the US.

The data from this survey helps track spending intentions, changes in technology, product preferences, strategic priorities, and talent challenges.

Key Findings:

Augmented IT Budget for the year 2024:

The survey explored organisations’ IT spends and budget plans. 73% of CIOs foresee an increase in their IT budgets for 2024, while 15% expect no change, and 12% predict a reduction, signalling an investment trend in the tech sector for the upcoming year.

Cyber/ Data security emerges as a leading priority among top three IT initiatives:

Upon analysing the IT Initiatives adopted by organisations, Cyber/ Data security tops the list with 36%. Following closely as the second-highest initiative is Artificial Intelligence with 35% responses, while the third ranking initiative is Cloud migration with 29%.  

Rising adoption of LLM (Large Language Model) across organizations:

69% of organizations presently utilise Large Language Models (LLMs), indicating extensive adoption. However, 24% organizations are yet to implement this technology, and 7% are uncertain about their engagement with these advanced AI systems.

GPT -4 by Open AI emerges as the predominant adopted LLM:

Among the organizations employing large language models, GPT-4 by Open AI leads with 50% usage, followed by its predecessor GPT -3.5, at 19%.  Other models like Google AI's PaLM 2, Anthropic's Claude v1, and various offerings from the Technology Innovation Institute and Stability AI also see utilization, reflecting a diverse ecosystem of AI tools in the industry.

Future of AI: Impact of AI over companies in the next two years

Surveyors predict AI to substantially influence their organizations in the next two years, with 54% expecting significant use cases that drive productivity and 22% foreseeing a transformational impact, highlighting AI's integral role in shaping future business operations.

Meanwhile, 19% of the CIO’s believe that AI’s impact is significant in certain use cases and does not impact greatly.

Interestingly, 6% of them perceive that AI does not make much an impact in driving productivity in their organisations.

A surge in the implementation of ERP projects across organizations:

Nearly half of the organizations surveyed, 47%, are already amid a major ERP project, while 37% are planning to initiate one in the next year. This indicates a significant commitment to enterprise system upgrades within the near future, with only 12% not engaging and 4% undecided.

About Recognize:

Recognize is a technology investment platform exclusively focused on the technology services industry. Tech services firms envision, build, configure, manage, and operate software and business processes to deliver digital outcomes for enterprises. The firm provides operational expertise, industry insights, and strategic capital to innovative companies in this sector. Recognize is led by industry veterans Frank D’Souza, Raj Mehta, Charles Phillips, and David Wasserman. To learn more, visit www.recognize.com.

This communication (“Information”) is being furnished by Recognize Partners LP (“Recognize” or the “Firm”) to the recipient (“you”) solely for informational purposes. This Information is not, and may not be relied on, in any manner, as legal, tax, investment, accounting or other advice.  This Information is not, and should not be construed as, an offer of investment advisory services by Recognize, nor as an offer to sell (or a solicitation of an offer to buy) an interest in any investment sponsored by or affiliated with Recognize.  The Information is not an endorsement of any particular security or investment opportunity. 

Certain information contained in this Information has been obtained from published and non-published sources prepared by other parties, which in certain cases has not been updated through the date hereof. While such information is believed to be reliable for the purposes of this Information, neither Recognize nor its affiliates assume any responsibility for the accuracy or completeness of such information, and such information has not been independently verified.  Statements contained in this Information (including those relating to current and future market conditions and trends in respect thereof) that are not historical facts are based on current expectations, estimates, projections, opinions and/or beliefs. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. In addition, no representation or warranty is made with respect to the reasonableness of any estimates, forecasts, illustrations, prospects or returns, which should be regarded as illustrative only, or that any profits will be realized. You should make your own investigations and evaluations of the contents of the Information and should note that such information may change materially.

The Recognize CIO Survey and its results (collectively, the “Survey”) represent voluntary responses to a range of inherently subjective questions posed by Recognize to respondents, and the Survey must be viewed in that context. While Recognize believes the Survey results offer a reasonably informative summary of respondents’ beliefs about relevant industry topics, the Survey’s design is the result of subjective decisions with which others may or may not agree. Recognize makes no representation as to the accuracy or completeness of the Survey, or that the outcomes predicted, suggested, or implied in the Survey will materialize. Recognize reserves the right to modify the Survey’s targeted respondents and/or methodology at any time without notice to recipients. Neither the Information nor the Survey are, and readers should not interpret them as, devices that can be used by themselves (or together) to determine whether or not to make any particular investment.

Zuno General Insurance Unveils “Zuno HealthPlus Policy”: An Affordable & customisable Health Insurance plan

Highlights

The policy offers cover from sum insured 5 lakhs to INR 5 crores, no Room Rent Capping 

Unlimited Restore for unrelated ailments, 2X benefit from day 1 under Recharge benefit for related ailments. 

No claim bonus – Sum Insured doubles in 2 claim-free years. 

No sublimits or disease wise capping, no age-based co-payment. 

Zuno General Insurance, a new-age digital insurer, introduces its latest health insurance policy - Zuno HealthPlus Policy. This innovative health insurance plan is designed to provide tailored coverage and benefits for individuals and families at an affordable premium.  

This inflation-adjusted product allows coverage for up to 9 family members under a single policy, streamlining the process of managing multiple policies.  

Zuno HealthPlus Policy caters to diverse needs, allowing individuals and families to choose from 20 different relationships for coverage. Product where a bachelor can insure themselves with a basic health insurance and opt for adventure sports optional cover. Young couples can go for plans with maternity benefits and newborn covers. Looking at rising infertility, intending couples may also opt for infertility and surrogacy covers. A family with children can choose to go with Outpatient and worldwide covers. With no maximum entry age barrier, this policy offers cover to senior citizen. 

In addition to these features, to make it even more accessible, policyholders can enjoy up to 20% zone-based discount based on their geographical location. Additionally, the policy offers long term discount of up to 10% and incentivise an existing customer with 5% discount on purchasing this policy. Not only this, but you also get a discount of 15% if you purchase directly from our website. 

Announcing the launch of the new policy, Shanai Ghosh, MD & CEO of Zuno General Insurance said, "Zuno HealthPlus Policy reflects our commitment to innovation and customer-centric solutions. We believe in making insurance simple, easy to understand and accessible to all. Zuno HealthPlus Policy is a significant step in that direction. With high sums insured, no room rent capping, no sublimit or disease wise capping including modern treatments and comprehensive coverage, it’s not just an insurance —it's peace of mind" 

The new policy will primarily be accessible through its network of channel partners. Zuno HealthPlus Policy also gives leverage to its customer when it comes to medical screening. There will not be any medical test for coverage up to 20 lakhs, age of 55 years without extreme health conditions. 

Zuno HealthPlus Policy ensures hassle-free healthcare with an extensive network of over 10,000 cashless hospitals. In times of emergency, the vast network eliminates the concern of finding a suitable facility. In case of admission to a non-network hospital, Zuno makes efforts to onboard it for cashless facilities. For reimbursement claims, Zuno offers “Cash in Advance” facility, where Zuno pays an advance payment to the customer providing immediate support in emergencies. The 24 x 7 Claims Concierge provides expert guidance throughout the claims process ensuring prompt and seamless support to the policyholders making the customer experience stress-free.  

Zuno General Insurances is confident that Zuno HealthPlus Policy will set a new standard for health insurance products, combining innovative features with a commitment to affordability and a customer-centric approach. For more information on Zuno HealthPlus Policy and other insurance products, please visit our website https://www.hizuno.com/  

About Zuno General Insurance: 

Zuno General Insurance, formerly known as Edelweiss General Insurance, is a new-age digital insurer with an aspiration to reimagine Insurance to make it easy, friendly, and transparent. Amidst all the jargon and seriousness, Zuno is the friendly voice speaking in a language you understand, and listening to what you have to say, stepping in at the right time, so that you don’t have to worry when things don’t go as planned. Zuno is the friend you can always turn to for help, with the confidence that we will have your back at all times. 

At Zuno GI, the focus is on building trust through digital solutions that are intuitive and responsive, using consumer insights and data analytics to drive innovation and experience. Our consumer insight driven strategy focused on customers experience, innovative solutions and an intuitive digital platform differentiates us in a competitive market. 

Zuno GI started operations in 2018. We have over 3 million customers and a growing omnichannel distribution on digital rails. The company has presence across key digital marketing places and partnerships with Maruti, Tata Motors, Mahindra, Skoda, Volkswagen, Jeep, OLA, PolicyBazaar, Turtlemint, Dunzo, PhonePe, Insurance Dekho, Fedbank Financial Services, Dvara KGFS, Repco Home Finance, ART Housing Finance, Renewbuy, Bajaj Capital, Anandrathi Global Finance, Avanse Financial Services, Zopper, Spinny, etc. 

SecurEyes Cyber Security Certification Program Welcomes Aspiring Professionals For The February 2024 Batch

SecurEyes, a leading cyber security firm based in engaluru, is excited to announce the commencement of its highly sought-after Cyber Security Certification Program for the February 2024 batch.

Seemanta Patnaik, CTO and Co-founder of SecurEyes, emphasizes the crucial role that cyber security professionals play in fostering an environment of progress and safety. "Progress cannot happen in an insecure environment. Cybersecurity professionals are a key link to the emotional and physical safety of individuals, businesses, and governments. It's a big job, with a lot of built-in job satisfaction," said Patnaik.

Mr. Karmendra Kohli, CEO and Co-founder of SecurEyes, emphasizes the importance of staying one step ahead of cybercriminals. "Your cybersecurity journey will not only depend on your specific skillset but also on your unique interests to learn. Our program is designed to equip you with the latest knowledge and practical skills to excel in this ever-evolving field," says Kohli.

In an era where cybercrimes loom large and the demand for skilled professionals is at an all-time high, SecurEyes stands resolute, offering an ideal platform for individuals aspiring to become an expert in the dynamic field of cyber security.

The 10th batch of this comprehensive three-month online course is set to kick off in February, 2024, marking another milestone in the company's commitment to cultivating a cadre of adept cyber defenders.

According to a recent study conducted by the International Information System Security Certification Consortium, there is a staggering shortage of nearly 4 million cyber security professionals worldwide. SecurEyes recognizes this gap and aims to bridge it by empowering individuals with the knowledge and skills needed to combat the ever-evolving cyber threats.

The global digital economy, valued between USD 25 trillion to USD 30 trillion, indicates  to the transformative power of technology. Unfortunately, with the digital revolution comes the dark side - cybercrime, a permanent feature in our interconnected world. SecurEyes acknowledges the vital role of cyber security professionals in maintaining the integrity of the digital realm.

To ensure a holistic learning experience, the February 2024 batch will benefit from live sessions conducted by cybersecurity experts actively engaged in real-world projects from around the globe. Students will have 24X7 access to online labs and comprehensive study material covering key concepts such as Information Security, Network Security, Infrastructure Security, Application Security, Governance, Risk & Compliance, Security Operations, and Incident Management.

As the digital landscape continues to evolve, so does the need for vigilant guardians against the rising tide of cyber threats. Every industry recognizes the critical need for skilled cybersecurity professionals to safeguard networks, data, and online transactions. SecurEyes Cyber Security Certification Program aims to nurturing the next generation of cyber defenders.

For further details please click here: https://secureyes.net/cscp/index.html

ABOUT SECUREYES

SecurEyes is a leading global cyber security specialised consulting services and suptech product development firm incorporated in 2006 with offices in India, USA, UAE and KSA. It is empanelled with CERT-IN and specialises in developing state-of-the-art innovative technology products to provide complex business solutions.

SecurEyes products are built using the latest technologies including Angular, NodeJS, NET and rely on use of a relevant mix of machine learning, artificial intelligence securely and efficiently.

SecurEyes clients include regulatory bodies for key industry sectors, large government organisations, banking majors, financial services institutions, insurance companies, international airlines, large trading houses and public sector companies in over a dozen countries.

The firm recently received UK’s Central Banking Award in London for its flagship product- RegTech.

Samsung Opens Pre-Reserve For The Next Galaxy Smartphone In India

Samsung, India’s largest consumer electronics brand, announced the pre-reserve of its next flagship Galaxy smartphone, which will be unveiled later this month. Pre-reserved customers will be eligible for early access and special offers on purchasing the new Galaxy devices.

Customers can pre-reserve the flagship Galaxy devices by paying a token amount of INR 2000 on Samsung.com, Samsung Exclusive stores, Amazon.in and leading retail outlets across India. Consumers who pre-reserve will get benefit worth INR 5000.  

Since the introduction of the first Galaxy flagship, Samsung has been continuously enhancing and innovating the flagship experience for the consumers. With the next generation of the flagship, offering enhanced devices based on years of rigorous R&D and investment, Samsung aims to further drive the latest era of Galaxy innovation and consolidate its position as the industry leader.

Samsung will unveil its next generation of flagship devices at Galaxy Unpacked on January 17 in San Jose, California.

Glenmark Is The First To Launch Biosimilar Of Popular Anti-Diabetic Drug, Liraglutide, In India

-          The anti-diabetic biosimilar has been launched under the brand name Lirafit™, and is indicated for improving glycemic control in adult patients with type 2 diabetes mellitus.1

-          Clinical trials on Liraglutide have demonstrated several benefits, including effectively lowering glycemic parameters, weight reduction, and cardiovascular safety in patients with type 2 diabetes mellitus.2,3,4,5

-          Liraglutide belongs to the class of glucagon-like peptide 1 receptor agonists (GLP-1 RAs) that are recommended in the treatment guidelines by the American Diabetes Association as well as the American Association of Clinical Endocrinology (AACE) Consensus Statement & European Society of Cardiology for type 2 diabetes mellitus patients with co-morbidities, like established atherosclerotic cardiovascular disease and obesity.6,7,8,9

-          Lirafit™ will sharply lower the daily cost of therapy by around 70% to around INR 100; making the drug more accessible to a larger number of patients with type 2 diabetes mellitus in the country.

Glenmark Pharmaceuticals Ltd. (Glenmark), a research-led, global pharmaceutical company, has launched a biosimilar of the popular10,11 anti-diabetic drug, Liraglutide, for the first time in India. The drug is being marketed under the brand name Lirafit™ following the approval from the Drug Controller General of India (DCGI). Priced at around INR 100 for a standard dose of 1.2 mg (per day), this will lower the cost of therapy by approximately 70%, and will be available only under prescription.

Liraglutide belongs to the class of glucagon-like peptide 1 receptor agonist (GLP-1 RA) drugs, which increase glucose-dependent insulin secretion and decrease in appropriate glucagon secretion.12,13  It has been approved globally for the management of type 2 diabetes mellitus in adult patients in the United States and the European Union.14

“Glenmark is proud to introduce Lirafit™, a novel and affordable biosimilar of the drug liraglutide, for the first time in India. Clinical trials have shown that it helps improve glycemic control in adult type 2 diabetes mellitus patients along with atherosclerotic cardiovascular diseases (ASCVD) and obesity.1-5 Liraglutide has also proven to have a positive impact on cardiac and renal safety outcomes among patients in clinical trials, making it an effective choice of treatment for patients with type 2 diabetes mellitus.4,5,7,14,15 With this launch, we have now ventured into the injectable anti-diabetic market taking another significant stride in the diabetes therapy space,” remarked Alok Malik, President and Business Head ? India Formulations, Glenmark Pharmaceuticals Ltd.

Liraglutide and its role in the treatment of type 2 diabetes

Liraglutide has a proven efficacy in improving glycemic control in patients with type 2 diabetes mellitus. Clinical trials on Indian adult patients with type 2 diabetes mellitus over a 24-week period have demonstrated Lirafit™ to be effective, safe and well-tolerated. The trials also revealed non-inferior efficacy and a safety profile with that of the reference liraglutide.16 Additional benefits of liraglutide include effectively lowering glycemic parameters, weight reduction, and cardiovascular safety in patients with type 2 diabetes mellitus2-5,13,14.           

GLP-1 RA class of drugs and their mechanism of action

GLP-1 RA (Glucagon-like peptide-1 receptor agonists) are a group of drugs used in the treatment of type 2 diabetes.13 GLP-1 RAs are very effective in lowering blood sugar levels. Several trials have demonstrated that GLP-1 RAs reduce cardiovascular risk in patients with type 2 diabetes mellitus and ASCVD or high cardiovascular risk and have beneficial effects on cardio-renal outcomes beyond their blood glucose-lowering effects in type 2 diabetes mellitus patients.17,18 Their mechanism of action involves the release of insulin, in the presence of elevated glucose concentrations, thus decreasing glucagon secretion.12,13 GLP-1 RAs are recommended in the treatment guidelines by the American Diabetes Association as well as the American Association of Clinical Endocrinology (AACE) Consensus Statement & European Society of Cardiology for type 2 diabetes mellitus patients with co-morbidities, like established atherosclerotic cardiovascular disease and obesity.6,7,8,9. The American Diabetes Association (ADA) also recommends GLP1RAs therapy for weight loss & lesser risk of hypoglycemia in type 2 diabetes mellitus patients.6,7 Drugs belonging to this class include liraglutide, semaglutide, and dulaglutide, among others.

Glenmark’s expertise in diabetes management

Glenmark has a strong legacy of bringing in new, effective, and affordable treatment options for diabetic patients, especially for those suffering from uncontrolled Type 2 diabetes. In 2015, Glenmark was the first to launch the DPP4 inhibitor, Teneligliptin (Zita Plus® and Ziten®), followed by a FDC of Teneligliptin + Metformin (Zita-Met Plus® and Ziten-M®). Glenmark later introduced Remogliflozin (Remo® and Remozen™), a novel SGLT-2 inhibitor in 2019; and subsequently, its combinations (Remo-V®, Remozen™-V, Remo MV®, and Remozen™ MV). Glenmark followed that up with the launch of Sitagliptin (Sitazit®) and its FDCs in 2022. Then came Lobeglitazone (LOBG®) and additional FDCs of Teneligliptin, including its combinations with Pioglitazone (Zita Pio™), Pioglitazone + Metformin (Zita®-PioMet), Dapagliflozin (Zita-D™), and Dapagliflozin + Metformin (Zita® DM). Liraglutide (Lirafit®), a glucagon-like peptide-1 receptor agonist (GLP-1 RA) is the latest affordable offering from Glenmark, marking its entry into the injectable anti-diabetic market.

Prevalence of diabetes in India

As per the ICMR-INDIAB study conducted between October 2008 and December 2020, the overall weighted prevalence of diabetes was 11.4%19. According to IQVIA™ sales data for the 12?month period ending August 2023 (MAT August 2023), the market for GLP-1 RA in India is estimated to be INR 259 crores, with an annual growth of 108% against the corresponding period last year (MAT August 2022).

About Glenmark Pharmaceuticals Ltd

Glenmark Pharmaceuticals Limited (BSE: 532296 | NSE: GLENMARK) is a research?led, global pharmaceutical company, having a presence across Branded, Generics, and OTC segments; with a focus on therapeutic areas of respiratory, dermatology and oncology. The company has 10 world-class manufacturing facilities spread across 4 continents, and operations in over 80 countries. In Vivo/Scrip 100 positions Glenmark amongst the Top 100 Companies Ranked by R&D and Pharmaceutical Sales, 2022; while Generics Bulletin/In Vivo places it in the Top 50 Generics and Biosimilars Companies Ranked by Sales, 2022. The company has also been Great Place To Work® Certified™ in India for FY 2023. Glenmark’s Green House Gas (GHG) emission reduction targets have been approved in 2023 by the Science Based Target initiative (SBTi), making it only the second pharmaceutical company in India to achieve this. The organization has impacted over 2.9 million lives over the last decade through its CSR interventions. For more information, visit www.glenmarkpharma.com. You can follow us on LinkedIn (Glenmark Pharmaceuticals) and Instagram (glenmark_pharma).

References:

*        HbA1c is the average blood glucose (sugar) levels for the last two to three months

1.        Liraglutide (Lirafit) prescribing information

2.        Nauck, M.; Frid, A.; Hermansen, K.; et al. For the LEAD-2 Study Group Efficacy and safety comparison of liraglutide, glimepiride, and placebo, all in combination with metformin, in type 2 diabetes: The LEAD (liraglutide effect and action in diabetes)-2 study. Diabetes Care 2009, 32, 84–90.

3.        Russell-Jones, D.; Vaag, A.A.; Schmitz, O.; et al. On behalf of the Liraglutide Effect and Action in Diabetes 5 (LEAD-5) met+SU Study Group Liraglutide vs. insulin glargine and placebo in combination with metformin and sulfonylurea therapy in type 2 diabetes mellitus (LEAD-5 met+SU): A randomised controlled trial. Diabetologia 2009, 52, 2046–2055.

4.        Marso, S.P.; Daniels, G.H.; Brown-Frandsen, K. et al. Liraglutide and Cardiovascular Outcomes in Type 2 Diabetes. N. Engl. J. Med. 2016, 375, 311–322.

5.        Marso, S.P.; Baeres, F.M.; Bain, S.C.; et al. Effects of Liraglutide on Cardiovascular Outcomes in Patients with Diabetes With or Without Heart Failure. J. Am. Coll. Cardiol. 2020, 75, 1128–1141.

6.        Samson SL, Vellanki P, Blonde L, et al. American Association of Clinical Endocrinology Consensus Statement: Comprehensive Type 2 Diabetes Management Algorithm - 2023 Update. Endocr Pract. 2023 May;29(5):305-340

7.        Byrne RA, Rossello X, Coughlan JJ, et al; ESC Scientific Document Group. 2023 ESC Guidelines for the management of acute coronary syndromes. Eur Heart J. 2023 Oct 12;44(38):3720-3826.

8.        American Diabetes Association Professional Practice Committee. Pharmacologic Approaches to Glycemic Treatment: Standards of Care in Diabetes-2024. Diabetes Care. 2024 Jan 1;47(Suppl 1):S158-S17

9.        Kumar V, Agarwal S, Saboo B, Makkar B. RSSDI Guidelines for the management of patients with diabetes mellitus. Int J Diabetes Dev Ctries. 2022 Dec 15;42(Suppl 1):1-30

10.     National Institutes of Health. Available from: https://www.nih.gov/news-events/news-releases/two-popular-diabetes-drugs-outperformed-others-large-clinical-trial. Accessed on 20th Dec 2023

11.     Poku C, Tahsin B, Fogelfeld L. Weight loss: lifestyle interventions and pharmacotherapy. Obesity Hypoventilation Syndrome. Academic Press; 2020: 219-234.

12.     Trujillo JM, Nuffer W, Smith BA. GLP-1 receptor agonists: an updated review of head-to-head clinical studies. Ther Adv Endocrinol Metab. 2021 Mar 9; 12:2042018821997320.

13.   Collins L, Costello RA. Glucagon-Like Peptide-1 Receptor Agonists. [Updated 2023 Jan 13]. In: StatPearls [Internet]. Treasure Island (FL): StatPearls Publishing; 2023 Jan. Accessed on 27th Nov 2023, Available from: https://www.ncbi.nlm.nih.gov/books/NBK551568/

14.   Iepsen EW, Torekov SS, Holst JJ. Liraglutide for Type 2 diabetes and obesity: a 2015 update. Expert Rev Cardiovasc Ther. 2015;13(7):753-67

15.     Mann JFE, Ørsted DD, Brown-Frandsen K, et al; LEADER Steering Committee and Investigators. Liraglutide and Renal Outcomes in Type 2 Diabetes. N Engl J Med. 2017 Aug 31;377(9):839-848

16.     Krishnan K, Raman S, Anand Moses CR, et al. Phase 3 efficacy and safety trial of proposed liraglutide biosimilar for reduction of glycosylated hemoglobin (HbA1c) in patients with Type 2 diabetes mellitus. Diabetes Res Clin Pract. 2023 Dec 5; 207:111034

17.     Tilinca MC, Tiuca RA, Burlacu A, et al. A 2021 Update on the Use of Liraglutide in the Modern Treatment of 'Diabesity': A Narrative Review. Medicina (Kaunas). 2021 Jun 29;57(7):669

18.     Yu JH, Park SY, Lee DY, Kim NH, Seo JA. GLP-1 receptor agonists in diabetic kidney disease: current evidence and future directions. Kidney Res Clin Pract. 2022 Mar;41(2):136-149.

19.    ICMR-INDIAB Collaborative Study Group. Metabolic non-communicable disease health report of India: the ICMR-INDIAB national cross-sectional study (ICMR-INDIAB-17). Lancet Diabetes Endocrinol. 2023 Jul;11(7):474-489.

Information Technology: ER&D: Well Poised For Growth Acceleration

We expect pure play engineering research & development (ER&D) companies to benefit from the likely acceleration in ER&D spend, growing digitization, and rising share of sourcing. ER&D spend has a high correlation with industry cycles and is thus prone to macro factors in the short term. But many industries like Auto are undergoing significant technology transition/disruptions that are driving higher spends on ER&D—this would negate any near-term weakness in other segments due to macro factors. Developed economies are expected to face shortage of skilled talent which will drive sustainable opportunities and sourcing from the engineering talent-rich Indian market. Nifty IT index inched up ~8%/11% in the last 1M/3M, on hopes of higher rate cuts in USA in CY24. ER&D stocks also saw a similar/better upmove which may cap any near-term upside; however, improving medium-term growth outlook would support higher valuations, in our view. We initiate coverage on Cyient with a BUY recommendation and TP of Rs2,700/share, and on LTTS with a REDUCE and TP of Rs5,050/share.

ER&D Services market well poised for growth

The ER&D Services market is set to see acceleration in growth momentum, on the back of: i) anticipated spurt in global ER&D spending, which is expected to register 8-9% CAGR over 2023-30 compared with 7-8% CAGR over 2020-23; ii) rising share of fast-growing, digital-engineering spends that are expected to clock 12-13% CAGR over 2023-30, with share inching up to ~65% of spend in 2030; iii) higher ER&D sourcing, which is likely to log ~16% CAGR over 2023-30, driven by sourcing decisions of global corporates focusing on resilience and agility post the aftermath of the pandemic, market expansion, evolving manufacturing footprint, cost dynamics, and access to new-age, digital-ready talent.

Indian ERD Service providers likely to benefit from growing sourcing trends

ER&D sourcing (captives or third-party providers) is likely to see ~16% CAGR over 2023-30, almost 2x of the global ER&D spend growth. As per the Bain report on ER&D, the sector sees far less outsourcing than the IT Services sector, which underwent a similar transformation in the 2000s. As the innovation pace hastens, enterprises are likely to see rise in sourcing, for managing skills requirement and cost & time-to-market constraints. Share of ER&D sourcing is expected to rise to 24% of the global ER&D spend by 2030 from 15% in 2023. India’s share of global ER&D sourcing is estimated to grow to 22% in 2030 from 17% in 2023, assisted by a skilled talent pool, favorable demographics, installed ER&D capacity, thriving start-up ecosystem, and talent competitiveness (upskilling/reskilling). Automotive, Software, and Healthcare & Medical Devices segments are expected to drive ~50% of the incremental ER&D spend by 2030, and players with higher exposure to such verticals are likely to benefit from this trend.

We initiate coverage on ER&D players Cyient (BUY) and LTTS (REDUCE)

ER&D players would benefit from industry growth tailwinds in the medium term, but valuations already factor this in to some extent, in our view. ER&D services stocks moved up in the last 1M/3M, on hopes of higher rate cuts in USA in CY24 which may cap any upside in the near term. However, improving medium-term growth outlook would support higher valuations. We initiate coverage on Cyient with BUY and TP of Rs2,700/sh, given relatively reasonable valuations, anticipated double-digit revenue growth trajectory, progress on margin trajectory, and steps to improve performance consistency. LTTS benefits from its strong engineering parentage and well-diversified portfolio, but given its rich valuations, we initiate coverage on the stock with REDUCE and TP of Rs5,050/sh.

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