The central government's decision to stockpile another 20 million capsules of generic Tamiflu (Oseltamivir) to strengthen its preparedness to fight the H1N1 epidemic has alerted domestic pharmaceutical companies.
Despite the best efforts of Indian vaccine makers to develop the H1N1(swine flu) vaccine, Swiss drug major Novartis and Australian vaccine maker CSL may be the first ones to bag the orders from the central government for its supply.
The change of mind among Indian experts is based on a recent decision of the UK high court.
Pharma industry lauds idea, but suggests looser rules on ground
The government is planning to approach the dispute settlement body of the World Trade Organization against frequent seizure of Indian medicines at various European ports.
Indian drug companies, which have introduced copies of biotechnology drugs in the country, are bullish over the marketing prospects of 'biogenerics' after patents expire in developed markets. Experts say Indian companies may not repeat the success they achieved in selling generic medicines in biogenerics. The cost of clinical trials and the absence of substitutability will ensure that only those with deep pockets to launch such products globally will succeed, they feel.
Pfizer, the world's largest pharmaceutical company, has filed patent infringement suits against Sun Pharma, Wockhardt Ltd and Lupin Ltd to prevent these companies from securing marketing approvals for the generic equivalents of its high-selling neuropathic pain management drug Lyrica in the United States.
In yet another setback to Swiss drug multinational Novartis AG, the Indian patent office has rejected its application to secure a patent for an alfa crystal form of its blockbuster cancer medicine, Glivec.
Recently, DLF, the country's largest real estate developer, wrote to buyers of its new housing project in Gurgaon about a cut in apartment prices by 20 per cent. According to the new plan, buyers will get 5 per cent discount over the basic sale price, another 10 per cent as timely-payment rebate and an increase in the compensation rate for delay from Rs 5 per sq ft per month to Rs 10 per sq ft per month.
This comes right after DLF, the largest property developer, brought out a range of measures to soothe restive customers at a couple of other housing projects at Gurgaon. The Unitech customer ire is due to alleged delay in completion of World Spa, apartments and villas that carry an average price tag of over Rs 1 crore (Rs 10 million) per unit.
DLF, the country's biggest property developer, may announce a "relief package" for customers of its second Gurgaon project, 'Express Greens', a few days after it announced a similar package for those who had booked at its 'New Town Heights' residential project, also in Gurgaon.
Unitech is pinning its hopes on the sub-Rs 5 lakh category of flats to counter the slowdown in the property sector. So are a host of others. Apart from Unitech, others such as Omaxe, Raheja, Tata Housing and Ansal API are planning new projects in the suburbs of satellite towns or smaller cities to target the bottom segment, to generate more cash.
The move comes in the backdrop of the failure of the health ministry's World Bank-sponsored National Pharmacovigilance Programme to generate sufficient ADRs from select medical colleges. The central government also intends to provide financial support to institutions to run such monitoring centres. The health ministry has asked the finance ministry to introduce a budgetary head specifically for ADR monitoring, to ensure sustained government funds for the project.
At least a dozen global firms, including Roche, Pfizer and Astra Zeneca got a nod from the Drugs Controller General of India to conduct over 50 clinical trials on Indian volunteers this month, official data reveals. The global clinical research outsourcing market is projected to touch $23 billion by 2011, with consultancy firm KPMG estimating that India will corner 15 per cent of this in two years.
Despite the ongoing trouble India's largest drug maker, Ranbaxy, is facing in the United States, domestic pharmaceutical companies are betting high on the world's largest drug market with added vigour.
The shareholders want Daiichi to offer the same price (Rs 160) that was offered by Ranbaxy while acquiring a 45 per cent stake in Zenotech a year ago. Daiichi has to make an open offer as it has indirectly become the major shareholder of Zenotech by virtue of the Ranbaxy acquisition.
India's largest drug manufacturer, Ranbaxy Laboratories, had falsified data and test results of medicines manufactured at its Himachal Pradesh facility to obtain marketing approval in the United States, says the US Food and Drug Administration.
At least 38 per cent, or 8.3 million square feet, of its projected commercial space of 21.4 million square feet in its six parks will thus remain indefinitely on hold. The rentals from all these parks were expected to generate revenues for its AIM-listed associate Unitech Corporate Park, which has invested pound 317 million to acquire majority stakes in all the six seed projects in return of leasing rights.
The move comes 18 months after the cash-strapped developer was allotted 35 acres by the Delhi Development Authority to build and maintain an international convention & exhibition centre, hotels and allied commercial facilities. The cost of the project is estimated at Rs 6,000 crore (Rs 60 billion) and was expected to be completed in three years.
Ever since the government announced that state-owned banks will provide home loans up to Rs 20 lakhs (Rs 2 million) at not more than 9.25 per cent for the first five years, real estate developers have started working their prices around the Rs 20-lakhz (Rs 2-million) figure. Dozens of real estate developers have announced homes at below Rs 25 lakhs (Rs 2.5 million) in the National Capital Region of Delhi.
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