In a victory for Indian drug companies, patent protection has been refused to Tenofovir, an anti-AIDS medicine of the US-based Gilead Sciences. The decision was taken by the patent office in New Delhi.
No other state has issued a similar order banning new licences to medical shops.
The move signals that the ministry has begun to take a tough stand on environmental clearances in ecologically sensitive areas.
PLSL's lead molecule under development for cancer treatment has completed two Phase-I studies.
Washington-based Pharmaceutical Research and Manufacturers of America (PhRMA), the representative body of US-based drug firms, has said it does not support the seizure of legitimate generic medicines meant for developing country destinations.
JSW Energy aims to generate 11,390 Mw in the country by 2015. The company has tied up with two consortiums of lenders, led by IDBI Bank and State Bank of India, respectively, for the loans. It had recently filed a draft red-herring prospectus for a Rs 3,000 crore (Rs 30 billion) public offering with market regulator Securities and Exchange Board of India.
Carlos M Correa of Brazil, a patent expert of international repute whose views have been widely quoted by the Mashelkar committee to support its conclusions, has complained of 'misinterpretation' of some quotes from a published article titled 'Integrating Public Health Concerns into Patent Legislation in Developing Countries'.
Mumbai-based Ajanta Pharma has tied up with the Canadian vaccine maker, Medicago Inc, to commercialise Medicago's pandemic and seasonal influenza vaccines in India and other territories.
GlaxoSmithKline Plc's anti-migraine drug brand, Imitrex, is turning out to be a good revenue earner for Indian generic companies.
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.
Sources said the company had already secured the required funds for payments due during the current year and might wait for higher valuations for assets that were on the block. Under the CDR, Wockhardt has to divest its non-core assets at an estimated value of Rs 790 crore (Rs 7.9 billion), but the company has been given six years to complete the transaction.
With entrepreneurs like Maganti drawing up aggressive plans, India has added 10,000 to 15,000 beds every year over the past five years.
Regulators tighten net on safety grounds.
However, the company will go ahead with its plans in Jharkhand, and has secured iron ore mines and coal linkages to the project, company sources told Business Standard. An e-mail reply from the steel major said it was not expecting its projects in India to start before 2014.
Wockhardt Chairman Habil Khorakiwala can breathe easy, as bankers have approved the debt restructuring package he had sought three months ago.
Fortis Healthcare, promoted by former Ranbaxy owners Malvinder Singh and Shivinder Singh, will raise Rs 1,000 crore (Rs 10 billion) through a rights issue by the first week of August, to fund its expansion plan.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances