While the April to September period (H1) saw as many as eight major deals worth over Rs 5,000 crore (Rs 50 billion), the second half of the year saw a sharp drop in the value of such deals to about Rs 1,500 crore (Rs 15 billion). Though the number of deals in H1 and H2 is almost the same, the sharp decline in value in the second half indicates a clear change in outlook and strategy of companies, say industry experts.
In a move likely to influence future drug price regulation in the country, the National Pharmaceutical Pricing Authority (NPPA) has started a process to understand how other countries carry out this function.The authority has already studied the relevant regulatory systems in at least eight major countries. It has also finalised a round-table meeting on April 11 in New Delhi to sensitise stakeholders on the need to have an international outlook.
Novartis India is up in arms against a two-month old decision of the National Pharmaceutical Pricing Authority to reduce the price of its flagship brand Voveran on public interest grounds. The annual sales of Voveran, the brand name for pain reliever medicine diclofenac, exceed Rs 100 crore and account for one-fourth of the company's total sales turnover. The company has filed a review petition with the chemicals and fertilisers ministry against the authority's decision.
The Department of Industrial Policy and Promotion (DIPP), the nodal department that handles intellectual property rights (IPR) related matters under the commerce ministry, is launching an ambitious Rs 300-crore (Rs 3 billion) project to sensitise all stakeholders, including law enforcement agencies, scientists, companies, ministries and the general public on IPR issues.
Reliance Power Limited, the flagship company of the Reliance Anil Dhirubhai Ambani Group (ADAG), plans to invest about Rs 2,500-3,000 crore (Rs 25-30 billion) over a period of three years, to develop three coal mines to fuel its Sasan Ultra Mega Power Project in Madhya Pradesh. Reliance Power currently has access to coal reserves of about one billion tonnes in India and abroad, including a coal mine in Indonesia, which it acquired recently.
Sixth Pay Commission has urged the government that all Indian Telecom Service (Group A) officers be absorbed in the public sector telecom service providers, Bharat Sanchar Nigam Ltd & Mahanagar Telecom Nigam Ltd, or sent to the surplus pool. It has also suggested winding up of the Telecom Commission saying BSNL and MTNL now provide extensive services along with several private sector operators. The report states there is no need to retain the 2400 cadre strong-ITS (Group A).
The US Food and Drug Administration (USFDA) has asked Caraco Pharmaceutical Laboratories, the US subsidiary of Mumbai-based Sun Pharmaceuticals Industries, to withdraw many batches of its generic Metformin Hydrochloride tablets used for treating diabetes, citing efficacy and quality issues. According to a USFDA Class II withdrawal announced on March 19, Caraco will have to withdraw seven lots of Metformin Hydrochloride in bottles of 100, 500 and 1000 tablets each.
Maharashtra Hybrid Seeds Company Ltd (Mahyco), the seed partner of multinational agro-biotech major Monsanto Corporation, has moved the Delhi High Court against a Central Information Commission order seeking details of the safety test data generated during clinical trials of its genetically modified (GM) brinjal, the first GM edible crop to be introduced in India.
358 of 413 drug patent applications for the disease in India are from top multinationals. An analysis of pharma patent applications pending with the patent office by the group, which did not wish to be identified, has put the number of cancer drug patent applications at 413. Of these, 358 came from top multinationals like Novartis, Aventis, Bristol Myers Squibb, Pfizer, Boehringer, Roche and Abbot.
Last month, Barun K Gorain, a non-resident Indian with Canadian company Barrick Gold Corporation came to Delhi with a $10-million proposal for suggesting a viable method to recover silver from Barrick's gold mines in Argentina.
Till some months ago, when several doctors led by Naresh Trehan left the hospital, the same area used to resemble a railway station -- such was the rush. It was a regular feature for patients to wait a couple of hours before the appointment with the doctors came through. Shivinder Mohan Singh, managing director of Fortis Healthcare which acquired the hospital from Escorts Ltd for Rs 585 crore (Rs 5.85 billion) in 2005, insists this only shows the efficiency of the doctors.
The tax holiday awarded by the Union Budget to healthcare and IT sectors has been greeted with enthusiasm. Major hospital chains had already announced plans to expand in tier 2 cities. The tax holiday has proved to be an added incentive. India needs 3.1 million new hospital beds in the next 10 years. The tax-holiday benefits are available for all new hospital projects except the ones coming up in cities like Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore & Ahmedabad.
The next time you buy a shirt or trouser that claims to be stain- and wrinkle-free, thank nanotechnology for it. The Indian government has allocated Rs 1,500 crore (Rs 15 billion) for the development of nanotechnology which involves studying and working with matter on an ultra-small scale. The nanotech market globally is expected to cross $1 trillion by 2010. In India, the maximum research in nanotechnology is taking place in the biotechnology and medicine segments.
Analysts feel this decision is yet another example of big-ticket acquisitions turning sour for Indian pharma firms, as happened in the case of Dr Reddy's acquisition of Betapharm of Germany for Rs 2,250 crore (Rs 22.5 billion).
Even as India is fast turning into the diabetes capital of the world, multinational drug companies are busy patenting new-generation diabetes medicines for exclusive marketing rights in the country.
Mumbai-based Sun Pharmaceuticals has filed a post-grant opposition with the Mumbai patent office against a product patent granted to the extended release version of Johnson and Johnson's (J&J) blockbuster drug Risperdal, used in the treatment of psychological disorders and schizophrenia.
Sun Pharma has increased its stake in Israel's Taro by buying 9.5% more, raising its total holding to 34.4 per cent.
Punjab is opposing Centre's area-based tax exemption policy while the underdeveloped states are lauding it as a "well deserved" package.
NPPA will begin analysing pricing trends of 74 bulk drugs that come under the government-notified price-controlled list every quarter.
The initiative will include special training for Customs and drug regulatory officials to identify spurious drugs, their origin, distribution chain and follow-up action to raid premises and book culprits, in coordination with regulatory and police officials of various countries.
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