US-based Merck is confident that its cervical cancer vaccine Gardasil will help it to secure a position among the country's top five drug companies in the next five years.
The smaller players in the business - combined under the Small Pharmaceutical Industries Confederation - have raised objections to the proposed Uniform Code of Pharmaceutical Marketing Practices.
Last week, scientists working with the Institute of Genomics and Integrative Biology (IGIB) in New Delhi decoded the genome of a 52-year-old man from Jharkhand after nine weeks of study -- a first in the country. The feat has helped India join a select club of countries -- the US, UK, Canada, Korea and China.
Indian medicine accounted for over 50 per cent of all drug seizures in Europe for intellectual property rights violation last year. Industry experts said this indicates the seriousness of the problem. This data was revealed in the recently-released 2009 report of the European Union on the customs enforcement activities of its member states.
The corporate affairs ministry and the Institute of Chartered Accountants of India (ICAI) are confident of meeting the April 2011 deadline to shift to International Financial Reporting Standards (IFRS).
The government has begun work on expanding the country's National List of Essential Medicines, which was last revised in 2003.
The controversial issue of exclusivity of drug-trial data -- which saw overseas multinational companies and Indian pharma companies taking opposite positions -- is back on the table.
The central government is planning to mandate biometric identification for clinical trial volunteers in the country to bring in global standards and to weed out unethical practices in the industry, which is less than a decade old.
After decades of hunt for fortune abroad, India's pharmaceutical companies now plan to strike gold in their own backyard. Large players from Ranbaxy to Dr Reddy's and Piramal Healthcare are all headed to rural India to boost their revenues.
Ranbaxy has six-month exclusive marketing right to anti-herpes Valtrex.
'It might take 10 years before medicines of decent quality and price reach right down to the last village of India. Ranbaxy, with its India focus, intends to get there in five years.'
Unregistered sources of consignment raise quality questions.
This is in the backdrop of the arrest of R Vasudevan, the seniormost CLB member, on November 24. This has left the board with just two members to hear the pending cases that run into thousands.
Ranbaxy, originally promoted by the Singh family, was acquired by Japan's Daiichi Sankyo late last year.
The IPA complaint turns significant in the backdrop of increasing talk about foreign companies buying into Dr Reddy's, Piramal Healthcare and Aurobindo.
Institute of Chartered Accountants of India has sought broad-ranging information about the association of its member institutions with foreign auditing firms.The move assumes significance following the accountancy fraud by the promoters of Satyam Computers that brought the role of auditors under scrutiny. The auditors concerned were associate firms of international auditing entity PricewaterHouseCoopers.
There are three Price Waterhouse firms and four Price Waterhouse & Co firms in PriceWaterhousCoopers' network of firms in India. Each firm is a separate partnership firm, with a maximum of 20 partners each, with head offices in the cities in which they are registered. Each of these is registered with ICAI. The Pricewater House registered in Bangalore had audited Satyam.
Although India is the second largest generator of environment-friendly projects, domestic firms, public and private, are shying away from maximising the monetary benefits derived from such carbon emission reductions. The country, which is second only to China in terms of generating of carbon credits through the introduction of low polluting technologies, ranks very low when it comes to encashing of these credits through carbon trading.
The government had removed all directors related to the Raju family from the board of Satyam before it was handed to the Mahindra group.
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.
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