If Taro fails to address the issues raised by the US Food and Drug Administration, it may face ban on many of its products in the US market, made from the facility at Ontorio, Canada. If Taro fails to address the issues raised by the US Food and Drug Administration, it may face ban on many of its products in the US market, made from the facility at Ontorio, Canada. If Taro fails to address the issues raised by the US FDA, it may face ban on many of its products.
Surinder Kapur, president of the company's 'vendor council,' said it has about a dozen representatives from Tata Motors and an equal number from the vendors. "We supply for about 4-5 per cent of our revenues to Tata Motors and we do not have payment issues," he said. Lumax, which derives about 15 per cent of its turnover by supplying almost half of the lighting solutions for Tata Motors worth about Rs 60 crore a year, said they had not experienced any payment issues.
Wockhardt, the Mumbai-based leading pharmaceutical and biotechnology company that is struggling to repay its nearly Rs 900-crore
Germany-based Merck KGaA, the world's oldest multinational pharmaceutical company, is eyeing to acquire a prominent Indian pharmaceutical company and established drug brands.
The merger of Pfizer and Wyeth is expected to create the second-biggest drug maker among multinational companies in India. The world's largest drug maker Pfizer yesterday announced a $68-billion acquisition of US-based Wyeth.
The 7,480 MW project will be the largest gas-fired power project at a single location in the world and will cost about Rs 20,000-25,000 crore (Rs 200-250 billion). Mukesh Ambani-controlled RIL for the supply of gas from the Krishna Godavari basin, where RIL is developing the largest gas reserves in the world. The matter is currently under litigation in the Bombay HC and a decision is expected soon.
"We are looking at an investment of several million dollars or up to a billion in the coming years, depending on how India's government allows commercialisation of the nuclear power sector," said Dennis Hays, vice-president of Thorium Power. The investments and areas of operation can be in various technologies, manpower training, fuel processing, and operation & maintenance of power plants in the nuclear sector, he added.
Anil Ambani-promoted Reliance Power is likely to announce the financial closure of its 3,960-Mw Sasan ultra mega power project (UMPP) in a few weeks.
Dr Reddy's has reached an out-of-court settlement to launch the Glaxo-patented Imitrex, a migraine drug that had annual sales of $878 million as of March 31, 2006, in the US. Experts estimate Dr Reddy's may not get more than $8-$15 million sales in 2009 since majority of sales revenue has to be given to GSK, for allowing the launch the authorised generic version.
Retail sales of Ranbaxy Laboratories, Cipla, Nicholas Piramal, Lupin and other drug makers have jumped by over 10 per cent in the domestic market despite the sales of generics or copycat versions of patented drugs falling in leading global markets such as the US and Europe.
Drug maker agrees to cooperate with Scottish investigation.
Dr Reddy's Laboratories, Nicholas Piramal and other Indian drug makers are relying on niche and smaller value, acquisition strategy for growth owing to global slowdown and failure of big-ticket acquisitions in the past.
Glenmark plans to start selling its anti-diarrhoea drug, Crofelemer, by the first-half of 2010 across the globe, except in North America, Europe, Japan and China, the company said. The confidence to sell the drug ahead of its rivals comes as the Crofelemer's original developer, Napo Pharmaceutical Inc, recently entered into a tie-up with a US-based drug maker, Salyx, for selling the drug in the US market, paving the way for Glenmark to sell it in the rest of the world.
Fearing the slowdown, hospital managements suspended some of their new medical equipment purchase plans," said A Vaidheesh, managing director, Johnson & Johnson Medical, one of the largest medical equipment companies operating in India. India's medical and hospital equipment industry, which consists of multinational players such as Siemens, Philips, Johnson & Johnson, GE Healthcare and home grown Medtronics, has an annual turnover of over Rs 5,000 crore (Rs 50 billion).
First time, an Indian court revisits a patent office order.
A segment of drug companies such as tablet and capsule makers may benefit from the government's move to review polluting status of these companies, which may help them save costs on pollution control equipment.
Ranbaxy, Dr Reddy's and other Indian drug makers may cut production as overseas buyers, hurt by the credit crunch, defer export orders. The move could also lower the country's drug exports by at least 10 per cent in the year ending March 2010, industry experts say."Many of our members have been intimated by their importers to stop shipments until further notice," said Venkat Jasti, chairman, Pharmaceutical Exports Promotion Council.
Leading power players Reliance Infrastructure and GMR Energy believe this will help ensure coal availability for their mega projects in the pipeline. "They have various proposals on their table, which are relatively cheaper when compared to the scene before the beginning of the financial crisis. However, the acquisitions will depend on the ability of the acquirers to raise funds as the banks have stopped lending at cheaper rates," said a source.
The move, which comes in the backdrop of a global slowdown, aims to improve profit margin amid falling demand for polyester products worldwide. "The company has shut down plants for manufacturing polyester filament yarn, polyester staple fibre, paraxylene, purified terephthalic acid and linear alkyl benzene. However, it is yet to close down the second units of PSF and PFY," sources said.
Drug major Wockhardt has challenged the US patent of Stalevo, a new generation combination drug for the treatment of Parkinson's disease, originated by Finland-based Orion Corporation and marketed by Novartis.
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