Reliance Power (R-Power), the Reliance-ADAG group company, which plans to set up 28,000 mw of power plants in India, has secured $1 billion (or around Rs 4,200 crore) funding from three Chinese banks for the Sasan ultra mega power project (UMPP) in Madhya Pradesh.
In partnership with different US firms, two companies belonging to Reliance Anil Dhirubhai Ambani Group (ADAG) have submitted competing bids for a single project floated by the Ministry of Coal.
Indian companies led by Anil Ambani's Reliance Power (RPower), Nuclear Power Corporation of India (NPCIL) and Bharat Heavy Electricals (BHEL) plan to invest over Rs 100,000 crore in the next five years to expand their presence in the nuclear energy sector after the country signs the nuclear agreement with the US, paving the way for import of fuel and transfer of technology.
Pharmaceutical companies in the country offering any financial incentive to doctors to prescribe particular drugs may become a thing of the past if the drug manufacturers decide to follow the strict code of conduct being implemented by a US industry trade group.
Glenmark Pharmaceuticals (Glenmark), which reorganised its speciality and generics businesses recently, is looking to acquire a medium to large-scale speciality pharmaceutical company in the US.
Days before the national biofuel policy is taken up by the Union Cabinet, the Confederation of Indian Industries has demanded incorporation of enough "flexibility in the biofuel blending mandate" based on the availability of such fuels.
Amid reports of a US Congress probe against India's largest drug maker Ranbaxy Laboratories, data show that many leading multinational companies such as Pfizer, GlaxoSmithKline, Novartis and Merck are also under the scanner of the US drug regulator, for more or less similar violations as Ranbaxy is alleged to have committed.
The pharmaceutical industry is expected to continue with its good performance in the first quarter of 2008-09 with over 25 per cent growth in revenues and about 45 per cent rise in net profit riding on better sales in the domestic and export markets. The industry will gain from the the depreciation of rupee as well.
Experts said it is the first time that an Indian pharmaceutical company has been charged with such serious offences, and that the firm may be prosecuted if the allegations are proved. Able Labs of the US, now a unit of Sun Pharma through an acquisition in 2005, had to face similar charges in 2004-2005.
Pharma major denies charges, to file response soon.
According to the latest data from the Ministry of Water Resources, the water storage position in major reservoirs has gone down to a record low of 34.86 billion cubic metres (bcm) -- about 22 per cent of the total storage capacity of 151.76 bcm of all the 81 reservoirs taken together. The storage level was above 26 per cent last year. Of the total 81 reservoirs in the country, 36 have significant hydro power potential with an installed capacity of more than 60 Mw each.
Tanti, who acquired Germany's REpower Systems last year, today announced plans to buy Chinese wind energy company Honiton Energy Holdings. The acquisition will be concluded through Colossus Holdings, a Singapore-based holding company of the Tanti group, and Bahrain-based private equity company Arcapita Bank for over $500 million (Rs 2,162 crore), sources said.
The voluntary move comes a little more than a year after the Central Drugs Standard Control Organisation, the central authority that approves new drugs for marketing, had asked the drug makers to withdraw the 'combination drugs' as they are 'unnecessary' and may pose health hazards. The Drugs Controller General of India had banned 294 combination drugs sold under nearly 1,053 brand names from the market in June 2007.
"Sooner or later, a greater part of our businesses will surely be taken up by the exchange, a more transparent platform," said a senior official from PTC India Ltd, the country's largest power trading company that accounts for about a quarter of the total volume of electricity traded in the country. Interestingly, PTC is one of the co-promoters of the exchange. Another major player in the power trading sector, NTPC Vidyut Vyapar Nigam Ltd, has confirmed similar apprehensions
Aurobindo pharma, cipla, orchid chemicals are the prominent takeover targets.
Health experts point out that it will take decades for India to reach the level of health education and infrastructure in developed countries. Our per capita health expenditure is estimated at $23, which is only 6.1 per cent of the gross domestic production.
"We are looking at targets with a bottom line of Rs 50-60 crore (Rs 500-600 million) to expand our CRAMS business in various markets," said Ashok Shinkar, director, Wanbury. The company plans to increase its turnover to over Rs 900 crore (Rs 9 billion) within the next three years.
According to analysts, Indian drug makers are forging alliances with overseas companies such as CD Pharma, Gnosis SpA, Crawford Healthcare and Syrio Pharma to sell drugs for chronic and acute cases. According to analysts, Indian drug makers are forging alliances with overseas companies such as CD Pharma, Gnosis SpA, Crawford Healthcare and Syrio Pharma to sell drugs for chronic and acute cases.
Voveran, Novartis India's flagship pain killer medicine, has become the largest selling domestic drug with sales of more than Rs 11 crore (Rs 110 million) in March 2008, displacing Pfizer India's cough and cold syrup Corex, which had sales of Rs 10 crore (Rs 100 million). Cipla, on the other hand, maintained its leadership position as the largest domestic pharmaceutical company edging out Ranbaxy Laboratories with a market share of 5.24 per cent.
Even as a heated debate goes on in the corridors of power and academic circles on the impact of large retail chains on small shops, in one sector it is clear that the big players are close to biting dust. At least two large pharmacy chains are up for sale, industry sources said. Some others have shaken up their top management, while a few have cut back on their expansions. One is trying to rediscover its business model by looking at rural markets. And all are woefully short o
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