Tata Power Company, the largest private sector power player in the country, plans to divest part of its stake in group companies Tata Teleservices and Tata Teleservices (Maharashtra) to raise about Rs 2,000 crore for funding its ongoing projects, said informed sources.
The less-than-anticipated results of a few big-ticket acquisitions made in the previous year earlier also acted as a dampener. Piramal Healthcare, Biocon and other drug makers spent about Rs 1,800 crore (Rs 18 billion) in 2008 for acquiring assets abroad, compared to more than Rs 5,500 crore (Rs 55 billion) spent in 2007 in 14 such major deals, according to Business Standard data.
Roche expects to start selling Actemra by April 2009, company sources said. India will be the second country to launch the drug, Japan being the first. The Indian drug regulator Drug Controller General of India usually approves a new drug marketing application based on safety and efficacy data cleared by regulators in the US, EU and other developed countries.
Bangalore-based Healthcare Magic, a first-of-its-kind, real-time, medical consultation portal, will soon tie up with Reliance Communications, the country's second-largest mobile service provider, to launch a Doc On Call service by December this year. Any call made to Healthcare Magic will be attended by a doctor on duty at the the company's Bangalore office.
Dow Chemicals' acquisition of the Indian born billionnaire Raaj L Gupta headed speciality chemical company Rom and Haas for over $18 billion, is likely to impact its proposed joint venture with Reliance Industries (RIL) and expansion plans in India worth over $100 million.
US giant expected to bid for 65% non-promoter stake.
The Singapore government-controlled Temasek Holdings, which controls over 90 per cent of power generation and distribution in Singapore, will soon call for bids to privatise the two companies. The Indian companies are exploring various options to bid for these assets, said sources familar with the developments. Spokespersons of both Reliance Power and GMR Infrastructure declined to comment.
Israel's pharma firm, Teva, is planning to invest Rs. 4000 crores in India.
Govt has given the medicine price regulating body a freedom to control prices of medicines.
Indian Pharma majors are looking at different strategies to boost their global business.
Oil and Natural Gas Corporation (ONGC), the country's leading public sector company, is planning an initial public offer of ONGC Petro-additions Limited (OPaL), the special purpose vehicle formed for the Rs 13,500 crore (Rs 135 billion) petrochemical complex at Dahej in Gujarat.
The Kurkumbh unit, which manufactures MEG from industrial alcohol, has 90 employees on its rolls and another 250 contract labourers.
Medicine Shoppe India, the Indian arm of the largest pharmacy chain Medicine Shoppe International, owned by the US-based drug trading major Cardinal Health, is planning to add about 500 medical stores in India within two to three years.
Small scale pharmaceutical units in the country are facing an imminent closure owing to lack of business opportunities and hostile regulatory policies.
Orchid Chemicals and Pharmaceuticals has announced the formation of Orchid Research Laboratories, a subsidiary that will house all of Orchid's research and development activity.
Competing with established biotech companies in India such as Wockhardt, Biocon and Reliance Life Sciences, small biotech companies such as Zenotech, BV Biocorp and Intas Biopharma are likely to emerge as major players in biogeneric drugs.
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