Import alert on unit-6 facility might be lifted by FDA by Sept.
Reebok's staff to get voluntary retirement option, stores may be reduced by a third.
Drug maker Cipla Ltd is rejigging its China business. The pharma company recently exited a significant part of its investment in its Chinese partner Desano Holdings, while ploughing back a part of the funds into the group's units manufacturing biosimilars and active pharmaceutical ingredients (APIs).
Companies such as Dr Reddy's Laboratories, Sun Pharmaceutical, Lupin and Ranbaxy striving to capitalise on opportunities created by pro-generic health care reforms in the US market are facing pricing pressure as the health care supply chain is undergoing consolidation.
Nestle India, the subsidiary of Swiss dairy major Nestle, is all geared to set up its ninth plant in the country. The company had acquired about 50 acres of land at Sanand, nearly 30 kilometres from Ahmedabad, for a manufacturing plant, said Gujarat government officials.
Companies say they follow global standards in India as well
In a major relaxation of foreign investment rules in the pharma sector, a special group set up under the finance ministry has suggested it could consider permitting up to 49 per cent FDI (foreign direct investment) in the automatic route for brownfield investments in case the company's control remained in Indian hands.
This move could cost $299 million a year for Indian pharma players.
The upside for Ranbaxy Laboratories is likely to continue even as it loses its 180 days of marketing exclusivity for the Lipitor generic in the American market.
Both the units were under the scanner of FDA since 2011.
Decision on probing the role of auditors will be taken after initial inquiry
The investigative arm of corporate affairs ministry says there may also be involvement of others in alleged fraud, besides top executives.
The double whammy of spiralling petrol prices and volatile interest rates on loans is driving car buyers to make payments out of their pockets rather than opting for bank loan.
Hero Electric is set to test waters in the European markets with electric bikes
According to a Pricewaterhouse Coopers Report titled 'India Pharma Inc: Capitalising on India's Growth Potential', leading pharmaceutical companies in the country have increased their sales forces by around 50 per cent in 2010.
While emerging markets have traditionally been recipients of the older cast-offs from the developed markets, in India it is completely different.
Hopes to launch e-scooters within two years
GM India is working on launching a BS-IV variant of the car, but is in no hurry.
Bosch Rexroth (India) Ltd, a subsidiary of German automation giant Bosch Group, a drive and control solutions for industrial applications, has bought private land near the Tata Nano site in Sanand recently with plans to set up its second manufacturing unit in the state.
In the past one year, the share of state-run banks in auto finance has increased significantly, and in some cases nearly doubled, on the back of competitive rates offered by banks such as State Bank of India.
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