Ranbaxy, its partners and Actavis have signed a non-exclusive agreement.
The US Congressional committee, which is inquiring into the country's Food and Drug Administration's handling of drug-marketing approvals of India's leading drug-maker Ranbaxy, has extended its probe into similar permissions given to Iceland's Actavis.
Of the top-10 global biotech companies, the biggest two -- Amgen and Biogen -- have already set up wholly owned subsidiaries in the country.
Ranbaxy is understood to have emerged as the sole Indian pharma entity to have moved into the next round of bidding for the generic business of Merck, even as compatriot Cipla claimed to be "very much in the race."
Details on prices sought as 10 generic drugs become up to 83 times costlier in 6 months
One reason Japan is betting highly on Indian pharma is that these companies have strong cash flows, low leverage and high debt capacity for medium to large sized acquisitions.
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According to information available on the European Commission website, Ranbaxy Laboratories has been fined euro 10.32 million (over Rs 80 crore).
The number of small units has come down drastically, as large companies have expanded their manufacturing capacity.
The deal would involve Pfizer paying with 11.3 of its shares for each Allergan share.
Markets across the globe are rallying on hopes that the US Federal Reserve won't lift interest rates until 2016.
Dinesh Patel, Utah's most high profile and influential Indian American, was conferred the Willem J Kolff Lifetime Achievement Award at BioUtah's 2013 Utah Life Science Award, the state's top science award ceremony.
'Pay-for-delay' settlements between drug patent-holders and generics manufacturers to delay the launch of cheaper generic medicine are increasingly being scrutinised by antitrust regulators
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