Ranbaxy drugs sold in the United States will be gradually rebranded as Sun Pharma treatments
Sun Pharmaceutical said Ranbaxy shareholders will get 0.8 Sun Pharma shares for each Ranbaxy share.
The move follows an FDA inspection of a Ranbaxy facility which identified significant violations of sound manufacturing practices.
The Supreme Court has asked the Andhra Pradesh High Court to take a decision within two days on a plea challenging merger of Sun Pharmaceutical with Ranbaxy.
Substandard and fake drugs are rampant in India because of the highly fragmented industry.
One of the suitors says that Ranbaxy's Indian portfolio alone is worth $2 billion, or approximately Rs 11,900 crore.
Here's a peek into the future of auto and consumer electronics.
The company said this was 'important' to reinforce the 'complete disassociation' from its erstwhile promoters -- Malvinder and Shivinder Singh.
With local companies facing stress in domestic operations, valuations are down.
'... And I don't think it really is that despite a lot going wrong.' 'Naiveté or stupidity or trusting the wrong person, the outcome is the same, which is that the group has gone to trash.' 'I'm not OK with people saying I had a role to play in crooking the system, which is not what I did.'
It has exited most non-profitable geographies and is no longer chasing acquisitions. Will the new strategy pay off?
Scientists and medical experts are concerned about how things might look next summer, a year after the Tokyo Games were postponed.
Tokyo 2020 organisers received the Olympic flame in a scaled-down handover ceremony in the Greek capital on Thursday, amid the coronavirus spread that has cast doubt on the global, multi-billion dollar event. In a brief ceremony closed to spectators in Athens' Panathenaic stadium, site of the first modern Games in 1896, the torch was received by Tokyo Games representative Naoko Imoto.
The concerns of people over farm products have led the government to instruct local authorities to halt the shipment of relevant produce if it is found contaminted with radioactive substances above the government regulated standards.
From the resurrected cash-for-votes scandal to a rigged process favouring four foreign vendors -- and from new safety concerns to the special legislation that caps the foreign suppliers' accident liability by burdening the Indian taxpayer -- the nuclear deal's future looks more troubled than ever, says Brahma Chellaney.
As Japan makes frantic efforts to deal with the nuclear radiation leaks from the Fukushima Daiichi nuclear power plant in the aftermath of earthquake and tsunami, Indian information technology firms have begun relocating the families of their Indian employees in the country.
The relationship between the Singh brothers, erstwhile promoters of Fortis Healthcare, went sour after allegations of fund diversion from the healthcare chain emerged.
US drug maker Merck & Co has called off its two-year-old research alliance with India's largest drug company, Ranbaxy. Ranbaxy and Merck's wholly-owned Indian subsidiary, MSD, confirmed the development, but declined to provide further details.
The Japanese police, dressed in protective gear, on Thursday began searching for some 2,500 people missing within a 10-20 kilometre radius of the Fukushima Daiichi nuclear power station, which was crippled by the March 11 killer earthquake and tsunami.
Another explosion rocked the Fukushima nuclear power plant in northern Japan on Tuesday, as the country continued to face the threat of a nuclear meltdown.
Japan has decided to raise the severity level of the crisis at its tsunami-crippled Fukushima Daiichi nuclear power plant to the maximum seven on an international scale from the current status of five.
The slow-moving disaster at the Fukushima nuclear plant in Japan that is spreading a cloud of anxiety across the world has forced most nations to either suspend or review their nuclear power programmes, but not India.
FDA had also issued warning letters to Ranbaxy's Paonta Sahib and Dewas facilities as it found extensive problems and deviations from manufacturing norms.
As Japan's earthquake and tsunami triggers the global nuclear industry's worst crisis, it is time for India to rethink it ambitious nuclear power programme, says Praful Bidwai
GE is also bullish on India's power sector and has chalked out plans in electricity generation from various sources such as wind, solar, gas, etc.
Pfizer, the world's largest drug company, and Wyeth have sued Daiichi Sankyo-owned Ranbaxy Laboratories in a US court for infringing the patent rights of Wyeth's drug, Rapamune.
The IPA complaint turns significant in the backdrop of increasing talk about foreign companies buying into Dr Reddy's, Piramal Healthcare and Aurobindo.
In a twist to the tale of drug patent infringement cases in the United States, Indian drug company Lupin has sued Ranbaxy Laboratories, which is now controlled by Japanese drug major Daiichi Sankyo, in an American court.
Malvinder steps down as CMD four years ahead of schedule.
Aurobindo pharma, cipla, orchid chemicals are the prominent takeover targets.
Japan marks the fourth anniversary of a quake-tsunami disaster that swept away thousands of people.
India's largest drug manufacturer, Ranbaxy Laboratories, had falsified data and test results of medicines manufactured at its Himachal Pradesh facility to obtain marketing approval in the United States, says the US Food and Drug Administration.
Ranbaxy has six-month exclusive marketing right to anti-herpes Valtrex.
WakeupWalmart.com, an anti-Wal-Mart website which belongs to the United Food and Commercial Workers Union, came out with a report two days ago titled, 'Wal-Mart's vaunted $4 prescriptions supplied by disgraced Indian manufacturer.' UFCW claims to have a membership of over 1.3 million workers in the US and Canada. WakeupWalmart.com mainly campaigns for the rights of Wal-Mart employees and consumer interests.
The reason for their silence is that the Ranbaxy deal has not hurt the interests of most sections of the voting community. Let alone farmers, even the urban voters are not bothered by the deal as it has no direct adverse impact on them.
In order to push more long-term products, insurers are trying to push long-term unit-liked plans by giving incentives to agents who sell Ulips with higher tenure.
'It might take 10 years before medicines of decent quality and price reach right down to the last village of India. Ranbaxy, with its India focus, intends to get there in five years.'
Ranbaxy's investment in the six-year-old joint venture for the 50 per cent stake is estimated at Rs 30.5 crore (Rs 305 million). Industry sources said the deal was unlikely to impact Ranbaxy's financials as revenues and investment in the joint venture was not significant. Sources said revenues from NPI were only $25 million in 2007 through the sale of four generic products.
The Securities and Exchange Board of India is looking into the possibility of price manipulation in the shares of Ranbaxy Laboratories. Sources familiar with the developments said a couple of market intermediaries may find the going tough, with the market regulator asking for data on the share price movements before the announcement of Daiichi-Sankyo's acquisition of the Ranbaxy promoters' stake last week.
Insurance companies, which are major shareholders in the country's biggest drug maker Ranbaxy Laboratories, said they will sell part of their stake in the company to the highest bidder.
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