India emerging as a big global destination for contract manufacturing, unlike R&D outsourcing.
This increase is despite the decreased growth of drug sales in the US - the world's largest market - which has seen a tightening of regulations and aggressive competition.
Leading Indian drug majors, such as Ranbaxy Laboratories, Dr Reddy's Laboratories, Piramal Healthcare and Wockhardt, are in-licensing popular products from overseas drug makers to boost their domestic sales.
After decades of hunt for fortune abroad, India's pharmaceutical companies now plan to strike gold in their own backyard. Large players from Ranbaxy to Dr Reddy's and Piramal Healthcare are all headed to rural India to boost their revenues.
Details on prices sought as 10 generic drugs become up to 83 times costlier in 6 months
The CoWIN portal will be made available in Hindi and 14 regional languages by next week, while 17 more laboratories will be added to the INSACOG network to monitor the variants of COVID-19, the health ministry said on Monday.
The Sensex gained 41 points to hit a new high of 7,797.
Shree Cement beats ACC in market value, Lupin ahead of Dr Reddy's Labs
For instance, Dr Reddy's Laboratories has six active pharmaceutical units in Andhra Pradesh. The waste streams from the API units mostly contain potassium sulphate, caustic lye, potassium chloride, potassium sulphate and sodium sulphate salts.
If most of the top 10 Indian drug companies were less than Rs 500-crore (Rs 5-billion) turnover ones a decade earlier and were focused only on domestic business, now they are companies with annual businesses ranging from Rs 2,000-Rs 6,000 crore (Rs 20-60 billion) and with operations spanning 60-100 countries and employing 3,000-5,000 people.
An analysis of the growth rate of 15 leading drug companies for the third quarter of 2008-09 show excellent performances in domestic turf have been often marred by the poor show of their acquired assets.
'There is no doubt he is with the Lord in heaven. He loved people and people poured their love on him. It was the people's love that got him elected as chief minister for a second term.'
The 60-year-old Y S Rajasekhara Reddy's untimely death in a helicopter crash has robbed Andhra Pradesh, and the Congress party, of a charismatic leader
'They should have flown either to Tirupati or Chennai by regular flight and then taken a helicopter from there. Aircraft are much safer than helicopters.'
The 30-share BSE Sensitive Index is down 18 points at 9377. NSE Nifty is down 6 points at 2836.
Stringent regulatory norms and the financial impact of the global credit crisis on some research companies may hurt half a dozen molecules of Indian companies, such as Glenmark, Nicholas Piramal and Ranbaxy Laboratories, that are close to launch, experts and analysts said.
"It is unrealistic to expect that COVID-19 pandemic can be eliminated at this stage given that community transmission is already well-established across large sections or sub-populations in the country," the report said.
Dr Reddy's Laboratories, Nicholas Piramal and other Indian drug makers are relying on niche and smaller value, acquisition strategy for growth owing to global slowdown and failure of big-ticket acquisitions in the past.
Ranbaxy, Dr Reddy's and other Indian drug makers may cut production as overseas buyers, hurt by the credit crunch, defer export orders. The move could also lower the country's drug exports by at least 10 per cent in the year ending March 2010, industry experts say."Many of our members have been intimated by their importers to stop shipments until further notice," said Venkat Jasti, chairman, Pharmaceutical Exports Promotion Council.
Officers sitting over untapped potential to make COVID-19 vaccines need to be charged with 'manslaughter' as it is leading to so many deaths, the Delhi high court said on Wednesday, observing that a lot of scope and infrastructure is available in India which is not being used.
IT sector's trading multiples hit post-Lehman lows, providing good entry points.
Dr Reddy's Laboratories, Jubilant Organosys, Orchid Chemicals, Aurobindo Pharma and Shasun Chemicals and Drugs are among those who have borrowed either to expand locally or to acquire companies abroad, but are now struggling to repay the dues, analysts say. Some of the companies' debt now exceeds their market capitalisation, as local and global investors sold stocks on concerns over slowdown and falling revenues. A few drug makers may be forced to sell assets to repay debt.
'Had there been an involvement by the Naxalites, we would have had some communication by now. Since there has been no communication, I can say that they may not be involved or behind this incident,' Union Home Secretary G K Pillai tells rediff.com
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
The ability of Indian pharmaceutical companies to command higher margins in international markets is helping sustain business.
Auto, pharma, IT, chemicals among sectors with significant reliance on UK and European nations with Tata Motors, Motherson Sumi, Tata Steel, TCS, Wipro, Infosys and Tech M among key names.
Pharma companies gear up for the 'new normal' as they train and align their sales forces for a paradigm shift. GSK leads the charge with staggered return-to-work, others plans yoga sessions and health care webinars for salesperson's family.
Planning Commission Deputy Chairman Montek Singh Ahluwalia had misgivings on how and why the chief minister could raise so much money by selling government land, but eventually cleared the annual plan that was promised to be funded by a 32 per cent increase in the state's tax revenues. He put on record his doubts in a 3-page communication to the prime minister on April 23, 2008, a copy of which is with rediff.com
Pharmaceutical majors like Ranbaxy, Dr Reddy's Lab, Wockhardt, Glenmark and Sun Pharma are now treading a careful patent litigation path in the US market to expand their generic business instead of the aggressive patent challenges they pursued until a few years ago.
Dr Reddy's has reached an out-of-court settlement to launch the Glaxo-patented Imitrex, a migraine drug that had annual sales of $878 million as of March 31, 2006, in the US. Experts estimate Dr Reddy's may not get more than $8-$15 million sales in 2009 since majority of sales revenue has to be given to GSK, for allowing the launch the authorised generic version.
Reserve Bank of India Governor Y V Reddy has been awarded an honorary fellowship by the prestigious London School of Economics and Political Science for his contribution to the cause of the under-privileged.
Glenmark plans to start selling its anti-diarrhoea drug, Crofelemer, by the first-half of 2010 across the globe, except in North America, Europe, Japan and China, the company said. The confidence to sell the drug ahead of its rivals comes as the Crofelemer's original developer, Napo Pharmaceutical Inc, recently entered into a tie-up with a US-based drug maker, Salyx, for selling the drug in the US market, paving the way for Glenmark to sell it in the rest of the world.
Multinational drug manufacturers such as Pfizer and DSM are increasingly getting into contract manufacturing alliances with emerging bulk drug makers in the country, bypassing established players such as Ranbaxy and Dr Reddy's.
Two years after India entered the product patents regime, the year 2007 saw Indian drug firms striving to shed the copycat image and become innovators with emphasis on research activities even as they resisted moves to include more medicines under price control.
The benchmark indices fell as Sebi cracked down on 331 suspected shell companies listed on exchanges.
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.
While there has been no commitment from the government on the procurement of vaccines, initial volumes, or distribution plans, there is a likelihood that the low interest loans may be made available to these players only when the time to scale up manufacturing arises.
In a continuing trend for the previous two quarters, foreign currency fluctuations and mark-to- market losses are affecting profits of India's drug makers, despite increase in net sales ranging between 4.5 and 42 per cent for most of the firms during the three-month period.
