Prime Minister Manmohan Singh was discharged early on Thursday morning from the All India Institute of Medical Sciences, where he underwent coronary angiography, as part of a series of heart-related tests."He has been discharged. He is hale and hearty and has gone back home," Dr K S Reddy, his personal physician, who is heading a multi-disciplinary medical team, said.The 76-year-old prime minister had undergone coronary angiography along with a series of other tests.
The recent pullout by ICICI Venture and Citigroup Venture from a three-year-old drug discovery partnership with Dr Reddy's Laboratories points to angel investors' growing aversion to risk in pharma and biotech firms, say experts.
Sales growth of generics drugs has dropped to 3.6 per cent in the 12 months ended September 2008 compared with 11.4 per cent growth a year earlier, according to the latest report of IMS Health, the leading provider of market intelligence to the global pharmaceutical and healthcare industries. However, sales by volume increased by 5.4 per cent in the US, reflecting declining prices and fewer blockbusters losing patent protection in 2008.
The Ranbaxy sale marks the end of a phase for Indian pharma, with the need to evolve the next.
Indian Pharma majors are looking at different strategies to boost their global business.
Sun Pharma was by far the biggest gainer in the Sensex pack, surging 8.13 per cent, followed by Dr Reddy's at 4.92 per cent.
The markets opened 47 points higher at 7,682.
The National Pharmaceutical Pricing Authority has revised prices of 440 medicines. Around 300 medicines have seen price cuts, while the others have seen a hike, sources said. The extent of the revisions is not known as yet.
Ranbaxy Laboratories, Dr Reddy's, Nicholas Piramal and three other Indian drug companies cut their research costs by separating the units involved in developing new drugs, thereby addressing investor concerns on low operating margins.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Experts say the stock market correction in recent times increases the risk-reward in favour of large-cap stocks.
While the private companies have to spend Rs 8-12 crore (Rs 80 to Rs 120 million) on building and other infrastructure for each school, the government would provide 30-50 acre land free of cost to the developers of these schools.
Indian auto and pharma industries import several critical components and raw materials from China.
Hetero has priced the injectable drug at Rs 5,400 per 100 mg vial. With More drugmakers in line to launch the drug soon, the prices may see a further erosion.
Replying to the debate on the motion of thanks for the Governor's address in the state legislative assembly, Dr Reddy said, "The incidents of bomb blasts at Mecca Masjid, Lumbini Park and Gokul Chat Eatery in Hyderabad were related to cross-border terrorism. Many innocent lives were lost in these incidents." "Al Qaeda, by clubbing the United States, Israel and India together unnecessarily, is targeting our country without any rhyme or reason," he said.
The move brings an additional 15 per cent of the retail medicine market worth over Rs 4,000 crore (Rs 40 billion) under direct price control. All domestic companies, including drug majors like Ranbaxy, Cipla, Lupin and Dr Reddy's, have syrups and tonics in their product portfolio.
In a letter to the prime minister, he had demanded Dr Singh to visit Mudigonda village to console the families of the police firing victims.
Karmayog, a leading NGO which recently carried out a CSR rating of top 500 Indian companies, says that only two drug companies - Dr Reddy's and Lupin - have done work on this front. While the two firms scored three out of five, 30 other drug firms failed to perform satisfactorily. Nine of the companies, including leading ones such as Nicholas Piramal, Panacea and Glenmark did not score at all.
Cymbiotics, a US-based bio-pharmaceutical manufacturer, has entered into a joint in-licensing agreement with Elder Pharmaceuticals to manufacture and market three of its drugs for pain management, diabetes and dermatology in the Indian market.
The Indian pharmaceutical companies are involved in patent litigations of a mere 40 drugs, out of the 135 known patent litigation drugs in the US. This is despite the claims by major Indian players such as Ranbaxy and Dr Reddy's at having secured over 20 first to file status abbreviated new drug applications with the US Food and Drug Administration.
Generic drug sales in the US, that power the business of such leading Indian drug manufacturers as Ranbaxy, Dr Reddy's, Sun Pharma, Lupin and Zydus Cadila, will face competition soon, as big US wholesalers decide to outsource their requirements from upcoming Indian manufacturers.
Ranbaxy Laboratories, Dr Reddy's Laboratories and Sun Pharma's US subsidiary Caraco Pharmaceuticals are among the 13 generic manufacturers to get first generic approvals from the US Food and Drug Administration to manufacture and market generic versi
Of the 30-share Sensex, 13 ended higher, while 17 led by Power Grid, Tata Steel, Bajaj Auto, Hero MotoCorp, NTPC, Tata Motors, Dr Reddy's, M&M, GAIL, Infosys and L&T finished lower, fell by up to 2.40 per cent
Justice Suresh Kait, who was hearing Chidambaram's interim bail plea, directed the Tihar jail superintendent to provide clean and hygienic surrounding to the 74-year old Congress leader as also home-cooked food, mineral water, mosquito protection net and repellent
The R&D plan, focused on diseases affecting poor nations, is expected to be ready by 2008 and may benefit Indian drug firms and contract research organisations in a big way.
The resultant price increase was the cause of a surprise upward variation in the "drug and medicines" segment of the weekly wholesale price index of the ministry of commerce and Industry last week, it is learnt.
Analysts feel this decision is yet another example of big-ticket acquisitions turning sour for Indian pharma firms, as happened in the case of Dr Reddy's acquisition of Betapharm of Germany for Rs 2,250 crore (Rs 22.5 billion).
The ministry further stated that it was advisable to receive a complete schedule of the anti-coronavirus vaccine irrespective of past history of infection with COVID-19 as this will help in developing a strong immune response against the disease.
The company has entered into a tie-up with the US-based FSC Laboratories as its authorised generic partner for FSC's hypertension medicine Isoptin SR (Verapamil SR) in the US.
Pharmaceutical major Matrix Laboratories, public sector oil producer Oil and Natural Gas Corporation and Ranbaxy Laboratories have emerged as the fastest, biggest and the most consistent wealth creators for year 2006
Alkem, the largest manufacturer of Fructo-Oligo Saccharides, which helps the growth of good probiotic bacteria, is planning to roll out more products in the national and global markets, said Sharad.
The Sensex plunged into the red after opening with a gain of 13 points at 7,693.
Over the last four days, the Indian arm of US pharmaceutical giant Pfizer, Pune-based Serum Institute of India and Hyderabad-based pharmaceutical firm Bharat Biotech have applied to the Drugs Controller General of India seeking emergency use authorisation for their COVID-19 vaccines.
In comparison, Indian companies received only 23 out of 139 final approvals (16.54 per cent) in the corresponding period in 2006.
Even smaller companies like Torrent Pharma and Alembic file five to 10 ANDAs every year.
