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.
The company also said it would suffer a one-time loss of $3.8 billion on consolidated basis for its investments in Ranbaxy Laboratories. Daiichi Sankyo has based its estimates for the one-time write-down of goodwill on its investment in Ranbaxy to fully reflect the impact of the current turmoil in global equities, the company said.
India's leading drug maker Ranbaxy Laboratories is likely to announce a drug discovery research tie-up with US drug manufacturer Merck soon. Ranbaxy's ongoing research collaboration with GSK also relates to the pre-clinical trial phase of the new drug, with significant milestone payment and post-commercialisation royalty possibilities. Ranbaxy's decision to de-merge its research operations was intended at having more collaborative research programmes involving foreign firms.
Voveran, Novartis India's flagship pain killer medicine, has become the largest selling domestic drug with sales of more than Rs 11 crore (Rs 110 million) in March 2008, displacing Pfizer India's cough and cold syrup Corex, which had sales of Rs 10 crore (Rs 100 million). Cipla, on the other hand, maintained its leadership position as the largest domestic pharmaceutical company edging out Ranbaxy Laboratories with a market share of 5.24 per cent.
The government on Wednesday granted approval to Nokia, Wipro, Hewlett Packard, Reliance, Biocon, Ranbaxy Laboratories, Mahindra and Mahindra, Reliance energy and Adani Group's to set up Special Economic zones.
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 Supreme Court on Monday posed some tough questions to a lawyer, asking him to substantiate his "unfounded allegations" in a PIL that Indian pharma major Ranbaxy Laboratories Ltd was allegedly manufacturing and selling adulterated medicines.
Pharmaceutical major Ranbaxy Laboratories, which has been linked to a hostile takeover bid of Chennai-based Orchid Chemicals, on Wednesday said the company does not believe in such practices.Solrex Pharma, reportedly a Ranbaxy promoter group firm, had acquired over 8 per cent stake in Orchid Chemicals through open market purchases. The Ranbaxy official also declined to confirm or deny if Solrex Pharma is a part of the Ranbaxy Group.
At least 150 of the 205 employees at Lotus India Mutual Fund may lose their jobs.
Oil and Natural Gas Corporation has been adjudged the greenest company in the country, while Reliance Industries has been ranked second in a survey conducted by Business Today-ACNielsen ORG-MARG.
Ranbaxy board has approved the hive off of its R&D unit, with an 1:4 share swap ratio.
Continuing with its push in the US market, Ranbaxy Laboratories said on Monday it has acquired the marketing rights for 13 skincare products from Bristol-Myers Squibb Company for $26 million.
"We are responding to all queries from US FDA and will emerge as a stronger player in the world's biggest pharmaceutical market," Ranbaxy Chairman and Managing Director Malvinder Singh said. The US, which accounts for 20 per cent of Ranbaxy's $1.5-billion annual turnover, has an import restriction on 30 of its medicines by the US Food and Drugs Authority.
Investors in Ranbaxy Laboratories got richer by over Rs 1,900 crore (Rs 19 billion) in a single day as the scrip surged by a little over 20 per cent on the Bombay Stock Exchange on Monday, a day after the pharma major announced a change of guard at its top management level.
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
Ranbaxy's shares rose by 0.65 per cent on Thursday to close at Rs 493.55 a share, below the offer price of Rs 737 a share. Two days ago, it had been reported that institutional investors Life Insurance Corporation and General Insurance Corporation, which between them hold 16.43 per cent in Ranbaxy, offered to sell their stake.
In a fresh round of patent battle over the launch of generic drugs in the US market, domestic pharmaceutical majors Orchid, Sun Pharma and Ranbaxy Laboratories have been sued by Cima Labs, Otsuka Pharmaceutical Co and Abbott Laboratories, respectivel
After being raided by Federal officials, Ranbaxy Laboratories Ltd, India's largest pharmaceutical company, has been taken to court in the US by a consumer health group that supports the sale of low-priced generic medicines.
All medicines that have USFDA approvals continue to be produced in the Poanta Sahib facility. The USFDA has not given any approval for new drugs as they have some concerns. We are addressing them, Malvinder Singh said.
Ranbaxy Laboratories on Wednesday hit out at rivals -- "a multinational and a leading Indian company" -- for trying to bring down its share by "spreading confusion and speculation" in the wake of a motion filed in the US accusing it of fraudulent practice and submission of false information to the US FDA.
Under fire in the United States for giving distorted information on the generic drugs it sold, Ranbaxy Laboratories on Tuesday said that it will file all relevant information within a month after which the legal case initiated against it by the US government will be withdrawn.
Almost a year after announcing a $4 billion deal, Sun Pharmaceutical Industries on Tuesday said merger of Ranbaxy with itself has been 'consummated.'
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
Japan's Daiichi Sankyo makes Ranbaxy Laboratories an offer it can't refuse -- $4.6 billion for a 50.1% stake in India's largest drugmaker.
US giant expected to bid for 65% non-promoter stake.
Ranbaxy, one of the first Indian companies to set up a venture in China in 1993, is bullish in its operations.
Ranbaxy Laboratories has acquired Be-Tabs Pharmaceuticals, the fifth-largest generics company in South Africa, for $70 million.
Ranbaxy has completed the second phase of the clinical trial of a revolutionary anti-malarial drug that could enable it to be the nation's first pharmaceutical company to launch a New Chemical Entity globally.
Drug major Ranbaxy Laboratories could suffer a potential revenue loss to the tune of Rs 300 crore (Rs 3 billion) due to delay in receiving approval from the US Food and Drug Administration (FDA) for generic version of GSK's anti-migraine medicine Imitrex, according to analysts.
Retail sales of Ranbaxy Laboratories, Cipla, Nicholas Piramal, Lupin and other drug makers have jumped by over 10 per cent in the domestic market despite the sales of generics or copycat versions of patented drugs falling in leading global markets such as the US and Europe.
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.
Privately held Solrex has acquired an 11.4 per cent stake in Chennai-based Orchid, a bulk drugs and formulations maker, in just two weeks. Deputy MD says Solrex is linked to Ranbaxy, but stake buy isn't a takeover attempt. Orchid shares have doubled in recent weeks amid Solrex's buying and speculation it was linked to Ranbaxy & was preparing a takeover. A Ranbaxy spokesman has said the company did not believe in hostile takeovers. Orchid has launched a unit in Japan recently.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances