Pharma major Ranbaxy Laboratories has set aside Rs 257.4 crore (Rs 2.57 billion) towards the financial impact of a US ban on import of products made at its plant at Toansa.
IT, pharma and FMCG stocks are the top performers in 2013.
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The report comes at a time when the government is trying to clear pending FDI proposals, which include various planned investments in this sector.
Sun Pharma open to large acquisitions post Ranbaxy.
India on Monday raised serious concerns over the USFDA's audit inspections of Indian pharma companies and 'disproportionate penalties' in some instances and said it would submit a discussion document on the issues to the US.
FDA had cancelled Ranbaxy's approvals to launch generic Nexium, Valcyte
Ties between India and the United States have been strained in recent years because of trade policies and patent disputes.
India has capped the prices of 36 drugs, including those used to treat infections and diabetes, in its latest move to make essential medicines more affordable, a senior official of the country's drug pricing authority told Reuters on Friday.
Competition watchdog says 'high market concentration' in some segments a worry.
Sun Pharma's Dilip Shanghvi is India's richest person.
'The failures of private businessmen have set back the process of market-oriented reform, though that is the only way forward,' argues T N Ninan.
4 Ranbaxy facilities in India have been barred from exporting to US.
The Gurgaon-headquartered drug maker, set to be acquired by another leading domestic company, Sun Pharmaceutical Industries, reported a consolidated net loss of Rs 186 crore for the quarter ended June.
Industry is gathering scientific data to approach the regulator, DCGI, for a review of the suspension order.
Indian pharma firms under European drug regulator's scanner.
The FDA has stepped up its efforts to ensure drug safety in recent months.
Hit by the new drug pricing policy and regulatory interventions, growth rate of the Rs 72,069-crore Indian pharmaceutical market has slowed down to 9.8 per cent in 2013 as compared to 16.6 per cent in 2012, says a report.
The comments need to be submitted to the Competition Commission of India within 15 days, along with supporting documents on how the merger can adversely impact the concerned person or entity, the regulator said, while adding that it would not consider 'unsubstantiated objections' to the deal.
Sun Pharma to retain these in most markets; US could be the exception, where the Ranbaxy name has taken a hit.
The capital market regulator has to recover Rs 64.85 lakh (Rs 6.48 million) from Ranbaxy's former independent director V K Kaul and Rs 12.97 lakh (Rs 1.29 million) from his wife Bala Kaul.
On January 31, the US Federal Trade Commission cleared the merger.
Launches cloud-based version of solution to target mid-size clients in life sciences.
The company buys distressed assets across the globe and turns them around to not only add to its books but also its product pipeline and regions.
The court also restrained RHC Holdings from operating its bank accounts except for payment of salaries and statutory dues till March 23, the next date of hearing.
A day after getting a show-cause notice from the Indian regulator, senior executives from Ranbaxy Laboratories approached the drug controller's office on Tuesday afternoon, it was learnt.
A source said the competition watchdog would by next month suggest 'structural remedies' that included selling key drug segments as conditions for clearing the country's largest pharmaceutical industry merger.
The PIL , filed by advocate M L Sharma, sought action against Ranbaxy for allegedly supplying substandard and adulterated drugs
In 2008, Daiichi Sankyo had bought the entire 34.82 per cent stake in Ranbaxy from its promoters, Malvinder Mohan Singh and family, for $4.2 billion. Currently, Singh is executive chairman of Fortis Healthcare.
The year saw 30 QIP deals raising over $5 billion and 35 IPOs.
Drug major Ranbaxy Laboratories on Thursday said it plans to launch more generic products in the US market with possible marketing exclusivity, while keeping options open for overseas acquisitions to grow its business in various global markets.
The recall is the latest in a series of problems to hit Ranbaxy, which has had all its India factories stopped from sending drugs and ingredients to the United States.
Slapped with Rs 242-crore fine by US authorities for rule violations at Toansa unit, say sources; 2nd such hefty rap in the recent past from US regulators for bending rules.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
Wockhardt MD Murtaza Khorakiwala said his firm had responded to the FDA's observations but declined to give details.
The Ranbaxy experience has made multinational corporations more cautious about Indian acquisitions in general
Combined net profit estimated to grow 14.6% year-on-year, against a 5.7% decline in the Dec 2015 quarter
There are just 1,500 drug inspectors responsible for more than 10,000 factories in India
Sun maintained it would retain the best of both organisations to build a global pharma company.
US country head, key departmental heads leave; more likely to follow.
Consultants are working with various teams on manufacturing, R&D, etc, to assess per-month productivity of each department.
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