The upside for Ranbaxy Laboratories is likely to continue even as it loses its 180 days of marketing exclusivity for the Lipitor generic in the American market.
The company has entered into an 'in-licencing agreement' with Gilead Sciences Inc to produce and sell, under licence, three new HIV/AIDS drugs which are currently in late stages of clinical development, Ranbaxy Laboratories said.
The initiative will be implemented through the Ranbaxy Community Health Care Society, a non profit organisation established by Ranbaxy, Daiichi and Ranbaxy said in a joint statement.
The firm, however, said the anti-cholesterol tablets meant for the US market will be produced at its Mohali SEZ plant in Punjab and not at the three units banned by the US health regulator.
SSTL is the second operator after Vodafone that has approached FIPB for raising FDI limit.
According to a report, the executives are T G Chandrashekhar, vice-president, global quality and analytical research, and Abha Pant, executive director for regulatory affairs.
The company's Canadian subsidiary Ranbaxy Pharmaceuticals -- Canada Inc has received final approval from TPD to manufacture and market Ran-Simvastatin tablets, the Gurgaon-headquartered pharma major said in a statement. The approval for Ran-Simvastatin tablets, which are used as a lipid metabolism regulator, is in the strength of 5, 10, 20, 40 and 80 mg.
The company has launched a new chemical entity Lulifin (Luliconazole) in the Indian dermatology market, the pharma major said in a filing to the Bombay Stock Exchange.
Ranbaxy Ghuangzhou China is a joint venture formed in 1993 between the Ranbaxy group, Guangzhou Baiyunshan Pharmaceutical Company Ltd, China and Hong Kong New Chemic.
US drug maker Merck & Co has terminated its nearly two-year-old alliance with Ranbaxy Laboratories to develop anti-infective medicines, which could have fetched the Indian firm $100 million over a period of five years.
Ranbaxy Laboratories on Thursday launched a generic version of Prasugrel, used in treating heart diseases, from Daiichi Sankyo portfolio in India as part of strategy to launch drugs from the parent company's stable.
The IPA complaint turns significant in the backdrop of increasing talk about foreign companies buying into Dr Reddy's, Piramal Healthcare and Aurobindo.
The process is being undertaken in consultation and agreement with the competent authorities.
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.
Ranbaxy Laboratories Ltd has received the US Food and Drug Administration approval to market Fosinopril sodium tablets in the United States.
While the US health regulator did not specify details for issuing the alert, it said 'detention without physical examination may be appropriate when an FDA inspection has revealed that a firm is not operating in conformity with current good manufacturing practices'.
In addition to the US drug regulator, Food and Drug Administration, and rival pharma majors that appear keen to launch litigation against Indian company Ranbaxy, a US citizen has joined the bandwagon by filing a case in the world's biggest drug market.
Major Indian drug companies such as Ranbaxy Laboratories, Lupin, Dr Reddy's Laboratories and Glenmark have gone off the beaten track in overseas markets.
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.
Ranbaxy Laboratories on Tuesday said it will acquire Bangalore-based Biovel Lifesciences for an undisclosed amount.
Year 2008 results of India's largest drug maker, Ranbaxy Laboratories, and Wockhardt were also impacted by forex losses. Companies such as Aurobindo and Orchid are also expected to post forex losses, say analysts.
US-based Abbott Laboratories has sued Sun Pharmaceutical Industries and Ranbaxy Laboratories in courts there for challenging the patents of its cholesterol-lowering drugs, Niaspan and TriCor, respectively, in separate infringement suits.
Ranbaxy, originally promoted by the Singh family, was acquired by Japan's Daiichi Sankyo late last year.
Sun Pharmaceutical Industries Ltd Chairman Dilip Shanghvi said he expects Ranbaxy Laboratories Ltd to become profitable in the short term.
The Delhi High Court has quashed a demand of approximately Rs 5 crore (Rs 50 million) raised by the central government against Ranbaxy Laboratories.
Drug-maker Ranbaxy Laboratories on Thursday said it has received the US health regulator's approval to market Quinapril Hydrochloride and Hydrochlorothiazide tablets, used in treatment of high blood pressure, in different strengths in America.
Ranbaxy has acceded to the request of Health Canada to quarantine drugs produced from its Paonta Sahib facility at Himachal Pradesh, North American country's newspapers reported, highlighting the trouble in store for the Japanese-controlled drug maker. Health Canada is a department of the government of Canada with responsibility for national public health.
Ranbaxy Laboratories Ltd, the country's biggest drug maker by revenues, has announced aggressive growth plans for the domestic market. It has increased its sales teams in specific areas like cardiovascular, diabetics and dermatology and plans to introduce over 100 new products by the year-end.
Aurobindo pharma, cipla, orchid chemicals are the prominent takeover targets.
Indian pharmaceutical companies may have spread their wings far and wide, but they have been hitting the wall in China.
"This is the first time in Europe that Daiichi Sankyo and Ranbaxy are leveraging synergies generated through the hybird business model," Ranbaxy Laboratories said.
Leading pharmaceutical company Ranbaxy Laboratories on Tuesday said its global sales had crossed the $1 billion mark in February 2003-February 2004 on a moving annual total (MAT) basis.
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.
The government on Friday approved the acquisition of drug company Ranbaxy Laboratories by Japanese pharma major Daiichi Sankyo envisaging foreign investment of around Rs 21,500 crore (Rs 215 billion).
Malvinder steps down as CMD four years ahead of schedule.
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.
The voluntary move comes a little more than a year after the Central Drugs Standard Control Organisation, the central authority that approves new drugs for marketing, had asked the drug makers to withdraw the 'combination drugs' as they are 'unnecessary' and may pose health hazards. The Drugs Controller General of India had banned 294 combination drugs sold under nearly 1,053 brand names from the market in June 2007.
Pharmaceuticals major Ranbaxy Laboratories plans to leverage the cost advantage of Chinese raw materials by making China its major active pharmaceutical ingredient sourcing hub.
The USFDA has accused Ranbaxy of falsifying data and test results of medicines. A Daiichi Sankyo statement said it takes the issue very seriously. 'Both Daiichi and Ranbaxy have formed a team to solve the issue. Ranbaxy will be responding to the FDA and will continue to cooperate with the agency.' Ranbaxy shares fell more than 18 per cent to Rs 169.85 today on the Bombay Stock Exchange, while Daiichi stock dropped about 10 per cent to yen 1,680 on the Tokyo Stock Exchange.
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.
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