Experts said it is the first time that an Indian pharmaceutical company has been charged with such serious offences, and that the firm may be prosecuted if the allegations are proved. Able Labs of the US, now a unit of Sun Pharma through an acquisition in 2005, had to face similar charges in 2004-2005.
Engineering major BHEL rebounded from its day's lows to end around 1% higher.
Pharma major Ranbaxy on Thursday reported a 170 per cent rise in net profit at Rs 186 crore (Rs 1.86 billion) for the fourth quarter ended December 31, 2006
The stock faced similar trends on the National Stock Exchange as well, where it opened at Rs 362, then plunged 2.70 per cent to an early low of Rs 354.10.
Actor Jacqueline Fernandez on Monday arrived at the Patiala House court in the national capital in connection with the Rs 200 crores money laundering case involving alleged conman Sukesh Chandrashekhar.
Whistle-blower Dinesh Thakur will speak on Made-in-India drugs at an event in Washington.
Sun Pharmaceutical's acquisition of Ranbaxy has received final approvals.
A bench comprising Chief Justice Ranjan Gogoi and Justice Deepak Gupta held the former Ranbaxy promoters guilty of contempt of court and said that they had violated its earlier order by which the sale of their controlling stakes in Fortis Group to Malayasian firm IHH Healthcare was put on hold.
The Delhi police has prepared a list of 100 odd questions that actor Jacqueline Fernandez has been asked to answer in the alleged Rs 200 crore scam.
From Ranbaxy to Religare, Aashish Aryan takes you through a maze of legal cases involving Malvinder Mohan Singh and his younger brother Shivinder Mohan Singh. Both are in police custody following a complaint of fund siphoning.
'Nothing in this world is permanent. So also in business.' 'And more so in family businesses where family issues often influence business decisions,' point out S Subramanian and Nupur Pavan Bang.
The latest whistle-blower revelations of multiple shenanigans at global ride-hailing app Uber, coming thick and fast after serial exposes of various dodgy practices at Facebook, Apple, Amazon, Netflix, Google in the recent past raises uncomfortable questions about India Inc. If the FAANGs, Twitter and Uber can be guilty of multiple and diverse transgressions what's happening in Indian corporations? It can be nobody's case that India's largely family-owned and - managed private sector is a beacon of transparency or best corporate governance practices, bolstered as it is by an informal omerta among employees, managements and even boards.
Ranbaxy, its partners and Actavis have signed a non-exclusive agreement.
'... And I don't think it really is that despite a lot going wrong.' 'Naiveté or stupidity or trusting the wrong person, the outcome is the same, which is that the group has gone to trash.' 'I'm not OK with people saying I had a role to play in crooking the system, which is not what I did.'
The company sold over 21 crore (210 million) shares in Sun Pharma.
Daiichi won't remain a major shareholder in Sun Pharma.
4 Ranbaxy facilities in India have been barred from exporting to US.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
'The focus for value creation will be on all business segments.'
The Japanese company alleges the earlier Ranbaxy promoters withheld crucial information when they sold the company in 2008.
Substandard and fake drugs are rampant in India because of the highly fragmented industry.
Facing arbitration claims by Daiichi Sankyo, Ranbaxy's former Indian promoters - Malvinder Mohan Singh, his brother Shivinder Mohan Singh and family - are counting on certain clauses in the share purchase agreement (SPA) signed with the Japanese company on June 11, 2008, to claim immunity from damages.
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.
Daiichi alleged that Singh brothers had concealed and misrepresented critical information concerning US Food and Drug Administration and Department of Justice investigations into Ranbaxy
The relationship between the Singh brothers, erstwhile promoters of Fortis Healthcare, went sour after allegations of fund diversion from the healthcare chain emerged.
Dinesh Thakur is famous for exposing Ranbaxy safety problems
On Wednesday, Daiichi Sankyo's lawyers argued for a stay on stake sale by Fortis, which was opposed by counsels of the hospital chain and promoter entities.
Whistle-blower Dinesh Thakur tells briefing on US Capitol Hill: 'One in five medicines manufactured and distributed in India are spurious.' Aziz Haniffa reports from Washington, DC.
Sun Pharma has evinced its interest in buying Hyderabad-based biotech company Zenotech Laboratories, through an open offer to buy 28.1 per cent worth Rs 18.41 crore ($3 million).
In the final part of a three-part series on America's war on substandard Indian generic drugs, Aziz Haniffa speaks about American doctors' contempt for drugs exported from India and the ineptitude of the US Food and Drug Administration to stop the menace.
Credit Suisse analysts cut their rating on Sun Pharma stock to 'neutral' from 'outperform
For Sun Pharma, it is an astute purchase that it hopes will not only boost its position in India but also globally.
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.
At 1130 hours, the Sensex was up 99 points at 22,260 and the 50-unit Nifty shed 26 points at 6,669 levels.
Sun Pharma and Ranbaxy Labs hogged the limelight after Sun Pharma announced the acquisition of Ranbaxy Labs.
Singh says Japanese pharma giant's allegations false.
Says former Ranbaxy owners concealed critical information on probe by US agencies.
The Zee saga will see a long-drawn-out court battle before shareholders get any chance to vote on any proposal by the management or Invesco, says Prosenjit Datta.
The markets breadth was negative - out of 2,717 stocks traded, 1,804 declined, 842 advanced and 71 were unchanged on Thursday. The index moved in a range of 207 points between 15,052 (low) and 15,259 (high). The NSE Nifty ended with a loss of 78 points at 4,504.
They seek to profit from big-selling drugs going off-patent this year in the lucrative market.
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