India's largest listed pharmaceutical (pharma) company - Sun Pharmaceutical Industries (Sun Pharma) - is expected to maintain its outperformance vis--vis the sector's, as its multiple bets on specialty products, improving product mix, recent acquisitions, and branded business are finding favour with brokerages. While it has gained 7 per cent over the past year, the Nifty Pharma Index is down 13.6 per cent. Its outperformance over two years has been fairly evident, with the market leader gaining 66 per cent to Nifty Pharma's minus 1.4 per cent.
Sun Pharmaceutical Industries Ltd on Monday said its Michigan-based wholly owned subsidiary,
Indian drug firms continue to work closely with the FDA, and most have also appointed consultants to help them grasp the regulatory minutiae in the US.
The central government has for the first time allowed a private company, Bajaj Healthcare, to process opium to extract alkaloids used to make pain-killers, cough syrups, and even cancer drugs. Two government factories in Ghazipur, Uttar Pradesh, and Neemuch, Madhya Pradesh, do the work yet, processing some 800 tonnes of opium gum annually to extract alkaloids. The government on Tuesday gave Thane-based Bajaj Healthcare an initial contract to process 500 tonnes of opium gum annually and wants production to be at 800 tonnes per annum (tpa) in the next five years, indicating the state's exit from the highly-regulated sector.
Last year, Ranbaxy had to pay a fine of $500 million to the US authorities after it pleaded guilty to fraudulent activities and misrepresenting data to seek fast approvals.
The deal will provide Suzlon with much needed liquidity.
Sun Pharmaceutical said Ranbaxy shareholders will get 0.8 Sun Pharma shares for each Ranbaxy share.
Drug firm MSD has decided to enter into voluntary licensing agreements for investigational oral antiviral drug candidate 'Mmolnupiravir', which is being studied for the treatment of Covid-19, with Indian drug firms Sun Pharma, Cipla, Dr Reddy's, Emcure Pharma and Hetero Labs, its Indian arm said on Tuesday.
India's economy will see the fastest dollar nominal growth in the world in 2015, Credit Suisse says.
Ranbaxy's troubled plants in India could see a turnaround as Sun Pharma has experience in doing so.
Sun gets RBI nod for transfer of Ranbaxy overseas investments.
They seek to profit from big-selling drugs going off-patent this year in the lucrative market.
Shanghvi founded Sun Pharmaceuticals in 1983 with five psychiatry products and a marketing team of just two persons.
This generic Doxorubicin HCl Liposome injection USP, 2 mg/ml is therapeutically equivalent to Doxil Liposome Injection, 2 mg/ml of Janssen Research and Development, LLC.
Many say trend could lead to concerns on manufacturing quality in Indian facilities.
The report of the January 25 meeting was placed before the high court last week.
Sun Pharmaceutical Industries Ltd named Kamlesh H Shah company secretary. He replaces R K Baheti, who was also senior vice president (finance).
Acquisition to boost its generics business in developed markets.
The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
DUSA is a dermatology company focused on developing and marketing its Levulan photodynamic therapy platform.
Sun Pharma's managing director Dilip Shanghvi, says we continue to look for opportunities to expand our business in all the key geographies and markets we are focused on.
Drug major Sun Pharmaceutical Industries has acquired US-based Pharmalucence Inc for an undisclosed amount.
Favipiravir is the only oral anti-viral treatment approved in India for potential treatment of patients with mild to moderate Covid-19 disease.
Eight others, including Bajaj Auto Managing Director Rajiv Bajaj and Tractor & Farm Equipment Chairman Mallika Srinivasan, received awards across categories at an award ceremony attended by over 350 people in New Delhi on Monday.
Sun Pharmaceutical Industries said it has received approval from US health regulator to market generic Clarinex tablets and Tiazac capsules, used in treating nasal allergies and hypertension, respectively, in the American market.
Israel-based Taro pharmaceutical industries became Sun Pharma's subsidiary on September 20, 2010.
Sun Pharmaceutical Industries Ltd has informed BSE that a meeting of its board will be held on January 30 to take on record unaudited financial results of the company for the third quarter ended December 31.
"Through this partnership, the reach of Sitagliptin and Sitagliptin plus Metformin will be enhanced amongst doctors and patients in India, helping them efficaciously manage the disease," Sun Pharma Chief Executive Officer Kalyanasundaram said in a joint statement issued by the two firms.
The United States Food and Drug Administration has issued a warning letter to it for manufacturing practice violations at its Cranbury facility in New Jersey.
Drug maker Sun Pharmaceutical Industries on Thursday said it has received the US health regulator's nod for marketing a generic version of the Keppra injection, used for treating epilepsy, in the American market.
Sun Pharmaceutical Industries and its subsidiary, Caraco Pharmaceutical Laboratories, have reached a settlement agreement with drugmaker Forest Laboratories and licensing partner H Lundbeck AS, over a pending patent infringement dispute over Forest's blockbuster antidepressant, Lexapro.
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.
Holzer Holzer & Fistel, a US-based law firm, has announced it would file a class action lawsuit in the District Court at Michigan on behalf of investors of Caraco Pharmaceutical Laboratories. A Sun Pharma spokesperson did not comment on the proposed legal action against the US subsidiary.
Sun Pharmaceutical Industries Ltd Chairman Dilip Shanghvi said he expects Ranbaxy Laboratories Ltd to become profitable in the short term.
A law firm, Izard Nobel LLP, has initiated a lawsuit seeking class action status against the company in the United States District Court for the Eastern District of Michigan on behalf of its investors. The law firm said certain officers and directors of Caraco violated federal securities' laws and interests of the investors by giving misleading information on the business of the company. It has asked the investors to join the suit before September 15 to claim their damages.
Sun Pharmaceutical Industries on Friday said that it has received the US Food and Drug Administration's nod to market a generic version of alprazolam, an anti-anxiety drug, in the US market.
Sun Pharma rejected Taro's demand, stating that it had not disclosed audited results for the past three years as well as the restated accounts. Sun's offer was a maximum of $9.50 per share, with two options. Discussions failed and both parties asked the court to give a verdict. However, the court directed both parties to re-negotiate through a mediator.
Sun Pharmaceutical Industries and Israel-based Taro Pharmaceutical have started fresh rounds of negotiations to settle their differences over a takeover by the Indian company out of court.
Israeli drug firm Taro Pharmaceuticals has filed a law suit in a US district court against Mumbai-based Sun Pharmaceutical Industries alleging violation of non-disclosure agreement and misleading shareholders.
Under the agreement, MedImmune has granted Sun Pharma a licence to certain patents, permitting Sun Pharma to continue marketing its generic version of Ethyol in the US.
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