Glenmark Pharmaceuticals Ltd on Tuesday said it has acquired the approved generic versions of certain over-the-counter drugs from Wockhardt Ltd in the US. The acquisition by the company's fully-owned subsidiary Glenmark Pharmaceuticals Inc, USA includes the approved abbreviated new drug applications (ANDAs) for famotidine tablets, 10 mg and 20 mg used to treat and prevent ulcers in the stomach and intestine, the company said in a statement. The company, however, did not disclose the financial details.
The company had posted a consolidated net profit of Rs 323.31 crore (Rs 3.23 billion) in the same period last fiscal, Wockhardt Ltd said in a filing to the Bombay Stock Exchange.
The company had posted a consolidated net profit of Rs 453.55 crore (Rs 4.53 billion) in the same quarter last fiscal, Wockhardt Ltd said in a filing to the BSE.
These drugs will be entering in their global Phase -3 clinical trials early next year.
Wockhardt said it is launching the product immediately in the US market.
Wockhardt Ltd has informed BSE that it will be publishing by March 31 the audited results for year ended December 31 and for the quarter ended on that date and in view of this the unaudited results will not be published.
Pfizer, the world's largest pharmaceutical company, has filed patent infringement suits against Sun Pharma, Wockhardt Ltd and Lupin Ltd to prevent these companies from securing marketing approvals for the generic equivalents of its high-selling neuropathic pain management drug Lyrica in the United States.
The sale of the 10 hospital properties to Fortis Healthcare will help Khorakiwala repay the Rs 500 crore (Rs 5 billion) debt on Wockhardt Hospital's books.
'In any business you have to achieve short-term goals.' 'But at the same time you have to keep your broader perspective long term.' 'It is good for business survival.'
Three leading international pharma companies have started due diligence to acquire Wockhardt Ltd's wholly-owned Irish generic drug company, Pinewood.
Ex-head of BPL Mobile and currently a Rajya Sabha MP, Rajeev Chandrasekhar will be the new head of Ficci.
Pharma major, Wockhardt Ltd on Tuesday announced the acquisition of Ireland's leading generic pharmaceutical company Pinewood Laboratories Ltd for over Rs 686 crore
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Wockhardt Ltd has received tentative approval from the USFDA for anti-epileptic drug, Divalproex Sodium delayed-release tablets.
Wockhardt Ltd has signed an In-licensing agreement with UK-based LSI to market Vitix, a drug used for treating pigmentation disorder.
Indian drug maker, Wockhardt Ltd on Friday said it has acquired Dumex India Pvt Ltd along with its two products Protinex and Farex from the Netherlands-based Royal Numico NV for an undisclosed sum.
Pharmaceutical major Wockhardt Ltd on Saturday claimed it has developed a new form of long-lasting insulin called Glargin and plans to launch it in India by 2006.
Pharmaceutical major Wockhardt Ltd announced a restructuring of its field organization to upgrade its competitiveness and productivity
A vaccine developed by the Chinese will hit the Indian market on Monday.
Its factory in Chikalthana in western India was last month hit by the British drug regulator's curb on imports from the plant over manufacturing deficiencies.
Pharma-major Wockhardt Ltd has set up a sales and marketing subsidiary in the United States to drive its business in the world's largest pharmaceutical market.
As part of its major expansion plans overseas, pharma major Wockhardt Ltd has set up joint ventures in Mexico and South Africa and established a wholly-owned subsidiary in Brazil.
Pharma major Wockhardt Ltd's consolidated net profit increased 35.6 per cent to Rs 142.5 crore (Rs 1.42 billion) for financial year ended December 2003
'There are different kinds of risk.' 'It is a very powerful value. Your ability to de-risk the risk is also as important for risk taking.'
'15, 17 years back we were not even in existence in the US. Today nearly 1/3 of prescriptions written comes from India.' 'India is showing that in a very competitive environment -- like the US and Europe -- our industry is doing very well.'
Pharma major Wockhardt Ltd has posted a 13.3 per cent increase in net profit at Rs 34.9 crore (Rs 349 million) for the second quarter ended June 30, 2003 as against Rs 30.8 crore (Rs 308 million) for the corresponding quarter last fiscal.
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The company had in May announced that the US Food and Drug Administration had issued an import alert on its Waluj facility, which makes injectables and solid dosages.
Wockhardt said, the drug regulator suspended the manufacture, sale or distribution of fixed dose combination of Dicyclomine Hydrochloride IP 10mg
According to the chairman, there will be an annual loss of Rs 100 crore due to the MHRA alert on Waluj plant
All of Ranbaxy's India-based factories are currently banned by the FDA from exporting medicines to the United States, the company's largest market, after the regulator's inspection found violation of its so-called good manufacturing practices.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The FDA has stepped up its efforts to ensure drug safety in recent months.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Wockhardt MD Murtaza Khorakiwala said his firm had responded to the FDA's observations but declined to give details.
Last month, the US Food and Drugs Administration had placed Wockhardt's facilities in Waluj near Aurangabad on import alert, barring supply of various products from these facilities to the US.
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