Concerns over weakening demand for Indian pharmaceutical (pharma) drugs in the US - their largest export market - have weighed heavily on investor sentiment this year. While the Nifty 50 has gained 6.02 per cent year - to - date (as on September 15), the Nifty Pharma index has declined 5.18 per cent, National Stock Exchange data shows.
Abbott Laboratories is suing India's Ranbaxy Laboratories as well as Israel's Teva and Sandoz of the Novartis group, in Chicago for allegedly violating its patents protecting Omnicef, a drug used to treat ear, throat and skin infections.
Foreign lenders to Wockhardt have succeeded in stalling the debt-ridden pharmaceutical company's attempts to sell its nutrition business to Abbott Laboratories.
According to analysts, Glenmark will have to pay a penalty of $16 million, following the latest verdict.
Pharmaceutical company Ranbaxy Laboratories said on Monday its UK subsidiary has won a patent case over solvent-free clarithromycin and that it has launched the drug.
The branding initiative coincides with the company's expansion.
Abbott and Astellas dismiss Omnicef violation case.
A notice issued by the Indian Health Ministry at the weekend said that a government-appointed committee of experts had found that the banned combinations were "likely to involve risk to human beings, whereas safer alternatives to the said drug are available."
With local companies facing stress in domestic operations, valuations are down.
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.
In a fresh round of patent battle over the launch of generic drugs in the US market, domestic pharmaceutical majors Orchid, Sun Pharma and Ranbaxy Laboratories have been sued by Cima Labs, Otsuka Pharmaceutical Co and Abbott Laboratories, respectivel
Ranbaxy Laboratories has received approval from the U.S. Food and Drug Administration to manufacture and market Clarithromycin XL 1,000 mg tablets.
Deals worth nearly $17 billion have got cancelled including -- the $14.5 billion Reliance-LyondellBasell deal, the $2 billion Reliance-Value Creation transaction, the $12 million PVR-DT Cinemas deal and the $130 million Wockhardt-Abbott Laboratories deal.
The court's stand is expected to help Wockhardt conclude the deal within a month's time.
Indian government has extended price caps to 39 more medicines ranging from commonly used diabetes drugs to antibiotics.
The market regulator's newly proposed selection criteria for the over Rs 400-trillion-a-day futures and options (F&O) market could pave the way for the entry of popular stocks such as Life Insurance Corporation (LIC) of India, Jio Financial Services, Zomato, Paytm, DMart, and Adani Energy into the derivatives segment. The Indian derivatives market, which accounts for most of the trading volumes, could see big churn with over two dozen exits from the current list of 182 stocks due to an upward revision in the eligibility thresholds.
Several companies, including Indian units of Abbott Laboratories and Pfizer Inc, and domestic firms like Cipla Ltd and Macleods Pharmaceuticals, went to the Delhi High Court to try to get the ban lifted.
A copy of the letter dated February 29 was released to the media.
The health ministry has formed a committee to consider raising the number of drugs deemed essential and subject to price caps.
India battles big pharma over cough syrup abuse, reducing supplies
The pharmaceuticals sector is expected to post a revenue growth of around 13.5 per cent and a net profit growth of 30.3 per cent for the third quarter of 2023-24 (FY24), riding on the approval for niche drugs in the US market, fall in raw material prices and correction in shipping rates. In the healthcare segment, hospitals are expected to post revenue growth of 13 per cent during the coverage, while net profit growth would be around 37 per cent, ICICI Securities said in a note. However, the performance may not be comparable on a sequential basis due to the offset of the festive season in Q3FY24, the analysts noted.
The next hearing on Pfizer's plea is slated for March 21
GVK Biosciences is the latest Indian firm to come under international scrutiny over quality issues.
Ties between India and the United States have been strained in recent years because of trade policies and patent disputes.
The study also found that most GM foods did not disclose the fact on the label. "A few also made false claims of being GM-free," the study by CSE said.
Besides opposing the suspension of three medicines, the sector has also questioned the process adopted by the government.
Analysts are divided on the deal valuations. Some say Torrent could have bargained harder, as Sanofi, among others, passed it over.
Trump attributed the spike in the confirmed cases of coronavirus to the large-scale testing of the deadly disease.
'Serial testing is much more valuable than a single test which reflects just a point in time.'
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
Piramal Healthcare and SRL have entered into an agreement for SRL to acquire Piramal Diagnostics Services Ltd, Piramal said in a filing to the Bombay Stock Exchange.
While there is a shortage of testing kits, manpower and capacities, India does not have other scalable testing options.
The Delhi High Court on Friday stayed the ban on some fixed dose combination (FDC) drugs of Glaxo SmithKline, Wockhardt and Laboratories Griffon but said action against their sale could be taken in the absence of valid sale and marketing licence.
Ranbaxy Laboratories Ltd on Tuesday launched its approved generic formulation of Clarithromycin immediate release tablets in the US market.
It is the fundamentals of companies that will drive stock performance.
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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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Prior to his speech Trump tossed masks into the crowd.
A new logo, colour and tagline were unveiled last month.
In a surprise announcement in April, Sun and Ranbaxy -- at that time owned by Japan's Daiichi -- declared an all-stock deal to create India's largest and world's fifth-largest drugmaker in an over $4 billion deal.
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