The parties intend to start the production of Sputnik V in the beginning of 2021, it added. Currently, Phase III clinical trials are approved and are ongoing in Belarus, the United Arab Emirates, Venezuela and other countries, as well as Phase II-III in India, RDIF said.
The markets opened 47 points higher at 7,682.
The Supreme Court of India on Monday remarked that it was not right to doubt the integrity of any court. The observation was made by a bench comprising of Justice B S Chavan and Justice T S Thakur, which was hearing a petition seeking transfer of cases against Chandrababu Naidu, president of the Telugu Desam Party, to a court outside Andhra Pradesh.
India's largest pharma companies by market capitalisation Sun Pharma, Dr Reddy's and Cipla have seen their share prices drop 5-20 per cent over the last two weeks on results that were below Street expectations.
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.
India emerging as a big global destination for contract manufacturing, unlike R&D outsourcing.
The ability of Indian pharmaceutical companies to command higher margins in international markets is helping sustain business.
Other developers that have sought additional time include Alstom Bharat Forge Power, Sesa Sterlite Ltd and Cognizant Technology Solutions. Vedanta Aluminium has asked for extension of the validity of the approval granted by the board for setting up an SEZ in Odisha beyond May 22.
The Drugs Controller General of India (DCGI) has granted permission to the Serum Institute of India (SII) to manufacture the Sputnik COVID-19 vaccine in India for examination, test and analysis with certain conditions, official sources said.
For instance, Dr Reddy's Laboratories has six active pharmaceutical units in Andhra Pradesh. The waste streams from the API units mostly contain potassium sulphate, caustic lye, potassium chloride, potassium sulphate and sodium sulphate salts.
Ram Charan and his wife Upasana Konidela's friends threw the couple a lovely baby shower in Hyderabad over the weekend.
The phase-three human clinical trial of indigenously developed anti-coronavirus vaccine candidate Covaxin began at the AIIMS in New Delhi on Thursday, with Dr M V Padma Srivastava, the chief of Neurosciences Centre at the premier institute, and three other volunteers receiving the first dose.
This increase is despite the decreased growth of drug sales in the US - the world's largest market - which has seen a tightening of regulations and aggressive competition.
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.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
After decades of hunt for fortune abroad, India's pharmaceutical companies now plan to strike gold in their own backyard. Large players from Ranbaxy to Dr Reddy's and Piramal Healthcare are all headed to rural India to boost their revenues.
Dr Reddy's Laboratories, Nicholas Piramal and other Indian drug makers are relying on niche and smaller value, acquisition strategy for growth owing to global slowdown and failure of big-ticket acquisitions in the past.
Multinational drug manufacturers such as Pfizer and DSM are increasingly getting into contract manufacturing alliances with emerging bulk drug makers in the country, bypassing established players such as Ranbaxy and Dr Reddy's.
The former Congress president alleged that PM Modi had a "monopoly over corruption".
Ranbaxy, Dr Reddy's and other Indian drug makers may cut production as overseas buyers, hurt by the credit crunch, defer export orders. The move could also lower the country's drug exports by at least 10 per cent in the year ending March 2010, industry experts say."Many of our members have been intimated by their importers to stop shipments until further notice," said Venkat Jasti, chairman, Pharmaceutical Exports Promotion Council.
Two years after India entered the product patents regime, the year 2007 saw Indian drug firms striving to shed the copycat image and become innovators with emphasis on research activities even as they resisted moves to include more medicines under price control.
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.
The government is hopeful of a speedy launch of single-dose COVID-19 vaccine Sputnik Light in India and all stakeholders, including the Russian manufacturer and its Indian partners, have been directed to fast-track the application and regulatory approval procedures for the jab to boost the country's vaccination drive, sources said.
Only half India's population has received the first shot of Covishield and Covaxin and the government's immediate task is to first vaccinate its adult population before placing its focus on children.
Reddy stated that KCR's statement on proposing a new constitution is an extension of the idea of the BJP.
Pharmaceutical majors like Ranbaxy, Dr Reddy's Lab, Wockhardt, Glenmark and Sun Pharma are now treading a careful patent litigation path in the US market to expand their generic business instead of the aggressive patent challenges they pursued until a few years ago.
If most of the top 10 Indian drug companies were less than Rs 500-crore (Rs 5-billion) turnover ones a decade earlier and were focused only on domestic business, now they are companies with annual businesses ranging from Rs 2,000-Rs 6,000 crore (Rs 20-60 billion) and with operations spanning 60-100 countries and employing 3,000-5,000 people.
An analysis of the growth rate of 15 leading drug companies for the third quarter of 2008-09 show excellent performances in domestic turf have been often marred by the poor show of their acquired assets.
Dr Reddy's Laboratories, Jubilant Organosys, Orchid Chemicals, Aurobindo Pharma and Shasun Chemicals and Drugs are among those who have borrowed either to expand locally or to acquire companies abroad, but are now struggling to repay the dues, analysts say. Some of the companies' debt now exceeds their market capitalisation, as local and global investors sold stocks on concerns over slowdown and falling revenues. A few drug makers may be forced to sell assets to repay debt.
According to analysts, Indian drug makers are forging alliances with overseas companies such as CD Pharma, Gnosis SpA, Crawford Healthcare and Syrio Pharma to sell drugs for chronic and acute cases. According to analysts, Indian drug makers are forging alliances with overseas companies such as CD Pharma, Gnosis SpA, Crawford Healthcare and Syrio Pharma to sell drugs for chronic and acute cases.
This import duty exemption would remain in force till October 31 this year.
'It will be interesting to see how Dr Patel handles gadflies with the maturity of egregiously petulant three year olds.' 'That Dr Patel does not, in so far as we can tell, cause society matrons to gush like hormonal teenagers can only be a good thing for him.' 'Look where their febrile imaginations and breathless prose took his predecessor.'
PowerGrid was the top loser in the Sensex pack, slumping over 4 per cent, followed by ONGC, IndusInd Bank, Kotak Bank, L&T, Asian Paints and Bajaj Auto. NSE Nifty tanked 258.40 points to 14,359.45.
Sun Pharmaceutical, which is growing its dermatology and ophthalmic specialty business in the US will spend $460 million on R&D.
Eminent Indian-American attorney from New York Ravi Batra has termed it a "dead on arrival lawsuit".
Dr Reddy's has reached an out-of-court settlement to launch the Glaxo-patented Imitrex, a migraine drug that had annual sales of $878 million as of March 31, 2006, in the US. Experts estimate Dr Reddy's may not get more than $8-$15 million sales in 2009 since majority of sales revenue has to be given to GSK, for allowing the launch the authorised generic version.
Equity indices made an emphatic comeback on Friday after falling for seven straight sessions after the RBI hiked interest rates by 50 basis points on expected lines and projected inflation coming under control from January next year. A strong recovery in the rupee added to the momentum, traders said. Overcoming a wobbly start, the 30-share BSE Sensex soared 1,016.96 points or 1.80 per cent to settle at 57,426.92. During the day, it rallied 1,312.67 points or 2.32 per cent to 57,722.63.
Glenmark plans to start selling its anti-diarrhoea drug, Crofelemer, by the first-half of 2010 across the globe, except in North America, Europe, Japan and China, the company said. The confidence to sell the drug ahead of its rivals comes as the Crofelemer's original developer, Napo Pharmaceutical Inc, recently entered into a tie-up with a US-based drug maker, Salyx, for selling the drug in the US market, paving the way for Glenmark to sell it in the rest of the world.
Indian Pharma majors are looking at different strategies to boost their global business.
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