In comparison, Indian companies received only 23 out of 139 final approvals (16.54 per cent) in the corresponding period in 2006.
A recent court ruling in the US on allowing the declaratory judgment provision in the US patent law has come as a boost to Indian pharmaceutical companies such as Ranbaxy, Dr Reddy's, Sun Pharma and Lupin.
Ranbaxy is understood to have pulled out of the race to acquire German pharmaceutical company Merck's generic business on concerns of over-valuation.
Analysts feel this decision is yet another example of big-ticket acquisitions turning sour for Indian pharma firms, as happened in the case of Dr Reddy's acquisition of Betapharm of Germany for Rs 2,250 crore (Rs 22.5 billion).
As many as 15 companies across the world have lined up generic variants of Pfizer's Zoloft (Sertaline HCL), for which the exclusive six-month marketing period granted to the successful patent challenger, Teva of Israel, ends on Tuesday.
Equity benchmarks extended their decline for the fourth straight session on Wednesday, with the Sensex falling 214.85 points after the Reserve Bank raised the key interest rate by 50 basis points. Continuous foreign fund outflows and surging crude oil prices also weighed on markets. The 30-share BSE benchmark dropped 214.85 points or 0.39 per cent to settle at 54,892.49.
Participants will watch out for the Brexit poll outcome in the late morning trades tomorrow.
This will be the largest M&A by an Indian firm, to be complete by January-end.
Within days of announcing mega investments for building in Hyderabad its second data centre cluster in India, Amazon Web Services (AWS) on Monday said it is excited about the India market, where cloud adoption offers massive headroom for growth. Pledging its long-term commitment to the India market, AWS, Amazon's cloud computing unit, said it expects global uncertainties to accelerate the decisions by companies to opt for flexible, on-demand cloud infrastructure to pare costs, gain efficiencies and drive business innovation. "Cloud reacts well to uncertainty," Puneet Chandok, president - commercial business, AWS India and South Asia, Amazon Internet Services Pvt Ltd (AISPL) told PTI.
The booming real estate markets in the National Capital Region, Mumbai and Bangalore registered the highest global yields in 2003, according to the latest updates by Chesterton Meghraj, a global real estate consulting group.
Thirty stocks from various sectors form the Sensex.
Not too long ago, authorised generics were used by the big US-based pharmaceutical companies to thwart competition from makers of generic drugs
Karnataka Chief Minister B S Yeddyurappa on Friday called on Governor H R Bhardwaj, who is gunning for the removal of Reddy brothers from the state ministry, and conveyed the government's stand against a CBI inquiry into the illegal mining scam at this stage.
On December 4 last year, the stock of the world's largest drugmaker, Pfizer, fell 10.6 per cent, wiping out more than $21 billion in market value in a single day.
The markets opened firm on Tuesday and crossed the 7,800 mark after opening with a gain of 7 points at 7,774.
Nifty PSU Bank index gained 1% led by Allahabad Bank, Andhra Bank, Syndicate Bank and IDBI Bank
The US Food and Drug Administration had in February approved Johnson & Johnson's COVID-19 vaccine that works with just one dose for emergency use.
Cipla is recalling the drug for failed impurities and degradation specifications.
US markets have been very lucrative for the Indian pharma companies and many companies such as Ranbaxy and Dr Reddy's capitalised on this opportunity.
Domestic pharma giant Ranbaxy Laboratories Limited has topped the list of patent filers in the area of drug applications from the Third World countries last year with 64 new formulations.\n\n\n\n
The Sensex closed up 22.50 points or 0.16% at 13,703.33, and the Nifty up 5.40 points or 0.14% at 3950.85.
The markets opened in the positive terrain but slipped and are trading flat as selling was seen in banking and pharma stocks
The Sensex slipped into negative territory, after opening 14 points up at 7,765.
The markets opened strong on F&O expiry today despite some mixed global cues
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