Mylan had sued the United States Food and Drugs Administration for providing the exclusive right to Ranbaxy, alleging the permission was given on the basis of 'falsified data'.
US-based Mylan Laboratories Inc has acquired around 51.5 per cent stake in pharmaceutical company Matrix Laboratories for Rs 306 per share.
Daiichi-Sankyo's $5.3 billion acquisition of India's biggest drugmaker will help the Japanese company compete in the US markets with rivals such as Mylan and Israel-based Teva Pharmaceuticals and climb to become the world's 15th largest pharmaceutical company. Thus it is an important move on the part of an original drug research company to attach generic business portfolio," noted Ranjit Shahani, the vice-chairman and managing director of Novartis India.
Biocon was scouting for more strategic alliances and exploring opportunities for outlicensing its biotech drugs under development, as it pitches for a slot among the top three bio-pharmaceutical players across the globe, said Kiran Mazumdar-Shaw, chairman and managing director.
The Union health ministry on Friday said license has been given to five more manufacturers for production of Amphotericin-B, used in the treatment of black fungus, and they will start producing 1,11,000 vials of the drug per month from July.
This import duty exemption would remain in force till October 31 this year.
Cadila, Biocon developing rapid antibody testing kits; Eris, Mylan, Gland importing. There are two kinds of testing for the novel coronavirus - the real-time polymerase chain reaction test kit that uses throat or nasal swabs and provides results in a few hours, and the other is antibody-based rapid testing kit that use blood samples and provides results in a few minutes.
As India's drug majors in this segment increasingly trip on American standards, increasing the scrutiny on their practices, their counterparts look up there.
Of the top-10 global biotech companies, the biggest two -- Amgen and Biogen -- have already set up wholly owned subsidiaries in the country.
The government has also given permission to 20 plants to produce the antiviral drug.
With local companies facing stress in domestic operations, valuations are down.
Dr Reddy's, Glenmark, Wockhardt have lined up alternatives for Zytiga
Among the companies likely to sign deals with Gilead are Cadila, Hetero, Strides Arcolab and Mylan, while Cipla is expected to earn active pharmaceutical ingredient rights.
The founders of Gland Pharma, led by Ravi Penmetsa, and KKR, together own 96 per cent of the company.
Hetero has priced the injectable drug at Rs 5,400 per 100 mg vial. With More drugmakers in line to launch the drug soon, the prices may see a further erosion.
The Singapore subsidiary of the UK-based GlaxoSmithKline plans to buy 24.33 per cent stake or 2.06 crore equity shares in GlaxoSmithKline Pharmaceuticals Ltd through an open offer.
US firm Mylan NV received a stern warning from the FDA in August for faulty manufacturing practices at three of its India drugmaking plants.
The FIPB, headed by Department of Economic Affairs Secretary Arvind Mayaram, discussed 30 foreign direct investment proposals, including 10 from pharma sector.
The antiviral drug may cost around Rs 55,000 for an 11-dose course, or Rs 5,000 per injection -- much less than the price of imports from Bangladesh, reports Sohini Das.
FDI in drugs and pharmaceuticals was $487 million during April-August 2012, according to the latest data of the Department of Industrial Policy and Promotion.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
Details on prices sought as 10 generic drugs become up to 83 times costlier in 6 months
Indian pharma firms under European drug regulator's scanner.
While companies continue to face regulatory pressure leading to higher costs, they see an uptick from the launch of differentiated and high-margin products
The finance ministry is resisting pressure from other departments to cap foreign ownership of domestic drugmakers, fearing such a move would discourage potential investors, a senior ministry source said.
Unlike India, the US is a free-pricing market.
The challenge of merging Ranbaxy into the company has not been factored in.
The number of small units has come down drastically, as large companies have expanded their manufacturing capacity.
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.
The Ranbaxy experience has made multinational corporations more cautious about Indian acquisitions in general
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According to information available on the European Commission website, Ranbaxy Laboratories has been fined euro 10.32 million (over Rs 80 crore).
The 30-share Sensex ended 50 points lower at 28,112 and the 50-share Nifty declined 12 points to close at 8,531.
Indian firm to soon launch copycat of anti-breast-cancer drug.
The benchmark Nifty rallied 1,000 points or 17% from 7,000 in 78 trading sessions since May 12, till date to surpass the 8,000 mark.
Even smaller companies like Torrent Pharma and Alembic file five to 10 ANDAs every year.
'Pay-for-delay' settlements between drug patent-holders and generics manufacturers to delay the launch of cheaper generic medicine are increasingly being scrutinised by antitrust regulators
Import alert on Ranbaxy's Mohali unit; Strides' injectible arm gets warning letter
It's time for Indian generic companies to rethink their strategies.
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