The Bengaluru-based firm has entered into a definitive agreement with Mylan for an exclusive strategic collaboration for the global development and commercialisation of generic versions of its three insulin analog products, Biocon Ltd said in a statement.
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'.
The Wall Street Journal has reported that the SEC has contacted many investment banks whose analysts cover generic drug-maker Mylan, asking about a meeting the company hosted last September with those analysts and a group of investors.
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.
Ending months long speculations on the chances of Indian companies in the bidding race for the world's third largest generic drug business
Ranbaxy was scheduled to launch its drug on September 21, the day Diovan's patent expired.
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.
Oscar nominated documentary film-maker Megan Mylan speaks to rediff.com's Arthur J Pais about her latest documentary -- Smile Pinki.
Over Dosas in Mumbai, Oscar winner Megan Mylan tells Vaihayasi Pande Daniel why she chose India and girls empowerment as the subject of her new documentary.
The emergency use of the drug will be for adult COVID-19 patients with SpO2 93 percent and who have a high risk of progression of the disease including hospitalisation or death subject to certain conditions
The 15 proposals were cleared following recommendations by Foreign Investment Promotion Board.
Roche said the Indian regulatory authorities had approved Biocon and Mylan's products as Trastuzumab, but it was unclear if these met the criteria for biosimilar products.
The government has also given permission to 20 plants to produce the antiviral drug.
Mylan has been showing the film free in movie theatres in several cities in America to discuss the work being done by Smile Train, an American organisation, in India and 75 other countries where it finances free surgeries for children with cleft lips.
This import duty exemption would remain in force till October 31 this year.
Other decisions piled up include rationalisation of GST rate slabs, correction of inverted duty on certain items and inclusion of petroleum products.
Ranbaxy's hope of a windfall from the $7-billion Lipitor market in the US is shining again. The US Food and Drugs Administration (USFDA) has taken a strong stance against US-based Mylan, which had opposed FDA's decision to allow approval to Ranbaxy's generic version of Lipitor.
A look at the pictures.
'The obvious opportunity is biosimilars, which are simpler but more expensive,' says Kiran Mazumdar-Shaw, founder of Biocon.
Indian drug maker Matrix Laboratories Ltd on Monday said US-based generic pharma firm Mylan Laboratories Inc will acquire up to 71.5 per cent stake in the company for around Rs 3,424 crore ($736 million).
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.
As India's drug majors in this segment increasingly trip on American standards, increasing the scrutiny on their practices, their counterparts look up there.
The announcement comes a day after the Subject Expert Committee (SEC) on COVID-19 of the CDSCO recommended granting emergency use authorisation (EUA) to the COVID-19 vaccines Covovax and Corbevax with certain conditions.
The Lunchbox director Ritesh Batra's Masterchef and Oscar and Emmy winner Megan Mylan's After My Garden Grows were among five films that won grants from the Sundance Institute and the Bill & Melinda Gates Foundation to make films focused on hunger and poverty.
With local companies facing stress in domestic operations, valuations are down.
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The upside for Ranbaxy Laboratories is likely to continue even as it loses its 180 days of marketing exclusivity for the Lipitor generic in the American market.
Films and features that have won acclaim at the Toronto International Film Festival and other events, get another showing at the Museum of Modern Art in New York.
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.
Indian drug companies have cornered an overwhelming majority of drug approvals under the US President's Emergency Plan for AIDS Relief.
The cast and crew of Smile Pinki are touring India, to spread the message of the film -- cleft lip operations -- and the greater vision of Smile Train.
The Smile Pinki team -- director Megan Mylan, Dr Subodh Kumar Singh, Pinki and Ghutaru -- chat with Rediff readers.
In conversation with Arthur J Pais, Megan Mylan discusses her Oscar-winning documentary film set in India.
Of the top-10 global biotech companies, the biggest two -- Amgen and Biogen -- have already set up wholly owned subsidiaries in the country.
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.
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).
Ranbaxy is understood to have emerged as the sole Indian pharma entity to have moved into the next round of bidding for the generic business of Merck, even as compatriot Cipla claimed to be "very much in the race."
The health ministry on Saturday recommended the use of antiviral drug remdesivir in moderate stage of COVID-19 while backtracking from its earlier stance on hydroxychloroquine, saying the anti-malarial drug should be used in the early course of the disease and not on critically ill patients.
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