Shares of Dr Reddy's Laboratories jumped 5.3 per cent on Thursday to Rs 1,217 apiece, making it the top gainer in the Nifty 50 and the BSE 100 indices. By comparison, the Nifty 50 was up 0.53 per cent at 25,289.
Trump said California has been particularly "hard hit" because of this, blaming democrat Gavin Newsom, the Governor of California, for this loss, calling him "weak and incompetent."
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
Ohm Laboratories Inc, a wholly-owned subsidiary of Ranbaxy has received approval from the US Food and Drug Administration for manufacturing and marketing Valsartan tablets in strengths of 40 mg, 80 mg, 160 mg, and 320 mg on an exclusive basis, Ranbaxy Laboratories said in a statement.
'That is a significant milestone for us and something we aspired for.'
Pharmaceutical major Nicholas Piramal India Ltd on Monday said the company was looking for acquisition in United Kingdom and North America to expand its overseas operation.
Drug shortages in the US are at an all-time high, and price erosion has stabilised, which could benefit Indian pharmaceutical (pharma) companies with a US focus, according to analysts. Nuvama Research analysts said that US price erosion seems to have normalised to its old levels of 6-8 per cent and volumes are picking up with easing of inventory. Similarly, an ICICIdirect analyst noted: "Price erosion intensity has now moderated to a single digit and is expected to tone down a
DRL launched four new products in North America during the previous quarter.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
After being underweight on domestic agrochemical companies and preferring global plays, brokerages believe that the former may perform better in the quarters ahead. Domestic crop protection companies have faced multiple headwinds over the past year and a half, given high inventory costs, pricing pressures, lower realisations in the generic segment, increased stocks due to lower infestations, and demand-led hits to volumes. Some of the overhang from previous quarters was reflected in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24) as well, with aggregate revenues and operating profit for the sector down 12 per cent and 27 per cent, respectively.
The only category of pharmaceuticals that showed a negative growth in exports this time was herbal products, exports of which stood at $299 million as compared to $ 312 million in the previous year.
The plant and associated facilities focus on manufacturing or packaging Amoxicilin-based products, which include semi-synthetic penicillin
Amneal Pharmaceuticals is set to pip Sun Pharma as the fifth largest generics maker in the US, reports Sohini Das.
The combined sales of the branded versions of the products in the US is about $3.5 billion.
An insider said that over the past decade or so Cipla has become immune to the exits of leaders. There have been no directional change in the long-term strategies.
Ranbaxy Laboratories on Wednesday reported widening of its consolidated net loss to Rs 1,029.72 crore (Rs 10.29 billion) for the third quarter ended December 31, 2014
Demand will boom in the US and China, but exporters say it will be difficult for India to tap these markets.
Competition in the US pharmaceutical market swelled in recent years, with increasing generic penetration.
Private lenders HDFC Bank and ICICI Bank were the top gainers along with index heavyweights
Dilip Shanghvi founded Sun Pharma in 1983.
Data also show that several other leading domestic pharma companies have recalled their products from the US
'A bit of marketing, a bit of positioning, and a lot of strategic thinking is required, and all this should be in aid of India's strategic intent: Becoming the third pole in a global G3 and aiming for Numero Uno,' says Rajeev Srinivasan.
'India is no longer the India of the '70s and the '80s.' 'It's a large country with the fastest growing economy.' 'In working with India, you just can't go and humiliate the nation publicly.' USIBC President Mukesh Aghi tells Aziz Haniffa/Rediff.com about how he advises American companies to do business with India, what he thinks of Modi's government and the way forward for the India-US relationship.
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