Swiss drug major Novartis' Indian arm is upbeat about its rural sales initiative, Arogya Parviar and plans to double its reach in the country over the next few years. "Arogya Parivar that started as a novel rural marketing initiative is now a profit-making body.
For patients, the immediate impact is a reduction in the final cost of therapies that often run into lakhs per month.
The face of MNC drug firms in India and champion of IPR protection, he oversaw the Swiss giant's India expansion, its forays into new therapies and setting up of its global service centre in Hyderabad
Novartis India Ltd has reported a 83.48 per cent rise in net profit at Rs 113.76 crore (Rs 1,137.6 million) for the fiscal ended March 31, 2004, compared to Rs 62 crore (Rs 620 million) in the previous financial year.
The $1.2 billion in-space manufacturing market is expected to grow and be worth more than $20 billion by 2033.
The company is likely to increase buy-back offer from Rs 351 to Rs 425-450. The open offer price is likely to be revised from the earlier Rs 351 to between Rs 425 and Rs 450, as the current share prices of Novartis India are above the present open offer price, the sources added.
India has not accepted the demand of the UK for inclusion of a 'data exclusivity' provision in the free trade agreement, announced on May 6, in a bid to protect the interests of the domestic generic drugs industry, an official said. During the negotiations, the UK had asked to include this provision in the trade pact.
Procter & Gamble has announced Shailesh Jejurikar as its next CEO, effective January 1, 2026. Jejurikar, an India-born executive, will succeed Jon Moeller in the role.
The company will continue to introduce products in the country, but not invest in R&D here, Novartis India Ltd Vice-Chairman and Managing Director Ranjit Shahani said at a press conference in Mumbai.
However, analysts say it is not immediately clear if the merger would have any impact on Novartis India, the listed Indian subsidiary of the company.
The offer by Novartis AG is to acquire up to 1,24,64,710 shares, representing a 39 per cent stake in Novartis India, at a price of Rs 351 per share. Earlier in March, the drug firm had said its Swiss parent's open offer for hiking its stake in Novartis India would begin on May 14, but on Friday rescheduled the offer date.
Voveran, Novartis India's flagship pain killer medicine, has become the largest selling domestic drug with sales of more than Rs 11 crore (Rs 110 million) in March 2008, displacing Pfizer India's cough and cold syrup Corex, which had sales of Rs 10 crore (Rs 100 million). Cipla, on the other hand, maintained its leadership position as the largest domestic pharmaceutical company edging out Ranbaxy Laboratories with a market share of 5.24 per cent.
Novartis India is up in arms against a two-month old decision of the National Pharmaceutical Pricing Authority to reduce the price of its flagship brand Voveran on public interest grounds. The annual sales of Voveran, the brand name for pain reliever medicine diclofenac, exceed Rs 100 crore and account for one-fourth of the company's total sales turnover. The company has filed a review petition with the chemicals and fertilisers ministry against the authority's decision.
A meeting of the board of Novartis India Ltd will be held on January 30 to take on record unaudited financial results of the company for the third quarter ended December 31, 2002.
Natco Pharma has opposed an application made by Novartis India to the controller of patents, for grant of a patent for an anti-cancer drug 'Imatinib Mesylate'.
Drug major Novartis has been slapped with a Rs 300-crore penalty by drug regulator NPPA for overcharging consumers on sale of Voveran, its best-selling painkiller medicine.
The board of directors of Novartis India has approved a proposal to sell the Rifampicin bulk drug business, together with its Mahad facility, to Sandoz for Rs 30.77 crore (Rs 307.7 million).
'Obesity is a raging conversation globally now, and manufacturing of generics will pick up after the patent expires.'
Court has barred generic drugmaker Cipla Ltd from making or selling a cheaper copy of Novartis AG's respiratory drug Onbrez domestically.
Legal experts and official sources said the alleged submission of fake documents can also lead to criminal charges against Novartis.
Novartis India Ltd has posted a net profit of Rs 122 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 175.30 million in the corresponding period last fiscal.
Data contradict Swiss drug major's claim that India does not respect IPR.
On Tuesday, Novartis agreed to buy GSK's oncology products business for $14.5 billion, while selling its vaccines business, excluding flu, to GSK for $7.1 billion.
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 two companies agreed to form a joint venture by combining Novartis' over-the-counter division with GSK's consumer business to create a business with $10 billion in annual sales. GSK will hold a 63.5 per cent stake in the venture.
Barring a few, such as Andhra Pradesh Chief Minister N Chandrababu Naidu (74), Union Minister C R Patil (69) and Uttar Pradesh Finance Minister Suresh Khanna (71), most other ministers attending the WEF represent the next generation of India's politicians.
It plans to make Hyderabad as its back office hub for data management in clinical research and financial service segments. Novartis is putting infrastructure to put all these people in one place and the centre is expected to turn operational next year. It will be the back office for Novartis' pharmaceutical operations and will find many PhDs and post-graduates working there, said Jurgen Brokatzky-Geiger, head (human resources), Novartis.
The centre is expected to enhance our existing in-house research and development resources.
Swiss drug maker Novartis might face tough action from the country's drug regulator for allegedly giving fake documents while seeking renewal of registration for Tiamulin Hydrogen Fumerate (80 per cent granules), sources said.
Novartis said it is partnered with generic drugmaker Lupin Ltd to sell the drug in India
The multinational has filed infringement proceedings and is seeking an injunction against the Indian rival at the Delhi High Court, trying to block the Bangalore-based biotechnology firm from launching a generic version of Galvus, also known as vildagliptin.
The Supreme Court had rejected the company's plea for a patent on cancer drug Glivec in April.
In a development that could hasten the entry of the generic version of Gleevec into the US market, Indian drug major Sun Pharma has sued Novartis Pharmaceuticals Corp in the District Court of New Jersey, demanding rights to launch a generic version of the cancer drug before the Novartis patent expires.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
Novartis' threat that it would not introduce new medicines in India after the verdict is hollow, says Anand Grover.
The patent department made this declaration on August 16 after Novartis had failed to respond to its queries within the prescribed time.
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