The company will transfer its 50% stake in its JV firm, NTPC-Orchid Pharmaceuticals to NCPC for a total cash consideration of USD 13.9 mn.
Orchid Chemicals and Pharmaceuticals Ltd has entered into a marketing alliance with Australia-based Mayne Pharma, for distribution of select life-saving injectable antibiotic formulations.
Orchid Chemicals and Pharmaceuticals has announced the formation of Orchid Research Laboratories, a subsidiary that will house all of Orchid's research and development activity.
Pharmaceutical major Ranbaxy Laboratories, which has been linked to a hostile takeover bid of Chennai-based Orchid Chemicals, on Wednesday said the company does not believe in such practices.Solrex Pharma, reportedly a Ranbaxy promoter group firm, had acquired over 8 per cent stake in Orchid Chemicals through open market purchases. The Ranbaxy official also declined to confirm or deny if Solrex Pharma is a part of the Ranbaxy Group.
The anti-depressant drug market in the US is primarily ruled by Effexor XR (Venlafaxine) of Wyeth (now owned by Pfizer).
Pharma major Orchid Chemicals & Pharmaceuticals on Monday said USFDA has completed inspection of its state-of-the-art formulations facility located at Irungattukottai in Chennai.
Ranbaxy, originally promoted by the Singh family, was acquired by Japan's Daiichi Sankyo late last year.
K Raghavendra Rao, one of the founding promoters and managing director of Orchid Chemicals and Pharmaceuticals, said he may initiate talks to buy back its 14.7 per cent stake that is now with Rexcel, a unit of pharma major Ranbaxy.
The haircut for major banks stands at 52 per cent, if the dues of Jaypee Infrastructure, Lanco Infrastructure and Era Infrastructure are kept out of the calculation.
In a fresh round of patent battle over the launch of generic drugs in the US market, domestic pharmaceutical majors Orchid, Sun Pharma and Ranbaxy Laboratories have been sued by Cima Labs, Otsuka Pharmaceutical Co and Abbott Laboratories, respectivel
Dr Reddy's Laboratories, Jubilant Organosys, Orchid Chemicals, Aurobindo Pharma and Shasun Chemicals and Drugs are among those who have borrowed either to expand locally or to acquire companies abroad, but are now struggling to repay the dues, analysts say. Some of the companies' debt now exceeds their market capitalisation, as local and global investors sold stocks on concerns over slowdown and falling revenues. A few drug makers may be forced to sell assets to repay debt.
Spending allocation covers salaries, consultancy, litigation, material expense and regulatory costs.
Easier dilution norms for mega initial public offerings (IPOs) have come into effect. Companies with post-listing market capitalisation (m-cap) of more than Rs 1 trillion will not be required to dilute a minimum of 10 per cent. The move to relax dilution norms is seen as a precursor to Life Insurance Corporation's IPO. The central government has said companies with an m-cap exceeding Rs 1 trillion will have to dilute Rs 5,000 crore and at least 5 per cent of their m-cap. Experts said the earlier framework discouraged large companies from listing since they were forced to offload a large volume of shares during the time of their IPO.
A key lesson for the pharmaceutical sector in this case is to not downplay the significant impact that regulatory non-compliance can have on operations.
These together account for 40 per cent of bad loans of around Rs 4 trillion.
Teva Pharmaceutical Industries Ltd has sued Indian drug makers, including Ranbaxy Laboratories and Dr Reddy's, for alleged patent violation of ingredients used in Coreg, used for treatment of cardiovascular diseases.
Pharma majors are collaborating with foreign companies to develop newer drugs.
'Professors can teach even when they are 90 because they don't lose their skill with words. Go deeper and there's spirituality in it.'
The increasing number of generic players tapping the US market for known molecules has resulted in pricing pressures and lean margins.
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
United States-based drug major Forest Laboratories has sued three Indian pharmaceutical companies -- Orchid Chemicals and Pharmaceuticals, Lupin and Wockhardt -- along with four other manufacturers for coming up with imitations of patented drugs in the US.
It is a Budget with a strong emphasis on agriculture, education, healthcare and infrastructure.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Real test of the rally in this segment will be the upcoming result season.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Owners of Pune-based Serum Institute of India, the Poonawalla's have thrown the hat to acquire the iconic Grosvenor Hotel in UK from Sahara Group.
Benchmark share indices ended lower for the third straight session as investors turned cautious amid tensions in Iraq even as consumer durables shares stole the limelight tracking rally in gold prices.
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