Parke Davis India Ltd said it fixed March 14 record date to determine entitlement of allotment of equity shares of Pfizer Ltd to the shareholders of Parke Davis India Ltd pursuant to an amalgamation.
The company's share price touched a 52-weeks high on Monday on speculation that the global drug major, Pfizer, may buy stake or strike a marketing deal with the company.
Nestle's acquisition of Pfizer's infant nutrition business has an India angle to it. While Pfizer does not have its infant nutrition brands such as SMA Gold, Promil Gold, Progress Gold and Promise Gold in India yet, the threat that it could launch these products in the country was always there, thanks to its strong presence in neighbouring countries such as China, Indonesia and the Philippines.
The merger of Pfizer and Wyeth is expected to create the second-biggest drug maker among multinational companies in India. The world's largest drug maker Pfizer yesterday announced a $68-billion acquisition of US-based Wyeth.
Employees allege forcible layoffs; firm says ensuring it "best maximises performance and optimises resources"
US giant expected to bid for 65% non-promoter stake.
'It is admitted that the AZ vaccine can, in very rare cases, cause TTS.'
Ranbaxy Laboratories on Tuesday stood firm on its strategy of challenging patents, even as Pfizer has filed a suit against it to block the Gurgaon-based firm from going ahead with plans for Caduet.
In yet another case of an Indian company shopping abroad, Bangalore based contract manufacturing firm Kemwell Pvt Ltd has bought Pfizer's production plant in Uppsala, Sweden for an undisclosed sum.
Amid reports of a US Congress probe against India's largest drug maker Ranbaxy Laboratories, data show that many leading multinational companies such as Pfizer, GlaxoSmithKline, Novartis and Merck are also under the scanner of the US drug regulator, for more or less similar violations as Ranbaxy is alleged to have committed.
The world's largest pharmaceutical company by sales told the scientists and technicians around the world that it is eliminating their jobs. By the year end, it expects to have laid off five per cent to eight per cent of its 10,000 researchers, the Wall Street Journal said, quoting head of Pfizer's research and development Martin Mackay.
US Department of Justice had charged Wyeth for promoting its acid reflux drug Protonix for unapproved uses and making unproven claims.
Nicholas Piramal India Ltd said on Thursday its UK subsidiary has entered into an agreement to acquire the manufacturing facility of global pharma company Pfizer Inc at Morpeth, UK, on an asset purchase basis.
The drastic measure will help the company to counter its failure to meet the pricing by generic drug manufacturers.
Ahmedabad-based pharma company Torrent Pharmaceuticals is to acquire a Pfizer Group company, Heumann Pharma in Germany engaged in marketing of generic medicines.
The Indian pharmaceutical market (IPM) grew 6.8 per cent to touch a turnover of ~1.93 trillion in calendar year 2023, despite volumes going down marginally by 0.9 per cent. This indicates the price increase has been the major growth driver. Growth in the moving annual turnover (the previous 12 months' turnover) in December was 5.1 per cent and that in new product introduction 2.6 per cent, while volumes dipped 0.9 per cent, leading to an overall growth rate of 6.8 per cent, according to the data from market research firm Pharmatrac.
As many as 15 companies across the world have lined up generic variants of Pfizer's Zoloft (Sertaline HCL), for which the exclusive six-month marketing period granted to the successful patent challenger, Teva of Israel, ends on Tuesday.
The world's largest pharmaceutical company is accused of carrying out drug trials of Trovan -- an antibiotic -- on Nigerian children injuring and killing them.
The rally in the equity markets in the second half of 2023 has led to a sharp surge in the cutoff for stocks to qualify as largecaps and midcaps. On the latest list put out by the Association of Mutual Funds in India (Amfi), the smallest largecap stock now has a market capitalisation (m-cap) of Rs 67,000 crore, 35 per cent higher than in July 2023. In the case of midcaps, the cutoff has surged 26 per cent to Rs 22,000 crore.
The pharmaceuticals sector is expected to post a revenue growth of around 13.5 per cent and a net profit growth of 30.3 per cent for the third quarter of 2023-24 (FY24), riding on the approval for niche drugs in the US market, fall in raw material prices and correction in shipping rates. In the healthcare segment, hospitals are expected to post revenue growth of 13 per cent during the coverage, while net profit growth would be around 37 per cent, ICICI Securities said in a note. However, the performance may not be comparable on a sequential basis due to the offset of the festive season in Q3FY24, the analysts noted.
Dr Malhotra, who has demanded a full safety review into the use of AstraZeneca's Covid vaccine, told PTI Covishield "should never have been rolled out in the country in the first place".
Interestingly, the European Patent Office is yet to grant a patent for Maraviroc, citing insufficient data, sources said. These were the main reasons cited by the Indian Patent Office for rejecting the patent for the cancer drug Gleevec, which snowballed into a global patent battle between the Swiss drug major Novartis and the Indian government.
A number of Indian medical experts on Monday supported calls from an eminent British Indian cardiologist for a full safety review into the use of Oxford/AstraZeneca's Covid-19 vaccine, administered in India as Covishield, over feared serious side effects such as heart attack and stroke.
The merger of Indian subsidiaries of Parke Davis and Pfizer, following global amalgamation of the two pharma giants, is delayed with the Supreme Court refusing to entertain a petition challenging a Bombay high court order staying the merger process.
Pfizer Ltd has posted a consolidated net profit of Rs 759.40 million for the year ended November 30, 2002 where as the net profit was at Rs 474.90 million for the year ended November 30, 2001.
Shares in Sun Pharmaceutical Industries fell by more than 5 per cent after the company settled a patent suit with Pfizer Inc related to its acid-reflux drug for $550 million.
The top 300 pharmaceutical brands in the country will now bear a quick response (QR) code on their packaging to rein in spurious drugs and ensure better traceability.
Following up first doses of the AstraZeneca or Pfizer vaccines with second doses of the Moderna or Novavax jabs generates robust immune response against COVID-19, according to a study published in The Lancet journal.
Initial data has shown immunity triggered by the two mRNA vaccines -- Pfizer-BioNTech and Moderna -- lasts for at least six months
The researchers from King's College London in the United Kingdom also found that most systemic side effects -- meaning side effects excluding where the injection took place -- peaked within the first 24 hours following vaccination and usually lasted 1-2 days.
India is not keen to 'bow down' to demands related to indemnity against legal liabilities in case any vaccine recipient develops severe adverse reactions post inoculation.
Gennova has also got permission for phase-2 and 3 clinical trials for its lyophilised mRNA vaccine for injection from the subject expert committee advising the Central Drugs Standards Control Organisation, reports Sohini Das.
Pfizer Inc and BioNTech SE have said that their vaccine candidate has been found to be more than 90 per cent effective in preventing COVID-19.
Due to the massive short supply of Paxlovid, demand for Indian generic versions has gone up through Chinese e-commerce platforms.
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