The group is looking into a new role for Ranbaxy CEO and MD Arun Sawhney.
Among the Sensex firms, NTPC, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Sun Pharma, State Bank of India, Titan and Tata Steel were the major gainers. Tata Consultancy Services, Infosys, Axis Bank, Bajaj Finserv, UltraTech Cement and Bajaj Finance were the major laggards.
Mutual funds (MFs) are betting on a turnaround in the healthcare sector to boost returns but are divided on the prospects of the information technology (IT) sector amid uncertain growth outlook. At the end of June, all of the top 20 fund houses were overweight on the healthcare sector vis--vis the sector's presence in the BSE 200 index, shows a report by Motilal Oswal Financial Services (MOFS). In the case of the IT sector, only six of the 20 fund houses had overweight positions.
Let us see why the pharma index is valued at a premium by the market and why some companies are valued higher than others.
The move has come days after the state government announced to form a special investigation team to probe into the death of Disha Salian, the former manager of late actor Sushant Singh Rajput.
Reddy, who was an accused in a money-laundering case linked to the alleged liquor scam in Delhi, had turned an approver in the case that is being probed by the Enforcement Directorate (ED). The CBI is yet to file a chargesheet against him.
India's largest pharma companies by market capitalisation Sun Pharma, Dr Reddy's and Cipla have seen their share prices drop 5-20 per cent over the last two weeks on results that were below Street expectations.
The founders of Gland Pharma, led by Ravi Penmetsa, and KKR, together own 96 per cent of the company.
In November, DRL registered growth of 28 per cent year-on-year (YoY), which was the highest among peers and double that of the industry growth (14.5 per cent).
Global Pharma Healthcare is recalling entire lots of eye drop linked to vision loss in the US, according to the US Food and Drug Administration. The Chennai-based company is recalling all lots of artificial tears lubricant eye drops distributed by EzriCare, LLC and Delsam Pharma to the consumer level due to possible contamination, the US health regulator said in a statement. "The Centres for Disease Control and Prevention (CDC) alerted FDA to an investigation of a multi-state cluster of Verona Integron-mediated Metallo--lactamase (VIM)- and Guiana-Extended Spectrum--Lactamase (GES)- producing carbapenem-resistant Pseudomonas aeruginosa (VIM-GES-CRPA) infections possibly associated with the use of the artificial tears manufactured by Global Pharma Healthcare," USFDA said.
The rupee's appreciation of 6.4 per cent against the dollar and 12 per cent against the euro is likely to hurt the first-quarter performance of the pharmaceutical sector, indicate a results' preview by broking houses.
Gujarat has around 3,000 licensees for allopathic drug manufacturing, apart from around seven homeopathic licensees, 500 ayuvedic and 600-700 cosmetics licensees
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.
rediffGURU Chandu Nair advises entrepreneurs and enterprises about how to create and build their business.
Although the third quarter of financial year (2023-2024) FY24 (Q3FY24) was marginally below expectations, Info Edge (India) is witnessing strong investment trends and hitting new highs. The big driver is optimism about a pickup in the jobs market, which benefits Naukri.com and could mean upgrades in Q4FY24 expectations. The JobSpeak Index, which Naukri.com releases on a monthly basis, is showing a "transformative shift".
Pharma major Sun Pharma remained the worst loser in the Sensex pack for the second day in a row after reports that regulator Sebi may reopen the insider trading case against the company.
Severe price cuts help multinationals ramp up growth, gain market share.
The opposition's Indian National Developmental Inclusive Alliance (INDIA) will hold a 'maha rally' at Delhi's Ramlila Maidan on March 31 to safeguard the country's interests and democracy, Aam Aadmi Party leader Gopal Rai said on Sunday.
Sun, Lupin, Cipla have fallen 9-15% but fundamental prospects remain unchanged as analysts expect 15-25% earnings growth
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
The external affairs minister, speaking at a media summit organised by the TV9 Network, described the rise of India and China as "significant" in the global geopolitical scenario.
Biocon is the only Asian company to be on the list.
Among the index heavyweights, Reliance Industries ended down 1.9% while mortage lender HDFC eased 0.2%. FMCG major ITC ended down 1.3%.
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
Benchmark equity indices Sensex and Nifty settled with marginal gains on Thursday in a highly volatile trade amid the scheduled monthly derivatives expiry and muted trend in the US markets. The 30-share BSE Sensex closed 86.53 points or 0.13 per cent higher at 66,988.44, registering its third day of gains. During the day, it hit a high of 67,069.89 and a low of 66,610.35.
With a view to boost the vibrant pharma industry in the state, Andhra Pradesh government plans to set up mini-pharma cities
Bharat Rashtra Samiti leader K Kavitha is expected to be produced before a special Prevention of Money Laundering Act (PMLA) court by the Enforcement Directorate in New Delhi on Saturday for obtaining her remand for custodial interrogation in the money laundering case linked to alleged irregularities in the scrapped Delhi excise policy 2021-22, officials said.
Rupee appreciation has hit the pharma industry as exports for the financial year 2007-08 are estimated to rise a moderate 7 per cent against the targetted 30 per cent growth. Besides rupee appreciation, the dent in exports due to pricing pressure in the US, where a lot of products have gone off patent recently, also affected the exports.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
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
Mohit Burman, the youngest among the newly appointed corporate heads among Dabur businesses, is known to have a penchant for acquisitions.
Hit by the new drug pricing policy and regulatory interventions, growth rate of the Rs 72,069-crore Indian pharmaceutical market has slowed down to 9.8 per cent in 2013 as compared to 16.6 per cent in 2012, says a report.
Shares of Ranbaxy Lab and Sun Pharma on Tuesday gained as much as 4 per cent after the drug-makers got CCI's approval for their long-pending $4-billion merger.
Disappointed with past experience, domestic majors even skip giving any memorandum.
AHEL had earlier said it was looking for a strategic partner with international experience for its pharma business.
Pharma major Dr Reddy's Laboratories has opposed the parliamentary Standing committee's recommendations of increasing the number of drugs under price control and cap on profit margins of all medicines.
The United States Food and Drug Administration has issued a warning letter to it for manufacturing practice violations at its Cranbury facility in New Jersey.
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