Sun Pharmaceuticals on Wednesday said it has acquired a controlling stake in Israeli pharma major Taro Pharmaceuticals.
Andhra Pradesh is to house the country's first Special Economic Zone (SEZ) for Small and Medium Enterprises (SMEs). The first phase of the project, meant to house about 60 SME pharmaceutical manufacturing units in 200 acres of land is to be ready by mid-2008.
The S&P BSE Sensex and the Nifty50 have hit record highs amid the poll outcome-triggered bull frenzy at the bourses. Most analysts feel that the indices are on course to rise further over the next few months - till the general elections - albeit amid intermittent corrections - largely triggered by global developments. Bharatiya Janata Party's (BJP's) win in the three state elections of Madhya Pradesh (MP), Rajasthan and Chhattisgarh, analysts at Jefferies believe, reinforces the consensus expectations of a Modi win 2024 national elections with a greater likelihood of over 300 seats for the BJP.
Hyderabad-based bulk drug major Aurobindo Pharma is looking at acquiring a $100 million European company to launch its operations in the continent.
Last week, the court had vacated the status quo order it had issued earlier on the merger process between Sun Pharma and Ranbaxy.
Russia on Tuesday invited Indian pharmaceutical companies to set up joint ventures in the country. Russian Deputy Prime Minister Sergei Sobyanin during his meeting with Commerce and Industry Minister Anand Sharma said Russian pharma firms were keen to increase their engagements with Indian companies including setting up joint ventures.
The weakness in the stock was because of inspections by the American drug regulator at its Halol plant in Gujarat which resulted in eight observations, as well as a downward revision of speciality drug payoffs.
Rediff reader Rashmi Pillai, a pharma professional from Mumbai suggests how to stay positive and make the most of the lockdown.
Currently, 100 per cent FDI is permitted in brownfield pharma firms through clearance from the Foreign Investment Promotion Board.
As part of its global expansion plans, Dabur Pharma has acquired the sales and distribution network of Thailand-based Bioscience for an undisclosed sum.
From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, UltraTech Cement, ITC, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, NTPC, ICICI Bank and IndusInd Bank were the major laggards.
Opportunities will also stem from the clear support for generics.
Top executives of American pharma companies favour "dialogue" with India and "not confrontation" to address their concerns on key issues like the protection of intellectual property (IP) and clinical trials.
Mutual funds (MFs) lapped up shares of new-age businesses in April at a time when most of these stocks have recovered sharply from their 52-week lows. Nykaa and Zomato featured in the list of top 10 most bought shares by MFs last month, with fund houses' holdings in these two stocks rising by over Rs 1,100 crore, shows a report by Nuvama Alternative & Quantitative Research. Shares of Zomato had staged some recovery in April after remaining subdued for an extended period.
For a company that started in 1983 with just five people and five products, it's no mean achievement that Sun Pharma today commands the largest market capitalisation of Rs 21,271 crore (Rs 212.71 billion) in the pharma universe.
Dabur Pharma launched its new nano technology-based chemotherapy agent Nanoxel in the country on Thursday.
Members of the IMA and IPA had met Mansukh Mandaviya on Monday and expressed their concerns over the regulations.
Sun Pharmaceutical, which is growing its dermatology and ophthalmic specialty business in the US will spend $460 million on R&D.
We don't expect any big changes in on excise duty and custom duty rates, except in life saving drugs.
Indian pharma exports are likely to register 17-20 per cent growth this fiscal, touching the USD 12 billion mark, a top official of the Pharmaceuticals Export Promotion Council (Pharmexcil) said.
In a dazzling resurgence, foreign investors have graced the Indian equity markets with an influx of nearly Rs 1.5 lakh crore in 2023, fuelled by optimism over the country's resilient economic fundamentals amid shadows of a gloomy global scenario. Experts believe that the positive trend may continue in 2024. This follows Indian equities witnessing the worst-ever net outflow of Rs 1.21 lakh crore by FPIs in 2022 on aggressive rate hikes by the central banks globally after net inflows for three consecutive years.
Investors' wealth fell by Rs 2.89 lakh crore in two days of market fall, with the BSE Sensex tumbling 796 points on Wednesday, amid weak global market trends ahead of the US Federal Reserve's interest rate decision. Fresh foreign fund outflows and caution ahead of a host of interest rate decisions from global central banks also added to the overall bearish trend. Besides, the US Fed meeting, the BoE (Bank of England) and the BoJ (Bank of Japan) are also scheduled to meet this week.
The 50-share NSE Nifty stayed in the positive zone and retook the 9,900-mark to hit a high of 9,905.05 as buying paced up towards the fag end. It settled higher by 72.45 points, or 0.74 per cent, at 9,899.60.
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.
Even as the Supreme Court had recently dismissed the industry's plea against prices fixed by the regulator and its timely implementation, the National Pharmaceutical Pricing Authority has asked companies to pay the overcharged dues with 15 per cent interest.
The pharma sector seeks removal of Excise Duty on Bulk drugs & Formulation of Anti-AIDS, Anti-Cancer, Anti-TB and other life-saving drugs
From the Sensex pack, Sun Pharma, Maruti, Tata Motors, ITC, Nestle, Larsen & Toubro, Infosys, Asian Paints, Titan, Tech Mahindra, Power Grid and Reliance Industries were the major gainers. Bajaj Finance, Axis Bank, HCL Technologies, State Bank of India, HDFC, HDFC Bank, ICICI Bank and Bajaj Finserv were among the laggard from the 30-share pack.
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.
Sun Pharma's managing director Dilip Shanghvi, says we continue to look for opportunities to expand our business in all the key geographies and markets we are focused on.
FIIs are looking at the long-term story and initiatives of Indian pharma companies to transform themselves into global entities.
From the Sensex pack, Larsen & Toubro jumped over 3 per cent.ITC, Reliance Industries, Sun Pharma, Kotak Mahindra Bank, Axis Bank, Infosys and State Bank of India were the other major gainers.
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.
Sun Pharma's market capitalisation stood at Rs 100,050 crore on December 5, with its share price closing at Rs 417 a piece - lowest since March 2013.
From the Sensex pack, Power Grid, Mahindra & Mahindra, JSW Steel, HCL Technologies, Sun Pharma, Nestle, IndusInd Bank, Reliance Industries, Bharti Airtel and ITC were the major laggards. Tech Mahindra, Wipro, Bajaj Finance, State Bank of India, Bajaj Finserv, Axis Bank, Titan and ICICI Bank were among the major gainers.
Ahluwalia said India is also interested in stepping up cooperation with China on railways development.
Sun Pharmaceutical's acquisition of Ranbaxy has received final approvals.
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