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.
Asian markets were trading mixed with the Nikkei gaining after the US dollar strengthened against the yen.
Sun Pharmaceuticals on Wednesday said it has acquired a controlling stake in Israeli pharma major Taro Pharmaceuticals.
Senior advocate Prashant Bhushan, who appeared for the petitioners in the court, said at least 30 shell companies purchased electoral bonds worth over Rs 143 crore.
Hyderabad-based bulk drug major Aurobindo Pharma is looking at acquiring a $100 million European company to launch its operations in the continent.
Based on a writ petition filed by some individual investors, the High Court while ordering the status quo on Friday, issued notices to SEBI, BSE, NSE, Sun Pharma, Ranbaxy, Daichii Sankyo and Silver Street Developers.
The stock was the worst hit among the blue-chips on both BSE and NSE.
Fundraising via the initial public offering (IPO) route by companies may touch Rs 1 trillion in financial year 2024-25 (FY25), according to a recent note by Pantomath Group - a mid-market investment bank. During the financial year 2023-24 (FY24), 76 companies tapped the markets through mainboard IPOs, Pantomath said, raising nearly Rs 62,862 crore. This is a 21 per cent rise compared to FY23, the note added.
Apart from IT and pharma, the lead spenders in travel are construction, automobile and metals and mining companies and together these sectors accounted for 82 per cent of business travel spend in India in 2015, up from 78 per cent in 2013.
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.
Equity fundraising through initial public offerings (IPOs) rose 20 per cent during the financial year 2023-24 (FY24). During the period, 76 Indian corporates raised Rs 61,915 crore through main board IPOs, compared to Rs 52,116 crore mobilised by 37 IPOs in 2022-23, as disclosed by PRIME Database. However, if one excludes the mega Life Insurance Corporation (LIC) IPO, which came out in 2022-23, IPO mobilisation increased by 58 per cent from last year.
'It is admitted that the AZ vaccine can, in very rare cases, cause TTS.'
As part of its global expansion plans, Dabur Pharma has acquired the sales and distribution network of Thailand-based Bioscience for an undisclosed sum.
Pharma body wants all excisable goods used for R&D purposes should be exempted from central excise duty.
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.
Last week, the court had vacated the status quo order it had issued earlier on the merger process between Sun Pharma and Ranbaxy.
Opportunities will also stem from the clear support for generics.
India recorded the highest monthly exports during the fiscal in February, registering an 11.9 per cent growth to $41.4 billion, mainly driven by increased shipments of engineering goods, electronic items and pharma products. The trade deficit during February worked out to $18.7 billion, up from $16.57 billion in the year-ago month, as gold imports surged significantly. Merchandise imports were valued at $60.11 billion, up 12.16 per cent compared to $53.58 per cent in February 2023.
Currently, 100 per cent FDI is permitted in brownfield pharma firms through clearance from the Foreign Investment Promotion Board.
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.
rediffGURU Chandu Nair advises entrepreneurs and enterprises about how to create and build their business.
Investors turned cautious after India's trade deficit widened to a more than three-and-a-half-year high of $16.6 billion due to costlier crude oil imports
We don't expect any big changes in on excise duty and custom duty rates, except in life saving drugs.
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
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.
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.
The pharma sector seeks removal of Excise Duty on Bulk drugs & Formulation of Anti-AIDS, Anti-Cancer, Anti-TB and other life-saving drugs
Sun Pharmaceutical, which is growing its dermatology and ophthalmic specialty business in the US will spend $460 million on R&D.
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.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
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.
Defining "modern medicine" for the first time, the National Medical Commission (NMC), in its code of conduct, has introduced a major change, proposing the use of "Med Dr" as a prefix for those registered under the NMC Act, 2019, as practitioners of modern medicine.
Ahluwalia said India is also interested in stepping up cooperation with China on railways development.
