The proposed acquisition is expected to close by the end of 2014, subject to approvals from Indian Courts and the anti-trust body in India and the US
Trade deficit during the month narrowed to USD 14.54 billion from USD 15.3 billion in January 2020. It was USD 15.44 billion in December 2020.
The government on Monday said that multinational companies (MNCs) are campaigning against domestic pharmaceuticals industry as their interests were getting impacted due to increasing global presence of Indian firms in the generic segment.
Indian Pharma majors are looking at different strategies to boost their global business.
Sun Pharma stated the company wanted shareholders' approval to "issue, offer and allot equity shares or non-convertible securities, other than warrants, up to an amount of Rs 12,000 crore ($2 billion), to qualified institutional buyers pursuant to a QIP."
Japan's Daiichi Sankyo makes Ranbaxy Laboratories an offer it can't refuse -- $4.6 billion for a 50.1% stake in India's largest drugmaker.
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.
The number of small units has come down drastically, as large companies have expanded their manufacturing capacity.
Indian pharma company Lupin has acquired 80 per cent stake in Kyowa Pharmaceutical Industry (Kyowa), one of the top 10 generic pharmaceutical companies in Japan, for an undisclosed amount.
Both the units were under the scanner of FDA since 2011.
The report of the January 25 meeting was placed before the high court last week.
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.
The recall was initiated by the company on January 21
Among the Sensex firms, Bajaj Finance fell by nearly 3 per cent, the most among the 30 frontline companies. Bajaj Finserv, Axis Bank, HDFC Bank, Reliance Industries, NTPC, ICICI Bank and IndusInd Bank were the other major laggards. In contrast, Tata Motors, Sun Pharma, Maruti and Mahindra & Mahindra were the gainers.
Companies run till now by mostly their promoters are increasingly inducting professionals to head their teams.
Last month, the high court had ordered an interim status quo on the $4-billion deal, after a suit from some individual investors alleged insider trading in Ranbaxy's shares by Silverstreet Developers, Sun's wholly owned arm, before the deal was announced on April 6.
Ranbaxy drugs sold in the United States will be gradually rebranded as Sun Pharma treatments
Telangana chief minister K Chandrasekhar Rao on Wednesday announced the establishment of a massive industrial park dedicated to pharmaceutical manufacturing activities.
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.
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.
Leading job portal Naukri.com said on Tuesday that hiring was happening in selective sectors.
Dabur Pharma, a leading player in the domestic oncology segment, is busy finalising its marketing strategies for EU, the US and Australia.
Last week, the Department of Pharmaceuticals had notified the Drugs (Prices Control) Order 2013 under which prices of 348 medicines in the National List of Essential Medicines (NLEM) have been brought.
In May, price growth for drugs was in negative territory at (-)1 per cent
Torrent Pharmaceuticals' Rs 3,000 crore proposal for increasing FII investment limit to 35 per cent was the biggest in terms of value
Among the Sensex firms, IndusInd Bank, Tata Steel, Tata Motors, Sun Pharma, Infosys, Mahindra & Mahindra, Infosys, NTPC, Bharti Airtel, HCL Technologies and Axis Bank were the biggest gainers. Tech Mahindra and Bajaj Finance were the laggards.
While the innovators see data protection as an essential step to spur R&D, generics deem it as ploy to ensure monopoly by yet another name.
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".
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.
China and India's advantages such as lower costs and greater market opportunity outweigh the higher risk compared with the more established and mature regulatory regimes of Australia, Japan and Singapore.
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.
