Leading Indian drug majors, such as Ranbaxy Laboratories, Dr Reddy's Laboratories, Piramal Healthcare and Wockhardt, are in-licensing popular products from overseas drug makers to boost their domestic sales.
After making big-ticket acquisitions abroad, leading Indian pharmaceutical companies like Dr Reddy's Laboratories, Ranbaxy Laboratories, and Aurobindo Pharma are rapidly shifting production to their Indian facilities.
The company also said it would suffer a one-time loss of $3.8 billion on consolidated basis for its investments in Ranbaxy Laboratories. Daiichi Sankyo has based its estimates for the one-time write-down of goodwill on its investment in Ranbaxy to fully reflect the impact of the current turmoil in global equities, the company said.
'It might take 10 years before medicines of decent quality and price reach right down to the last village of India. Ranbaxy, with its India focus, intends to get there in five years.'
According to analysts, Indian drug makers are forging alliances with overseas companies such as CD Pharma, Gnosis SpA, Crawford Healthcare and Syrio Pharma to sell drugs for chronic and acute cases. According to analysts, Indian drug makers are forging alliances with overseas companies such as CD Pharma, Gnosis SpA, Crawford Healthcare and Syrio Pharma to sell drugs for chronic and acute cases.
Ranbaxy Laboratories, Dr Reddy's Laboratories and Sun Pharma's US subsidiary Caraco Pharmaceuticals are among the 13 generic manufacturers to get first generic approvals from the US Food and Drug Administration to manufacture and market generic versi
In a fresh round of patent battle over the launch of generic drugs in the US market, domestic pharmaceutical majors Orchid, Sun Pharma and Ranbaxy Laboratories have been sued by Cima Labs, Otsuka Pharmaceutical Co and Abbott Laboratories, respectivel
Indian firms raised the money via external commercial borrowings.
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Shares of Ranbaxy Laboratories on Thursday fell 7.67 per cent on the Bombay Stock Exchange to Rs 552.25 at close, after top investment banks like JP Morgan and CLSA said the out-of-court settlement with Pfizer over cholesterol pill Lipitor announced on Wednesday would delay the launch of the drug in the US by well over a year.
Sales growth of generics drugs has dropped to 3.6 per cent in the 12 months ended September 2008 compared with 11.4 per cent growth a year earlier, according to the latest report of IMS Health, the leading provider of market intelligence to the global pharmaceutical and healthcare industries. However, sales by volume increased by 5.4 per cent in the US, reflecting declining prices and fewer blockbusters losing patent protection in 2008.
But analysts see this as an encouraging shift of stance on part of Indian pharma companies that have so far been dependent on the patents challenge route.
The IPA complaint turns significant in the backdrop of increasing talk about foreign companies buying into Dr Reddy's, Piramal Healthcare and Aurobindo.
The decline in these was mostly due to company or sector-specific issues, say experts.
Year 2008 results of India's largest drug maker, Ranbaxy Laboratories, and Wockhardt were also impacted by forex losses. Companies such as Aurobindo and Orchid are also expected to post forex losses, say analysts.
Oil and Natural Gas Corporation has been adjudged the greenest company in the country, while Reliance Industries has been ranked second in a survey conducted by Business Today-ACNielsen ORG-MARG.
Indian pharmaceutical companies may have spread their wings far and wide, but they have been hitting the wall in China.
The government on Wednesday granted approval to Nokia, Wipro, Hewlett Packard, Reliance, Biocon, Ranbaxy Laboratories, Mahindra and Mahindra, Reliance energy and Adani Group's to set up Special Economic zones.
Drug major Sun Pharmaceutical Industries has acquired US-based Pharmalucence Inc for an undisclosed amount.
India plans to increase stockpiles of the anti-influenza drug Tamiflu or its generic version by 10-fold, from one million to 10 million currently, Bloomberg reported, citing Vineet Choudhary, joint secretary, Ministry of Health.
Dr Reddy's has reached an out-of-court settlement to launch the Glaxo-patented Imitrex, a migraine drug that had annual sales of $878 million as of March 31, 2006, in the US. Experts estimate Dr Reddy's may not get more than $8-$15 million sales in 2009 since majority of sales revenue has to be given to GSK, for allowing the launch the authorised generic version.
Veronica Laboratories has tied up with SRL Ranbaxy Ltd, a special reference laboratory, to carry out clinical investigations in HIV positive patients.
Ranbaxy Laboratories, Dr Reddy's, Nicholas Piramal and three other Indian drug companies cut their research costs by separating the units involved in developing new drugs, thereby addressing investor concerns on low operating margins.
Voveran, Novartis India's flagship pain killer medicine, has become the largest selling domestic drug with sales of more than Rs 11 crore (Rs 110 million) in March 2008, displacing Pfizer India's cough and cold syrup Corex, which had sales of Rs 10 crore (Rs 100 million). Cipla, on the other hand, maintained its leadership position as the largest domestic pharmaceutical company edging out Ranbaxy Laboratories with a market share of 5.24 per cent.
It hopes to turn around Ranbaxy within four years of closing the deal by improving efficiency and resolving all regulatory issues
PPD Inc has acquired exclusive worldwide license to develop, manufacture and market Ranbaxy's cholesterol lowering novel statin.
At least 150 of the 205 employees at Lotus India Mutual Fund may lose their jobs.
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