The group's testing lab chain SRL Ranbaxy has been renamed as Religare Super Laboratories. RanAir, its charter aviation company will be known as Religare Voyages. About 15 group companies, including joint ventures like Religare Macquarie Private Wealth, Religare Aegon and Vistaar Religare have come under the umbrella brand Religare.
Retail sales of Ranbaxy Laboratories, Cipla, Nicholas Piramal, Lupin and other drug makers have jumped by over 10 per cent in the domestic market despite the sales of generics or copycat versions of patented drugs falling in leading global markets such as the US and Europe.
Promoter of Ranbaxy Laboratories, Malvinder Mohan Singh, not only sold a strategic stake in his company to Japanese pharma major Daiichi Sankyoand, he even managed to get a good increment for himself. According to the company's extraordinary general meeting notice, Singh will now earn a salary and allowances of Rs 25 crore per annum as against Rs 19.58 crore earlier.
Slated to become the second healthcare company after Apollo Hospitals to go public, Fortis will offload up to 25 per cent equity through the IPO. The rest will remain with the promoter family.
Having moved into original research, they have attracted overseas professionals looking to come back, some nudged by MNCs' narrowing research.
There is a cluster of three buildings in Gurgaon that one can easily lose in the landscape of this Delhi suburb. But once inside, you cannot miss the smell of white powder or the rustle of some 1,400 lab coats.
Ranbaxy said on Thursday that it has signed an exclusive licensing agreement with US-based Atrix Laboratories to develop and market prostrate cancer drug Eligard in India.
Indian drugmakers' domestic sales of ready-to-take medicines in January-March could be lower than expected as distributors suspended stocking in anticipation of a new value-added tax system coming into force, analysts and industry members said.\n\n\n\n
Ranbaxy's US factory, Ohm Laboratories, is learnt to have got a clean chit from the American regulator. This US facility was under surveillance of the Food and Drug Administration (FDA) since the end of 2012.
Ranbaxy on Tuesday announced it had got final approval from the US Food and Drug Administration to market its Metformin HC1 tablets for diabetes.
The recalled drugs were manufactured and distributed in the US by Ohm Laboratories.
The company sold over 21 crore (210 million) shares in Sun Pharma.
Indian pharmaceutical majors Dr Reddy's Laboratories and Ranbaxy Labs have made it to the list of 105 best pharmaceutical companies in Asia.
'Nothing in this world is permanent. So also in business.' 'And more so in family businesses where family issues often influence business decisions,' point out S Subramanian and Nupur Pavan Bang.
Its factory in Chikalthana in western India was last month hit by the British drug regulator's curb on imports from the plant over manufacturing deficiencies.
Ranbaxy is understood to have pulled out of the race to acquire German pharmaceutical company Merck's generic business on concerns of over-valuation.
The recent recalls come amid increased FDA scrutiny of medicines produced in India.
The exchange had earlier said that DLF would move out from Group A.
The relationship between the Singh brothers, erstwhile promoters of Fortis Healthcare, went sour after allegations of fund diversion from the healthcare chain emerged.
Engineering major BHEL rebounded from its day's lows to end around 1% higher.
4 Ranbaxy facilities in India have been barred from exporting to US.
FDA inspectors visited the Mohali plant in the process of giving approval to Ranbaxy's application for Valsartan.
Recently, Ranbaxy and Wockhardt too were hauled up.
In 2008, Daiichi Sankyo had bought the entire 34.82 per cent stake in Ranbaxy from its promoters, Malvinder Mohan Singh and family, for $4.2 billion. Currently, Singh is executive chairman of Fortis Healthcare.
Indian pharma firms under European drug regulator's scanner.
IT, pharma and FMCG stocks are the top performers in 2013.
India has capped the prices of 36 drugs, including those used to treat infections and diabetes, in its latest move to make essential medicines more affordable, a senior official of the country's drug pricing authority told Reuters on Friday.
Sun Pharma's Dilip Shanghvi is India's richest person.
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