Drug firm MSD has decided to enter into voluntary licensing agreements for investigational oral antiviral drug candidate 'Mmolnupiravir', which is being studied for the treatment of Covid-19, with Indian drug firms Sun Pharma, Cipla, Dr Reddy's, Emcure Pharma and Hetero Labs, its Indian arm said on Tuesday.
ICICI Bank was the top loser in the Sensex pack, shedding nearly 2 per cent, followed by UltraTech Cement, Asian Paints, ITC, Kotak Bank, Axis Bank and PowerGrid.
'The Centre is planning to procure five million vials of Remdesivir ahead of the third wave. What's better is that this time, the government is paying us in advance,' said a senior executive of a Mumbai-based pharma player which makes Remdesivir. Sohini Das reports.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
With the growing voice of developing countries like India, Brazil and China, the big pharmaceutical firms will not be able to get the WTO's Trade-Related Intellectual Property Rights agreement changed to their advantage, Commerce Secretary Rahul Khullar said in New Delhi.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
Bharti Airtel was the top loser in the Sensex pack, falling over 3 per cent, followed by Bajaj Finance, PowerGrid, SBI, HDFC Bank and Sun Pharma. HCL Tech was the top gainer, rallying around 10 per cent. TCS, Infosys, Tech Mahindra and Titan too ended with up to 5 per cent gains.
This unprecedented rate could attract more global companies to enter the domestic drug market, thus triggering more buyouts of Indian companies by multinational drug makers, said industry experts.
Modi on Saturday will embark on a three-city tour to take stock of the COVID-19 vaccine development work.
Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
SBI was the top loser in the Sensex pack, shedding over 1 per cent, followed by Reliance Industries, Tech Mahindra, M&M, L&T, Bharti Airtel, IndusInd Bank and HDFC. NSE Nifty slipped 31.60 points to 15,824.45.
Investors have lost over Rs 5.55 lakh crore in four days of declines in the domestic equity markets. Rising domestic COVID-19 cases and selling in RIL and banking stocks dragged down the 30-share BSE Sensex by 562.34 points or 1.12 per cent to 49,801.62 on Wednesday. In four days, the benchamark has fallen by 1,477.89 points or 2.88 per cent. The market capitalisation of BSE-listed companies has tanked by Rs 5,55,400.52 crore in four days to reach Rs 2,03,71,252.94 crore.
Jhunjhunwala increases stake in DHFL, luggage maker VIP Industries and pharma major Lupin but is cautious on auto holding. At the end of the March quarter, Jhunjhunwala held positions in 29 firms.
India lost its competitive advantage as China gave fiscal benefits to its local manufacturers. Besides, recent policy flip-flops have, however, dented India's image as the 'pharmacy of the world'.
ICICI Bank was the top gainer in the Sensex pack, rising around 4 per cent, followed by UltraTech Cement, Sun Pharma, Bharti Airtel, HUL, SBI, L&T, Axis Bank and IndusInd Bank. On the other hand, Reliance Industries, Bajaj Finserv, HCL Tech and HDFC were among the laggards.
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
ONGC was the top loser in the Sensex pack, shedding around 5 per cent, followed by Sun Pharma, PowerGrid, Bajaj Finance, IndusInd Bank, Dr Reddy's and Maruti. On the other hand, Reliance Industries, Titan, HDFC Bank and ITC were the gainers.
"The 2012 outlook for the Indian pharmaceutical industry is stable. The agency expects credit profiles to remain stable given that long-term earnings and profitability prospects remain intact with moderate capex," Fitch said in its report '2012 Outlook: Indian Pharmaceutical'.
IndusInd Bank was the top gainer in the Sensex pack, rallying over 15 per cent, followed by Bajaj Finance, HDFC, Axis Bank, ICICI Bank, M&M and SBI. On the other hand, Sun Pharma, Nestle India, NTPC, HCL Tech and Bajaj Auto were among the laggards.
Of the 1,145 offers made this year, consulting firms made up 34 per cent, followed by banking, financial services and insurance, pharma/healthcare, IT/ITeS and FMCG/retail.
The central government's decision to continue controlling supply of the swine flu drug, oseltamivir, will help the drug innovator, Swiss multinational Hoffmann-La Roche, and its Indian licencee, Hetero Drugs, maintain their effective monopoly in the country, even as the drug lacks patent protection in India, fear domestic industry circles.
Indian pharmaceutical companies are ready to take advantage of the new product patent regime, Commerce and Industry Minister Kamal Nath has said.
Riding over lower manufacturing cost coupled with availability of quality manpower with technical capabilities, the Indian pharmaceutical outsourcing industry is expected to reach $2.3 billion by the end of 2010, according to a report.
Holzer Holzer & Fistel, a US-based law firm, has announced it would file a class action lawsuit in the District Court at Michigan on behalf of investors of Caraco Pharmaceutical Laboratories. A Sun Pharma spokesperson did not comment on the proposed legal action against the US subsidiary.
With the virus mutating, can vaccines be assumed safe and effective in the long run?
The API of Paracetamol, a fever and pain medication, has grown 25 per cent from Rs 450-480 per kg in December 2020 to Rs 580-600 per kg in April. When compared to the pre-Covid prices of December 2019, the surge is much steeper -- around 140 per cent, reports Sohini Das.
Israeli drug firm Taro Pharmaceuticals has filed a law suit in a US district court against Mumbai-based Sun Pharmaceutical Industries alleging violation of non-disclosure agreement and misleading shareholders.
In percentage terms, IndusInd Bank, SBI, HDFC, ICICI Bank and L&T were among the top losers. On the contrary, Bharti Airtel, Reliance, Sun Pharma, HCL Tech and Maruti Suzuki emerged as major gainers.
American retail major Walgreens Boots Alliance on Tuesday said it would retain its pharma retail business - Boots UK - thus abandoning the entire sale process. The company did not make any comment specifically on the offer made by Mukesh Ambani-owned Reliance Industries (RIL), which had made a bid for the company last month. "As a result of market instability severely impacting financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots and No7 Beauty Company.
Tech Mahindra was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Infosys, HDFC, IndusInd Bank, Reliance Industries and NTPC. On the other hand, Hero MotoCorp, L&T, Maruti, UltraTech Cement and Sun Pharma led the gainers' chart.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by HUL, UltraTech Cement, Nestle India, Kotak Bank, Dr Reddy's and Titan. NSE Nifty surged 157.90 points to 17,234.15.
A law firm, Izard Nobel LLP, has initiated a lawsuit seeking class action status against the company in the United States District Court for the Eastern District of Michigan on behalf of its investors. The law firm said certain officers and directors of Caraco violated federal securities' laws and interests of the investors by giving misleading information on the business of the company. It has asked the investors to join the suit before September 15 to claim their damages.
Bharti Airtel was the top gainer in the Sensex pack, rallying nearly 7 per cent, followed by Bajaj Finance, Bajaj Finserv, Asian Paints, Titan, TCS and Tech Mahindra. NSE Nifty soared 201.15 points to an all-time closing peak of 17,132.20.
HDFC was the top gainer in the Sensex pack, rising around 3 per cent, followed by Bajaj Finance, HDFC Bank, IndusInd Bank, PowerGrid, UltraTech Cement, TCS, Tech Mahindra and L&T. On the other hand, ONGC, Maruti, Tata Steel, HUL, Bajaj Auto and Sun Pharma were among the laggards.
The duo bought additional shares in pharmaceutical companies Lupin and Jubilant Life Sciences, along with Agro Tech Foods and NCC during Q2FY21
HDFC was the top gainer in the Sensex pack, surging over 5 per cent, followed by M&M, L&T, Tata Steel, Bajaj Finance, HDFC Bank and Sun Pharma. On the other hand, IndusInd Bank, Hero MotoCorp, Bharti Airtel and Asian Paints finished in the red.
Maharashtra is the BRS' first target.
The focus will be on tackling the unfinished agenda requiring immediate attention like tax structure for solar projects, uniform tax rate on state-organised and state-authorised lotteries, taxing non-potable alcohol besides certain changes in the law, extension for NAA and rate rationalisation.
'For equities, inflation trending upwards but within the range of expectations can actually be a big positive as it helps earnings and may shift flows from bonds to equities.'
