Both the units were under the scanner of FDA since 2011.
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.
The recall was initiated by the company on January 21
The report of the January 25 meeting was placed before the high court last week.
In May, price growth for drugs was in negative territory at (-)1 per cent
In a massive setback to Delhi Chief Minister Arvind Kejriwal, the Delhi high court on Tuesday dismissed his petition challenging his arrest in a money laundering case stemming from the alleged excise scam, saying there was no contravention of legal provisions.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
The benchmark Nifty and Sensex could see another 8-10 per cent from the current levels, said HDFC Securities in its outlook for equity markets in 2024. The brokerage said that the market movement in the next year will not be linear, and there will be more volatility. When asked about the market reaction to the General Elections in 2024, Dhiraj Relli, managing director and CEO of HDFC Securities, said more than the outcome of the elections, the market movement in the next three to four months will decide the market trajectory post elections.
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.
Companies run till now by mostly their promoters are increasingly inducting professionals to head their teams.
The Congress on Friday alleged that the electoral bonds data has exposed 'corrupt tactics' of the Bharatiya Janata Party such as quid pro quo, seeking donations for the company's protection, kickbacks and money laundering through shell companies.
Leading job portal Naukri.com said on Tuesday that hiring was happening in selective sectors.
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.
Torrent Pharmaceuticals' Rs 3,000 crore proposal for increasing FII investment limit to 35 per cent was the biggest in terms of value
Dabur Pharma, a leading player in the domestic oncology segment, is busy finalising its marketing strategies for EU, the US and Australia.
ITC was the biggest loser from the Sensex pack, sliding 2.04 per cent, followed by Power Grid, Reliance Industries, Larsen & Toubro, Nestle, Kotak Mahindra Bank, Bajaj Finance and JSW Steel. On the other hand, Titan, State Bank of India, Bajaj Finserv, Axis Bank, Tata Steel, Sun Pharma, Tech Mahindra and Bharti Airtel were the gainers.
Sun Pharma emerged as the biggest gainer from the Sensex pack, climbing 2.09 per cent, followed by ITC, Titan, Bajaj Finance, Nestle, Infosys, L&T, JSW Steel, Reliance Industries and Kotak Mahindra Bank. UltraTech Cement, Maruti, HDFC Bank, Wipro, State Bank of India and NTPC were among the laggards.
BRS leader and former Telangana minister Vemula Prashanth Reddy claimed that Kavitha was taken to Delhi on a flight at 8.45 pm.
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.
After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.
Aarya Aakhri Vaar should have been slicker and more polished than the first, or at least ended with a louder bang, observes Deepa Gahlot.
Ranbaxy's troubled plants in India could see a turnaround as Sun Pharma has experience in doing so.
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.
In a major relaxation of foreign investment rules in the pharma sector, a special group set up under the finance ministry has suggested it could consider permitting up to 49 per cent FDI (foreign direct investment) in the automatic route for brownfield investments in case the company's control remained in Indian hands.
Encouraged by its 'record-setting' growth of 67 per cent in the domestic pharmaceutical market last year, pharmaceutical firm Mankind on Monday announced expansion plans into the South India formulations market.
The Enforcement Directorate on Friday arrested Bharat Rashtra Samiti leader K Kavitha after an hours-long raid at her premises in Hyderabad and brought her to Delhi for questioning in a money laundering case linked to the now-scrapped Delhi excise policy, agency sources said.
M&M was the biggest loser in the Sensex chart, falling 6.39 per cent, followed by Tech Mahindra, Nestle India, Bajaj Finance, Axis Bank, ITC, JSW Steel, HDFC Bank and RIL. On the other hand, Sun Pharma, Tata Motors, Bharti Airtel, L&T and Infosys were among the winners, rising up to 2.10 per cent.
rediffGURU Ulhas Joshi answers your mutual fund queries.
A Pharmaceutical company was on Sunday gutted in a fire in Samba district of Jammu and Kashmir.
India emerging as a big global destination for contract manufacturing, unlike R&D outsourcing.
