These include former drugs controller M Venkateshwarlu, Ranbaxy CMD Malvinder Mohan Singh, Ranjit Shahani, India chief of Swiss pharma major Novartis AG, Ramaprasad Reddy, chairman Aurobindo Pharma and Rajesh Jain, joint managing director, Panacea Biotec.
The Supreme Court on Monday posed some tough questions to a lawyer, asking him to substantiate his "unfounded allegations" in a PIL that Indian pharma major Ranbaxy Laboratories Ltd was allegedly manufacturing and selling adulterated medicines.
India's antitrust regulator has approved Sun-Ranbaxy deal, subject to the companies divesting seven products.
Ranbaxy is understood to have emerged as the sole Indian pharma entity to have moved into the next round of bidding for the generic business of Merck, even as compatriot Cipla claimed to be "very much in the race."
The government on Wednesday announced the approval of Japan-based Daiichi Sankyo's proposed acquisition of shares in domestic pharma major Ranbaxy, along with 23 other proposals for a total FDI investment of Rs 753.14 crore
The court also restrained RHC Holdings from operating its bank accounts except for payment of salaries and statutory dues till March 23, the next date of hearing.
While Daiichi Sankyo acquired a majority share in the country's biggest drug-maker Ranbaxy, Eisai and Astellas have chosen to set up wholly-owned subsidiaries to promote their patented medicines in the country. In a communication to the Nikkei Stock Exchange on November 18, Astellas said its subsidiary Astellas Pharma India in Mumbai was set up as a marketing arm to sell its immunology and urology medicines.
Firm reaches out-of-court agreement on 5 of 19 patent challenges in the US.
Japanese drug maker Daichii Sankyo, which has signed a share purchase agreement with Ranbaxy, on Thursday said its open offer for an additional 20 per cent stake in the domestic pharma major would undergo a change of schedule, pursuant to a delay in Sebi's approval.
Sun Pharma and Dr Reddy's top list in terms of those who face most class-action litigation
The company had a PAT of $139 million (Rs 693.1 crore) in the corresponding June quarter last year.
Indian Pharma majors are looking at different strategies to boost their global business.
Competition watchdog says 'high market concentration' in some segments a worry.
The comments need to be submitted to the Competition Commission of India within 15 days, along with supporting documents on how the merger can adversely impact the concerned person or entity, the regulator said, while adding that it would not consider 'unsubstantiated objections' to the deal.
FDI in drugs and pharmaceuticals was $487 million during April-August 2012, according to the latest data of the Department of Industrial Policy and Promotion.
Domestic pharma giant Ranbaxy Laboratories Limited has topped the list of patent filers in the area of drug applications from the Third World countries last year with 64 new formulations.\n\n\n\n
Last year, Ranbaxy had paid around $4,20,000 to the US state of Idaho as part of a $500-million settlement that the drug firm had signed with US authorities.
Drug major Ranbaxy Laboratories could suffer a potential revenue loss to the tune of Rs 300 crore (Rs 3 billion) due to delay in receiving approval from the US Food and Drug Administration (FDA) for generic version of GSK's anti-migraine medicine Imitrex, according to analysts.
The case was earlier heard by a different vacation bench which had on June 10 asked Sharma to substantiate his 'unfounded allegations' that the Indian pharma major was allegedly manufacturing and selling adulterated medicines.
Multinational drug manufacturers such as Pfizer and DSM are increasingly getting into contract manufacturing alliances with emerging bulk drug makers in the country, bypassing established players such as Ranbaxy and Dr Reddy's.
The price has been cut 39 per cent to Rs 555.85 from Rs 908 per share originally after its request to redeem the bonds ahead of maturity was rejected by the Reserve Bank of India.
US-based Abbott Laboratories has sued Sun Pharmaceutical Industries and Ranbaxy Laboratories in courts there for challenging the patents of its cholesterol-lowering drugs, Niaspan and TriCor, respectively, in separate infringement suits.
The numbers are the highest ever in the history of domestic drug discovery initiatives triggered by companies such as Dr Reddy's and Ranbaxy over a decade ago.
The upside for Ranbaxy Laboratories is likely to continue even as it loses its 180 days of marketing exclusivity for the Lipitor generic in the American market.
Pharma major Ranbaxy Laboratories has set aside Rs 257.4 crore (Rs 2.57 billion) towards the financial impact of a US ban on import of products made at its plant at Toansa.
In 2013, Daiichi had launched the arbitration proceedings in Singapore.
In comparison, Indian companies received only 23 out of 139 final approvals (16.54 per cent) in the corresponding period in 2006.
In a surprise announcement in April, Sun and Ranbaxy -- at that time owned by Japan's Daiichi -- declared an all-stock deal to create India's largest and world's fifth-largest drugmaker in an over $4 billion deal.
Currency values were the bigger villain over the 7 years
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.
In a major boost to Ranbaxy Laboratories' exports to developed countries, the United States has approved marketing of flecainide acetate tablets in the country.
Over 550,000 small drug retailers in the country are transforming into producers and marketers of pharmaceutical products, readying to compete with companies such as Ranbaxy, Cipla, Sun Pharma and Lupin whose produce they sell.
K Raghavendra Rao, one of the founding promoters and managing director of Orchid Chemicals and Pharmaceuticals, said he may initiate talks to buy back its 14.7 per cent stake that is now with Rexcel, a unit of pharma major Ranbaxy.
Fortune seekers in the Indian pharmaceutical space will find this irresistible. In less than 24 months, 26 blockbuster medicines, worth over $69 billion (about Rs 3,10,000 crore) -- or thrice the size of the domestic industry -- are going off-patent in the world's largest drug market, the United States.
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
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