Indian drug companies, which have introduced copies of biotechnology drugs in the country, are bullish over the marketing prospects of 'biogenerics' after patents expire in developed markets. Experts say Indian companies may not repeat the success they achieved in selling generic medicines in biogenerics. The cost of clinical trials and the absence of substitutability will ensure that only those with deep pockets to launch such products globally will succeed, they feel.
Sensex dull at close, Infosys rules, ITC drags.
The IPA complaint turns significant in the backdrop of increasing talk about foreign companies buying into Dr Reddy's, Piramal Healthcare and Aurobindo.
Companies such as Dr Reddy's Laboratories, Sun Pharmaceutical, Lupin and Ranbaxy striving to capitalise on opportunities created by pro-generic health care reforms in the US market are facing pricing pressure as the health care supply chain is undergoing consolidation.
Not too long ago, authorised generics were used by the big US-based pharmaceutical companies to thwart competition from makers of generic drugs
Indian pharmaceutical companies may have spread their wings far and wide, but they have been hitting the wall in China.
Whistle-blower Dinesh Thakur will speak on Made-in-India drugs at an event in Washington.
At 1130 hours, the Sensex was up 99 points at 22,260 and the 50-unit Nifty shed 26 points at 6,669 levels.
Sun Pharma and Ranbaxy Labs hogged the limelight after Sun Pharma announced the acquisition of Ranbaxy Labs.
Even smaller companies like Torrent Pharma and Alembic file five to 10 ANDAs every year.
Despite the ongoing trouble India's largest drug maker, Ranbaxy, is facing in the United States, domestic pharmaceutical companies are betting high on the world's largest drug market with added vigour.
Ranbaxy, Cipla and other Indian drug makers are helping US retailer Wal-Mart sell drugs at low cost and boost revenue.
The FDA has been tightening its monitoring of Indian pharma majors over compliance issues. Surprise plant inspections and import alerts have been frequent outcomes
From zero revenues eight years ago, Lupin has posted Rs 621 crore (Rs 6.21 billion) in sales last year-that too in a country regarded as one of the toughest markets in the world for generics.
Over 30 domestic pharmaceutical companies, including Ranbaxy, Cipla, Nicholas Piramal, Zydus Cadila and Torrent, face a possible ban on the sale of the generic version of Merck's pain management drug in the Indian market.
With financial results for the quarter round the corner, small- and medium-sized, export-oriented pharmaceutical companies are expecting a 5-10 per cent decline in their bottom line for the April-June period, owing to the rupee appreciation.
Sun Pharma's Dilip Shanghvi is India's richest person.
Former US President Bill Clinton's foundation has reached an agreement with eight pharmaceutical companies worldwide, including India's Cipla and Ranbaxy, to drastically lower the prices of AIDS tests and drugs.
This helps consumers check the authenticity of drugs simply by sending SMSes.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
Dilip Shanghvi founded Sun Pharma in 1983.
On October 2, a legislature committee wrote letters to the 14 companies, initiating an investigation and seeking details about recent price increases in several generic products available in the American market.
The Indian pharmaceutical companies are involved in patent litigations of a mere 40 drugs, out of the 135 known patent litigation drugs in the US. This is despite the claims by major Indian players such as Ranbaxy and Dr Reddy's at having secured over 20 first to file status abbreviated new drug applications with the US Food and Drug Administration.
Data also show that several other leading domestic pharma companies have recalled their products from the US
Two years after India entered the product patents regime, the year 2007 saw Indian drug firms striving to shed the copycat image and become innovators with emphasis on research activities even as they resisted moves to include more medicines under price control.
The big companies too are responsible for the sub-standard drugs in the market.
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.
SSTL is the second operator after Vodafone that has approached FIPB for raising FDI limit.
The Tata group has earmarked about Rs 1,000 crore (Rs 10 billion) for investment over the next four years in Advinus Therapeutics, a joint venture floated by it and ex-Ranbaxy research head Rashmi Barbhaiya.
Heavy short-covering, on account of July derivatives expiry, towards the end of the day saw the index rebound into the postive zone and shoot up over 100 points before settling with a gain of 77 points at 15,776.
Ties between India and the United States have been strained in recent years because of trade policies and patent disputes.
Post-elections, the pace is expected to be greater for inbound deals, which have been largely pushed back for many months now for want of better clarity on the policy stance of new government, experts said.
Sun Pharma stock has appreciated at 35% a year for 20 years
India on Monday raised serious concerns over the USFDA's audit inspections of Indian pharma companies and 'disproportionate penalties' in some instances and said it would submit a discussion document on the issues to the US.
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