Hit by the new drug pricing policy and regulatory interventions, growth rate of the Rs 72,069-crore Indian pharmaceutical market has slowed down to 9.8 per cent in 2013 as compared to 16.6 per cent in 2012, says a report.
Disappointed with past experience, domestic majors even skip giving any memorandum.
The market capitalisation of BSE-listed companies soared to an all-time high of Rs 406.52 lakh crore on Monday thanks to a rally in equities where the BSE Sensex climbed over 1 per cent. The 30-share BSE Sensex rallied 941.12 points or 1.28 per cent to finish at 74,671.28. During the day, it zoomed 990.99 points or 1.34 per cent to 74,721.15.
The United States Food and Drug Administration has issued a warning letter to it for manufacturing practice violations at its Cranbury facility in New Jersey.
AHEL had earlier said it was looking for a strategic partner with international experience for its pharma business.
Shares of Ranbaxy Lab and Sun Pharma on Tuesday gained as much as 4 per cent after the drug-makers got CCI's approval for their long-pending $4-billion merger.
We asked readers to mail their queries about stocks they want to buy, sell or hold. Here's the response to their queries.
Foreign direct investment (FDI) equity inflows in India declined 24 per cent to $20.48 billion in April-September 2023, dragged by lower inflows in computer hardware and software, telecom, auto and pharma, according to government data. FDI inflows stood at $26.91 billion during the first six months of the last fiscal. Inflows during January-March 2023 also contracted 40.55 per cent to $9.28 billion.
Currently, the spend on R&D as a percentage of GDP is just 0.9%
Three employees of a Noida-based pharmaceutical firm, whose cough syrup is alleged to have led to the death of 18 children in Uzbekistan last year, were arrested on charges of manufacturing and sale of adulterated drugs, officials said.
One of the subsidiaries of Sun Pharma has executed a settlement agreement with Novartis, stipulating a dismissal of the lawsuits filed in the United States against the company regarding submission of an Abbreviated New Drug Application for a generic version of Gleevec, the Indian drug major said in a statement.
The FIPB, headed by Department of Economic Affairs Secretary Arvind Mayaram, discussed 30 foreign direct investment proposals, including 10 from pharma sector.
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Among Sensex shares, HCLTech, Asian Paints, Maruti, JSW Steel, TCS, SBI, ITC and Bharti Airtel were the major losers. On the other hand, Bajaj Finserv, Mahindra & Mahindra, Titan, L&T and Wipro were the major gainers.
Maximum cases of advertisement norms violations were reported from the healthcare sector during 2023-24, followed by illegal offshore betting and personal care categories, according to the Advertising Standards Council of India's (Asci's) Annual Complaints Report released on Wednesday. The healthcare sector accounted for a maximum 19 per cent or 1,569 of 8,229 advertisements scrutinised by Asci during the year. Illegal offshore betting accounted for 17 per cent, while the share of personal care advertisements was 13 per cent.
Surya Narayan Patra of SSKI & Sharekhan discusses his picks from the pharma space
Among the Sensex firms, State Bank of India rose the most by 3.78 per cent after the bank announced the acquisition of SBI CAPS subsidiary for Rs 708.07 crore. Nestle India gained 1.68 per cent after it reported around 9 per cent growth in sales. JSW Steel, Bajaj Finance, Axis Bank and Asian Paints were among the gainers.
Dr Reddy's, Glenmark, Wockhardt have lined up alternatives for Zytiga
Aurobindo Pharma, Cadila Healthcare and Serum Institute are readying their vaccine candidates.
The challenge of merging Ranbaxy into the company has not been factored in.
Ajanta Pharma Ltd reissued 250 equity shares, earlier forfeited by the company.
'Corporations that were recruiting 15 or 20 [students] have reduced the number to two or three.'
M&M was the biggest gainer in the Sensex chart, rising 6.51 per cent, followed by NTPC, PowerGrid, SBI, HDFC Bank, Asian Paints and Wipro. In contrast, Axis Bank, ITC, HUL, Nestle India and Sun Pharma were among the laggards.
IT sector's trading multiples hit post-Lehman lows, providing good entry points.
Shares of power, IT, tech, utilities and capital goods firmed up
Benchmark equity indices climbed nearly 1 per cent on Wednesday on buying in HDFC Bank and Reliance Industries. Investors are eyeing the two important events lined up ahead -- the interim budget and the US Fed interest rate decision -- to derive further cues from. Recovering all the early lost ground, the 30-share BSE Sensex jumped 612.21 points or 0.86 per cent to settle at 71,752.11.
Under the agreement, MedImmune has granted Sun Pharma a licence to certain patents, permitting Sun Pharma to continue marketing its generic version of Ethyol in the US.
The merger has fortified Sun Pharma's position.
The move has come days after the state government announced to form a special investigation team to probe into the death of Disha Salian, the former manager of late actor Sushant Singh Rajput.
Four proposals by foreign firms deferred; half a dozen others waiting in the wings.
Nearly 150 senior management staff will be asked to leave.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Benchmark indices Sensex and Nifty fell for the third day running on Thursday, dragged by continuous selling in HDFC Bank and profit-taking in consumer durables and utility shares. The 30-share BSE Sensex fell by 313.90 points or 0.44 per cent to settle at 71,186.86. During the day, it tanked 835.26 points or 1.16 per cent to 70,665.50.
Among the Sensex firms, State Bank of India, ITC, Nestle, Asian Paints, Tech Mahindra, Mahindra & Mahindra, Tata Consultancy Services and Hindustan Unilever were the major laggards. In contrast, HCL Technologies, Power Grid, Sun Pharma, NTPC, Bajaj Finance and Titan were the gainers.
Most pharma stocks are trading at the higher end of their valuations and thus investors need to practice utmost caution.
The government is optimistic that the Indian pharma industry with a strength of 25,000 companies will be a leading player in the sector in the years to come.
Among the Sensex firms, IndusInd Bank was the biggest loser and fell 6.13 per cent, followed by SBI (3.99 pc), Hindustan Unilever (3.82 pc), Axis Bank (3.41 pc) and HDFC Bank (3.23 pc). In contrast, Sun Pharma, Bharti Airtel, ICICI Bank and PowerGrid defied the trend and closed with gains of up to 3.67 per cent. TCS and Bajaj Finserve were the other gainers.
