Pharma body wants all excisable goods used for R&D purposes should be exempted from central excise duty.
The index is currently trading at 149 per cent of its historical P/B valuation, surpassing its previous peak of 125 per cent made in 2020-21.
Russia on Tuesday invited Indian pharmaceutical companies to set up joint ventures in the country. Russian Deputy Prime Minister Sergei Sobyanin during his meeting with Commerce and Industry Minister Anand Sharma said Russian pharma firms were keen to increase their engagements with Indian companies including setting up joint ventures.
'The BJP was supporting him from behind in order to bring down the Congress government.'
As part of its global expansion plans, Dabur Pharma has acquired the sales and distribution network of Thailand-based Bioscience for an undisclosed sum.
Last week, the court had vacated the status quo order it had issued earlier on the merger process between Sun Pharma and Ranbaxy.
Investors turned cautious after India's trade deficit widened to a more than three-and-a-half-year high of $16.6 billion due to costlier crude oil imports
For a company that started in 1983 with just five people and five products, it's no mean achievement that Sun Pharma today commands the largest market capitalisation of Rs 21,271 crore (Rs 212.71 billion) in the pharma universe.
Opportunities will also stem from the clear support for generics.
Dabur Pharma launched its new nano technology-based chemotherapy agent Nanoxel in the country on Thursday.
Currently, 100 per cent FDI is permitted in brownfield pharma firms through clearance from the Foreign Investment Promotion Board.
Top executives of American pharma companies favour "dialogue" with India and "not confrontation" to address their concerns on key issues like the protection of intellectual property (IP) and clinical trials.
We don't expect any big changes in on excise duty and custom duty rates, except in life saving drugs.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
Jefferies, IIFL, and JM Financial - none of which were in the top five last year - have now claimed the top spots in the league tables for equity capital markets (ECM) during the first nine months of calendar year 2023 (CY23), a period characterised by small- and mid-sized transactions. This shift marks a significant change, with these firms outperforming the bulge-bracket investment banks. According to data provided by Refinitiv, Jefferies leads the domestic ECM market, having handled share sales worth $2.3 billion, representing 12.4 per cent of the total volume of $18.4 billion for ECM transactions.
Indian pharma exports are likely to register 17-20 per cent growth this fiscal, touching the USD 12 billion mark, a top official of the Pharmaceuticals Export Promotion Council (Pharmexcil) said.
Orchid Chemicals and Pharmaceuticals Ltd has entered into a marketing alliance with Australia-based Mayne Pharma, for distribution of select life-saving injectable antibiotic formulations.
Five firms, including ACC Ltd, HDFC Asset Management Company and FSN E-Commerce Ventures that runs Nykaa, will be dropped from Nifty Next 50 index from September 29. NSE Indices Ltd, an arm of the National Stock Exchange, on Thursday said that Indus Towers and Page Industries will also be dropped from the index. Punjab National Bank, Trent, Sriram Finance, TVS Motor Company, and Zydus Lifesciences will be included in the Nifty Next 50 index, NSE Indices said in a statement.
Sun Pharmaceutical, which is growing its dermatology and ophthalmic specialty business in the US will spend $460 million on R&D.
The pharma sector seeks removal of Excise Duty on Bulk drugs & Formulation of Anti-AIDS, Anti-Cancer, Anti-TB and other life-saving drugs
Trade deficit during the month narrowed to USD 14.54 billion from USD 15.3 billion in January 2020. It was USD 15.44 billion in December 2020.
Even as the Supreme Court had recently dismissed the industry's plea against prices fixed by the regulator and its timely implementation, the National Pharmaceutical Pricing Authority has asked companies to pay the overcharged dues with 15 per cent interest.
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.
The company will transfer its 50% stake in its JV firm, NTPC-Orchid Pharmaceuticals to NCPC for a total cash consideration of USD 13.9 mn.
Sun Pharma's managing director Dilip Shanghvi, says we continue to look for opportunities to expand our business in all the key geographies and markets we are focused on.
The weakness in the stock was because of inspections by the American drug regulator at its Halol plant in Gujarat which resulted in eight observations, as well as a downward revision of speciality drug payoffs.
The 50-share NSE Nifty stayed in the positive zone and retook the 9,900-mark to hit a high of 9,905.05 as buying paced up towards the fag end. It settled higher by 72.45 points, or 0.74 per cent, at 9,899.60.
FIIs are looking at the long-term story and initiatives of Indian pharma companies to transform themselves into global entities.
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.
Ahluwalia said India is also interested in stepping up cooperation with China on railways development.
Among the Sensex firms, Tata Consultancy Services, Larsen & Toubro, Infosys, UltraTech Cement, ICICI Bank, Nestle, ITC and Sun Pharma were the major gainers. Power Grid, NTPC, Tata Motors, Tata Steel, Mahindra & Mahindra and Reliance Industries were among the laggards.
Rediff reader Rashmi Pillai, a pharma professional from Mumbai suggests how to stay positive and make the most of the lockdown.
Shares in Sun Pharmaceutical Industries fell by more than 5 per cent after the company settled a patent suit with Pfizer Inc related to its acid-reflux drug for $550 million.
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 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.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances