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.
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.
Investors must carefully watch the developments on the MNC pipeline.
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.
Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under its trade pact with the EFTA bloc on these goods over a period of time. India and the four-European nation bloc EFTA signed a trade and economic partnership agreement (TEPA) on Sunday to boost trade and investments between the two regions. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under its trade pact with the EFTA bloc on these goods over a period of time. India and the four-European nation bloc EFTA signed a trade and economic partnership agreement (TEPA) on Sunday to boost trade and investments between the two regions. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
Sun Pharmaceutical's acquisition of Ranbaxy has received final approvals.
Rediff reader Rashmi Pillai, a pharma professional from Mumbai suggests how to stay positive and make the most of the lockdown.
The government has formed the Export Promotion Council for Pharmaceuticals (Pharmaexcil) to boost pharma exports.
Firms like Abbot, Piramal and Bayer India have made their presence felt at KJ Somaiya Institute of Management Studies, Mumbai. Increasingly, pharma companies are finding it easier to recruit people from B-schools for jobs in marketing, human resources and finance.
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.
Dilip S Shanghvi reminisces about Anji Reddy.
'The BJP was supporting him from behind in order to bring down the Congress government.'
The Sensex ended at at 27,676, lower by 210 points and the Nifty broke the psychological level of 8,400 to end at 83877 down 70 points.
Sun Pharma profit down 30% over compliance costs, lower sales.
Russia's central bank early on Tuesday raised interest rates to 17 per cent to counter the 50 per cent rouble fall in six months.
Corporate affairs ministry mulls changes in Competition Act, may provide different threshold for various sectors.
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The report comes at a time when the government is trying to clear pending FDI proposals, which include various planned investments in this sector.
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.
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.
Deals indicate growing interest of private equity firms in India's pharma and healthcare segments.
Despite news of the private equity in the domestic healthcare and pharma industry touching almost Rs 40 crore (Rs 40 million) in the first nine months of the year, PE firms are not exactly bullish about investing in the pharma industry alone. In fact, a closer look at the investments reveals that a larger part of the money is being flown into healthcare delivery systems like hospital chains and not in pharma companies.
Sun Pharma's market capitalisation stood at Rs 100,050 crore on December 5, with its share price closing at Rs 417 a piece - lowest since March 2013.
One of the suitors says that Ranbaxy's Indian portfolio alone is worth $2 billion, or approximately Rs 11,900 crore.
Top 5 losers include Lupin, Cipla, Sun Pharma, Dr Reddy's Lab and GAIL down 1.6%-11%.
Two individuals filed the petition in the high court of Andhra Pradesh
The proposed acquisition is expected to close by the end of 2014, subject to approvals from Indian Courts and the anti-trust body in India and the US
A group of ministers (GoM) headed by Agriculture Minister Sharad Pawar is scheduled to meet on April 30 to finalise its recommendations for a policy that would attempt to balance the interests of the common man and the industry. The GoM is also expected to give recommendations on the regulation of trade margins on all medicines, public procurement of drugs, price negotiation of patented drugs and medical devices, in addition to the legislation of new Acts.
Drug maker Sun Pharmaceutical Industries on Monday said it has commercially launched generic Ethyol, used in the treatment of cancer. Ethyol is the generic version of Medimmune's Ethyol amifostine injection, used for treating cancer, Sun Pharma informed the Bombay Stock Exchange, adding that the drug has an annual sales of $80 million in the US.
The government on Monday said that multinational companies (MNCs) are campaigning against domestic pharmaceuticals industry as their interests were getting impacted due to increasing global presence of Indian firms in the generic segment.
Sun Pharma stated the company wanted shareholders' approval to "issue, offer and allot equity shares or non-convertible securities, other than warrants, up to an amount of Rs 12,000 crore ($2 billion), to qualified institutional buyers pursuant to a QIP."
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.
Indian Pharma majors are looking at different strategies to boost their global business.
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.
Japan's Daiichi Sankyo makes Ranbaxy Laboratories an offer it can't refuse -- $4.6 billion for a 50.1% stake in India's largest drugmaker.
The number of small units has come down drastically, as large companies have expanded their manufacturing capacity.
