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.
Sun Pharmaceutical's acquisition of Ranbaxy has received final approvals.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
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 government has formed the Export Promotion Council for Pharmaceuticals (Pharmaexcil) to boost pharma exports.
BRS leader and former Telangana minister Vemula Prashanth Reddy claimed that Kavitha was taken to Delhi on a flight at 8.45 pm.
Dilip S Shanghvi reminisces about Anji Reddy.
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.
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.
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.
Aarya Aakhri Vaar should have been slicker and more polished than the first, or at least ended with a louder bang, observes Deepa Gahlot.
After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.
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.
Top 5 losers include Lupin, Cipla, Sun Pharma, Dr Reddy's Lab and GAIL down 1.6%-11%.
ITC was the biggest loser from the Sensex pack, sliding 2.04 per cent, followed by Power Grid, Reliance Industries, Larsen & Toubro, Nestle, Kotak Mahindra Bank, Bajaj Finance and JSW Steel. On the other hand, Titan, State Bank of India, Bajaj Finserv, Axis Bank, Tata Steel, Sun Pharma, Tech Mahindra and Bharti Airtel were the gainers.
One of the suitors says that Ranbaxy's Indian portfolio alone is worth $2 billion, or approximately Rs 11,900 crore.
The Enforcement Directorate on Friday arrested Bharat Rashtra Samiti leader K Kavitha after an hours-long raid at her premises in Hyderabad and brought her to Delhi for questioning in a money laundering case linked to the now-scrapped Delhi excise policy, agency sources said.
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
Two individuals filed the petition in the high court of Andhra Pradesh
Sun Pharma emerged as the biggest gainer from the Sensex pack, climbing 2.09 per cent, followed by ITC, Titan, Bajaj Finance, Nestle, Infosys, L&T, JSW Steel, Reliance Industries and Kotak Mahindra Bank. UltraTech Cement, Maruti, HDFC Bank, Wipro, State Bank of India and NTPC were among the laggards.
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.
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."
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.
rediffGURU Ulhas Joshi answers your mutual fund queries.
Indian Pharma majors are looking at different strategies to boost their global business.
The Indian entrepreneurship success story will soon see one more company debuting on the public markets. Ola Electric, the electric vehicle (EV) company, has become the first such firm that has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for its initial public offering (IPO). This is a fresh issue of equity shares of up to Rs 5,500 crore and an offer for sale (OFS) of more than 95 million equity shares at a face value of Rs 10.
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.
M&M was the biggest loser in the Sensex chart, falling 6.39 per cent, followed by Tech Mahindra, Nestle India, Bajaj Finance, Axis Bank, ITC, JSW Steel, HDFC Bank and RIL. On the other hand, Sun Pharma, Tata Motors, Bharti Airtel, L&T and Infosys were among the winners, rising up to 2.10 per cent.
Both the units were under the scanner of FDA since 2011.
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