The US health regulator has pulled up drug major Sun Pharma for manufacturing lapses, including failure to follow appropriate written procedures designed to prevent microbiological contamination of drug products, at its Gujarat-based plant. In a warning letter, the US Food and Drug Administration (USFDA) pointed out various lapses at the Halol plant which produces finished pharmaceutical products. "This warning letter summarises significant violations of Current Good Manufacturing Practice (CGMP) regulations for finished pharmaceuticals... Because your methods, facilities, or controls for manufacturing, processing, packing, or holding do not conform to CGMP, your drug products are adulterated," the USFDA stated.
Is yet to decide about the partnership or acquisition route
In May, Taro had unilaterally terminated $-454 million merger agreement signed between Taro and Sun Pharma in 2007, citing undervaluations of its shares. Thereafter, both companies had filed suits against each other in Israel and New York.
From the Sensex pack, Reliance Industries, Bajaj Finserv, HDFC Bank, Adani Ports, Maruti Suzuki India, Axis Bank, Hindustan Unilever, Sun Pharmaceuticals and Asian Paints were among the laggards. Reliance Industries fell the most by 2.38 per cent to close at Rs 1,171.10 apiece.
Domestic benchmark equity indices may see a positive trading sentiment on Friday thanks to a spectacular rally in world markets after the US President Donald Trump announced to put tariff hikes on hold for 90 days, excluding China from the reprieve. Indian stock markets were closed on Thursday for Shri Mahavir Jayanti. Trump has declared a three-month pause on reciprocal tariffs on non-retaliating countries marking a rather unexpected U-turn after record high levies he imposed led to global stock market meltdown.
The products would be marketed and promoted jointly by Nippon Chemiphar and Nihon Pharmaceutical and sold in Japan under the Ranbaxy/Nihon Pharmaceutical Industry Ltd label.
Acquisition to boost its generics business in developed markets.
"Through this partnership, the reach of Sitagliptin and Sitagliptin plus Metformin will be enhanced amongst doctors and patients in India, helping them efficaciously manage the disease," Sun Pharma Chief Executive Officer Kalyanasundaram said in a joint statement issued by the two firms.
Ranbaxy Laboratories Ltd on Monday said Nihon Pharmaceuticals Industry Ltd, a JV between the company and Nippon Chemiphar Ltd, has launched its first co-developed product Vogseal 0.2mg and 0.3mg tablets in Japan.\n\n
Sun Pharmaceutical Industries Ltd has posted a net profit of Rs 558.60 million for the quarter ended December 31, 2002 as compared to a net profit of Rs 464.10 million in the corresponding period last fiscal.
Sun Pharma open to large acquisitions post Ranbaxy.
Sun Pharmaceutical Industries Ltd has posted a 47.24 per cent rise in consolidated net profits at Rs 247.5 crore (Rs 2.47 billion) in the financial year ended March 31, 2003, compared to Rs 168.09 crore (Rs 1.68 billion).
Sun Pharmaceutical Industries Ltd Chairman Dilip Shanghvi said he expects Ranbaxy Laboratories Ltd to become profitable in the short term.
The deal will provide Suzlon with much needed liquidity.
Sun Pharmaceuticals Industries Ltd has posted a 45.01 per cent rise in its consolidated net profit at Rs 358.9 crore (Rs 3.59 billion) for the financial year 2003-04 as against Rs 247.5 crore (Rs 2.47 billion) in 2002-03.
Both companies can now complete the deal.
Some Indian generic drugmakers are, however, uncertain about the pace of approvals in the near future.
The recalled drug bottles were distributed by Caraco Pharmaceutical Laboratories, Ltd in the US while manufactured in India by Sun Pharmaceutical Industries Ltd.
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
The recent recalls come amid increased FDA scrutiny of medicines produced in India.
Sun Pharmaceutical's acquisition of Ranbaxy has received final approvals.
Ranbaxy drugs sold in the United States will be gradually rebranded as Sun Pharma treatments
US District Judge Beryl Howell in Minneapolis denied Ranbaxy's request, the court filing showed.
Equity benchmark indices Sensex and Nifty settled higher on Thursday, powered by a rally in banking and power stocks amid a largely firm trend in global markets. The stock markets mostly traded range-bound in the absence of any major trigger and persistent foreign capital outflows, traders said. The 30-share BSE Sensex rose 144.31 points, or 0.18 per cent, to settle at 81,611.41.
Three different invitations were sent out for the wedding and the receptions with top-run guests being sent a large red box that contained an intricate chest incorporating a mini silver temple featuring gold idols of various Hindu deities, including Lord Ganesh, Radha-Krishna, and Goddess Durga.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
DUSA is a dermatology company focused on developing and marketing its Levulan photodynamic therapy platform.
With an expected earnings growth of 15 per cent, benchmark index Nifty 50 may hit 24,500 level by December 2024 and move further to surpass the level of 26,500 by December 2025, Emkay Investment Managers said on Tuesday. The 50-share Nifty settled at 22,888.15 on Tuesday. In the previous day, it hit a new lifetime peak of 23,110.80.
India's economy will see the fastest dollar nominal growth in the world in 2015, Credit Suisse says.
Billionaire Gautam Adani's group has created a new company for its foray into healthcare services through the acquisition of large hospitals, diagnostic chains, and offline and digital pharmacies. Adani Enterprises Ltd - the group's business incubator firm - in a regulatory filing said a wholly-owned subsidiary, Adani Health Ventures Ltd (AHVL) was incorporated on May 17, 2022. AVHL will "carry on the business of healthcare-related activities including, inter alia, setting up, running, administrating medical and diagnostic facilities, health aids, health tech-based facilities, research centers and to do all other allied and incidental activities in this regard," it said.
Daiichi won't remain a major shareholder in Sun Pharma.
Two individuals filed the petition in the high court of Andhra Pradesh
Under terms of the agreed deal, Ranbaxy shareholders will get 0.8 of a Sun Pharmaceutical share for each Ranbaxy share they own.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
Ranbaxy Laboratories Ltd, India's top drugmaker by sales, said it expected to get US approvals for a paediatric dosage of its generic version of Augmentin, GlaxoSmithKline's blockbuster antibiotic, within a month.\n\n\n\n
Data late on Wednesday showed consumer price inflation eased more than-expected to a 25-month low of 8.10 per cent in February, while industrial output unexpectedly expanded, albeit only by 0.1 per cent.
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