People close to Shanghvi reveal he is known to make surprising moves both inside and outside the pharma industry.
The recent recalls come amid increased FDA scrutiny of medicines produced in India.
US District Judge Beryl Howell in Minneapolis denied Ranbaxy's request, the court filing showed.
Experts said the 20 per cent drop in the market poses a challenge for companies that have set the ball rolling on their IPO plans as valuations will now have to realign. This could entail more dilution or lowering of the issue size.
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."
While the UN report said that FDI inflows rose 6 per cent in 2018 to $ 42 billion, the government's own data for the entire FY19 period has shown that inbound equity investments declined for the first time in six years in FY19.
From rising prescriptions to the pharma sales force back on the field with full vigour and companies finally finding their feet with the digital marketing strategies - Indian drug makers have shown that medicine sales is certainly a sunshine sector.
Nearly 150 senior management staff will be asked to leave.
'When you have surplus cash flow and markets correct sharply, what options do you have other than buying good stocks?'
Dr Reddy's, Glenmark, Wockhardt have lined up alternatives for Zytiga
Ranbaxy drugs sold in the United States will be gradually rebranded as Sun Pharma treatments
IT major TCS worst hit; it's m-cap slumped by Rs 11,811.13 cr to Rs 4,92,042.26 cr
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
India seeks greater market access for its products including textiles, pharmaceuticals and bovine meat.
A key lesson for the pharmaceutical sector in this case is to not downplay the significant impact that regulatory non-compliance can have on operations.
In the ranking of top-10 firms, TCS stood at number one position
The FDA has been tightening its monitoring of Indian pharma majors over compliance issues. Surprise plant inspections and import alerts have been frequent outcomes
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The recalled drug bottles were distributed by Caraco Pharmaceutical Laboratories, Ltd in the US while manufactured in India by Sun Pharmaceutical Industries Ltd.
The Halol facility is important for the company as it accounts for 10 per cent of Sun Pharma's sales.
In March, the FDA had issued an import alert, banning formulations and active pharmaceutical ingredients from the factory.
It had posted net profit of Rs 125.75 crore (Rs 1.25 billion) during the January-March quarter of the previous fiscal, 2012-13.
The rupee recovered from more-than three months low of 63.15 in early trade on dollar selling by banks.
Two individuals filed the petition in the high court of Andhra Pradesh
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The recalled drugs were manufactured and distributed in the US by Ohm Laboratories.
At the start of 2016, HDFC Bank, Infosys, ICICI Bank, L&T and Axis Bank were the top five picks of fund managers
Rosier year-end seen for Indian pharma thanks to faster US approvals.
Company aims to build five Rs 100 cr-plus brands and launch products from South African arm in domestic market
The group is looking into a new role for Ranbaxy CEO and MD Arun Sawhney.
Credit Suisse analysts cut their rating on Sun Pharma stock to 'neutral' from 'outperform
Sun Pharma and Dr Reddy's top list in terms of those who face most class-action litigation
The m-cap of ONGC dipped Rs 13,303.78 crore, while that of Infosys tanked Rs 12,162.32 crore
Who is to take their place? Will a new generation of entrepreneurs start up with better business sense, or at least better luck? But the so-called unicorns are mostly copy-cat entrepreneurs whose cash flow is funded by overseas (including Chinese) money, notes T N Ninan.
Sun Pharma open to large acquisitions post Ranbaxy.
The merger has fortified Sun Pharma's position.
Sun Pharma profit down 30% over compliance costs, lower sales.
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.
The Hinduja Group, Mukesh Ambani, Murugappa, and the Adani groups were the other gainers in the Modi regime, while Naveen Jindal and Sun Pharma groups saw the most erosion in their m-cap in the last five years, reports Krishna Kant.
Is yet to decide about the partnership or acquisition route
