The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
Indian drug firms get a shot in the arm in the $12 bn Australian drug market as the Therapeutic Goods Administration (TGA), Australia agrees to accelerate the drug approval process in that country for Indian players who already have an approved plant and product from one of the stringent regulatory authorities like US, EU or Canada. From current sales of $340 mn, the Indian firms can see a significant upside in sales; felt Dinesh Dua, former chairman of the Pharmaceutical Exports Promotion Council of India (Pharmexcil), and the MD of Nectar Lifesciences. He highlighted that only 12 percent of the Australian drug market is generic, as against 80-90 per cent in the US or EU. Of this $1.5 bn generic drug market in India, Indian companies have a small share.
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).
Recently, Ranbaxy and Wockhardt too were hauled up.
The deal will provide Suzlon with much needed liquidity.
Last year, Ranbaxy had to pay a fine of $500 million to the US authorities after it pleaded guilty to fraudulent activities and misrepresenting data to seek fast approvals.
Favipiravir is the only oral anti-viral treatment approved in India for potential treatment of patients with mild to moderate Covid-19 disease.
The company sold over 21 crore (210 million) shares in Sun Pharma.
Regulator likely to probe possible violation of insider-trading norms.
Sun Pharmaceutical said Ranbaxy shareholders will get 0.8 Sun Pharma shares for each Ranbaxy share.
Sun gets RBI nod for transfer of Ranbaxy overseas investments.
India's economy will see the fastest dollar nominal growth in the world in 2015, Credit Suisse says.
The proposed merger would likely harm future competition
Netmed plans to procure from drug manufacturers and sell to pharmacies it has tie-ups with, and to spread its network to all tier-II and tier-III cities.
Ranbaxy's troubled plants in India could see a turnaround as Sun Pharma has experience in doing so.
The Supreme Court has asked the Andhra Pradesh High Court to take a decision within two days on a plea challenging merger of Sun Pharmaceutical with Ranbaxy.
Stock markets are expected to remain under pressure this week due to the overhang of US presidential polls and uncertainty over global growth due to resurging cases of coronavirus, according to analysts.
The investment has lost almost 40 percent of its value in six years.
They seek to profit from big-selling drugs going off-patent this year in the lucrative market.
This generic Doxorubicin HCl Liposome injection USP, 2 mg/ml is therapeutically equivalent to Doxil Liposome Injection, 2 mg/ml of Janssen Research and Development, LLC.
Daiichi won't remain a major shareholder in Sun Pharma.
India's 100 richest saw a 3 per cent rise in the wealth totaling $259 billion, says Forbes.
Many say trend could lead to concerns on manufacturing quality in Indian facilities.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
Sun Pharma promoter Shanghvi's brother-in-law Sudhir Valia to pick 26%
The report of the January 25 meeting was placed before the high court last week.
Acquisition to boost its generics business in developed markets.
Once a difficult market to crack, in recent years, China has relatively opened up its drug market, enacting reforms and speeding up approval time.
Companies say they follow global standards in India as well
Ranbaxy, its partners and Actavis have signed a non-exclusive agreement.
Drug major Sun Pharmaceutical Industries has acquired US-based Pharmalucence Inc for an undisclosed amount.
DUSA is a dermatology company focused on developing and marketing its Levulan photodynamic therapy platform.
These two are now among India's most valuable business houses, ahead of older and more diversified groups, such as the Bajaj, OP Jindal, Anil Ambani, UB, Godrej and Hinduja.
Companies such as Dr Reddy's Laboratories, Sun Pharmaceutical, Lupin and Ranbaxy striving to capitalise on opportunities created by pro-generic health care reforms in the US market are facing pricing pressure as the health care supply chain is undergoing consolidation.
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.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Sun Pharmaceutical Industries Ltd named Kamlesh H Shah company secretary. He replaces R K Baheti, who was also senior vice president (finance).
Sun Pharma expects synergy benefits by next fiscal.
Eight others, including Bajaj Auto Managing Director Rajiv Bajaj and Tractor & Farm Equipment Chairman Mallika Srinivasan, received awards across categories at an award ceremony attended by over 350 people in New Delhi on Monday.
Sun Pharmaceutical Industries said it has received approval from US health regulator to market generic Clarinex tablets and Tiazac capsules, used in treating nasal allergies and hypertension, respectively, in the American market.
