Companies asked to give data for three batches instead of one; move may lead to significant rise in development cost of generics
Kolkata-based business tycoon Sanjiv Goenka's RP-SG Group claimed the Lucknow franchise for a whopping Rs 7090 crore, while international equity investment firm CVC Capital won the bid for Ahmedabad with a Rs 5600 crore offer.
India's third-largest pharmaceutical company by revenue, Cipla, is up for grabs in a three-way fight between Torrent Pharmaceuticals, Dr Reddy's Laboratories (DRL) and private equity (PE) giant Blackstone. Analysts say it is more likely for a strategic investor like Torrent or DRL to acquire Cipla than a PE firm, which may not derive healthy returns at Cipla's current market price (CMP) after the recent gains.
Gujarat has around 3,000 licensees for allopathic drug manufacturing, apart from around seven homeopathic licensees, 500 ayuvedic and 600-700 cosmetics licensees
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.
Torrent Pharmaceuticals' Rs 3,000 crore proposal for increasing FII investment limit to 35 per cent was the biggest in terms of value
The founders of Gland Pharma, led by Ravi Penmetsa, and KKR, together own 96 per cent of the company.
Over 50 pharmaceutical companies have scaled down operations in Maharashtra and Gujarat and are moving out to states like Uttaranchal and Himachal Pradesh following steep hike in excise duty in the Union Budget.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Ranbaxy was asked to sell all products containing Leuprorelin which are marketed and supplied under brand name Eligard.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
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.
Asian shares have begun the week on a plaintive note.
Days before US President Barack Obama's high-powered visit here, the US-India CEO Forum has been reconstituted with Cyrus Mistry replacing Ratan Tata as its co-chairman
Sun Pharmaceutical, which is growing its dermatology and ophthalmic specialty business in the US will spend $460 million on R&D.
Pharmaceutical patents are just over a fourth of all patents granted in the country, but domestic drug makers account for almost all post-grant patent opposition filed, official data reveals.
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Trade and economic issues, including visa, totalisation pact and impediments hampering investments, are likely to figure at Monday's US-India CEO Forum meeting, which will be jointly addressed by visiting US President Barack Obama and Prime Minister Narendra Modi.
'We have seen a host of businesses across sectors generate economic value and wealth for investors.'
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
Over 30 domestic pharmaceutical companies, including Ranbaxy, Cipla, Nicholas Piramal, Zydus Cadila and Torrent, face a possible ban on the sale of the generic version of Merck's pain management drug in the Indian market.
The S&P BSE Sensex has rallied about 28 per cent in 2014, after formation of a stable government at the Centre.
The resultant price increase was the cause of a surprise upward variation in the "drug and medicines" segment of the weekly wholesale price index of the ministry of commerce and Industry last week, it is learnt.
With inflation down, the government's twin deficits are largely under control.
All the sectoral indices, led by realty, metal, consumer durables and power were trading in the negative zone on Thursday.
Infosys, TCS, HUL and Reliance Industries were the top gainers of the day.
Changes have been made in several indices including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250 and host of sectoral indices including FMCG, IT, media, pharma, commodities and services sector.
The bidding for the two new Indian Premier League teams is set to take place on October 17. Interestingly, while the last day for queries in regards to bidding for the teams is September 21, the bids can be picked till October 5.
The emergency use of the drug will be for adult COVID-19 patients with SpO2 93 percent and who have a high risk of progression of the disease including hospitalisation or death subject to certain conditions
Issues related with intellectual property rights, including piracy of films and software, figured prominently during the India-US CEO Forum in New Delhi attended by Prime Minister Narendra Modi and US President Barack Obama.
India's cash-rich promoters are not the same as the wealthiest. For example, Mukesh Ambani is the richest Indian based on his stake in Reliance Industries, followed by Premji, the Adani family of the Adani group, and Radhakishan Damani of Avenue Supermarts.
Biggest contribution came from Bharti group-led Satya Electoral Trust.
In an hour-long chat on rediff.com on Friday, A K Prabhakar, senior VP and Head -- Equity Research (Retail), Anand Rathi Financial Services Ltd, discussed the best stocks to put the investors' money in.
Analysts expect the indices to dip further if the global macros do not stabilise
An insider said that over the past decade or so Cipla has become immune to the exits of leaders. There have been no directional change in the long-term strategies.
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