K Anji Reddy from a small village near Vijaywada, quit his job with the government-owned Indian Drugs and Pharmaceuticals Limited in 1974 to set up his own company. The rest is history.
But, the process patent that existed previously had already allowed for a huge number of cheaper generics. Even so, within two months, Pfizer's Viagra had exceeded its own expectations by capturing 1.8 per cent of the market, worth around Rs 80 crore (Rs 800 million). It set an example and gave hope to other pharma companies to launch their products in India.
The branding initiative coincides with the company's expansion.
Wockhardt's US subsidiary, Wockhardt USA, has launched Ondansetron injection in the United States on December 26.
Medicines produced in India have become a lifeline for people living in developing countries around the world.
After raising its stake to 100% in UK JV; the firm plans to expand European portfolio with new products.
Ranbaxy Laboratories has acquired Be-Tabs Pharmaceuticals, the fifth-largest generics company in South Africa, for $70 million.
In comparison, Indian companies received only 23 out of 139 final approvals (16.54 per cent) in the corresponding period in 2006.
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."
Ranbaxy Laboratories, the country's biggest drugmaker, is all set to focus its energies in developing and marketing niche products where price erosion is minimal
The sample size of 8,100 farmers across 19 states has not changed in the last three decades, and the methodology of the sample survey too remains unchanged
Wockhardt MD Murtaza Khorakiwala said his firm had responded to the FDA's observations but declined to give details.
The recent recalls come amid increased FDA scrutiny of medicines produced in India.
Abbott Laboratories is suing India's Ranbaxy Laboratories as well as Israel's Teva and Sandoz of the Novartis group, in Chicago for allegedly violating its patents protecting Omnicef, a drug used to treat ear, throat and skin infections.
Amid reports of a possible delay in release of spectrum by the defence forces, DoT is going ahead with regulator Telecom Regulatory Authority of India's recommendations on auctioning the airwaves with a reserve base price.
As per the new guidelines, the wholesalers will get 15 per cent margin while retailers will 35 per cent over the cost of manufacturing of generic medicines, Minister of Chemicals and Fertiliser Ram Vilas Paswan told reporters.
A new study reveals how drug brand names are hijacked by online pharmacies that churn out spam e-mails and hawk counterfeit pills.
Pharmaceutical company Unichem Laboratories Ltd said on Friday it has entered into a product development, manufacturing and supply agreement with US-based PLIVA Inc.
India needs to sustain a GDP growth rate of 8 per cent to become a five trillion dollar economy by 2025, the Economic Survey has stated.
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