Increased price control over branded generic medicines has affected its profitability
The Nutribic biscuit, first launched in August, found itself in the eye of a storm, owing to copyright and trademark infringement issues.
The list of guests included celebrities from across the globe, politicians, the who's who of Hindi and south Indian cinema world and almost all the top cricketers of the country.
Given the strong prospects in the business, analysts expect the company to clock healthy growth of 15-20 per cent, going ahead.
The 'in-principle' settlement of $3 billion is covered by existing provisions. GSK expects to make payments under a final agreement next year.
Fresh meat and seafood delivery unicorn Licious is intensifying its talent acquisition endeavours as it pursues profitability and readies for an initial public offering (IPO) within the next 24 months. Delightful Gourmet, Licious' parent company, has named 39-year-old Karishma Gupta as its new chief financial officer (CFO). Her appointment aligns with Licious' drive for profitable growth through an omnichannel strategy.
FMCG major Hindustan Unilever on Wednesday reported a 1.53 per cent decline in consolidated net profit to Rs 2,561 crore for the fourth quarter ended March 31, 2024 due to factors such as deflation and softening of commodity prices. The company had posted a net profit of Rs 2,601 crore in the year-ago period, according to a regulatory filing from HUL. Net sales of Hindustan Unilever Ltd (HUL) were almost flat to Rs 15,013 crore in the March quarter.
Other noodle, pasta brands in scanner after Maggi.
There is no near-term respite for the country's largest fast-moving consumer goods maker, Hindustan Unilever (HUL), which is facing multiple challenges on the growth front. With demand showing no signs of improvement, especially in the rural segment, the October-December quarter (Q3) of 2023-24 (FY24) is likely to be similar to the previous quarter, with volume growth in the low single digits. The stock, which is down 7 per cent over the past year compared to the 11 per cent jump for the S&P BSE Sensex, could underperform the benchmark in the near term as well.
Other Health Food Drinks brands of GSK -- Boost, Maltova and Viva -- would come to HUL's portfolio by virtue of the merger, making it a leading player in the segment.
Leading FMCG firm HUL on Thursday said it has switched to green fuel alternatives such as biomass and biodiesel and has eliminated the usage of coal across its operations. The company has collaborated with biomass suppliers and local farmers to ensure sustainable supply of green fuel and has made the necessary changes for the renewable transition in its coal-fired boilers, said an HUL statement. Besides, the shift from coal to renewable energy sources has also resulted in savings for the company, it added.
The transaction is an all equity merger with 4.39 shares of HUL being allotted for every share in GlaxoSmithKline Consumer Healthcare India
FMCG major HUL on Friday announced the appointment of Rohit Jawa as the managing director & chief executive officer to succeed Sanjiv Mehta who will retire from the company after leading it for a decade. Jawa, presently the Chief of Transformation for Unilever, would take over the leadership role for a term of five consecutive years with effect from June 27, 2023, the company said in a statement. "The appointment of Rohit Jawa as a whole-time director and MD & CEO will be subject to approval of Shareholders and other statutory approvals as may be applicable," it added.
Pharma companies gear up for the 'new normal' as they train and align their sales forces for a paradigm shift. GSK leads the charge with staggered return-to-work, others plans yoga sessions and health care webinars for salesperson's family.
"We have a cash balance of close to Rs 1,500 crore. A majority of this balance can be used for acquisitions as our annual working capital requirement is only Rs 25-30 crore. I will not rule out a buyout of companies to expand our domestic business," said Mernosh Kapadia, senior executive director, GSK India. It is speculated that GlaxoSmithKline Plc is in talks to acquire leading Indian drug major Piramal Healthcare, in a deal valued over $1.5 billion.
One of the oldest living brands in the country, Horlicks has been innovative in its approach, which helped it survive intense competition
Experts say despite it being a global deal, the transaction will have to undergo CCI scrutiny because of the scale of operations.
Sources indicated that there were no fresh orders from the Government of India, and their supply commitments have ended as of March 31, reports Sohini Das.
As competition heats up, health drink brands like GSK, Mondelez, Nestle get more aggressive with promotions and promises.
Amid reports of a US Congress probe against India's largest drug maker Ranbaxy Laboratories, data show that many leading multinational companies such as Pfizer, GlaxoSmithKline, Novartis and Merck are also under the scanner of the US drug regulator, for more or less similar violations as Ranbaxy is alleged to have committed.
Only a couple of specialty wire services in the US picked up this news; the mainstream press ignored what appears to be a marked -- and dramatic shift -- in the approach to drug discovery. What we are seeing is the first big bang contribution to open source drug discovery, an initiative to rope in researchers, universities and companies to make drug breakthroughs less expensive and time-consuming.
Aurobindo Pharma, Cadila Healthcare and Serum Institute are readying their vaccine candidates.
The UK's medicines regulator on Thursday approved a new antibody treatment against COVID-19, which it believes will also be effective against new variants such as Omicron.
The Cabinet Committee on Economic Affairs has approved the proposal of GlaxoSmithKline Pte Limited, Singapore for acquisition of 24.33 per cent shares in existing Indian subsidiary company of GSK Group.
According to medical practitioners, the treatment is especially useful in controlling disease among those who have not received the vaccine or got only one shot and also the high-risk contacts of a patient.
According to the sources, the vaccine will be much more affordable than existing ones manufactured by two foreign companies. India's drug regulator in July had granted market approval for the Pneumococcal Polysaccharide Conjugate vaccine, after reviewing the phase 1, 2 and 3 clinical trial data submitted by the Pune-based firm.
Horlicks widens brand appeal in increasingly competitive market.
The plant and associated facilities focus on manufacturing or packaging Amoxicilin-based products, which include semi-synthetic penicillin
A probe finds several pharma majors in breach of the law; and in turn they blame the government.
DRL launched four new products in North America during the previous quarter.
The new malaria vaccine (RTS.S/ AS01, tentatively brand-named Mosquirix) is the very first one to offer immunity against a parasite -- specifically the plasmodium falciparum parasite, which is the deadliest of the five parasites that cause malaria.
The US market for the drug is pegged at $1 billion. Cipla has been selling the product in the European market. It had won a similar case in the UK against GSK a couple of years ago.
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