Karmayog, a leading NGO which recently carried out a CSR rating of top 500 Indian companies, says that only two drug companies - Dr Reddy's and Lupin - have done work on this front. While the two firms scored three out of five, 30 other drug firms failed to perform satisfactorily. Nine of the companies, including leading ones such as Nicholas Piramal, Panacea and Glenmark did not score at all.
Generic drug sales in the US, that power the business of such leading Indian drug manufacturers as Ranbaxy, Dr Reddy's, Sun Pharma, Lupin and Zydus Cadila, will face competition soon, as big US wholesalers decide to outsource their requirements from upcoming Indian manufacturers.
Auto stocks will be in focus
Better-than-expected financial results in Q3 due to higher revenue growth and margins in key markets fuel the rally
Tainted stock broker Ketan Parekh and 8 of his associates received a blow, when the Supreme Court dismissed their appeals against a Sebi order banning them from trading for 14 years.
The increasing number of generic players tapping the US market for known molecules has resulted in pricing pressures and lean margins.
A recent court ruling in the US on allowing the declaratory judgment provision in the US patent law has come as a boost to Indian pharmaceutical companies such as Ranbaxy, Dr Reddy's, Sun Pharma and Lupin.
Indian exporters of ayurvedic drugs are finding it extremely difficult to tap this high-growth segment
As many as 15 companies across the world have lined up generic variants of Pfizer's Zoloft (Sertaline HCL), for which the exclusive six-month marketing period granted to the successful patent challenger, Teva of Israel, ends on Tuesday.
Among the index heavyweights, Reliance Industries ended down 1.9% while mortage lender HDFC eased 0.2%. FMCG major ITC ended down 1.3%.
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Asia's falling stocks have triggered an exodus of funds from the region.
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Shares of power, IT, tech, utilities and capital goods firmed up
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The calculation excludes cross-holding of listed group cos in each other.
This is a shift as until recent months, fund managers were reducing exposure to these sectors.
'After living in a country with hazy skies and a billion people, it is breathtaking when the sky is blue, the air crisply clean and there is drinking water in the taps. And, joy of joys, hardly any people.'
The US drug regulator raised the issue of significant deviations from the current good manufacturing practice (cGMP) in three of DRRD's plants in a letter issued in November 2015
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Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
Big bull's holdings cross Rs 7,200 crore (Rs 72 billion).
Iconic Dalal Street investors Rakesh Jhunjhunwala and Radhakishan Damani, known for their stock picks, have forged an unusual partnership to make Bollywood flicks.
As on July 31, the valuation of his shareholding in the company stood at Rs 9,830 crore.
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The 50-issue NSE Nifty in range-bound movements settled higher by 59.15 points, or 0.58 per cent, at 10,252.10.
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Investment announcement for $100 bn over 5 years likely.
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