Israeli drug firm Taro Pharmaceuticals has filed a law suit in a US district court against Mumbai-based Sun Pharmaceutical Industries alleging violation of non-disclosure agreement and misleading shareholders.
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The move is expected to delay the introduction of low-priced medicines in the market.
The deal will provide Suzlon with much needed liquidity.
While about 8,000 people are in the long list of invitees, the select list features just a few hundred people, including prominent politicians, leading industrialists, top film stars, sportspersons, bureaucrats and diplomats.
The new workforce will primarily take care of the company's proposed expansion with an outlay of Rs 216 crore, which would include capacity expansion for its various product lines, forward integration in the chemical and backward integration in the pharmaceutical divisions to produce raw materials for its flagship product Ibuprofen, besides increasing its cogeneration of power.
If Taro fails to address the issues raised by the US Food and Drug Administration, it may face ban on many of its products in the US market, made from the facility at Ontorio, Canada. If Taro fails to address the issues raised by the US Food and Drug Administration, it may face ban on many of its products in the US market, made from the facility at Ontorio, Canada. If Taro fails to address the issues raised by the US FDA, it may face ban on many of its products.
Drug maker Sun Pharmaceutical Industries on Monday said it has commercially launched generic Ethyol, used in the treatment of cancer. Ethyol is the generic version of Medimmune's Ethyol amifostine injection, used for treating cancer, Sun Pharma informed the Bombay Stock Exchange, adding that the drug has an annual sales of $80 million in the US.
In May, Taro had unilaterally terminated $-454 million merger agreement signed between Taro and Sun Pharma in 2007, citing undervaluations of its shares. Thereafter, both companies had filed suits against each other in Israel and New York.
People close to Shanghvi reveal he is known to make surprising moves both inside and outside the pharma industry.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
Of the Rs 1.97 trillion that the government intends to spend on all 14 production-linked incentive (PLI) schemes, around Rs 41,000 crore remains unutilised as of now, according to a senior government official. This means that 80 per cent of the total allocated amount, or Rs 1.56 trillion, will be used to pay incentives to companies eligible to claim benefits over the next few years. The unutilised amount/savings result from undersubscription, lukewarm responses in the case of schemes such as textile, as well as a reduction in the allocation of schemes.
They seek to profit from big-selling drugs going off-patent this year in the lucrative market.
Aespite an enviable track record, Sun Pharma's MD has always been modest about his achievements.
The study, 'CII-Interlink paper on growth agenda of pharmaceutical industry in India' has been conducted by Interlink, a business and management consulting firm. Middle class population, health insurance facilities, unpenetrated markets, marketing efficiencies, generics and brand development are the six key drivers which would push the growth in the domestic pharmaceutical segment.
Ranbaxy's troubled plants in India could see a turnaround as Sun Pharma has experience in doing so.
Ranbaxy whistleblower Dinesh Thakur tells Aziz Haniffa that a formal Congress hearing on spurious drugs from India is being sought.
In a decision that would impact the entire pharmaceutical industry, the National Pharmaceutical Pricing Authority (NPPA) has fixed the prices of 130 common drugs and antibiotics.
In a historic meeting on non-communicable diseases, the international community called on the food and beverages industry as well as the tobacco and pharmaceutical industry to be held accountable for putting profit ahead of public health.
Some Indian generic drugmakers are, however, uncertain about the pace of approvals in the near future.
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.
India's economy will see the fastest dollar nominal growth in the world in 2015, Credit Suisse says.
After establishing its dominance in the export of bulk drugs (raw materials for medicine production) to India, the Chinese drug industry is exploring ways to enter the final frontier in drug production - the finished goods or formulation business - in the country.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
Sun gets RBI nod for transfer of Ranbaxy overseas investments.
The domestic pharmaceuticals industry has proven its mettle once again with Glenmark Pharmaceuticals announcing the receipt of euro 25 million from German drug major Merck
Indian pharma company Lupin has acquired 80 per cent stake in Kyowa Pharmaceutical Industry (Kyowa), one of the top 10 generic pharmaceutical companies in Japan, for an undisclosed amount.
With local companies facing stress in domestic operations, valuations are down.
Drug firm MSD has decided to enter into voluntary licensing agreements for investigational oral antiviral drug candidate 'Mmolnupiravir', which is being studied for the treatment of Covid-19, with Indian drug firms Sun Pharma, Cipla, Dr Reddy's, Emcure Pharma and Hetero Labs, its Indian arm said on Tuesday.
The mutual fund (MF) industry had an action-packed 2023 as it tackled the scrapping of tax benefits for debt fund investors and surging flows into equity funds.
India is the fourth largest manufacturer of pharmaceutical products in the world and the 12th largest in value terms. India could emerge as the second largest producer of active pharmaceutical ingredients (API), next to China, within two to five years, overtaking Italy, according to various estimates.
'The government wants farmers to diversify from rice and wheat, and create another green revolution. Cannabis can play a big part in that'
'Taking serious note of the action by unscrupulous elements to malign the Indian generic pharma industry, the embassy of India, Beijing, has been requested to lodge a strong protest with concerned Chinese authorities and also to impress upon them to take stringent action against such unscrupulous elements,' a commerce ministry statement said in New Delhi.
