After spending considerable time and energy in remediation efforts in the wake of the US Food and Drug Administration's warning letter on compliance issues, the company's leadership has finally set out to bring the house in order.
Sun Pharma's offer was tempting because Ranbaxy was too busy fighting fires in the US to concentrate on operations.
'The focus for value creation will be on all business segments.'
Indian pharma firms under European drug regulator's scanner.
Markets extended gains led by financials and capital goods shares coupled with a rebound in IT shares.
Shares in Sun Pharmaceutical Industries fell by more than 5 per cent after the company settled a patent suit with Pfizer Inc related to its acid-reflux drug for $550 million.
One reason Japan is betting highly on Indian pharma is that these companies have strong cash flows, low leverage and high debt capacity for medium to large sized acquisitions.
Proposed investment dip 33% from Rs 1.42 lakh crore (Rs 1.42 trillion) in 2011 to Rs 94,259 crore (Rs 942.59 billion) in 2013
Not much is heard or read about Sun Pharma's media-shy owner.
Companies are drawn to the parks by the infrastructure and ready-to-occupy land.
The country's drug companies have attracted the highest number of enforcements from the American drug regulator in 2013, a year that has seen the US Food and Drug Administration turning stricter to ensure compliance levels and quality of medicines.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
The deal would involve Pfizer paying with 11.3 of its shares for each Allergan share.
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The 30-share Sensex ended 117 points higher at 26,560 and the 50-share Nifty gained 31 points to end at 7,936.
The 30-share Sensex ended up 292 points at 29,571 and the 50-share Nifty closed up 75 points at 8,910.
Even smaller companies like Torrent Pharma and Alembic file five to 10 ANDAs every year.
The 30-share Sensex ended 50 points lower at 28,112 and the 50-share Nifty declined 12 points to close at 8,531.
Indian CEOs might like to make some serious course correction.
Sun Pharmaceutical Industries will take a call on whether to shut Ranbaxy's troubled factories or make changes in the top management of the latter only after its $4-billion acquisition deal is complete.
Domestic and foreign companies pour in a slew of investments in Gujarat.
Details on prices sought as 10 generic drugs become up to 83 times costlier in 6 months
It's time for Indian generic companies to rethink their strategies.
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