Pfizer, the world's largest drug company, and Wyeth have sued Daiichi Sankyo-owned Ranbaxy Laboratories in a US court for infringing the patent rights of Wyeth's drug, Rapamune.
The joint drug-discovery project of multinational pharma firm Wyeth and GVK Biosciences will fully take off within a month's time, following the establishment of a dedicated discovery chemistry research laboratory.
In the international market, Pfizer completed its acquisition of Wyeth in 2009.
The merger of Pfizer and Wyeth is expected to create the second-biggest drug maker among multinational companies in India. The world's largest drug maker Pfizer yesterday announced a $68-billion acquisition of US-based Wyeth.
'And Joshimath has already shown the dangers ahead.' 'We have to acknowledge that our mountains are still young babies.' 'You don't put an extra load on the back of a growing child!'
US Department of Justice had charged Wyeth for promoting its acid reflux drug Protonix for unapproved uses and making unproven claims.
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.
Mathew Martoma, a former SAC Capital portfolio manager, faces 20 years in prison for securities fraud and five years for conspiracy
The anti-depressant drug market in the US is primarily ruled by Effexor XR (Venlafaxine) of Wyeth (now owned by Pfizer).
He was sentenced to nine and five years on charges of conspiracy and two of securities fraud.
The Sensex closed at 12,009.59 up 37 points. The Nifty gained 7 points to close at 3,479.
The markets opened in green tracking its Asian peers
Popular antacid Mucaine Gel, manufactured by Pfizer's subsidiary Wyeth Laboratories, was also found laced with the heavy metals as well as cadmium.
'Serious crimes of this sort cannot be excused merely because he has a family.' P Rajendran/Rediff.com was in the courtroom last week when Mathew Martoma was sentenced to nine years in prison for insider trading.
Merrill Lynch jumps to first from 7th last year in a smaller market; says its focus is larger deals and clients.
A probe finds several pharma majors in breach of the law; and in turn they blame the government.
Import alert on Ranbaxy's Mohali unit; Strides' injectible arm gets warning letter
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