The Parliamentary Committee on Commerce on FDI in the pharmaceutical sector has asked the government to impose a blanket ban on foreign investment in brownfield pharma projects.
The $500 million fine on Ranbaxy by US authorities after it pleaded guilty to "felony charges" for violating drug manufacturing norms is "a wake up call" for Indian pharmaceutical industry, according to Biocon Chairman and Manging Director Kiran Mazumdar-Shaw.
"At a company level, we were aware of the upcoming policy and have factored in the impact which is likely to be in the range of 3-4 per cent of our finished dosage sales in India. We have plans in place to ride over this impact," Dr Reddy's Laboratories Vice-Chairman and MD Satish Reddy said.
Information Technology services and pharmaceuticals are likely to drive hiring growth in 2013, to fill mid and senior positions, said HeadHonchos.com, a leading job search and career management portal.
According to industry estimates, there are around 18 patented drugs being marketed in India with a total market value of around Rs 4,000 crore to Rs 5,000 crore, about 12 percent of the overall domestic market
All business segments recorded strong performances with the US segment recording maximum growth.
Pharmaceuticals firm Divi's Laboratories reported 63.15 percent increase in standalone net profit for the quarter ended 30 June, 2012 at Rs 167.38 crore, driven by higher sales realisation.
The Mumbai-headquartered firm said in a filing to the BSE that its board on 10 August "would consider the internal restructuring of the business of the company with effect from 31 March, 2012".
Japanese pharma major Daiichi Sankyo will sell Ranbaxy's drugs in Venezuela expanding its portfolio of medicines to promote the hybrid business model.
Piramal is sitting on a pile of cash and if put to sensible use, the shareholders will definitely benefit. But what is the company's objective? Will it remain a conglomerate or not?