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BSE Announcements on Poly Medicure
Posted by :
MMB MessengerPoly Medicure Ltd has informed BSE about the Financial Results for the Quarter ended September 30, 2009....
BSE Announcements on Poly Medicure
Posted by : MMB Messenger
Poly Medicure Ltd has informed BSE that the shareholders at the Annual General Meeting (AGM) of the Company held on September 02, 2009, has appointed M/s. Doogar &
Associates, Chartered Accountants, New Delhi as auditors of the Company, in place of M/s.
Chaturvedi & Co., the retiring auditors, to hold office from the conclusion of this Annual General Meeting until the conclusion of next Annual General Meeting. ...
BSE Announcements on Poly Medicure
Posted by : MMB MessengerPoly Medicure Ltd has informed BSE that the Annual General Meeting (AGM) of the Company was held on September 02, 2009....
BSE Announcements on Poly Medicure
Posted by : MMB MessengerPoly Medicure Ltd has submitted to BSE a copy of notice published under section 225(1) read with section 190 of the Companies Act, 1956, published on Augsut 25, 2009. ...
BSE Announcements on Poly Medicure
Posted by : MMB MessengerPoly Medicure Ltd has informed BSE that the Annual General Meeting (AGM) of the Company will be held on September 02, 2009. ...
BSE Announcements on Poly Medicure
Posted by : MMB MessengerPoly Medicure Ltd has informed BSE that the Register of Members & Share Transfer Books of the Company will remain closed from August 25, 2009 to September 02, 2009 (both days inclusive) for the purpose of payment of dividend & 14th Annual General Meeting (AGM) of the Company to be held on September 02, 2009. ...
New Delhi: The lucrative domestic medical devices industry, estimated to touch $1.7 billion in 2010 and expected to grow at an annual growth rate of around 23%, is getting mired in entangled patent litigation cases, with companies dragging each other to courts.
The Rs 115 crore listed domestic medical equipment company Poly Medicure Ltd (Polymed) has challenged a patent granted to German medical equipment giant with Rs 30,000 crore turnover, B Braun’s Melsungen AG, through a counter claim filed in the Chennai patent office for revocation of the patent (specific to safety IV cannula) in question. Polymed is upbeat after the brownie points it scored when the Delhi High Court dismissed an application for interim injunction filed by the German medical equipment maker. B Braun had pleaded with the court to prevent Polymed from continuing to produce its brand of Safety I V Cannula. The German company on the other hand has appealed the case before a division (multiple judge) bench in the Delhi High Court, scheduled to be taken up for hearing in the early July.
The domestic players allege that medical devices giants are threatened by the growing presence of Indian companies in the international markets and by the ability of the Indian players to innovate, develop competitive technologies and manufacture products at a cost that is half or less than half the cost of what international players do.
“No where in the world has the medical devices sector been compared to the pharma sector for very fundamental reasons. Firstly, the laws for both areas have been very different, especially in India where while for drugs, the product patent regime was introduced as late as in 2005, while it existed in mechanical space all along.” said Pravin Anand, managing partner, Anand and Anand, the law firm representing B Braun in the case.
Also, the life-cycles of medical devices are much shorter than life cycles of drugs, innovations in the former coming in much faster than the latter, said a B Braun spokesperson and inventor of the patent in question from B Braun, Germany .
Himanshu Baid, managing director, Polymed hailed the dismissal of the injunction appeal and claimed that the patent granted in this case is flawed against which his company has already appealed. He also maintained that his product against which patent infringement case has been filed is different from the B Braun’s product in question. The high court has also said in... the fact that it was aware of Polymed selling safety IV cannula. Anand admitted that Polymed furnished documents to prove that B Braun was in know of Polymed manufacturing and selling IV cannula, but the company wasn’t aware of the configuration of the safety IV cannula.
The two companies had a contractual agreement before parting ways during the legal stand off.
The B-Braun spokesperson from Germany said that the company is disappointed about the court decision. “It took us over 13 months wait to hear about the dismissal of the application. In Germany, the same application would have met its fate in a few weeks time. This would dissuade foreign companies from marketing innovator products in the Indian market.” said the B-Braun spokesperson....
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BSE Announcements on Poly Medicure
Posted by : MMB MessengerPoly Medicure Ltd has informed BSE about the Audited Standalone financial results for the Quarter & Year ended March 31, 2009 & Audited Consolidated financial result for the Year ended March 31, 2009....
BSE Announcements on Poly Medicure
Posted by : MMB MessengerPoly Medicure Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 30, 2009, inter alia, has recommended a dividend @ Rs 2.50 per equity share of Rs 10 each, subject to declaration of dividend by the shareholders of the Company....
BSE Announcements on Poly Medicure
Posted by : MMB MessengerPoly Medicure Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 30, 2009, inter alia, to consider and approve Audited Financial Results of the Company and to recommend payment of dividend for the financial year ending March 31, 2009....
BSE Announcements on Poly Medicure
Posted by : MMB MessengerPoly Medicure Ltd has informed BSE that members of the Company, by way of Postal Ballot, have approved the resolution regarding ratifying and approving the re-appointment of Shri. Himanshu Baid as Managing Director for a further period of three (3) years with effect from August 01, 2008, to July 31, 2011, on remuneration, terms & Conditions....
BSE Announcements on Poly Medicure
Posted by : MMB MessengerPoly Medicure Ltd has informed BSE that the Company has opted to submit audited financial results for the entire financial year 2008-09 within three months of end of the financial year, instead of publishing unaudited financial results for the quarter within on month of end of the financial year....
BSE Announcements on Poly Medicure
Posted by : MMB MessengerPoly Medicure Ltd has informed BSE that the members of the Company will consider to approve the resolution through Postal Ballot....
BSE Announcements on Poly Medicure
Posted by : MMB MessengerPoly Medicure Ltd has informed BSE that the Companys Promoters and promoters entities have not pledged any share....
BSE Announcements on Poly Medicure
Posted by : MMB MessengerPoly Medicure Ltd has informed BSE about the unaudited financial results for the Quarter ended Dec 31, 2008....
