BUSINESS
Biocon Q1 net profit jumps 47% to Rs 120 crore, beats analyst estimates
Total revenue for the quarter under review grew 21 percent to Rs 1,192 crore in the April-June period.
BUSINESS
Dr Reddy's profit grows eight-fold on higher sales in India, US & emerging markets
Revenue during the quarter grew 12 percent to Rs 3,721 crore compared to Rs 3,316 crore in the same quarter last year.
BUSINESS
SRL looks to inject new lease of life into biz, rolls out wellness-themed marketing plan
SRL which contributes about one-fifth of Fortis revenues of Rs 4537 crore in FY18, has been struggling to grow its margins and revenues faced with competition and pricing pressure.
BUSINESS
EXCLUSIVE | Govt commissions study on package rates under Modicare, open to revise rates
Niti Aayog and ICMR are tasked to do undertake a detailed study that aims to examine the cost of each procedure and arrive at a suitable package rate.
BUSINESS
Pharma weekly wrap: Daiichi seeks stay on Fortis-IHH deal, Q1 results
The shareholders of Fortis are scheduled to meet at an extraordinary general meeting in Delhi on August 13 to approve IHH’s offer.
BUSINESS
Exclusive | West Bengal to join Modicare, sign MoU with Centre soon
Unlike most other states who are following a trust based model wherein claims are settled from a corpus created from contributions from central and state governments, West Bengal will run the scheme through insurance model which means the state will buy cover from the insurance company that quotes the lowest premium.
BUSINESS
IHH wins Fortis bid — Meet CEO Tan See Leng, a bus timekeeper's son key to Malaysian co's rise to the top
"I think one of the key things about such a great, deep, and long learning curve is that during the process of learning what to do, I think we have also learned the more important lesson of what not to do," Tan said in call to analysts referring to Company's India business.
BUSINESS
Portea to turn profitable in next 18 months, looks at acquisitions in multiple segments
The company's founder said that the company is sufficiently funded, and is constantly looking at segments like nutrition, mental health and tele-medicine for acquisitions
BUSINESS
Daiichi seeks stay on Fortis-IHH deal, cites Rs 3,500-cr arbitration case against Singh bros
The court has asked Fortis and the Singh brothers, Malvinder and Shivinder, to respond to Daiichi's application by the next hearing scheduled on August 1.
BUSINESS
Pharma weekly wrap: IHH may get its offer approved, but getting Fortis back on track remains a challenge
To consummate the deal, the IHH offer will now need the approval of Fortis' shareholders and the Competition Commission of India (CCI). According to the Fortis board, all this should not take more than 75 days
BUSINESS
Aurobindo to acquire Apotex ops in 5 European nations for 74 million euros
The Hyderabad-based drug firm has inked definitive agreement to acquire commercial operations and certain supporting infrastructure from Apotex International Inc.
BUSINESS
IHH CEO says top priority is to stablise and secure Fortis Healthcare
Tan said IHH has developed a 100-day turnaround plan to improve the operating margins by around 500-600 basis points.
BUSINESS
Fortis board unanimously approves Rs 4,000 crore IHH Healthcare bid
Fortis' chairman Rajagopal believes that "the IHH proposal offers a more strategically and financially compelling proposition along with simplicity and certainty."
BUSINESS
Pharma Q1 preview: Poised for strong performance on rebound of domestic and stable US generics biz
"For the first time after six consecutive quarters, the pharma companies under our coverage will report double digit YoY growth of 13 percent in revenues,” said HDFC Securities
BUSINESS
As Modicare deadline nears, govt struggles to get private hospitals on board
On an average, the rates proposed under the scheme are almost 30-45 percent lower than what a hospital would normally charge
BUSINESS
Amar Ujala group to set up chain of hospitals in North India
Amar Ujala group, the publisher of leading Hindi daily Amar Ujala said it will be investing Rs 200 crore in setting up chain of hospitals in tier-2 and tier-3 towns of North India
BUSINESS
Fortis to decide on bids anytime this week, IHH may emerge frontrunner
An official of Fortis said the board is yet to take a call and a final decision on the bids could be expected by Friday
BUSINESS
Fortis releases audited Q4 and FY18 results, auditor raises red flags
The beleaguered healthcare provider, as per the audited financial statement, reported a loss of Rs 932 crore for the fourth quarter ended March impacted by continuing business challenges, impairments and provisions
BUSINESS
IHH Healthcare, Manipal-TPG submit fresh bids for Fortis
It is yet not clear if the Munjal-Burmans consortium has put in a bid
BUSINESS
Download now! This app by NPPA helps you check approved prices of medicines
NPPA will initiate action on any complaint within 48 hrs of its receipt
BUSINESS
Pharma industry recovers from GST pangs, poised for double digit growth
The transition to GST hasn't been smooth for the industry, as pharma supply chains have gone through unprecedented disruptions.
BUSINESS
US court extends restraining order on DRL for selling Suboxone
Indivior, the innovator of the drug, had moved an injunction motion against Dr Reddy's to block the company from selling generic Suboxone in US
BUSINESS
Delay in declaring audited numbers, Singh bros' claim on brands spook Fortis bidders
"We knew much of what has been disclosed by the company as part of earnings, but we will take comfort only if it has a seal of the statutory auditor," said a bidder
BUSINESS
More skeletons in the Fortis closet, as Singh bros claim ownership of Fortis brands
The company got four notices, of which two notices on May 30 and June 1 claiming Rs 18 crore from Fortis, and two more notices on June 4 demanding Rs 215.82 crore and Rs 19.62 crore respectively.
