Pharma stocks are in focus as the health ministry has asked doctors to prescribe generic names of drugs versus branded names.
In next two years, the company plans to grow both organically and via acquisitions in its financial services, pharmaceutical and information management business, says Ajay Piramal, Chairman of the Piramal Group.
Hailing the government's move, Surajit Pal, pharma analyst at Prabhudas Lilladher, says the aim of regulation is to prevent rampant use of antibiotics. He says Abbott is likely to be severely impacted by the move as it has around 15.4 percent exposure to fixed-dosed combinations.
The department of industrial policy and promotion (DIPP) today notified the new FDI policy for the pharma sector. The new policy retains old norms of keeping the FDI cap at 100 % for the sector.
Kiran Mazumdar Shaw, CMD of Biocon said their branded formulation business has grown 45 percent and excluding it the bio pharma business has seen 20 percent growth year-on-year. She also feels the business is gaining traction in emerging markets and the US.
Pharma major Pfizer registered a net profit of Rs 48.10 crore in the fourth quarter of FY12 in comparison to Rs 63.14 crore in the corresponding quarter last fiscal.
In an interview to CNBC-TV18, Kewal Handa, managing director of Pfizer and Vikas Dandekar, India Bureau Chief of PharmAsia News.Com discuss the issue of drug pricing.
In an exclusive interview to CNBC-TV18, Kiran Mazumdar Shaw of Biocon says that the breakup with Pfizer will not have any short-term impact on revenues for either company, but will reflect in the fourth quarter financials.
The deal between Biocon and Pfizer to market a range of insulin products may be in crisis. Vikas Dandekar, the India Bureau Chief of PharmAsia News who broke this story tells CNBC-TV18 that while sources are saying talks are on to salvage the deal, it is most likely to be called off.
Speaking to CNBC-TV18, Kewal Handa, managing director of Pfizer said, the draft NPPP has a few positives but the government needs to re-look at it altogether.
The Arun Maira committee report on pharma FDI was accepted by the government which said the CCI should be entrusted with the task of scrutinising pharma FDI in brownfield projects. Kewal Handa, Country Manager at Pfizer India tells CNBC-TV18 feels it is just going back to the old regime of FIPB.
Strides Arcolab received a nod by the US FDA for an Oncology unit in Bengaluru. Arun Kumar, group CEO and vice chairman of Strides Arcolab, in an exclusive interview with CNBC-TV18 shares that the company expects approvals on approximately USD 4-5 billon product filings in the next few weeks.
The US Foods and Drugs Administration (USFDA) will be sued by the US pharmaceutical company Mylan Inc, for an injunction on the launch of Ranbaxy’s cholesterol treatment drug Aricept, which is a generic version of Pfizer’s Lipitor.
Stride Arcolab announced it Q3 results for FY11. The company reported a consolidated net profit of Rs 122.4 crore for the year ended 2010 as against Rs 109.7 crore in previous year.
Speaking to CNBC-TV18, Kewal Handa, MD of Pfizer said the firm has planned multiple launches in 2011. "We expect to grow above market rates," he added.
In an exclusive interview with CNBC-TV 18, Kiran Mazumdar Shaw, CMD of Biocon says that Clingene & Syngene to undergo transformation in the business model and would wait for a year before listing the IPO. She also expects Pfizer revenues in the next 24-36 months.