The government is likely to commission a study soon to assess the impact of foreign direct investment in existing pharmaceutical companies in view of concerns expressed on the issue by a Parliamentary panel.
CNBC-TV18's Payaswini Upadhyay reports that pharma companies, Hospira and Mylan were forced to modify non-compete clauses to receive the CCI's permission to go ahead with their acquisitions.
The letter followed an October inspection of the facility in Tamil Nadu, where the FDA said it had found significant violations of quality regulations for finished drugs.
K Raghavendra Rao, chairman and managing director, Orchid Chemicals and Pharmaceuticals is optimistic on the company's performance in the next quarter.
Shares of Orchid Chemicals were on the rise after the pharmaceutical company sold its penicillin and penem business to US-based Hospira Inc for USD 200 million.
Cadila Healthcare's joint venture partner Hospira won approval from US FDA for generic version of Sanofi-Aventis' cancer drug Taxotere. CNBC-TV18's Ekta Batra reports on how will this impact Sun Pharma and Cadila Health.