"The Mumbai-based company has entered into an alliance with Haw Par India, a wholly-owned subsidiary of Singapore's Haw Par Healthcare, to exclusively market and distribute Tiger Balm range of products in the country," Alkem Labs said in a regulatory filing.
Morepen Laboratories shares rallied as much as 10 percent Friday after a media report indicated that Piramal Enterprises is in talks to buy company's OTC business.
Painting a favourable picture for the Indian pharmaceutical companies, leading credit rating agency, ICRA said these companies will continue to benefit from recovery in the domestic market, strong growth potential in generics market in developed countries and increasing geographic footprint.
G V Prasad, VC & CEO, Dr Reddy's Laboratories tells CNBC-TV18 that North America, Russia and the Pharmaceuticals Services and Active Ingredients (PSAI) segment led to the stupendous growth in the business.
JB Chemicals & Pharmaceuticals will sell its over-the-counter or OTC business in Russia to Cilag Gmbh International, a unit of Johnson & Johnson for Rs 938.51 crore.