Sanofi counsels argued that SC's stance in the matter would give clarity to a number of pending tax battles involving cross border transactions.
Shantha Biotech's Shan-5, its 5-in-1 vaccine, disqualified by the WHO on quality concerns, is now up for reassesment.
The Andhra Pradesh High Court (HC) today said that French drug giant Sanofi Aventis need not pay capital gain tax as demanded by Income Tax (I-T) department for acquisition of Shantha Biotech in 2009.
Sanofi Aventis told CNBC-TV18 that it has asked the French government to intercede with the Indian tax department to waive the tax on its acquisition of Shanta Biotech
The world of pediatric vaccines is about to be shaken. And it's Hyderabad based Shantha Biotech that's going to do all the shaking
The past few years has seen several multi national pharmaceutical companies come to India looking to make acquisitions. One such company is Sanofi-Aventis who's chief executive officer Chris Viehbacher believes 'India is one of the most exciting countries in the world at this stage.'