Business News, Financial News, Analysis, Commentary, Views, Opinion
India’s Kotak Mahindra Bank (Kotak) and Malaysia’s CIMB Group Sdn Bhd have decided to join hands to source business in select countries in the Indo-ASEAN corridor (Association of South-East Asian Nations). ASEAN comprises Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
Continue ReadingThe ASI’s monuments in India are doing brisk business as both Indians and foreigners flock to sample India’s history and culture. Revenues from tickets at monuments rose by about 12% to Rs 87 crore in 2010-11.
Taj Mahal, Shah Jahan’s tribute to his wife Mumtaz Mahal, is the country’s top tourist attraction. The data from Archaeological Survey of India (ASI) on revenue from entrance fees at Indian monuments owned by the government, shows that Taj Mahal alone grossed around 23% of the total earnings for in 2010-11, at about Rs 20 crore.
Continue ReadingIndia’s dispute with the European Union over the passage of generics drugs through EU territory is close to a resolution, or so it appears. The dispute dates back to 2008 when the EU began seizing drug shipments, of generic drugs being shipped to countries via the EU. India’s position as a leading supplier of generic drugs saw it being one of the worst affected.
Continue ReadingIndia’s Dr Reddy’s Laboratories and Japan’s Fujifilm Corporation (Fujifilm) will jointly sell generic drugs in Japan, the world’s second largest pharmaceutical market after the USA. Fujifilm is better known for its photographic products but has been added pharmaceuticals to its portfolio, as digital imaging has affected the prospects of traditional camera and film roll companies.
Continue ReadingUnited Phosphorus’ appetite for acquisitions shows no signs of abating. The company has acquired a 51% stake in DVA Agro do Brazil (DVA Agro Brazil), an agrochemicals company. DVA Agro Brazil is the Brazilian operation of DVA Agro, which in turn houses the agrochemicals business of DVA International, a Germany-based diversified company with operations in steel, plastics, and health & nutrition.
Continue ReadingGlenmark Pharmaceuticals has received $15 million, or about Rs 66.75 crore, from Salix Pharmaceuticals Inc, USA to upgrade its manufacturing facilities for crofelemer, a drug used to treat HIV induced diarrhoea.
Salix had earlier agreed to pay Glenmark USD 21.6 million as commitment fees in addition to the purchase price for the drug. Crofelemer has been in-licensed by Glenmark from Napo Pharmaceuticals, USA and the drug is currently undergoing Phase 3 clinical trials in the US.
Continue ReadingRanbaxy Laboratories announced that it has launched the generic version of Novartis’ cancer drug Femara in 3 European Union countries. The subsidiary of Japan’s Daiichi Sankyo said that it has launched letrozole on day 1, that is the first day after the patent on the drug expired.
Continue ReadingGlenmark Pharmaceuticals Ltd announced that a molecule under development in its labs has cleared the first phase of human clinical trials. Glenmark Pharmaceuticals S.A, a subsidiary of Glenmark, conducted the trials in the UK and said that the drug has been well tolerated with a good pharmacokinetic profile. Pharmacokinetics refers to how the body behaves when a drug enters the blood stream.
Continue ReadingJB Chemicals & Pharmaceuticals made headlines recently when it sold the over-the-counter business in Russia and the CIS (Commonwealth of Independent States) to Johnson & Johnson. Now, it has announced the sale of prescription part of the business to Dr Reddy’s Laboratories, another player with a significant presence in Russia.
Continue ReadingFuture Ventures India, the listed investment company of the Kishore Biyani-led Future Group, has increased its stake in Amar Chitra Katha Private Limited to 56%, from 26% held till now. Earlier, its financials would have been consolidated as an associate of Future Ventures, but now it will reflect in its revenues and profits as well, under what is known as the line-by-line method of consolidation.
Continue Reading