Glenmark Pharmaceuticals launched an offer on the Singapore Stock Exchange to raise up to $200 million (over Rs 1,340 crore) through issue of securities. The Mumbai-based company has decided on a regulatory floor price for conversion of the FCCBs at Rs 861.84. The company, however, did not disclose the reason for the fund-raising.
Battling pricing pressures in the US and at home, drug-maker Sun Pharmaceutical Industries has projected a revenue growth of 8-10 per cent in the year ahead. “I see traction in all parts of the business,” Dilip Shanghvi, Managing Director told analysts on Tuesday, giving a guidance on the company’s growth prospects, taking into account remediation efforts at Sun’s Halol plant and the end of sales exclusivity on cancer drug Imatinib in the US. He also indicated that the recent acquisition of Novartis’ products in Japan would contribute to the company’s revenues later in the financial year.
Glenmark Pharmaceuticals launched an offer on the Singapore Stock Exchange to raise up to $200 million (over Rs 1,340 crore) through issue of securities. The Mumbai-based company has decided on a regulatory floor price for conversion of the FCCBs at Rs 861.84. The company, however, did not disclose the reason for the fund-raising.
Drug maker Unichem Laboratories has earmarked a capital expenditure of around Rs 200 crone for the current fiscal, most of which would go into the company's upcoming API plant in Kolhapur, Maharashtra."In the current year we are looking at around Rs 150- 200 crore of capex which may get spilled over to FY2018 also," Unichem Laboratories VP finance and CFO Rakesh Pankh said. The API unit is coming up and it has a major capital expenditure, he said, adding that "the work out there is going on in full swing".
The Sun Pharmaceutical Industries Ltd stock fell 6.13% on BSE on Tuesday, after the announcement of the company’s results on Monday. What led to the plunge? It wasn’t the company’s 1.8% sales growth in FY16, because that was not much of a surprise, as the management had indicated as much. What shocked investors is its sales growth projection for FY17. An 8-10% sales growth is not what they expected, and even a proposed share buyback did little to lift spirits.
Aurobindo Pharma plans to focus on increased Abbreviated New Drug Application (ANDA) filings and new differentiated product launches to maintain growth. The company posted a growth of 15% in sales and 26% in profit in the fiscal year ended March 2016.
Shantha Biotechnics Pvt Ltd, an arm of Sanofi Pasteur, has started commercial production at its new vaccine production facility in the special economic zone of Muppireddipalli near here. This was announced by its Non-Executive Chairman K I Varaprasad Reddy at a press conference held here on Tuesday. The plant was set up with an investment of Rs 250 crore and has got regulatory approvals from the World Health Organisation and Indian authorities, according to Mahesh Bhalgat, Executive Director and Chief Operating Officer of Shantha.
Global alternative asset manager Apollo Global Management LLC is seeking a licence to start an asset reconstruction company (ARC) in India, two people directly familiar with the matter said. Apollo is one of a number of firms looking at entering the stressed assets business in India as banks try to clean up their balance sheets. Apollo Global confirmed that it is considering the option.
Ireland-based Jazz Pharmaceuticals will buy US-based Celator Pharmaceuticals in a cash deal valued at about $1.5 billion, to gain access to an investigational product in development for treating acute myeloid leukemia. Jazz Pharmaceuticals will pay $30.25 per share i n cash for Celator.
Glenmark Pharmaceuticals launched an offer on the Singapore Stock Exchange to raise up to $200 million (over Rs 1,340 crore) through issue of securities. The Mumbai-based company has decided on a regulatory floor price for conversion of the FCCBs at Rs 861.84. The company, however, did not disclose the reason for the fund-raising.
Drug maker Unichem Laboratories has earmarked a capital expenditure of around Rs 200 crone for the current fiscal, most of which would go into the company's upcoming API plant in Kolhapur, Maharashtra."In the current year we are looking at around Rs 150- 200 crore of capex which may get spilled over to FY2018 also," Unichem Laboratories VP finance and CFO Rakesh Pankh said. The API unit is coming up and it has a major capital expenditure, he said, adding that "the work out there is going on in full swing".
The Sun Pharmaceutical Industries Ltd stock fell 6.13% on BSE on Tuesday, after the announcement of the company’s results on Monday. What led to the plunge? It wasn’t the company’s 1.8% sales growth in FY16, because that was not much of a surprise, as the management had indicated as much. What shocked investors is its sales growth projection for FY17. An 8-10% sales growth is not what they expected, and even a proposed share buyback did little to lift spirits.
Aurobindo Pharma plans to focus on increased Abbreviated New Drug Application (ANDA) filings and new differentiated product launches to maintain growth. The company posted a growth of 15% in sales and 26% in profit in the fiscal year ended March 2016.
Shantha Biotechnics Pvt Ltd, an arm of Sanofi Pasteur, has started commercial production at its new vaccine production facility in the special economic zone of Muppireddipalli near here. This was announced by its Non-Executive Chairman K I Varaprasad Reddy at a press conference held here on Tuesday. The plant was set up with an investment of Rs 250 crore and has got regulatory approvals from the World Health Organisation and Indian authorities, according to Mahesh Bhalgat, Executive Director and Chief Operating Officer of Shantha.
Global alternative asset manager Apollo Global Management LLC is seeking a licence to start an asset reconstruction company (ARC) in India, two people directly familiar with the matter said. Apollo is one of a number of firms looking at entering the stressed assets business in India as banks try to clean up their balance sheets. Apollo Global confirmed that it is considering the option.
Ireland-based Jazz Pharmaceuticals will buy US-based Celator Pharmaceuticals in a cash deal valued at about $1.5 billion, to gain access to an investigational product in development for treating acute myeloid leukemia. Jazz Pharmaceuticals will pay $30.25 per share i n cash for Celator.
No comments:
Post a Comment