Cipla has been asked by the Supreme Court to deposit Rs 175.07 crore with regard to cases pertaining to overcharging of certain drugs, the pharmaceuticals major said.
Drug firm Lupin has launched its generic oral contraceptive Norgestimate and ethinyl estradiol tablets in the American market after receiving nod from the US health regulator.
Cipla has been asked by the Supreme Court to deposit Rs 175.07 crore with regard to cases pertaining to overcharging of certain drugs, the pharmaceuticals major said. Writ petitions filed in the Bombay High Court that were pending before the Supreme Court have been re-transferred to the Bombay High Court for a final hearing, Cipla said citing an apex court order.
Hyderabad-based Aurobindo Pharmaceuticals is planning to raise funds via a share sale to fund the acquisition of Israel-based Teva Pharmaceutical’s European assets, if its bid is accepted by this month. The company is in a race with two other multinationals for the acquisition. Good profits and a near-doubling of its market value has given the company a confidence booster for the acquisition. Which could cost it as much as $1.3 billion (Rs 8,700 crore). For the promoters of Aurobindo, it might become a bit difficult to keep their characteristic low profile intact towards the end of this month if they win the race.
Biocon Ltd., India’s biggest biotech company, reported a 17 per cent increase in first-quarter profit, helped by healthy demand for its biosimilar drugs. Consolidated net profit for the April-June period rose to Rs.147 crore from Rs.126 crore a year-earlier. The Bengaluru-based firm said the consolidated total revenue increased by 11 per cent year-on-year to Rs.952 crore for the first quarter from Rs.857 crore. “Our strong performance this quarter has been driven by an all-round growth of our business across small molecules, biologics, branded formulations and research services,” said Kiran Mazumdar-Shaw, chairperson and managing director at Biocon. The small molecules contributed Rs.357 crore and its research unit Syngene added Rs.263 crore to the total sales for the quarter.
Drug firm Sanofi India on Friday reported a 33 per cent rise in standalone net profit at Rs 85.3 crore for the second quarter ended June 30. The company had posted a net profit of Rs 64.2 crore for the corresponding period of the previous financial year, Sanofi India said in a filing to BSE. Standalone total income from operations of the company rose to Rs 608 crore for the quarter as against Rs 550 crore for the year-ago period. It said the board of directors has declared an interim dividend of Rs 18 per equity share of Rs 10 each.
Biocon said it plans to launch recombinant human (rh)-insulin and long-acting insulin glargine in Malaysia in the second half of this fiscal, as it received regulatory approval from the South East Asian nation.
Biocon’s contract research arm Syngene International ha's lined up $200 million (around 3:1,342 crore) capex to bolster its manufacturing capabilities over the next three years. The company plans to invest $100 million (around 3:665.27 crore) in a greenfield facility at Mangaluru, the first phase of which would be operationalised by the financial year.2018-19. Besides, it has also earmarked another $100 million to create additional infrastructure at its existing facility at Bengaluru.
Cipla has been asked by the Supreme Court to deposit Rs 175.07 crore with regard to cases pertaining to overcharging of certain drugs, the pharmaceuticals major said. Writ petitions filed in the Bombay High Court that were pending before the Supreme Court have been re-transferred to the Bombay High Court for a final hearing, Cipla said citing an apex court order.
Hyderabad-based Aurobindo Pharmaceuticals is planning to raise funds via a share sale to fund the acquisition of Israel-based Teva Pharmaceutical’s European assets, if its bid is accepted by this month. The company is in a race with two other multinationals for the acquisition. Good profits and a near-doubling of its market value has given the company a confidence booster for the acquisition. Which could cost it as much as $1.3 billion (Rs 8,700 crore). For the promoters of Aurobindo, it might become a bit difficult to keep their characteristic low profile intact towards the end of this month if they win the race.
Biocon Ltd., India’s biggest biotech company, reported a 17 per cent increase in first-quarter profit, helped by healthy demand for its biosimilar drugs. Consolidated net profit for the April-June period rose to Rs.147 crore from Rs.126 crore a year-earlier. The Bengaluru-based firm said the consolidated total revenue increased by 11 per cent year-on-year to Rs.952 crore for the first quarter from Rs.857 crore. “Our strong performance this quarter has been driven by an all-round growth of our business across small molecules, biologics, branded formulations and research services,” said Kiran Mazumdar-Shaw, chairperson and managing director at Biocon. The small molecules contributed Rs.357 crore and its research unit Syngene added Rs.263 crore to the total sales for the quarter.
Drug firm Sanofi India on Friday reported a 33 per cent rise in standalone net profit at Rs 85.3 crore for the second quarter ended June 30. The company had posted a net profit of Rs 64.2 crore for the corresponding period of the previous financial year, Sanofi India said in a filing to BSE. Standalone total income from operations of the company rose to Rs 608 crore for the quarter as against Rs 550 crore for the year-ago period. It said the board of directors has declared an interim dividend of Rs 18 per equity share of Rs 10 each.
Biocon said it plans to launch recombinant human (rh)-insulin and long-acting insulin glargine in Malaysia in the second half of this fiscal, as it received regulatory approval from the South East Asian nation.
Biocon’s contract research arm Syngene International ha's lined up $200 million (around 3:1,342 crore) capex to bolster its manufacturing capabilities over the next three years. The company plans to invest $100 million (around 3:665.27 crore) in a greenfield facility at Mangaluru, the first phase of which would be operationalised by the financial year.2018-19. Besides, it has also earmarked another $100 million to create additional infrastructure at its existing facility at Bengaluru.
No comments:
Post a Comment