Why Investors Are Betting On MNCs Over Homegrown Drugmakers

Investors have shown a healthy appetite for shares of multinational pharmaceutical companies, even as stocks of homegrown drugmakers continue to struggle. Stocks such as Sanofi India Ltd. are trading at fresh record highs, while Lupin Ltd. is trading near fresh 52-week lows. Year-to-date returns show that MNC stocks such as Sanofi India, Pfizer Ltd. and Abbott India Ltd. have given positive returns, while…

Wockhardt plunges 20% after FDA warning, downgrade.

Brokerages  downgraded  shares in drug maker Wockhardt  on concerns that an import ban imposed by the United States over quality issues would last longer than expected, sending the stock down 20 percent. Wockhardt shares have fallen 25.8 percent so far this week, wiping 25.1 billion rupees from its market value, after a warning from the…

Glenmark gets US regulator nod for sclerosis treatment drug

Drug firm Glenmark Pharmaceuticals today said it has received US health regulator’s approval to market Riluzole tablets, used in treating nervous system disorder, in the American market. Glenmark Generics Inc, the US-based subsidiary of Glenmark Generics Ltd (GGL) has received final approval from the US Food and Drug Administration (USFDA) for Riluzole tablets in 50…

Sun Pharma Announces 1 : 1 Bonus Shares. Q4 net up 23 percent.

Sun Pharmaceutical Industries reported a 23.4 percent rise in quarterly net profit beating market estimates, and India’s top drugmaker by market value also announced a bonus share issue. The Mumbai-based company said consolidated net profit rose to 10.12 billion rupees for the fourth quarter ended March 31, compared with 8.2 billion rupees a year earlier….

Wockhardt Q4 net profit at Rs 334.76 crore. Declares Rs 5/- per share dividend.

Drug firm Wockhardt on Monday reported a consolidated net profit of Rs 334.76 crore (Rs 3.34 billion) for the fourth quarter ended March 31, 2013, mainly on back of robust sales. It had posted a net loss of Rs 191.64 crore (Rs 1.91 billion) for the corresponding period previous fiscal, the company said in a…

New drug policy: DPCO 2013 to bring 348 drugs under price control v/s current 74.

It was an eventful last week for the pharmaceutical sector. While on one hand, the S&P BSE Healthcare index hit a 52-week high on Thursday with 14 of the 17 companies logging smart gains, the government notified the new Drug Price Control Order (DPCO) post market hours that day that replaces the existing order passed…

Cipla Medpro shareholders approve buyout by India’s Cipla

SHAREHOLDERS of South African pharmaceutical company Cipla Medpro on Wednesday approved the acquisition of its entire issued capital by Indian pharmaceutical group Cipla, in a deal valued at R4.5bn. The deal, one of the single biggest foreign direct investments into South Africa to date, aims to strengthen Cipla Medpro’s position in the South African market,…