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…

Dr Reddy’s launches generic Zoledronic acid injection in US. Shares up 2%.

Drug firm Dr Reddy’s Laboratories on Thursday said it has launched generic Zoledronic Acid injection used for treating osteoporosis and Paget’s disease of bone in the US market following approval from the US health regulator. The company has launched Zoledronic Acid injection (5 mg/ 100 mL) on Wednesday, following approval of its abbreviated new drug…

Venus Remedies signs Exclusive Marketing Rights deal for Antibiotic Ajuvant Entity.

  Venus Remedies Limited, the research based global pharmaceutical company has accorded exclusive marketing rights for its novel antibiotic product – POTENTOX to South Africa’s pharmaceutical giant Adcock in a deal company announced. “We are pleased to join hands with Adcock and are confident that the deal shall take our research product to its meaningful…

Cipla plans big overseas push.

A generational transition is unfolding at home-grown pharma company Cipla. With its 76-year-old chairman and managing director, Yusuf Hamied, deciding to call it a day, the group’s headquarters in Mumbai is abuzz with activity as the new guard, which includes Hamied’s nephew Kaamil Hamied and niece Samera Vazirali, gears up to take charge. However, along…

Ranbaxy Labs surges 4% after issuing an update on Atorvastatin recall.

Ranbaxy Laboratories’ Update on USA Atorvastatin Recall. The company says : “We are working with the U.S. FDA, and have identified and implemented multiple corrective and preventative actions (CAPA). As part of the first step in initiating the manufacturing process to resume supplies to the U.S. market, we have commenced the production of the drug…