Mohfw notifies extension till December 31 for companies under Rs 250 cr turnover
Three entities, including two promoters of Onesource Specialty Pharma, on Friday divested a 6.8 per cent stake in the company for Rs 1,202 crore through open market transactions. Tenshi Pharmaceuticals (Promoter) and Pronomz Ventures LLP (Promoter Group) and Medella Holdings Pte Ltd were the entities who have offloaded 77.66 lakh shares or 6.8 per cent stake in Bengaluru-based Onesource Specialty Pharma, as per the bulk deal data available on the NSE. The shares were disposed of in the price range of Rs 1,545-1,552.90 apiece, taking the combined value to Rs 1,202.23 crore. The promoters of the company divested a 3.4 per cent stake in the firm. After the latest transaction, the combined shareholding of promoter holding in Onesource Specialty Pharma has come down to 34.36 per cent from 37.77 per cent and Medella Holdings stake has declined to 0.8 per cent from 4.17 per cent. Meanwhile, Motilal Oswal Mutual Fund and CPT Research & Mgmt Co T/A CPT World Investors acquired 21.95 lakh .
The Competition Commission on Tuesday cleared the proposed amalgamation of nine entities with pharmaceutical firm Sequent Scientific Ltd (SSL). "The proposed combination involves a series of inter-connected steps carried out for the amalgamation of SRL, Viyash, Symed, Appcure, Vindhya Pharma, Vandana, Vindhya Organics, Geninn and SV Labs with SSL as the ultimate surviving entity," CCI (Competition Commission of India) said in a release. SSL offers active pharmaceutical ingredients (APIs), finished dosage formulations, and analytical services for the animal health sector. Sequent Research Ltd (SRL), a wholly-owned subsidiary of SSL, is a contract research organisation. Viyash is a pharmaceutical company and through its subsidiaries is primarily engaged in the development, manufacture and sale of APIs and intermediates for human healthcare in India. Symed Labs, Appcure Labs, Vindhya Pharma (India) and Vandana Life Sciences are wholly-owned subsidiaries of Viyash while S V Labs is a
PAG had earlier acquired Manjushree Technopack for $1bn
Pharma groups had wanted two year extension, will raise concerns with govt
Company plans to employ 1,000-1,500 skilled professionals; GCC to focus on automation, AI
Pharma major Eli Lilly and Company on Thursday said it plans to establish a new global capability centre in Hyderabad and hire over 1,000 people to strengthen its digital strategy and service delivery. The Hyderabad global capability centre (GCC) will be known as Lilly Capability Centre India (LCCI) Hyderabad and will initially focus on expanding Lilly's capabilities in automation, artificial intelligence, software product engineering and cloud computing to deliver advanced technology solutions that meet the evolving needs of Lilly's business worldwide, the Eli Lilly and Company (Lilly) said in a statement. Lilly will be recruiting more than 1,000 highly-skilled team members to strengthen the company's digital strategy and service delivery, it added. The company further said it plans to employ around 1,000 to 1,500 highly-skilled professionals including technology engineers and data scientists. Recruitment for the new site is underway, and the centre is expected to be operational b
It had voluntarily paused production in September
Alembic Pharma share rose after the company announced that it has received final approval from the USFDA for its ANDA Divalproex Sodium Delayed-Release Capsules USP, 125 mg
The northward move in Dr Reddy's share price came after Tokyo, Japan-based brokerage Nomura upgraded the stock to 'Buy' from 'Neutral'
The uptick in Piramal Pharma share price came after domestic brokerage JM Financial initiated coverage with 'Buy' for a target price of Rs 340
Piramal Pharma on Friday said it will pay USD 407,400 to US-based VetDC, Inc to settle a dispute over rejected batches of a product. Piramal Pharma Solutions Inc, a unit of the company, and VetDC, Inc have entered into a settlement agreement for an amount of USD 407,400, the drug maker said in a regulatory filing. VetDC had claimed damages on account of rejection of certain batches of product manufactured and supplied by Piramal Pharma Solutions Inc. "While the company continues to believe that its legal stand is appropriate against claims made by VetDC and maintains that it has defence to VetDC's claims of liabilities and damages, in order to solely avoid continued legal costs and uncertainties of protracted litigation, the Company and VetDC have both decided to settle," Piramal Pharma said. The company shall have no responsibility for any other costs beyond the amount of USD 407,400, it added. "This settlement will not have a significant impact on the financial position of the .
Chinese biomedical research is on the cusp of a breakthrough just as the industry starts to face serious headwinds
District Fire Officer said that one person died, and nine others are under treatment after inhaling toxic gas that leaked at Tagore Pharma in Paravada, in Anakapalli district, Andhra Pradesh
The company also reported a 14.6 per cent rise in revenues in the European market to Rs 687.4 crore, while recording a 1.2 per cent revenue drop in the North America market
In two days, the stock price of Akums Drugs has declined 19% to Rs 645.30 and fallen below its issue price of Rs 679 per share.
Brokerages slash target price after subdued Q2 show
Torrent Group was actively pursuing the acquisition of Cipla and JB Chemicals and Pharmaceuticals but ultimately withdrew due to high valuations demanded by the sellers
Revenue driven by gains from US Oncology and Insulins franchises
The government has asked the companies to reduce prices of three anti-cancer drugs to pass on the benefit of customs duty exemption and GST reduction to the consumers. In line with the government's commitment to ensure the availability of drugs at affordable prices, the National Pharmaceutical Pricing Authority (NPPA) has issued an office memorandum directing the concerned manufacturers to reduce the MRP on three anti-cancer drugs, Trastuzumab, Osimertinib and Durvalumab. This is in pursuance to the announcement made in the Union Budget for the year 2024-25 exempting these three anti-cancer medicines from customs duty, the Ministry of Chemicals and Fertilisers said in a statement. The Department of Revenue, Ministry of Finance, issued a notification dated July 23, this year reducing the customs duty to nil on the three drugs. "Accordingly, there should be a reduction in MRP of these drugs in the market and benefits of reduced taxes and duties should be passed on to the consumers,"