Pharmaceutical Sector

Cipla Intraday Buy Call

Stock market analysts have maintained ‘buy’ rating on Cipla stock with an Cipla Intraday Buy Callintraday target of Rs 231.

According to them, interested traders can purchase the stock around Rs 228 with a strict stop loss of Rs 225. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 232.
 

Daiichi Gets Nod For Ranbaxy Open Offer

The Japanese drug maker major Daiichi Sankyo is all set for acquisition of Daiichi Gets Nod For Ranbaxy Open Offermajority shares in Ranbaxy Laboratories. The company has received approval of Sebi and FIPB to push the deal.

The Japanese major can invest its $4.6 billion in the Ranbaxy laboratories. Earlier, the company has acquired over 15% stake of Ranbaxy. It had announced to buy 34.8 per cent shares at the face value of Rs 737 per share. It has shown interest to buy 20 per cent additional stakes in the company.

Aurobindo Pharma Gets USFDA Approval For Alendronate Sodium Tablets

Drugmaker Aurobindo Pharma Ltd has received US regulatory approval to Aurobindo Pharma Gets USFDA Approval For Alendronate Sodium Tablets manufacture and market Alendronate Sodium tablets, in variants of 10 mg, 35 mg and 70 mg.
 
Alendronate Sodium tablets, used in the treatment of Osteoporosis, are generic equivalent to Merck & Co's Inc Fosamax tablets.

This has been one of fastest approvals received by the company, within 8 months of the date of filing. With this, the number of Abbreviated New Drug Application (ANDA) approvals from the US FDA stands at 73. 

Divis Lab Intraday Buy Call

Karvy Stock Broking Limited has maintained ‘Buy’ rating on Divis Divis Laboratories Ltd Laboratories Ltd stock with an intraday target of Rs 1530.

According to Karvy, day traders can purchase the stock between Rs 1440-1450 with a strict stop loss of Rs 1400. The stock pricing becomes more attractive, and reach above Rs 1540, if the stock market remains on positive track.

Ranbaxy Intraday Buy Call

Stock market analysts have maintained ‘buy’ rating on Ranbaxy Ranbaxy Laboratories LtdLaboratories stock with an intraday target of Rs 531.

According to them, interested traders can purchase the stock above Rs 525 with a strict stop loss of Rs 521. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 532.
 
Shares of the company, on Monday (August 4), closed at Rs 524 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 829050. The share price has seen a 52-week high of Rs 613.70 and a low of Rs 299.90 on BSE.

Dabur India reveals investment plan worth Rs 250 crore

Dabur India reveals investment plan worth Rs 250 croreDabur India Limited, India's leading natural healthcare company, plans to invest over Rs 250 crore in the next one year to set up a greenfield facility for manufacturing a range of consumer goods and upgrade its existing facilities.

The company plans to set up a new manufacturing facility in India entailing a capital expenditure of about Rs 150 crore, which would be made in the next fiscal.

Orchid Chemicals bags approval for Piperacillin and Tazobactam

Orchid Chemicals bags approval for Piperacillin and TazobactamChennai-based generic pharmaceutical major, Orchid Chemicals & Pharmaceuticals Limited has received approvals of its Marketing Authorization (MA) for Piperacillin and Tazobactam for injection for marketing in the EU countries. The pharmaceutical company filed the MA for this product with the UK MHRA through the DCP (de-centralised procedure) route enabling the company to launch the product across EU countries. In August month research reports, India based Capital Markets has recommended a buy rating on Orchid Chemical and Pharmaceuticals with a target price of Rs 305.

Aurobindo Pharma Gets USFDA Nod For Ceftriaxone Injection

India’s leading drug maker, Aurobindo Pharma has got sanction from the US Aurobindo Pharma Gets USFDA Nod For Ceftriaxone InjectionFood and Drug Administration (USFDA) for Ceftriaxone injection.

Ceftriaxone is a yellowish-orange crystalline powder belongs to group of antibiotics named cephalosporins, which is used as injection in the treatment of severe infections.

It is available in five strengths i.e. 250 mg, 500 mg, 1g, 2g and 10g.

Shares of the company closed up Rs 7.55, or 2.71%, at Rs 286.4. The total volume of shares traded at the BSE was 39,689.

Strides Arcolab completes acquisition of 50% stake in Australian firm

Drug maker Strides Arcolab has informed that it has completed acquisition of 50.1% stake in Australia stock exchange listed firm Ascent Pharmahealth, formerly known as Genepharm Australasia.

In February, Strides Arcolab had entered into an agreement with Genepharm, under which it would transfer its businesses in Australia and Asia to the Australian Stock Exchange-listed firm.

Under the deal, Australian company would also include the assets of Drug Houses of Australia (DHA) in Singapore, a wholly-owned subsidiary of Strides.

An official release stated that the company at final closing in September '08 would own up to 55% in the Ascent Pharmahealth.

Aurobindo Pharma gets USFDA approval for Ceftriaxone Injection

Hyderabad-based pharmaceuticals giant Aurobindo Pharma has received final approval from the US Food and Drug Administration (USFDA) for Ceftriaxone injection, in the strengths of 250 mg, 500 mg, 1g, 2g and 10g.

Ceftriaxone, generally used for severe infections, belongs to a group of antibiotics called the cephalosporins.

In recently announced results, Aurobindo Pharma has reported a 73% fall in quarterly net profit hit by foreign exchange-related charges.

The pharmaceutical major has registered 31% decline in its standalone net profit to Rs 39.87 crore for the quarter ended June 2008 compared to Rs 58.54 crore during the same quarter last year.

Its total income grew 27.64 per cent to Rs 684.7 crore, as against Rs 536.4 crore.

Sun Pharma Still Keen On Taro Takeover

The issue between Sun Pharmaceutical Industries and Israel’s Taro Sun Pharma Still Keen On Taro Takeover  Pharmaceuticals has been in the main headlines from quite some time now. Though the former is still very keen to takeover the latter, but the legal fight between the two could delay the process. The news was broken by the Mumbai based Sun Pharma’s chairman and managing director, Dilip Shanghvi, who ruled out an out-of-court settlement with Taro Pharma.

Ranbaxy’s Net Down 91%

Due to foreign exchange losses of Rs 193 crore, Indian pharma giant Ranbaxy Laboratories Ltd suffered a loss in its net profit for the quarter ended June 30, which fell more than 91% year-on-year to Rs 22.9 crore.

On Tuesday, Omesh Sethi, Ranbaxy’s chief financial officer said that the company’s net profit stood at Rs 266 crore in the same quarter last year, with foreign exchange gains of Rs 201 crore.

In April-June quarter, the compnay’s net profit was little changes at Rs 161 crore against Rs 160 crore in the same period last fiscal, if the one time forex loss was excluded.

Talking about the company’s operating margin, except for forex gain was improved marginally at 16.8% sales in the quarter from 16.4% in the same quarter last year.

Sun Pharma gets USFDA nod for Divalproex Sodium Tablets

India's fourth largest pharmaceutical company in terms of sales, the Dilip Sanghvi-led Sun Pharmaceutical Industries, has informed that U.S. Food and Drug Administration (FDA) has finally approved its first generic version of the divalproex sodium tablets.

These generic versions of divalproex sodium delayed release 125 mg, 250 mg and 500 mg (valproic acid activity) tablets are bio-equivalent to Depakote delayed release tablets distributed by Abbott Laboratories.

The drug used to treat epileptic seizures, manic episodes associated with bipolar disorders, as well as for prophylaxis of migraine headaches.

Lupin acquires Germany-based Hormosan Pharma

Indian pharmaceutical major Lupin Limited has acquired Hormosan Pharma, a German Sales and Marketing firm for an undisclosed amount.
Hormosan, with total sales of Euro 6.8 million for the year ended December 2007, develops, licenses and markets a range of generics in Germany and specializes in the supply of pharmaceutical products for the central nervous system.     

Besides strong key account management the company also has a successful Regulatory team, Pharmacovigilance, Medical Information and Marketing teams.

Lupin has posted a net profit of Rs 112 crore for the quarter ended June 2008, with a 101 per cent increase over Rs 55.9 crore posted during the corresponding previous year quarter.

Marksans Pharma gets nod for Metformin HCL; Stock up 4%

Mumbai-headquartered Marksans Pharma Limited has informed that it has received Certificate of suitability for Metformin Hydrochloride drug substance from the European Directorate for the Quality of Medicines and Healthcare (EDQM).

Marksans Pharma Limited engages in the manufacture and sale of formulations and active pharmaceutical ingredients in India. The company offers its products for various therapeutic areas, including anti-diabetic, cardiovascular, neuroscience, oncology, and anti-infective. The company also exports its products to Japan, Latin America, Bangladesh, Spain, Egypt, Jordan, Iran, Mexico, Germany, and Africa.

Ranbaxy Pharmaceuticals Inc. launches Omeprazole in United States

Ranbaxy Pharmaceuticals Inc. launches Omeprazole in United States
Ranbaxy Pharmaceuticals Inc. (RPI), a wholly owned subsidiary of Ranbaxy Laboratories Limited (RLL), Gurgaon, India, has launched an authorized generic of Omeprazole 40 mg capsules in the United States under an agreement with AstraZeneca Pharmaceuticals.

The drug is indicated for the treatment of acid-related disease, including gastric ulcer and Zollinger-Ellison syndrome.

Omeprazole is the generic name of Prilosec. The most common side effects of Prilosec are headache, diarrhea and abdominal pain.  

Ranbaxy launches Amlodipine tablets in Japan

Onco Therapies signs licensing and supply pact with GSK

Onco Therapies Limited (OTL), the joint venture between Strides Arcolab Limited and South Africa's Aspen Pharmacare Holdings Limited, has informed that it has accomplished a licensing and supply agreement with GlaxoSmithKline (GSK), the world's second largest drugmaker.

The licensing and supply agreement is for 95 emerging markets, excluding Sub-Saharan Africa and India.

Under the deal, OTL will license intellectual property and supply finished dosage form pharmaceuticals to GSK. OTL will recover intellectual property development costs from GSK in addition to sharing profits from the commercialization of the products.

The first of the products is expected to be launched in 2010.

MeadWestvaco, Bilcare buy packaging company

Bilcare and US-based Meadwestvaco Corp have acquired a pharmaceutical company International Labs, Florida.

The amount of deal and terms and conditions of deal are not disclosed by the companies.

International Labs said that the deal will boost up the packaging business across the globe. It is known for contract packaging for retail pharmacies and large drug manufacturers.

Dr. Reddy’s Q1 net profit dips 26%

The net profit of Dr. Reddy’s Laboratories fell down by 26 per cent in Q1 of the exiting fiscal. This fall is noticed due to increase in selling and general and administrative expenses suffered by company for the period of Q1.




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