Indian drugmaker Dr. Reddy’s has reported an impressive 88 per cent rise in net profits in the thrd quarter of the year till December 2011 backed by high sales of schizophrenia drug Olanzapine in the US.

The company said that its net profit rose to Rs 513 crore in the third quarter of financial year compared to Rs 273.2 crore in the same quarter of the previous fiscal. The company revenue of the company was recorded at at Rs

Glenmark Pharmaceuticals has recorded a fall of 46.7 per cent in the quarter till December 2011 manly due to the foreign exchange losses.

The Pharmaceutical company recorded a consolidated net profit of Rs 46.11 crore in the quarter compared to Rs. 86.52 crore in the same quarter of the previous year. The company said that it lost as much as Rs. 102 crore on dollar denominated loans due to the fall in the value of the rupee.

The US Department of Justice has filed a consent decree in the district court of Maryland for the Indian pharmaceutical major, Ranbaxy aiming to resolve the four-year long investigation by the US Food and Drug Administration (FDA).

The consent decree required the company to make fundamental changes to its plants in India and in the US for complying with the standards in the US. The US Justice Department filed the consent decree in court yesterday requiring the Indian firm to comply with US manufacturing standards and ensure integrity of data in its plants in India as well as the US.

The shares of Indian pharmaceutical major, Ranbaxy fell about 7 per cent following the filing of a consent decree in a US court, which required the company to make fundamental changes to its plants in India and in the US.

The US Justice Department filed the consent decree in court yesterday requiring the Indian firm to comply with US manufacturing standards and ensure integrity of data in its plants in India as well as the US.

Washington, Jan 26 : US drug regulators have sought a "groundbreaking" injunction against Ranbaxy Laboratories to force the Indian drug major to correct long-standing violations at four of its manufacturing facilities.

The court-sanctioned agreement affects three of Ranbaxy's factories in India and its wholly owned subsidiary Ohm Laboratories in Gloversville, New York. The Department of Justice filed the decree on behalf of the Food and Drug Administration.

Strides Arcolab has said that it has sold its 94 per cent stake in Ascent Pharmahealth, a company subsidiary to U. S.-based Watson Pharmaceuticals.

Ascent Pharmahealth is one of the leading five generic pharmaceutical companies in Australia and also has a presence across Southeast Asia.

Watson Pharmaceuticals also acquired the remaining 6 per cent stake from Dennis Bastas, CEO of Ascent. The deal values Ascent at $392.5 million. Watson is aiming at restructuring and giving a new focus to Ascent.

Company Started its operation with just five psychiatry brands in the year 1983. Company has emerged as one of the leading pharmaceutical companies in India, and one of the largest Indian companies in the US generic market. In India Company is the largest specialty prescription company. In the US, it offers a comprehensive portfolio of generics including controlled substances and dermatologicals. Sun Pharma has presence in 40 other markets. In the US, Company has built a strong pipeline of generics, directly and through its subsidiaries Caraco and Sun Pharmaceutical Inc.

Government policy and regulatory changes were the focus point for the pharmaceutical industry in India in the year 2011.

The government actively intervened in business and sought more control in various activities from acquisition to pricing controls. While some changes were opposed others were implemented as the companies in the sector continued their business.

Indian pharmaceutical major, Ranbaxy Laboratories has signed a consent decree with the US Food and Drugs Administration [FDA] in order to make it possible to sell drugs produced at its plans in India, which are facing a fan in the US.

Ranbaxy has said in a filing to the stock exchanges that it is setting aside $500 million in a provision to meet the possible expense in the case involving investigation by the US Department of Justice.

Indian pharmaceutical major, Ranbaxy Laboratories Ltd has said in a filing to the stock exchanges that it is setting aside $500 million in a provision to meet the possible expense in the case involving investigation by the US Department of Justice.

"The company intends to make a provision of $500 million in connection with the investigation by the US Department of Justice, which the company believes will be sufficient to resolve all potential civil and criminal liability," the filing read.

India pharmaceutical major, Ranbaxy Laboratories Ltd has received the approval from the US Food and Drug Administration to launch the generic version of drug Lipitor in the US market.

India pharmaceutical major, Ranbaxy might see a delay in its launch of generic Lipitor drug as it is yet to get an approval from the US Food and Drugs Administration [FDA] to launch the product in the US market.

The US patent of Pfizer for the `Lipitor' medicine has expired today. Ranbaxy and Watson Pharmaceuticals are the only two firms licensed to sell the product in the next six months. Watson is expected to launch the product this week but Ranbaxy might see a delay as it does not have necessary approval.

The central government is keen on increasing export of pharmaceutical products to neighboring China as the country appears to be ready to allow Indian generics makers to enter the country.

The government has constituted a sub- committee headed by the Joint Secretary, Ministry of Commerce, Mr. J. S. Deepak to put forth plans to boost export of pharmaceutical products to China, according to Dr P V Appaji, executive director of the Pharmaceutical Export Promotion Council (Pharmexcil).

Divi’s Laboratories Limited was established in the year 1990 with Research & Development as its prime fundamental activities. Divis Laboratories focused on developing new processes for the production of Active Pharma Ingredients (APIs) & Intermediates. The company expanded its activities to provide complete solutions provider to the domestic Indian pharmaceutical industry. The company established its first manufacturing facility in 1995. The plant was built on a 500 acre site at Hyderabad (Unit-I) comprises of 13 multi-purpose production blocks.

Dr Reddy's Laboratories has announced that the strike at its manufacturing unit in Srikakulam, Andhra Pradesh by contract-based workers has ended and operations have resumed.

The workers were striking for various demands since August 12. The production in the unit was affected after the company reduced the number of contract workers to 85. The contract workers did not accept a wage agreement on November and continued their strike at the unit of the pharmaceutical major.

German chemicals and pharmaceuticals company, Bayer Group has said that it is aiming to double its revenues in India to $1 billion in the next four years.

The company has seen good business in businesses of crop protection and hybrid seeds and expects to generate more revenues in the segment. Bayer India focuses on crop science (pesticides and seeds), healthcare and material science sectors in the country at present.

Glenmark Pharmaceuticals Ltd has reported a fall of 36 per cent in its net profit in the second quarter of the year.

The fall in profit was mainly due to a one-time royalty-related payment and mark-to-market (MTM) requirements on some foreign currency denominated loans. It had to make a one time payment to of Rs. 131.68 crore during the quarter to exercise purchase option in an agreement with US-based venture fund firm Paul Capital Partners' Royalty Fund.

India's top drug maker by sales, Ranbaxy Laboratories has reported a loss of Rs464-crore in the second quarter of the financial year primarily due to huge losses incurred in the foreign exchange market.

The company lost Rs 651 crore during the quarter to foreign currency fluctuations. The profitability took a hit due to mark-to-market (MTM) requirements for long dated derivative transactions and foreign currency denominated loans.

GlaxoSmithKline Pharmaceuticals Ltd has reported a fall of 7.6 per cent in net profit at Rs 145.86 crore in the second quarter of the year compared to Rs 157 crore a year ago.

The sales of the Indian firm of the Indian unit of British drug maker grew 4.47 per cent to Rs 607.56 crore even as net sales of the company’s pharmaceutical business grew
6.5% during the quarter.

Cadila is an innovative global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare products. The group’s operations range from API to formulations, animal health products and cosmeceuticals. Headquartered in the city of Ahmedabad in India, the group has global operations in four continents spread across USA, Europe, Japan, Brazil, South Africa and 25 other emerging markets. In its mission to create healthier communities globally, Zydus Cadila delivers wide ranging healthcare solutions and value to its customers.