Drug maker, Ranbaxy Laboratories registered worst ever performance for the quarter ended September 30, 2008. The company suffered a loss of Rs 394.5 crore for the reporting quarter.

It had made a profit of Rs 207 crore in the corresponding quarter last year. Ranbaxy is already acquired by Japanese major Daiichi Sankyo. It is facing tough time in the US and US food department had already banned entry of its 30 drugs.  

Maneesh Pharmaceuticals Ltd, one of the leading pharmaceutical company, has joined hand with Disney Consumer Products (DCP) to market its Smyle range of baby care products under the Disney Baby brand. 

Mumbai-headquartered firm has entered into an exclusive licensing pact with DCP to develop, manufacture and market entire Disney Baby care range of products for South Asia and India. 

Maneesh Pharmaceuticals will enter the niche market of baby care products under its marketing division of Svizera Health Remedies, primarily cater to personal care needs of infants. The firm will market Disney Baby care product range which includes Baby Massage Oil, Soap, Bath, Shampoo, Talc Powder, Lotion and Wet Wipes.

Glenmark Pharmaceuticals has decided to quit clinical trails for its experimental Osteoarthritis molecule development. 

Further, its partner Eli Lilly has also suspended further clinical development for GRC 6211, used in Osteoarthritis pain. The Glenmark deal with Eli Lily on GRC6211 was potentially worth USD350 million.

Last October, Glenmark had agreed to sell the marketing rights for its experimental pain treatment molecule to Eli Lilly for an upfront fee of 45 million dollar. 

London - British pharmaceuticals concern GlaxoSmithKline reported Wednesday that it managed to boost profits and sales in the third quarter despite the challenge posed by generic drugs.

GlaxoSmithKline said it earned 25.2 pence per share in the quarter, up from 23.7 pence in the corresponding period last year. Sales gained 7 per cent to 5.88 billion pounds.

The company said the weaker pound sterling had helped boost sales, in turn lessening the effects of the challenge posed by cheaper generic drugs.