Pharmaceutical Sector

P&G Posts Rs 13 Crore Profit, Declares Dividend

Procter & Gamble Hygiene & Health Care LtdMumbai: Procter & Gamble Hygiene & Health Care Ltd declared its net earnings at Rs 12.65 crore for the quarter ended June 30 whilst it made Rs 46.56 crore for the corresponding period last year.

The company’s total income (net of excise) plunged to Rs 129.97 crore for the period under consideration from Rs 155.87 crore for the same period, last year.

In the meantime, the net income for the company for the year ended on June 30 also decreased to Rs 89.82 crore from Rs 139.51 crore last year.

Pharma Industry To Touch $20 Bn By ‘15 - McKinsey Report

Mumbai: The consulting firm McKinsey said in a report that the Indian pharmaceutical market will develop three times to USD 20 billion by 2015 due to growth in medical substructure and augmented access to medical aid.

The Indian pharmaceutical market will arise at a combined yearly rate of 12.3 per cent more than the next few years.

“India Pharma 2015: unlocking the potential of Indian pharmaceutical market,” McKinsey added.

Ranbaxy Gets USFDA Permission To Market Acetaminophen Tabs

Ranbaxy LaboratoriesRanbaxy Laboratories has got sanction from the US Food and Drug Administration (USFDA) to produce and market Hydrocodone Bitartrate and Acetaminophen Tablets USP, 75 mg/750 mg, 10 mg/500 mg, 5 mg/500 mg, and 10 mg/325 mg strengths.

Cipla Will Produce AIDS Drug For Children

CiplaHyderabad: Cipla Ltd will produce the primary three-in-one cocktail anti-AIDS medicine used for children. This accompanies the USFDA clearing a combining quantity of Boehringer Ingelheim’s Viramune, GlaxoSmithKline’s Epivir (or lamivudine) and Bristol-Myers Squibb’s Zerit (or stavudine), which are anti-retrovirals or drugs that fight back AIDS.

The commendation came under the US President’s Emergency Plan for AIDS Relief, or Pepfar, a $15 billion, 5-year plan to clash the threat in over 15 countries.

Alembic Looks Good at the Moment

Alembic Ltd.In afternoon trading, Alembic is quoting at Rs 73.90, up Rs 4.70, or 6.79%. It touched an intraday high of Rs 73.90 and an intraday low of Rs 69.10 during the day.

The trading volume of the scrip stood at 42,722 shares. Yesterday the share ended 5.33% down at Rs 69.20.

The Group's main activity is to produce bulk drugs and pharmaceutical formulations in human and animal healthcare. It produces and sells antibiotic drugs and bactericides, cough and cold remedies, painkiller and anti-inflammatory medicinal drugs, nutraceuticals and anti-diabetics.

Alembic Stock is high on Volumes

Alembic LimitedIn afternoon trading (3:06 pm), Alembic is hovering near Rs 68.80, up Rs 3.10, or 4.72%. During the day, the scrip touched an intraday high of Rs 69.45 and an intraday low of Rs 65.50.

The scrip is trading with volumes of 67,551 shares, as against its five-day average of 31,608 shares

Yesterday the share ended weak after losing 6.08% or Rs 4.25 at Rs 65.70.

FDA Permits Sale Of Ranbaxy's Drug for Diabetes Cure in the US Market

Ohm LaboratoriesMumbai: Ohm Laboratories, Ranbaxy’s US subsidiary has received the US Food and Drug Administration's (FDA) authorization to sell Metformin Hydrochloride tabs that are exclusively intended for curing diabetes.

The Florida-based Ranbaxy Pharmaceuticals, a wholly-owned subsidiary of Ranbaxy Laboratories also said that it received the permission to sell Metformin Hydrochloride pills in various strengths of 500 mg, 850 mg and 1,000 mg in the US market through Ohm Laboratories.

Cadila Healthcare down after news of Spanish Takeover

CadilaCadila Healthcare lost 3.65% to Rs 337 tracking powerless international market, regardless of reports it is near to getting hold of a mid-sized Spanish pharmaceutical company for $30 million.

In the meantime, the BSE Sensex was down 349.87 points to 14,751.23, chasing after fresh setback in worldwide markets. Asian stocks collapsed across the board as credit jitters erupted after France’s largest listed bank BNP Paribas on 9 August, blocked three funds, which invested in US subprime mortgages.

There were 5276 shares of the scrip for trading on the BSE counter, and the average daily volume of the stock stood at 24,996 shares in the last one quarter.

Ranbaxy Laboratories May see 7-8% Upside

Ranbaxy Laboratories LimitedRahul Mohindar of Viratechindia proposed that the investors should hold Ranbaxy Laboratories as it may have a good 7-8% upside.

Sharekhan Research Maintained Buy for Sun Pharma, Target Rs 1287

Sun Pharmaceutical IndustriesSharekhan Research maintained purchase rating on Sun Pharmaceutical Industries with target price of Rs 1287. At current market price Rs 965, stock valued at 21.6x FY2008E and 18.1xFY2009E fully diluted earnings.

Result highlights:

Ranbaxy Lab Leads The Gainers on BSE Sensex

Ranbaxy Laboratories Ltd.Ranbaxy Laboratories leads the gainers path on the Sensex. In morning trades, the share is quoting at Rs 364.40, which is up Rs 23.35, or 6.85%.

It touched an intraday high of Rs 365.50 and an intraday low of Rs 340 during the day.

Today, the scrip is trading with volumes of 523,094 shares. Yesterday the share ended the day on a dreary note after losing 1.02% or Rs 3.50 at Rs 341.05.

Emkay suggests To Buy IPCA Labs, Target Of Rs 820

IPCA LaboratoriesEmkay Research is expecting IPCA Lab and maintained buy rating on stock with a target of Rs 820.

IPCA Laboratories net profit increased to Rs 347.2 million in Q1FY08, by 42%, compared with Rs243.4mn in Q1FY07. Revenues grow by 11% to Rs.2466.1 million. Sequential Q-o-Q basis revenues and PAT increase by 12% and 26%.

Weak Q1 Result Turns Cipla Down

Cipla dippedCipla 4.4% to Rs 192 after declaring a 30% fall in net earnings for the first quarter ended June 30, 2007.

The stock hit an intraday low of Rs 191.70 and an intraday high of Rs 199.85 during the day.

The scrip turned down on high volume of 21.1 lakh shares on the BSE counter.

The company recorded a 30% fall in its net profit to Rs 120 crore in Q1 June 2007 as against in the corresponding period (Q1 June 2006) of the last year.

Cipla Q1 Profit higher by 29.73%

CiplaMumbai: Drug manufacturer Cipla posted a 29.73 percent enhancement in its net earnings at Rs 119.76 crore for the quarter ended June 30 as against Rs 170.43 crore for the same period of the last year.

The company’s total income (net of excise) augmented 4.34 per cent to Rs 920.37 crore for the June quarter against Rs 882.05 crore for the quarter ended June 30, 2006.

At the board meeting, the company’s directors also recommended a dividend of Rs 2 per equity share for the year 2006-2007 amounting to Rs 155.46 crore.

Shares of Cipla last traded at Rs 200.90, down 2.21 per cent on the BSE.

Rising Markets Stimulate Ranbaxy’s Qauterly Income By 118%

Ranbaxy Laboratories Ltd.New Delhi: Actuated by maturation in key emerging markets, India’s leading pharmaceutical company Ranbaxy Laboratories’ net profit for the quarter ended June 30 climbed up 118 percent to Rs 266.2 crore from Rs 122.11 crore in the corresponding period of the last year.

The company’s business in the rising market segments developed 44 per cent in the quarter, adding as much as 54 percent to its worldwide sales.

Biocon Net Climbs Up 62.71% In Jun`07 Qtr

For the quarterBiocon ended June 2007, Biocon exposed a fantastic increase in net profits.

The company experienced a 62.71% growth in earnings during the quarter, which climbed to Rs 448.6 million from Rs 275.7 million for the quarter ended June 2006.

Net sales for the quarter rose 23.78% to Rs 2,274 million compared with Rs 1,837 million in the corresponding quarter, a year ago.

Total income arose 25.09% to Rs 2,315.9 million for the quarter ended June, 2007 as against Rs 1,851.3 million for the corresponding period last year.

USFDA Approves Lupin’s Novel Drug

The USFDALupin Pharmaceuticals has approved Lupin’s Abbreviated New Drug Application (ANDA) for Amlodipine Besylate Tablets, 2.5 mg (base), 5 mg (base) and 10 mg (base). Saleable deliveries of Amlodipine Besylate Tablets will begin soon.

The company’s Amlodipine Besylate Tablets are the AB-rated generic correspondent of Pfizer’s Norvasc’ pills, which is long-acting calcium channel blocker suggested for treating hypertension.

Based on IMS Health sales information, the brand product had annual sales of around USD 2.7 billion for the twelve months ended December 2006,.

Equity Churn Pushes Up Dabur Pharma

Dabur India LimitedIn early trade, Dabur Pharma was trading up 1.51% to Rs 77.50 after 50 lakh shares changed hands in a single block deal at Rs 76 each on NSE.

The block deal of 50 lakh shares comprised 3.19% of Dabur Pharma's equity. The company has the equity capital of Rs 15.67 crore, with 15.97 crore outstanding shares having face values of Rs 1 each.

Torrent Pharma Top Gainer at BSE

Torrent PharmaTorrent Pharma ascended 6.61% to Rs 257.95 and topped gainers in BSE’s ‘A’ group shares. The other gainers in the list were ABB, LIC Housing Finance, Reliance Energy and GMR Infrastructure.
Freshly, Torrent Pharma Ahmedabad based healthcare company had instigated Rimonabant, which is an anti-obesity molecule, for the first time in India under the trade name Rimoslim. The drug aims many cardio-metabolic risk factors that can lead to obesity, type 2 diabetes or dyslipidaemia.

Glenmark Pharmaceuticals Soars High As USFDA Okays New Drug

Glenmark PharmaceuticalsGlenmark Pharmaceuticals climbed up 1.05% to Rs 430.50 after getting final approval from the US Food and Drug Administration for its abbreviated novel drug applications.

The scrip touched an intraday high of Rs 668 and an intraday low of Rs 648.10 during the day. On June 2007, it touched a 52-week high of Rs 735 and a 52-week low of Rs 265.50 on 28 June 2006.

There were over 1.14 lakh shares for trading on the BSE counter. In the last one quarter, the average daily volume in the stock was 2.03 lakh shares. The scrip turned down from Rs 680.60 on 15 June 2007 to Rs 650.70 on 28 June 2007.

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