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May 24, 2013
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| Wockhardt takes steps to address USFDA concerns
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| India Infoline News Service/18:46,May 24, 2013 |
| The impact of the import alert on the revenues is estimated to be in the range of $100m on an annualised basis.
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| J.B. Chemicals FY13 operating revenues up 19% |
| India Infoline News Service/18:22,May 24, 2013 |
| The company has performed well during the last financial year in both revenue growth and profits growth. |
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| AstraZeneca promoters to sell 3.75mn shares via OFS on May 28h |
| India Infoline News Service/18:00,May 24, 2013 |
| on May 28, 2013, exclusively through the Seller's brokers on the separate windows provided by the BSE Ltd & NSE Ltd (the "Stock Exchanges") for this purpose. |
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| India Infoline Weekly Newsletter - May 24, 2013 |
| India Infoline News Service/16:30,May 24, 2013 |
| On the domestic front, economic activity has been moderating as factory output continues to lose momentum and services growth decelerates. Domestic consumption, which was a bright spot, is fast fading. But on a positive note, with inflation trending lower, the Reserve Bank may be able to cut policy rates at its June 17 meet.
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| Maha govt sees LBT implementation delayed in Mumbai |
| India Infoline News Service/14:54,May 24, 2013 |
| Traders fear the imposition of local body tax will result in harassment by local officials and increase in corruption |
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| Taro Pharma net sales up 14% |
| India Infoline News Service/12:13,May 24, 2013 |
| Operating income decreased to $63.1 million, or 38.2% of net sales, compared to $66.2 million, or 45.6% of net sales; however, excluding settlements and loss contingencies, operating income would have been $85.1 million, or 51.6% of net sales
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| Victoria court approves Dental Corp deal proposal |
| India Infoline News Service/12:08,May 24, 2013 |
| Fortis Healthcare Ltd has announced that the Supreme Court of Victoria on May 24, 2013 approved the Scheme of Arrangement for Bupa Australia Health Pty Ltd (“Bupa”) to complete its full acquisition of Dental Corporation Holdings Limited |
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| Moody's downgrades Mercy Hospital's bond rating to A3 |
| India Infoline News Service/10:39,May 24, 2013 |
| The outlook is revised to stable from negative at the lower rating level. |
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| ChrysCapital to acquire 10% stake in CavinKare
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| India Infoline News Service/10:30,May 24, 2013 |
| Report said that a deal to this effect has just been signed with the company.
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| Wockhardt market cap down Rs.16.4 bn since Thursday |
| India Infoline News Service/09:51,May 24, 2013 |
| The pharma major is down 16.5% Friday and is currently trading at Rs. 1097.85 down by Rs. 212. Total volume traded at the counter stood at 9.25 lakhs. |
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| After Ranbaxy...Wockhardt under scanner |
| India Infoline News Service/08:55,May 24, 2013 |
| Habil Khorakiwala, chairman, Wockhardt, reported that the company was expecting a loss of up to $100 mn in annualised revenue, owing to the import alert.
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May 23, 2013
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| ‘Daiichi Sankyo allegations false, kept in loop on USFDA’ |
| India Infoline News Service/20:44,May 23, 2013 |
| "At every step of the way during the negotiation process, Daiichi Sankyo and its representatives were made aware of the on-going US FDA and DOJ investigations," says Singh family |
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| Ranbaxy to invest $300mn to improve quality control |
| India Infoline News Service/18:04,May 23, 2013 |
| In a face saving act pharma giant Ranbaxy announced plans to invest $300 mn after settling a case for $500 mn over violation of drug safety norms which sparked a similar investigation in India recently. |
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| Daiichi Sankyo to drag former Ranbaxy promoters to court |
| India Infoline News Service/17:49,May 23, 2013 |
| Reports said owner of Ranbaxy, Daiichi Sankyo is weighing legal options to sue former promoters –Singh brothers for ‘reputational damage’ and to recover $500mn penalty it paid to settle case against the pharma company in US |
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| Jyothy Laboratories Q4 net profit at Rs120mn |
| India Infoline News Service/17:48,May 23, 2013 |
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EBIDTA for the year stood at Rs. 124 crore compared to Rs. 83 crore while the EBIDTA margin stood at 12%.
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| Pharmaceuticals Newsletter - 17 May to 23 May, 2013 |
| India Infoline News Service/17:09,May 23, 2013 |
| Sun Pharmaceutical Industries Ltd has announced that the High Court of Gujarat at Ahmedabad and High Court of Mumbai, at their respective hearing held both on May 03, 2013 approved the Scheme of Arrangement between Sun Pharmaceutical Industries Limited (SPIL) and Sun Pharma Laboratories Ltd (SPLL) in the nature of Spin-Off and transfer of Domestic Formulation Business/Undertaking of SPIL to SPLL with effect from the appointed date of March 31, 2012. |
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| Wockhardt hits lower circuit on US FDA import alert |
| India Infoline News Service/14:16,May 23, 2013 |
| Wockhardt's nosedived after the company received US FDA import alert on Aurangabad facility. Wockhardt will announce its FY13 results on May 27, 2013. |
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| Govt. to act on new EU drug import norms |
| India Infoline News Service/12:42,May 23, 2013 |
| The stated objective of this Directive is to lay down a community code relating to medicinal products for human use and to ensure that the defective products do not reach consumers. |
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| Add Divi’s Labs, target Rs. 1101/sh: IIFL Inst Eq |
| India Infoline News Service/10:30,May 23, 2013 |
| The brokerage expects margins to improve as growth picks up in FY15 |
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| Ranbaxy may slash global sales team: report |
| India Infoline News Service/08:14,May 23, 2013 |
| According to reports, a majority of the job cuts would be in the US. |
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