Top Pharma News of the day

JPMorgan will bankroll Lupin for its $880 million acquisition of Gavis, a New Jersey-based generic drug firm

Jul 27, 2015 12:07 IST India Infoline News Service

The Indian medical device industry has a potential to grow from current $4.4 billion to $7 billion by 2016, a premier US-India business body has said as it called for a dialogue with the government to address issues of ease of doing business. (ET)

JPMorgan will bankroll Lupin for its $880 million acquisition of Gavis, a New Jersey-based generic drug firm. (ET)

European Commission, executive body of the European Union (EU), has accepted the European Medicines Agency (EMA)’s recommendation for an EU-wide ban on 700-odd drugs that underwent bio-equivalence studies at Hyderabad-based GVK Bio Sciences’ facility.(BS)

Israeli drug maker Teva Pharmaceutical Industries Ltd. is in talks to combine with Allergan PLC’s big generic-drug business, in a move that would further consolidation in the health-care industry and likely mean the end of Teva’s pursuit of another acquisition. A deal, valued at about $45 billion, for the Allergan business could be announced as early as Monday, according to people familiar with the matter. The Allergan unit would be spun off and combined with Teva—already the world’s biggest seller of generic medicines with a market value of $60 billion. (WSJ)

The government is reviewing the Drug (Prices Control) Order, 2013, to sort out implementation issues and make it more efficient -- both for consumers and the industry. (ET)

Alivira Animal Health, a joint venture of Sequent Scientific and Shasun Pharmaceuticals, is set to buy the veterinary business of Mumbai-based Lyka Labs. (ET)

Billionaire Dilip Shanghvi controlled Sun Pharmaceutical Industries, which issued a profit warning last week, may tap the global debt market to raise as much as $1 billion by selling offshore bonds. (ET)

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