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Latest From Penelope MacRae
Religare Enterprises, led by Indian tycoons Malvinder and Shivinder Singh who are locked in a bitter arbitration battle with Daiichi Sankyo, has sold off its health insurance unit as it seeks to pare debt and focus on core financial services, in a move the brothers’ lawyers say is designed to raise capital.
India’s Hilleman Laboratories, in partnership with a government agency, expects to start human trials this year with a pioneering multivalent vaccine to prevent shigellosis, a highly contagious bacterial diarrheal disease that is a major killer of children in low-income countries but has proven a difficult vaccine target.
US revenues of Indian pharmaceutical companies have slowed sharply amid a blitz of regulatory inspections and consolidation of the US purchasing chain -- but the news is not all bad: balance sheets are solid, margins are healthy and longer-term prospects look positive, says leading Indian investment rating agency ICRA.
The ongoing fight by Daiichi Sankyo for compensation from India’s Singh brothers over the company’s disastrous purchase of generic drugs giant Ranbaxy has heated up, with the Japanese firm now accusing the tycoons of not telling the truth about the value of assets meant to serve as security for damages.
India’s Health Minister says a new national health care roadmap marks a “huge milestone” towards fixing the country’s failing medical delivery system. But critics say while the scheme is a step in the right direction, it largely recycles old, unmet goals from years ago and caution that implementation will be key.
India’s Glenmark sees the US FDA clearance of its Phase II plan for a novel formulation for COPD as a milestone in its quest to transform into a more innovation-led company and position itself for future growth.