Pharma

With the government set to present its Interim Budget on February 1, all eyes are on any announcements for the pharma sector.

The company, currently mired in a controversy surrounding the safety of its baby talcum powder, reported overall sales of Rs 5,828 crore ($829 million) in the country for the year, its filing with the Ministry of Corporate Affairs shows.

GSK and Pfizer would combine their consumer health businesses in a joint venture with sales of 9.8 billion pounds ($12.7 billion), 68 per cent-owned by the British company, in an all-equity transaction.

J&J India did not have any immediate comment on the reports of sample seizures by the authorities. On Tuesday, the company said in a statement that the Reuters article, which was published on Friday, "is one-sided, false and inflammatory".

Sun Pharma said its total revenue from operations rose 4.3 per cent to Rs 6,938 crore in the quarter.

Net profit was 266 crore ($36.00 million) in the quarter ended September 30, compared with a profit of Rs 455 crore a year earlier, Lupin said.

Combination drugs are used to improve patients' compliance, as it is easier to get patients to take one drug rather than several.

Analysts said the deal was positive for Aurobindo Pharma, which said it would make the company the second largest generic player in the US by number of prescriptions. Aurobindo Pharma shares closed 9 per cent higher on Thursday. On Friday, the shares were set to close higher for a third session in a row. At the day's highest level, the shares have registered gains of more than 20 per cent.

Aurobindo Pharma share price jumped more than 6 per cent in intraday trade with large volumes after the announcement. Aurobindo Pharma said it will acquire the dermatology and oral solids businesses from Sandoz Inc, USA, a unit of Swiss pharmaceutical company Novartis. Aurobindo Pharma said the deal worth $900 million was expected to close in 2019.

Novartis AG said on Thursday it would sell the dermatology and generic US oral solids portfolios of Sandoz US to Aurobindo Pharma Ltd for $900 million, as the Swiss drug maker looks to focus on higher growth areas. The deal also includes about 300 products and additional development projects of Sandoz and an additional $100 million in performance-based payments, Novartis said.

Sanctions imposed by international regulatory bodies and warnings over quality control at production sites have hurt sales in the United States where Indian pharmaceutical firms accounted for a third of the drugs sold.

Analysts on average had expected a net profit of Rs 298 crore, according to estimates compiled by Thomson Reuters.

The US FDA conducted inspection at Sun Pharmaceutical Industries' facility in Halol from February 12 to February 23.

According to pharma industry experts, standard of the drugs is the only concern for the market.

Fortis Healthcare Ltd's board on Tuesday approved demerger of the company's hospitals business into Manipal Hospital Enterprises Pvt Ltd, creating the largest provider of healthcare services in India by revenue. The Fortis Healthcare board of directors also gave nod to sale of a 20 per cent stake in SRL, its diagnostics arm, for Rs 720 crore. As part of the deal, for every 100 Fortis shares held, a shareholder will receive 10.83 shares in Manipal Hospitals. The combined company will be called Manipal Hospitals and will be listed on stock exchanges BSE and NSE, Fortis said. The businesses remaining with Fortis Healthcare will be an investment holding company with 36.6 per cent stake in SRL, the Gurgaon-based company said. The deal is is expected to be completed in approximately twelve months, it added.