World's two biggest drug companies GlaxoSmithKline PLC and Pfizer Inc. will join hands to create a new company exclusively for developing and selling of HIV medicines. Both companies made announcement of the new venture on Thursday. The name of the company will be announced after the finalization of the deal. The new company will be based in London.
Basel - Roche, the Swiss pharmaceutical giant, said it was confident it would meet full year targets after reporting an 8 per cent growth in sales in the first-quarter.
Last month Roche bought for 46.8 billion dollars the remaining 44 per cent stake in the US biotech firm Genentech that it did not already own.
The Swiss company said in July it would set out its plan for the rest of the year to include Genentech, including bringing a head of the US company to the Roche board.
As per estimations by one of its lenders in February 2009, Ranbaxy Laboratories may be sitting on mark-to-market (MTM) losses of more than Rs 25 billion on foreign currency derivatives transactions signed up with a range of banking institutions.
With this lender alone, Ranbaxy is suffering an MTM loss of Rs 6 billion on the derivatives contracts that it signed during April-May 2008.
But, Ranbaxy is not the only company that has been hit by forex derivatives losses. The losses have seen across the segments.
Nirmal Bang has maintained its ‘Buy’ rating on Ranbaxy Laboratories to achieve a target between Rs 225-240 within 1-5 days.
Interested traders can buy the stock on dips with a stop loss of Rs 210.
Shares of the company, on Wednesday (April 15), closed at Rs 199.85 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 613.70 and a low of Rs 133.15 on BSE.
Pfizer Inc., the world's leading research-based pharmaceutical company, announced that it has decided to buy additional 33.77% equity stake in its Indian division in order to increase its holding stake to 75%.
The New York based pharmaceutical major said that it will spend around Rs 6.8 billion on the deal.
The acquirement will be done through Pfizer’s wholly-owned arm, Pfizer Investments Netherlands B.V.
The company seeks to purchase additional stake at Rs 675 per share.
World's two biggest drug companies GlaxoSmithKline PLC and Pfizer Inc. will join hands to create a new company exclusively for developing and selling of HIV medicines. Both companies made announcement of the new venture on Thursday. The name of the company will be announced after the finalization of the deal. The new company will be based in London. 
Basel - Roche, the Swiss pharmaceutical giant, said it was confident it would meet full year targets after reporting an 8 per cent growth in sales in the first-quarter.
As per estimations by one of its lenders in February 2009, Ranbaxy Laboratories may be sitting on mark-to-market (MTM) losses of more than Rs 25 billion on foreign currency derivatives transactions signed up with a range of banking institutions.
Nirmal Bang has maintained its ‘Buy’ rating on Ranbaxy Laboratories to achieve a target between Rs 225-240 within 1-5 days.
The Hyderabad based, Natco Pharma, on Wednesday, announced that it has signed up a deal with pharmaceutical major Dr Reddy's Laboratories.
Pfizer Inc., the world's leading research-based pharmaceutical company, announced that it has decided to buy additional 33.77% equity stake in its Indian division in order to increase its holding stake to 75%. 
