Market regulator Securities and Exchange Board of India (SEBI) has rejected to execute the stake sale of the Ranbaxy-Daiichi deal.

Earlier, the Indian company had asked both NSE, BSE for approving the deal via stock exchange. 

The NSE had sought SEBI's nod for the block deal given CCEA requirements. SEBI had already made it clear that it would not relax the norms on block deals.

Drug manufacturer, Wockhardt has got final nod from the US Food and Drug Administration (USFDA) to sell Risperidone drug.

The source close to the company said that the proposed medicine will be available in 0.25 mg, 0.5 mg, 1 mg, 2 mg, 3 mg and 4 mg respectively.

Risperidone is used in Psychiatric Medicine to treat cases of Schizophrenia, a form of relatively permanent disorder of the mind.

Aurobindo Pharma has also received sanction for the same drug.

Drug manufacturer Ipca Laboratories Ltd has informed that the company has linked up with US based Heritage Pharmaceuticals Inc. with the aim to make and sell Propranolol HCI Oral tablets, used for cardiovascular treatment. 

Under the alliance, Ipca has got sanction from U.S. Food and Drugs Administration (USFDA) to manufacture and market the drug in 10, 20, 40, 60 and 80 mg strength in the US market.

According to the sources, the drug will be manufactured by Ipca and its sale will be carried by Heritage in the U.S. market. 

India Pharmaceutical major Wockhardt Limited has signed an in-licensing pact with UK-based Sinclair Pharma, to market a range of dermatology and dental products in Indian market. 

The 10-year exclusivity agreement covers a broad range of patented and innovative products, including Papulex, Atopiclair, Aloclair and Decapinol range. 

Further, the agreement also envisages that Wockhardt manufacture the formulation in India from bulk imported from Sinclair Pharma. 

Biocon Ltd, India's leading biotechnology enterprise has notified that NeoBiocon and Abraxis BioScience have launched Arbaxan (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) in the UAE market for the treatment of breast cancer.

NeoBiocon is a joint venture between Dr. B R Shetty, MD & CEO of Abu Dhabi based Company Neopharma and Kiran Mazumdar-Shaw, Chairman & MD of India's biotechnology major Biocon Ltd. 

India-based Matrix Laboratories, a subsidiary of US-based Mylan Inc, has signed an agreement with Aspen Pharmacare Holdings Ltd of South Africa to sell 50 percent stake in Fine Chemicals Corporation (Proprietary) Limited (FCC) of South Africa in favour of Aspen.

While in turn, Aspen would sell its 50% stake in India's Astrix Laboratories Ltd to Matrix. However, Aspen will retain a shareholding in Astrix through a B-share.