Chennai-based drug manufacturer Orchid Chemicals & Pharmaceuticals has announced that Life Insurance Corporation of India (LIC) has acquired an additional 2.3 per cent stake in the company.

Venus Remedies has announced that the company has received approval from the Drug Controller General of India to launch Cephalosporin, used in the treatment of Cystic Fibrosis.

Shasun Chemicals & Drugs Ltd has signed up a non-exclusive licensing contract with Merck & Co Inc.

The world’s biggest pharmaceutical company Pfizer has rolled out its anti-smoking drug Champix, which lessens nicotine craving as well as the pleasure of smoking.

Having global sales of around $1 billion, Champix is priced at Rs 9500 for a 12- week treatment regime by Pfizer.

At first, the company is launching Champix in 17 cities at a lower price than the US and the European markets. The 12-week Champix prescription course will cost just Rs 9,500..