Govt approves 4 FDI proposals, rejects 4
The Dollar Business Bureau The government has approved four Foreign Direct Investment (FDI) proposals, based on the recommendations of Foreign Investment Promotion Board (FIPB). Apart from this, the Board has deferred eight proposals and rejected four. “Based on the recommendations of FIPB in its 241st meeting held on October 27, 2016, the Central Government has approved four FDI proposals, said an official statement on Thursday. The proposal of BMJ Group India Pvt Ltd, for carrying on the business of printing, publishing and circulating or otherwise dealing in scientific and technical magazines/ specialty journals/periodicals and other publications, but not in any manner dealing with news and current affairs, has been approved. The Board has also cleared the Rs.44.41 crore worth FDI proposal of Oxford University Press for setting ...
US DoJ summons Sun Pharma over generic drug prices
The Dollar Business Bureau India’s largest drug maker, Sun Pharma, received summons over pricing and marketing of generic drugs from the US Department of Justice on Saturday. The subpoena surfaced amidst the probe initiated by US regulators into the matter of price rise of generic drugs over the past few years. However, the pharma major stated that the move will not affect the company adversely. The antitrust division of the court had asked the US arm of Sun Pharma to submit documents disclosing its employee and corporate records and communication with its competitors. Besides Sun Pharma, Dr. Reddy’s Lab, Allegran Plc also received summons from the US regulators in the past seeking pricing details. However, the details of the products involved were not disclosed. ...
Venezuelan crisis hits Dr. Reddys profits, shares
The Dollar Business Bureau India’s leading drug manufacturer, Dr. Reddy’s Laboratories is gearing up for a path full of challenges in the US market. Dr. Reddy’s was denied drug approvals by the USFDA, citing underperformance on various parameters. The pharma major’s Q4 results showed the underperformance on various parameters and the challenges faced by the company. After a warning issued by USFDA regarding non-adherence to the standard manufacturing process and quality, Dr. Reddy’s is mulling plans to bring 3 plants back to India. The firm is due to send its response on measures taken to reach the expected standards to the USFDA by May. The US based plants contribute 12% of the total earnings of the firm. The firm which dominates the Indian market ...
Seetharam Reddy assumes charge as the Jt. Director of DGFT Vijayawada
Jayarama Emani | The Dollar Business As reported in The Dollar Business on February 27, 2015 (https://in.thedollarbusiness.com/news/seetharam-reddy-likely-to-be-the-new-joint-director-of-dgft-vijayawada/15134), G Seetharam Reddy, assumed charge as the Joint Director of DGFT (Directorate General of Foreign Trade), Vijayawada. Reddy participated in a panel discussion on “An overview of Foreign Trade Policy 2015-20 – Its impact on Pharma Sector,” here in Hyderabad on April 15, 2015. The event was organised by the Pharmaceuticals Export Promotion Council of India (Pharmexcil). Speaking exclusively to The Dollar Business, Reddy said, “It is good to be back in the home State after 13 years and that too being away from DGFT for the last five years.” The Joint Director who belongs to the Indian Trade Services (ITS) Batch ...
