Sun Profit Dives On Ranbaxy Merger Costs
This article was originally published in PharmAsia News
Sun Pharmaceutical Industries, India’s biggest drug maker by sales, has reported a 30% drop in quarterly net profit from a year earlier, undershooting analysts’ expectations for a third straight trimester and reflecting in part the costs of digesting its merger with Ranbaxy.
You may also be interested in...
For the last few years, Indian generic companies have been making headlines for all the wrong reasons, rapped by the US Food and Drug Administration over problems ranging from fudged test results to poor-quality manufacturing standards. But lately, the firms have been enjoying a run of good regulatory tidings, giving a fillip to their share prices.
Asia’s biggest biotech company, India’s Biocon Ltd, has announced it will conduct what it says is the first-ever clinical trial of a siRNA therapy in India with US partner Quark, is aimed at tackling a rare eye condition.
Prime Minister Narendra Modi’s government has decided to "comprehensively review" India's antiquated drug legislation to take into account the latest medical developments and improve safety, amid complaints about poor-quality manufacturing and products.