NEWS REVIEW – BUSINESS
[This article was published in the November 2007 issue of the eHEALTH Magazine (https://www.ehealthonline.org)]
News Review
[This article was published in the November 2007 issue of the eHEALTH Magazine (https://www.ehealthonline.org)]
News Review
Private Equity (PE) investments in the domestic healthcare and pharma industry have touched around $400 million during the first nine months of the year. This trend is set to accelerate as companies go for overseas acquisitions, hive off their R&D units, and Foreign Currency Convertible Bonds (FCCB) lose their sheen.
Indian drug maker Wockhardt recently acquired US-based speciality drugs company Morton Grove Pharmaceuticals, which has annual sales of $52 million.
Thermo Fisher Scientific Inc. , the world leader in serving science, today announced it has broken ground on a new USD 17 million facility in Ahmadabad, India, to support growing demand for biopharma services in that country.
Pharmaceuticals major Ranbaxy Laboratories plans to make China its major sourcing hub for active pharmaceutical ingredient (API).
The World Bank has declared two India-based firms, Nestor Pharmaceuticals Ltd. (Nestor) and Pure Pharma Ltd. (Pure Pharma), ineligible to be awarded Bank-financed contracts.