PM chaired a high level meeting to discuss the FDI policy in drugs and pharmaceutical sector. The meeting was attended by Finance Minister, Sh Pranab Mukherji, Health Minister Sh Ghulam Nabi Azad, Commerce, Industry and Textile Minister Sh Anand Sharma, Pharmaceutical and Chemical Minister Sh MK Alagiri, Deputy Chairman Planning Commission Dr Montek Singh Ahulwalia,

Par Pharmaceutical Companies, Inc. (PRX) announced Tuesday that it entered into a definitive agreement to acquire privately-held Edict Pharmaceuticals, an India-based developer and manufacturer of generic pharmaceuticals, for up to $37.6 million in cash and Par’s repayment of certain additional pre-close indebtedness. The transaction is expected to be accretive in 2013.
Edict Pharmaceuticals is a Chennai,

The Economic Times of India Wednesday reported that GlaxoSmithKline Biologicals is keen on acquiring India’s Biological E Limited’s vaccine division. GlaxoSmithKline Biologicals is a Belgium based division of global drug giant Glaxo. The Hyderabad based Biological E Limited’s vaccine division produces and markets a range of pediatric and adult vaccines.
Biological E Limited is a biopharmaceutical

SOHM, Inc., a generic pharmaceutical manufacturer that produces and markets generic drugs covering all major treatment categories, announced Thursday that it has signed a Letter Of Intent (LOI) to acquire a high-growth dermatology company based in India.
Upon the successful close of the acquisition, which is expected in the second quarter of fiscal year 2011, the

Publicis Groupe is to acquire a majority stake in Watermelon Healthcare Communications Private Limited, a leading healthcare advertising agency in Mumbai, India. Post the stake acquisition, Watermelon will become part of Publicis Healthcare Communications Group (PHCG) and will be renamed Publicis Life Brands Watermelon. This transaction is subject to customary local closing conditions.
Watermelon is a

Cx Partners reported it had invested around Rs 188 crore in Thyrocare Technologies for the acquisition of a 30 per cent stake. Cx Partners, the private equity firm, will acquire the stake in the medical diagnostics firm, valuing Thyrocare Technologies Ltd at Rs 627 Crore. According to the firm, the funds to be accrued from

Jordanian firm Hikma Pharmaceuticals is to buy 30 per cent stake in Indian API manufacturer Unimark Remedies Ltd. Unimark Remedies Ltd is based in Mumbai, and the deal is pegged at about Rs 150 Crore. That subsequently places the value of the Indian firm at about Rs 500 Crore. Hikma is a branded generic company

Drug manufacturer, Aventis Pharma Ltd’s subsidiary Sanofi-Aventis is exiting its joint venture vaccine making firm Chiron Behring Vaccines Pvt Ltd (CVBPL), by selling its 49% stake to its nominee partner Novartis Pharma AG for $22.399 million, around Rs.101.1 Cr.
Aventis Pharma will sell its stake to Novartis Pharma AG, a nominee of joint venture partner Novartis

India based drug firm Abbot India announced that its board of directors had approved a proposal seeking to merge the firm with Solvay Pharma. The proposal is a 2:3 share swap ratio. In a filling to the Bombay Stock Exchange, Abbot reiterated the swap merger would be under 2:3 ratio, and every two share(s) of

US firm Cambrex Corporation Wednesday announced it had bought a 51 per cent stake in India pharmaceuticals firm Zenara Pharma. Zenara Pharma is a Hyderabad based pharmaceutical company focused on the formulation of final dosage form products. The acquired entity will now be renamed Cambrex Zenara and the investment is expected to position Cambrex as