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Pharma: Why out-license?

Sep 11, 2007

In last week's article, we had brought to the fore the steps taken by domestic pharma companies to hive off R&D into a separate company in a bid to unlock value from the same in the longer term.

Pharma: Hiving off R&D...

Sep 4, 2007

The introduction of the product patent law in the country has compelled domestic pharma companies to increase their focus on R&D - to counter the likely slowdown of reverse engineered products in the future.

Pharma: New product introduction...

Aug 28, 2007

The introduction of the product patent law has led the Indian pharma companies to adopt a host of strategies to augment their revenue streams and sustain the pace of new product launches especially in the domestic market.

Pharma: CRAMS gaining momentum...

Jun 26, 2007

Domestic pharma companies following the CRAMS (custom manufacturing and contract research) model have in the last six months evinced much investor interest with the stock prices of these companies registering stronger gains as compared to the large caps such as Ranbaxy, Dr.Reddy's, Cipla, Sun Pharma and GSK Pharma. In this write-up, we shall take a look at what potential this model holds and the challenges going forward.

Nicholas Piramal: Where to from here?

Jun 8, 2005

Domestic pharma major, Nicholas Piramal announced disappointing FY05 results due to VAT related concerns. In this article, we take a look at how the company has performed over the years and future prospects.

Wockhardt: Europe led 2004

Feb 10, 2005

Domestic pharma company, Wockhardt, recently declared its December quarter as well as full year numbers. In 4QCY04, the company's consolidated revenues clocked a buoyant 21% growth led by strong performance in Europe and rest of the world. Its bottomline growth was equally buoyant at 26% YoY. The company ended the full year with over 31% revenue and nearly 50% bottomline growth.

Pharma sector: Traditional Vs Lifestyle

Jan 5, 2005

Indian pharmaceutical industry is different from the global pharmaceutical industry. While in the global pharma industry, lifestyle segment drugs rule the roost, anti-infectives continue to dominate the domestic market. The reason for the same is higher prevalence of infective diseases as well as lower incident of lifestyle diseases due to social structure. Let's look at the following chart.

Dr Reddy’s: A volatile story

Dec 9, 2004

Dr Reddy’s has been one of the most revered domestic pharmaceutical companies. The reverence for the company is due to its vision to be a research driven company and the company has been valued more than any other in the Indian pharma sector. Dr Reddy’s has been one of the first few companies in the country to enter in NCE (new chemical entity) research and spending a large proportion of its revenue on the same. Despite these positives, the stock of the company has been ‘hammered’ in recent time

Dr Reddy's: Yet another disappointment

Oct 27, 2004

Domestic pharmaceutical major, Dr. Reddy’s, has declared its 2QFY05 results. The topline of the company has grown marginally, owing to poor sales in generics and bulk drug segments. The bottomline of the company is lower by 48% due to very high increase in operational expenses, depreciation and interest outgo.

Cipla: Living upto expectations

Oct 26, 2004

Domestic pharma major, Cipla, declared its 2QFY05 and 1HFY05 results. The topline grew by 29% in the quarter led by a good performance in both formulation exports as well as in the domestic pharma market. The bottomline has grown by 38%, which was basically due to expansion of margins.

Nicholas Piramal: Roche blues for now

Oct 25, 2004

Domestic pharma major, Nicholas Piramal, has declared its 2QFY05 and 1HFY05 results. In the quarter, the topline of the company has grown by 2%, while the net profit increased by 7% led by expansion of operating margin, which stood at 21.9%. In the first half of current financial year, the net profit has increased by 25.1%, while topline is down marginally.

Wockhardt: Sustainability is the key

Oct 21, 2004

Domestic pharma company, Wockhardt, has declared its 3QCY04 and 9mCY04 results. In 3QCY04, the company's topline grew by 11.3% led by decent show of its European operations. The bottomline grew by 13.6%, basically led by expansion of operating margins by nearly 4%.

Pharma: Life styles matter

Sep 6, 2004

Lifestyle drugs have taken the centre stage in the last few years. To put things in perspective, for the first time in 2003, CVS (cardiovascular) drugs overtook anti-ulcerants as the largest therapeutic class worldwide. But India is yet to catch up!

Generics: Long drawn journey!

Aug 18, 2004

US markets have been very lucrative for the Indian pharma companies and many companies such as Ranbaxy and Dr Reddy's capitalized on this opportunity. At the start, these companies entered the US as a supplier of bulk drugs, but with time they started looking at the more profitable generics business. In this article, we try to give you a perspective of what generics is all about and how do companies do generics business.

Cipla vs Peers

Aug 13, 2004

Cipla has seen a lot of activity over the past one month, and the stock has gained about 15% since July 2004. In the same period, the other two pharma giants, Dr Reddy's and Ranbaxy have gained only 3% and 6% respectively. So what has caught the investor's fancy with regard to Cipla? Let's find out.

Nicholas Piramal: Riding high

Jun 15, 2004

Nicholas Piramal is one of the leading domestic pharma companies with strong focus on the domestic market. The company has shown a consistent growth performance in the last few years despite the slowdown in the domestic pharma industry. One thing that makes this growth commendable is that unlike other domestic pharma companies, Nicholas Piramal has huge exposure to the extent of 90% of the company’s net sales, in the domestic pharma industry.

Indian pharma: Where do you go...

May 27, 2004

Indian pharma companies have shown very good growth numbers in last few years. While big guns have made their presence felt in the international business, some smaller companies too have made their space in the Indian pharmaceutical industry. If the current growth pace of pharma companies continues for some more time, we will have a dozen Rs 10 bn companies in about two years’ time.

Biocon: Statins driving growth…

May 24, 2004

India's largest biopharmaceuticals company, Biocon, declared its maiden quarterly and annual results. Since the comparative figures for 4QFY04 are not available, we will focus on the yearly comparison. Total sales of the company has increased by 94% to Rs 5.5 bn while the net profit has risen by 219% to Rs 1.4 bn. Operating profit margin stood at 34% compared to 29%, which is due to better economies of scale. The net profit margin stood at 28% due to lower interest outgo and higher operating mar

Nicholas: A challenging phase

Mar 31, 2004

Nicholas Piramal (NPIL) is one of the leading pharma companies in India with a strong presence in branded formulations markets, focusing on lifestyle drugs. It is one of the companies, which has chosen an inorganic growth path. Its acquisitions include pharmaceuticals business of ICI India, Global Bulk Drugs and Fine Chemicals, Sarabhai Pharmaceuticals. The company recently merged itself with Canere Actives and Fine chemicals.

A dose of Cipla

Mar 17, 2004

Cipla is one of the largest bulk drug and formulations manufacturer in the country. Ranked second in India by ORG in terms of retail pharmaceutical sales, the company has manufacturing facilities at Kurkumbh, Bangalore, Patalganga, Vikhroli (Mumbai) and Verna (Goa). All the bulk drug manufacturing facilities of the company have been approved by the US FDA and the formulation facilities have been approved by the Medicine Control Agency - UK, the Medicine Control Council - South Africa, the Therap


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