Ranbaxy has introduced blockbuster drug Valacyclovir hydrochloride
on November 25, which may net around $200 million in revenues
during the six-month exclusivity period, as well as prop its bottomline from the fourth quarter this year itself.
The molecule represents its first major first-to-file (FTF) opportunity since the Daiichi acquisition, and its problems with US Food and Drug Administration last year. Ranbaxy’s generic Valtrex launch is on track, and comes even before GSK’s patent on the drug expires on December 23 this year.
The company holds a 180-day market exclusivity on the generic version of Valtrex, which was accorded after Ranbaxy and the innovator GSK reached a settlement in 2007. Also, it is the only generic company to market Valtrex, an anti-viral for herpes infection, during the period. (A Para IV FTF opportunity for a company ensures 180-day exclusivity in the market)
Analysts expect that the company may mop up around $200 million in sales during the six-month period, considering that there may be price erosion once the generic is launched in the market. Total market sales for Valacyclovir tablets stood at $2.2 billion (IMS MAT September, 2009).
Sources said that USFDA approval for the molecule has been granted to Ranbaxy’s US subsidiary Ranbaxy Pharmaceuticals for the product to be manufactured at Ohm Laboratories. Earlier the company had applied for approval from its domestic facility (possibly Dewas) which is facing an import ban from the FDA.
Recently Ranbaxy’s CEO and managing director Atul Sobti had told TOI in an interview that the company will protect and monetise its FTF opportunity.
When contacted a Ranbaxy offical said: “Ranbaxy Pharmaceuticals has introduced Valacyclovir Hydrochloride, 500mg and 1g tablets, having previously been granted US FDA approval for these oral dosage forms. RPI being the first to file and to successfully challenge the Valacyclovir patents, is the first generic pharmaceutical manufacturer entitled to offer an affordable alternative to the brand, Valtrex tablets by GlaxoSmithKline”.
With the launch, the company may beat its guidance of reporting a huge loss of around Rs 700 crore for the year, analysts said. For the nine-month period ended September 30, the company has already mopped a small profit of $10 million.
Friday, November 27, 2009
Wednesday, November 25, 2009
How ideologues manipulated masses is unparalleled
The single-minded agenda of the RSS and VHP; and the extremely patient and focused manner in which the handful of ideologues and theologians manipulated the masses and turned them into a frenzied mob, capable of acts of the gravest depravity, is unparalleled.
It is established that the events of and leading up to the 6th of December in the birthplace of the virtuous Lord Ram were tainted by a joint conspiratorial enterprise... Lured by the prospect of power or wealth, a rank of leaders emerged within the BJP, RSS, VHP, Shiv Sena, Bajrang Dal, etc who were neither guided by any ideology nor imbued with any dogma nor restrained by any moral trepidation. These leaders saw the Ayodhya issue as their road to success and sped down this highway mindless of the casualties they scattered about. These leaders were the executioners wielding the sword handed to them by the ideologues.
The role played the chief minister and ministers of Uttar Pradesh and by individuals and organizations in connection with the destruction of the RJBM structure.
The BJP’s claim that it was carrying out the people’s mandate makes it inexplicable why it had to resort to subterfuge in order to effect the destruction of the disputed structure... Kalyan Singh, his ministers and his handpicked bureaucrats created manmade and cataclysmic circumstances which could result in no consequences other than the demolition of the disputed structure and broadened the cleavage between the religious communities resulting in massacres all over the country...The parallel government run by the RSS has also been exposed and analysed in my report. ... Paramhans Ramchander Das, Ashok Singhal, Vinay Katiyar, Vishnu Hari Dalmia, Vamdes, KS Sudarshan, H V Sheshadri, Lalji Tandon, Kalraj Mishra, Govindacharya and others named in my report formed this complete cartel led by Kalyan Singh and supported by the icons of the movement like Advani, Joshi and Vajpayee.
It is established that the events of and leading up to the 6th of December in the birthplace of the virtuous Lord Ram were tainted by a joint conspiratorial enterprise... Lured by the prospect of power or wealth, a rank of leaders emerged within the BJP, RSS, VHP, Shiv Sena, Bajrang Dal, etc who were neither guided by any ideology nor imbued with any dogma nor restrained by any moral trepidation. These leaders saw the Ayodhya issue as their road to success and sped down this highway mindless of the casualties they scattered about. These leaders were the executioners wielding the sword handed to them by the ideologues.
The role played the chief minister and ministers of Uttar Pradesh and by individuals and organizations in connection with the destruction of the RJBM structure.
The BJP’s claim that it was carrying out the people’s mandate makes it inexplicable why it had to resort to subterfuge in order to effect the destruction of the disputed structure... Kalyan Singh, his ministers and his handpicked bureaucrats created manmade and cataclysmic circumstances which could result in no consequences other than the demolition of the disputed structure and broadened the cleavage between the religious communities resulting in massacres all over the country...The parallel government run by the RSS has also been exposed and analysed in my report. ... Paramhans Ramchander Das, Ashok Singhal, Vinay Katiyar, Vishnu Hari Dalmia, Vamdes, KS Sudarshan, H V Sheshadri, Lalji Tandon, Kalraj Mishra, Govindacharya and others named in my report formed this complete cartel led by Kalyan Singh and supported by the icons of the movement like Advani, Joshi and Vajpayee.
Saturday, November 21, 2009
Airtel reduces roaming rates by 60%
Industry analysts feel the cut by the largest mobile service provider will put further pressure on its peers. The tariff war may now spill onto the SMS space as well as other areas like data plans, postpaid schemes, corporate plans and international roaming.
On Friday, Airtel said when a customer, who is on national roaming, makes an STD call to another Airtel number, the charge will be just 60 paise per minute, compared to Rs 1.50 earlier - a cut of 60%. Likewise, while roaming, all incoming calls will now be charged at 60 paise, down 40% from Re 1. The same rate will apply to calls to local Airtel numbers while roaming, but customers will be charged at 80 paise for each call, local as well as STD, to any other network. “Recent research has shown that customers need benefits while travelling and are not satisfied with just local calling benefits”, Bharti Airtel president (Mobile Services) Atul Bindal said in a statement.
In the last few months, most telecom providers, led by Tata DoCoMo and Reliance Communications, have cut roaming rates.
For example, Tata DoCoMo charges 2 paise per second on national roaming, while for RCom it is a flat 50 paise per minute. However, Vodafone Essar, another major player in the sector, is still to cut roaming rates.
About two months after Tata DoCoMo's 1 paise/second plan was launched and the telecom firm started clocking record number of new customers each month, most of its peers responded by offering attractive plans to retain their customers and also to attract new ones. But at the same time, sector analysts have been turning negative on the prospects of the listed telecom firms and investors have been selling these stocks.
A research report by foreign broking house Macquarie noted that the recent tariff action in the telecom sector was mainly concentrated in the prepaid voice space, but it expects further negative risks to telecom companies from tariff cuts in SMS, data plans, postpaid and corporate plans and international roaming.
On Friday, Airtel said when a customer, who is on national roaming, makes an STD call to another Airtel number, the charge will be just 60 paise per minute, compared to Rs 1.50 earlier - a cut of 60%. Likewise, while roaming, all incoming calls will now be charged at 60 paise, down 40% from Re 1. The same rate will apply to calls to local Airtel numbers while roaming, but customers will be charged at 80 paise for each call, local as well as STD, to any other network. “Recent research has shown that customers need benefits while travelling and are not satisfied with just local calling benefits”, Bharti Airtel president (Mobile Services) Atul Bindal said in a statement.
In the last few months, most telecom providers, led by Tata DoCoMo and Reliance Communications, have cut roaming rates.
For example, Tata DoCoMo charges 2 paise per second on national roaming, while for RCom it is a flat 50 paise per minute. However, Vodafone Essar, another major player in the sector, is still to cut roaming rates.
About two months after Tata DoCoMo's 1 paise/second plan was launched and the telecom firm started clocking record number of new customers each month, most of its peers responded by offering attractive plans to retain their customers and also to attract new ones. But at the same time, sector analysts have been turning negative on the prospects of the listed telecom firms and investors have been selling these stocks.
A research report by foreign broking house Macquarie noted that the recent tariff action in the telecom sector was mainly concentrated in the prepaid voice space, but it expects further negative risks to telecom companies from tariff cuts in SMS, data plans, postpaid and corporate plans and international roaming.
Friday, November 20, 2009
Sensex falls 22 points on weak global cues
Weak global cues and negative FII activity weighed on market sentiment.
The BSE barometer was quoted lower at 16,763.34 at 1015 hours, down 22.31 points or 0.13 per cent from its last close.
The broader 50-share Nifty of the National Stock Exchange also dropped by 10.50 points or 0.21 per cent to 4,978.50 at 1015 hours from its previous close.
Key stocks such as DLF were down 1.86 per cent, ICICI Bank 1.54 per cent, Reliance Infra 1.52 per cent and SBI 1.16 per cent in early trade.
The BSE barometer was quoted lower at 16,763.34 at 1015 hours, down 22.31 points or 0.13 per cent from its last close.
The broader 50-share Nifty of the National Stock Exchange also dropped by 10.50 points or 0.21 per cent to 4,978.50 at 1015 hours from its previous close.
Key stocks such as DLF were down 1.86 per cent, ICICI Bank 1.54 per cent, Reliance Infra 1.52 per cent and SBI 1.16 per cent in early trade.
Wednesday, November 18, 2009
Yellow metal sizzles to Rs 17k
Over the last one year the yellow metal has risen a whopping 42% in the Mumbai market, rising from about Rs 12,000 level a year ago to its Tuesday close at Rs 17,015. One of the main reasons for the gold's rally is the weakness of the US dollar against other currencies. Interestingly, the BSE sensex is also hovering around the 17K mark now. "There are four main factors that drive gold prices globally and at present three are leading the rally," said Jayant Manglik, president, Religare Commodities. "We expect the current rally to continue for some time. But for the strength of the rupee, by now it could have crossed the Rs 18,000 mark also," Manglik added. For one, globally gold is denominated and traded in US dollar. So any weakness of the dollar against other major currencies like Euro, British Pound and Japanese Yen, makes gold cheaper for people holding those other currencies. Secondly, gold is considered a good hedge against inflation. There are lot of people who believe the current easy money policies of most central banks would lead to inflationary situations. So these people are also betting on gold. The third factor is the low rate of interest in major economies. Since a low interest rate lead to low return if money is kept in the banks, a number of investors, looking for higher returns, prefer to invest in gold. The last major factor that drive gold prices is higher security threat, like war. But currently this factor is not influencing gold prices while the other three are having a combined effect in driving gold prices to newer peaks, market players said.
Tuesday, November 17, 2009
Essar buys Warid's operation
The combined enterprise value of Warid Telecom Uganda and Warid Telecom Congo is estimated to be $318 million.
According to sources close to the development, the Essar group has acquired 51% equity for about $160 million. Essar investment in Warid Telecom in Africa is part of its strategic plans to grow its businesses in Africa.
The agreements to this effect were on Sunday signed by Sheikh Nahyan Mabarak Al Nahyan on behalf of the Dhabi group and Prashant Ruia, group chief executive, Essar group, in Abu Dhabi.
The Essar Group has committed growth capital to both telecom operations to facilitate network expansion and marketing, a joint statement from Dhabi group and Essar group said. "Upon completion, the Essar group will acquire a majority stake in both the assets. The partnership is also expected to bring operational efficiencies to the African operations", it said.
Commenting on the development Sheikh Nahayan Mabarak Al Nahayan, chairman of Dhabi group, said, "We are pleased to join hands with a group that both complements and extends our synergies to expand further into Africa."
"Warid has expanded its greenfield operations to become credible competitors and challengers in the market where it operates; the time is now right for the next stage of its growth and evolution", Nahayan added.
Ruia said, "This transaction with the Dhabi group augments our successful launch of telecom services in Kenya under the brand 'yu' which was a stepping stone for Essar to expand its telecom footprint to the African continent." This deal is a reflection of Essar's plans to increase its presence in the Middle East and Africa regions as it explores business opportunities.
According to sources close to the development, the Essar group has acquired 51% equity for about $160 million. Essar investment in Warid Telecom in Africa is part of its strategic plans to grow its businesses in Africa.
The agreements to this effect were on Sunday signed by Sheikh Nahyan Mabarak Al Nahyan on behalf of the Dhabi group and Prashant Ruia, group chief executive, Essar group, in Abu Dhabi.
The Essar Group has committed growth capital to both telecom operations to facilitate network expansion and marketing, a joint statement from Dhabi group and Essar group said. "Upon completion, the Essar group will acquire a majority stake in both the assets. The partnership is also expected to bring operational efficiencies to the African operations", it said.
Commenting on the development Sheikh Nahayan Mabarak Al Nahayan, chairman of Dhabi group, said, "We are pleased to join hands with a group that both complements and extends our synergies to expand further into Africa."
"Warid has expanded its greenfield operations to become credible competitors and challengers in the market where it operates; the time is now right for the next stage of its growth and evolution", Nahayan added.
Ruia said, "This transaction with the Dhabi group augments our successful launch of telecom services in Kenya under the brand 'yu' which was a stepping stone for Essar to expand its telecom footprint to the African continent." This deal is a reflection of Essar's plans to increase its presence in the Middle East and Africa regions as it explores business opportunities.
Monday, November 16, 2009
Satyam scam: SFIO to begin prosecution this month
The government on Monday said the Serious Fraud Investigation Office (SFIO) will begin prosecution into the Satyam scam this month.
He said the agency is "dutifully and diligently" pursuing what it is supposed to do in the Satyam case.
The SFIO, an arm of the corporate affairs ministry, had investigated the multi-crore rupee Satyam accounting fraud and submitted its reports to the government detailing violations of company law by founder chairman B Ramalinga Raju and others.
The investigating agency will initiate proceedings on about 30 charges, mostly under the Companies Act of 1956, while the Central Bureau of Investigation (CBI) will be acting on five or six charges involving criminal offences under the penal code, sources said.
The corporate affairs ministry had asked the SFIO to initiate prosecution in the Satyam case after obtaining opinion of the solicitor general, sources said.
"During this month, the SFIO will begin the prosecution on those or those areas of company laws that the SFIO is expected to and have been authorised to proceed with," corporate affairs minister Salman Khurshid told a press conference here.
He said the agency is "dutifully and diligently" pursuing what it is supposed to do in the Satyam case.
The SFIO, an arm of the corporate affairs ministry, had investigated the multi-crore rupee Satyam accounting fraud and submitted its reports to the government detailing violations of company law by founder chairman B Ramalinga Raju and others.
The investigating agency will initiate proceedings on about 30 charges, mostly under the Companies Act of 1956, while the Central Bureau of Investigation (CBI) will be acting on five or six charges involving criminal offences under the penal code, sources said.
The corporate affairs ministry had asked the SFIO to initiate prosecution in the Satyam case after obtaining opinion of the solicitor general, sources said.
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