Malvinder Singh steps down as CEO of Ranbaxy Laboratories
Ranbaxy Laboratories has announced that their chairman and CEO Malvinder Singh has stepped down from both positions.
With this, Singh has now ended his association with the country’s largest medicine company.
It would now allow the new parent of Ranbaxy to take complete control of the company. [...]
Ranbaxy investing $20 million in Terapia Ranbaxy
Indian drug company Ranbaxy has announced their decision to invest more than $20 million in its Romanian subsidiary, Terapia Ranbaxy.
They aim to use the funds to expand their subsidiary based in Europe to become their hub for Europe and Commonwealth of Independent States countries.
Ramesh Adige, executive director Ranbaxy said [...]
Zydus Cadila acquires Nippon Universal Pharmaceutical
Cadila Healthcare has announced that they are acquiring Tokyo based Nippon Universal Pharmaceutical. The financial aspects of this deal have not been revealed to the media.
The deal would help Cadila Healthcare gain an entry into the Japanese generics space. They are acquiring 100 per cent stake in the privately-held company. [...]
Pfizer announce job cuts for around 10,000 workers
Pfizer Inc. has announced that they are cutting 10,000 jobs to cut costs amidst fierce competition in the global market.
The company also has plans to close at least five facilities as they aim to slash its annual costs by up to $2 billion by the end of next [...]
Pfizer might cut jobs as part of overhauling structure of the company
The Wall Street Journal has reported that the drug company Pfizer is preparing a plan to overhaul the company. And these plans might include job cuts.
The company could cut several thousand jobs. They might even go ahead and change the way they develop and [...]
Reliance Life Sciences investing in GeneMedix Plc.
Mukesh Ambani’s Reliance Life Sciences has announced their decision to invest in UK bio-pharmaceutical company GeneMedix Plc.
The company is planning to invest as much as $63.2 million to get controlling interest of 74% of the enlarged share capital of GeneMedix.
This investment proposal has not yet received the approval [...]
Pfizer to cut jobs at their US operations
One of the largest medicine companies in the world Pfizer has said that they would be cutting around 20% of their US based workforce.
These job cuts would be part of the company’s comprehensive cost-cutting program and would affect around 2200 workers in the company.
Pfizer is due to present [...]
Merck KGaA acquires Europe’s biggest biotech firm Serono
Merck KGaA has revealed their decision to acquire biotech firm Serono. The deal is worth around a massive $13.3 billion and it has somewhat shocked the market analysts.
The company had recently failed in their acquisition attempt to take over rival Schering. Now, they have struck a deal with [...]
Tata Industries picks up a stake in Indigene Pharmaceuticals
Tata Industries Ltd has reportedly purchased a 26-30% stake in US-based Indigene Pharmaceuticals. Indigene is expanding fast and has operations in Boston, Europe and India.
The company focuses on developing and delivering molecular combination-based products for global prenoscription and consumer healthcare markets.
Ratan N Tata, chairman, TIL spoke [...]
Schering-Plough Corp. to cut 1,100 jobs at its plants in Puerto Rico and New Jersey
Drug maker Schering-Plough Corp. has said in a statement that they are planning to cut as many as 1,100 jobs at its plants in Puerto Rico and New Jersey.
This would see them reducing their global workforce by around 3.3%. The [...]
