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Journalism of Courage
8 pharma cos form alliance
MUMBAI: EIGHT major research oriented national pharmaceutical companies having almost 70 per cent of total market capitalisation among national pharma firms have decided to come together and form an association to be known as Indian Pharmaceutical Alliance IPA. These include Alembic, Cipla, Dr Reddy8217;s, Lupin, Nicholas Piramal, Ranbaxy, Sun Pharma and Wockhardt. The IPA is aimed at partnering the government in the evolution of a patent regime that will, on the one hand, meet the TRIPS obligations and on the other engaged with the government in constructive dialogue to move to price management from price control regime.
Lupin hires McKinsey for revamp
MUMBAI: LUPIN Laboratories Ltd has hired McKinsey amp; Co to suggest a comprehensive revamp of its entire operations. The company is also looking at the acquisition route in the US and Europe. 8220;We have given the mandate to recommend management, operational, product, financial and research and development Ramp;Drestructuring in the company to McKinsey. We expect the report to be submitted by March 2000,8221; Lupin group chairman Desh Bandhu Gupta said. The company expects a net profit of Rs 50 crore in the first-half of the current fiscal as compared to Rs 24 crore recorded in the entire previous fiscal.
Hindustan Zinc favours domestic IPO
NEW DELHI: MINIRATNA public sector Hindustan Zinc Ltd today favoured a domestic public issue instead of roping in a strategic partner for divestment of the government stake in the company.
quot;We have informed the government that the company would prefer a domestic public issue to strategic sale for divesting 25 per cent government stake,quot; HZL chairman and managing director K V K Seshavataram told reporters here today. The disinvestment commission had recommended divestment of 25 per cent stake.
