Searle-RPG marketing pact

MUMBAI, Jan 11: Pharmaceutical company GD Searle of US, a subsidiary of Monsanto, has renewed its name, technology and trademark agreemen...

MUMBAI, Jan 11: Pharmaceutical company GD Searle of US, a subsidiary of Monsanto, has renewed its name, technology and trademark agreement with the RPG group, ending months of speculation over the future of Searle (India), the RPG group-controlled pharma and agrichemicals company. Monsanto had last year announced a global merger with American Home Products, which later fell through, raising doubts over whether the arrangement with GD Searle would be renewed. The GD Searle products contributed nearly 20 per cent to RPG group company’s turnover of Rs 223.7 crore in 1997-98.

The present agreement enables the RPG group to use Searle name till December 31, 1999, with a provision for extension till December 31, 2003, with the consent of GD Searle.

he technology and trademark licence agreement has also been extended by another 50 years, till May 31, 2048. This means that Searle (India) will continue to market and manufacture Aldactide and Aldactone for treatment of hypertension, Norpace for cardiac arrythmia,lomofen Lomotil and Probanthine for diarrhoea and gastro intestinal disorders, Serebanthine and Serenace for CNS disorders, and Peditral for lectrolyte replacement therapy. The RPG group’s arrangement with GD Searle was inked in 1993, valid till May 1998 and extended till Dec `98. The group had earlier planned, on completion of the agreement, to set up a separate companyRPG Life Sciencesfor all the non-GD Searle brands, and forge a separate marketing joint venture with GD Searle. However, an announcement by Monsanto and American Home Products last year that the merger had put a spanner in the RPG group’s works as AHP has an established company in India.

A court in Antwerp passed the order initiating the formal process of bringing Choksi back to India. But, he still has options to challenge the order passed by the lower court.

Belgian court clears fugitive jeweller Mehul Choksi’s extradition to India

India45 min ago

Mehul Choksi, a fugitive diamantaire wanted in India for a Rs 13,000 crore loan fraud case, has been cleared for extradition by a court in Antwerp, Belgium. The Indian government has assured that Choksi will be held in a specific jail complex and provided with basic amenities if extradited. Choksi's extradition proceedings have advanced in Belgium and he has the option to challenge the order.

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