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Australia - Strides
takes majority stake in Genepharm
Source: The
Economic Times, 9 February 2008
Indian drug maker Strides Arcolab has merged its
Australian and Asian businesses with Genepharm Australasia and would
control 55% in the combined entity in a cash-cum-stock deal worth
A$80 million (US$72 million). Once the transaction is complete, the
combined entity would account for business of A$100 million (US$90
million) and would rank in the top 10 generic pharma players in the
region.
Genepharm distributes a wide range of pharmaceutical and
over-the-counter products in Australia where it has a 11% market
share. For the year to June 2007, the company posted revenue of A$55
million (US$50 million) and operating profit of A$5 million (US$4.5
million).
India - Pharma industry
seeks R&D tax benefit from budget
Source: The
Economic Times, 7 February 2008
The Indian pharmaceutical industry has
called on the Government to extend the tax benefits available for
R&D to pharmaceutical companies by five more years. Tax benefits
under Sec 81 AB expired in March 2007.
The R&D expenditure of pharmaceutical
industry has gone up considerably. After the patent law, Indian
pharmaceutical industry has started investing substantially in
R&D. Without tax exemption, the domestic pharmaceutical industry
would have to incur huge expenditure. An extension till FY13 would
help the industry in long-term planning and research to face
competition.
Thailand - Lion Corp to
make over-the-counter drugs in Thailand
Source:
Thai News Service, 13 February 2008
Lion Corp, the Japanese-based manufacturer
of personal-care and household products, has unveiled plans to make
functional foods and over-the-counter (OTC) drugs in Thailand. The
plan would be carried out within the next year by setting up a new
manufacturing plant and using existing production facilities owned
by the Saha Group. Lion (Thailand) was set up jointly by the Saha
Group and Lion Japan in 1969.
Lion now ranks third in the Japanese market
for OTC drugs. Its products include Bufferin aspirin for pain and
fever as well as functional-food products under the Kenbisoken
umbrella brand, which offer benefits like sound sleep, fatigue
relief and skin elasticity.
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This Weekly News Update is a free newsletter,
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Fusion Consulting is a
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