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Teva - 4 Glenmark - 4 Jonathan Kanter - 2 Francis Mascarenhas - 1 Dalal - 1 Aparna Iyer - 1 Raja - 1 Tesla - 1
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☆ Indian shares set for subdued open as Fed angst weighs
  + stars: | 2023-09-22 | by ( Sethuraman N R | ) www.reuters.com   time to read: +2 min
A man walks past the new logo of the Bombay Stock Exchange (BSE) building in Mumbai, India, July 12, 2023. Already, foreign investors have been net sellers so far this month, offloading shares worth $996.2 million as of Sept. 20. Foreign institutional investors (FII) sold shares worth 31.11 billion rupees ($375.2 million), on a net basis, on Wednesday and 30.07 billion rupees worth on Thursday, according to stock exchange data. Domestic investors, meanwhile sold shares worth 5.73 billion rupees on Wednesday but bought shares worth 11.58 billion rupees on Thursday, the data showed. Meanwhile, Indian government bonds will be included in JPMorgan's widely tracked emerging market debt index from June 2024, the Wall Street bank said on Friday.
Persons: Francis Mascarenhas, Dalal, Aparna Iyer, Raja, Tesla, Archishma Iyer, Anisha Ajith, Savio D'Souza Organizations: Bombay Stock Exchange, REUTERS, Rights, NSE, Exchange, BSE, Federal Reserve, Wipro, LG Energy, Exide Industries, Power Systems, Glenmark Pharmaceuticals, Sciences, Glenmark Pharma, Teck Resources, Sethuraman NR, Thomson Locations: Mumbai, India, U.S, Asia, Pacific, Japan, Teck
☆ DOJ orders Teva and Glenmark to pay millions in fines in drug price fixing settlment
  + stars: | 2023-08-21 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDOJ orders Teva and Glenmark to pay millions in fines in drug price fixing settlmentCNBC's Bertha Coombs joins 'Closing Bell Overtime' with breaking news on the DOJ's antitrust agreement involving Teva and Glenmark.
Persons: Teva, Glenmark, Bertha Coombs
☆ Teva to pay $225 million in fines and divest generic drug to resolve price-fixing charges
  + stars: | 2023-08-21 | by ( Annika Kim Constantino | ) www.cnbc.com   time to read: +3 min
Drugmaker Teva Pharmaceuticals agreed to pay $225 million in criminal fines over five years and divest its version of a generic cholesterol drug to resolve charges related to price-fixing on that medication and other widely used treatments, the Department of Justice announced Monday. Teva, in a press release Monday, said it will pay $22.5 million each year from 2024 through 2027, and $135 million in 2028. Glenmark Pharmaceuticals will pay $30 million to resolve similar charges. Since 2020, the DOJ's antitrust division has charged five other pharmaceutical companies for participating in similar schemes affecting several generic drugs. Teva has also agreed to donate $50 million worth of two generic drugs affected by price-fixing to humanitarian organizations that provide medications to Americans in need.
Persons: Drugmaker, Teva, Jonathan Kanter, Glenmark, Apotex Organizations: Drugmaker Teva Pharmaceuticals, Department of Justice, Glenmark Pharmaceuticals, Antitrust Division, DOJ, Eastern District of Pennsylvania, Apotex Corp Locations: Eastern District
☆ Teva to pay $225 million fine and divest cholesterol drug to settle price-fixing charges
  + stars: | 2023-08-21 | by ( Ramishah Maruf | ) edition.cnn.com   time to read: +3 min
New York CNN —Teva Pharmaceuticals agreed to pay more than $200 million in fines and divest a key generic drug treating cholesterol to settle price-fixing charges from the US Department of Justice, the agency announced Monday. The core drug involved and that will be divested to a third party was pravastatin, a widely used cholesterol medication. Teva’s rival Glenmark will also pay a $30 million criminal penalty to be paid in six installments, the company said. In a statement, Teva said it will pay $225 million over the course of five years. As part of the agreement, Teva admitted to participating in the three conspiracies, the DOJ said.
Persons: Glenmark, Sanjeev Krishan, “, Teva, ”, Jonathan Kanter, ” Teva Organizations: New, New York CNN, Teva Pharmaceuticals, US Department of Justice, DOJ, “ Companies Locations: New York
☆ Teva to pay $225 mln, divest cholesterol drug to settle price-fixing charges
  + stars: | 2023-08-21 | by ( ) www.reuters.com   time to read: +2 min
The logo of Teva Pharmaceutical Industries is seen in Tel Aviv, Israel February 19, 2019. REUTERS/Amir Cohen/File Photo Acquire Licensing RightsAug 21 (Reuters) - Teva Pharmaceutical (TEVA.TA) will pay $225 million and divest its copycat version of a cholesterol drug as part of its settlement of price-fixing charges, the U.S. Department of Justice said on Monday. Glenmark will also pay a penalty of $30 million to resolve similar charges, the DOJ said. Teva and Glenmark will have to divest their respective versions of a generic cholesterol drug, pravastatin, that was a core part of the companies' price-fixing conspiracy, the DOJ said. As part of the deals with the DOJ, Glenmark and Teva both admitted to participating in fixing the price of pravastatin.
Persons: Amir Cohen, Teva, Glenmark, Pratik Jain, Shailesh Organizations: Teva Pharmaceutical Industries, REUTERS, Teva Pharmaceutical, U.S . Department of Justice, Prosecutors, Pharmaceuticals, DOJ, Thomson Locations: Tel Aviv, Israel, Bengaluru
☆ India's Glenmark Pharma reports lower Q4 profit as domestic sales weaken
  + stars: | 2023-05-19 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, May 19 (Reuters) - India's Glenmark Pharmaceuticals Ltd (GLEN.NS) reported a 12.3% decline in fourth-quarter profit on Friday, hurt by higher input costs and lower demand in its domestic drugs business. Consolidated profit before exceptional items and tax fell to 3.09 billion rupees ($37.78 million) for the three months ended March 31, from 3.52 billion rupees a year earlier, the cetirizine maker said in a stock exchange filing. Glenmark, which caters to the therapeutic areas such as diabetes, cardiovascular and oral contraceptives, reported a 11.5% rise in quarterly net sales. Input costs for the quarter rose 11% to 8.77 billion rupees from a year earlier. Glenmark Pharma shares had climbed 9.6% in the March quarter, comfortably outperforming the Nifty Pharma index (.NIPHARM) that fell 4.6%.
☆ India's Eris Lifesciences to buy some dermatology brands from Glenmark Pharma
  + stars: | 2023-01-17 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Jan 17 (Reuters) - Indian drugmaker Eris Lifesciences Ltd (ERIS.NS) said on Tuesday it would acquire a portfolio of dermatology brands from Glenmark Pharmaceuticals Ltd (GLEN.NS) for 3.4 billion rupees ($41.63 million) to deepen its presence in the anti-fungal and anti-psoriasis segments. The deal, through Eris' dermatology focused unit, is for the purchase of nine brands, including Onabet, Halobate, Sorvate, and Demelan for India and Nepal, Eris said. Glenmark said, post divestiture of the brands, it will further consolidate its position in the core therapeutic areas of cardiometabolic, respiratory, dermatology, and oncology segments. Separately, Eris on Tuesday reported a consolidated net profit of 1.02 billion rupees in its third quarter, from 1.01 billion rupees a year earlier. ($1 = 81.6740 Indian rupees)Reporting by Yagnoseni Das in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
☆ INDIA STOCKS Indian shares may open higher, tracking Asia
  + stars: | 2022-10-27 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, Oct 27 (Reuters) - Indian shares are poised to open higher on Thursday, tracking strength in Asian markets in the backdrop of growing expectation the U.S. Federal Reserve may tone down its aggressive stance on rate hikes. India's NSE stock futures, listed on the Singapore exchange , were 0.55% higher as of 0159 GMT, while the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), climbed 1.74%. India is the world's third-largest importer and consumer of oil, and a rise in crude prices have a direct impact on inflation. Foreign institutional investors sold a net 2.47 billion Indian rupees ($30.12 million) worth of equities on Tuesday, while domestic investors bought net 8.73 billion rupees worth of shares, as per provisional data available with the National Stock Exchange. ($1 = 82.0040 Indian rupees)Reporting by Rama Venkat in Bengaluru; Editing by Neha AroraOur Standards: The Thomson Reuters Trust Principles.
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