Stocks in News
Bull's Eye
Jaiprakash Power Venture Ltd. : Jaiprakash
Associates, is raising Rs 1500 crore through a qualified
institutional placement (QIP). The company is likely to dilute
around 10% stake by the end of this fiscal to raise the fund.
JPVL, which was a wholly-owned subsidiary of Jaiprakash
Associates, merged into another listed firm of the group,
Jaiprakash Hydro Power.
Impact on Bull : Positive
Dr Reddy’s Laboratories plans to get a pie of the $4 billion
market of generic Nexium are likely to be cut short by the
patent holder of the drug AstraZeneca. Several pharma
companies have been trying to take on AstraZeneca for finding
ground in the market. With the patent on the drug slated for
expiry in 2014, AstraZeneca, too, has been working on
strategies to check the competition from Dr Reddy’s by
settling the patent challenge out of court. AstraZeneca has
already settled disputes with another Indian pharma major
Ranbaxy and the world’s biggest generic company Teva. For
the nine months ended September 2009, AstraZeneca has
about $3.7 billion revenue from Nexium. As part of the
settlements with Ranbaxy and Teva, AstraZeneca has
guaranteed a right to sell the drug ahead of anyone else at the
time of the patent expiry. In the case of Ranbaxy, AstraZeneca
has guaranteed a six-month exclusive sale much before the
market is opened for other generic firms.
Impact on Bull : Positive
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