Fortis-Wockhardt : The deed is done

So after months of wrangling and 'will he won't he'  Habil Khorakiwala has sold off his prized possessions. Wockhardt Hospitals will soon divest 10 hospitals to Fortis Healthcare for Rs 909 crore, which works out to a valuation of 8.5 times FY09-010 estimate EBITDA and 1.9 times estimated revenues. While it still retains some hospitals, …

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Waiting to exhale

Nycomed's PDE4 inhibitor Daxas has been licenced by Forest Labs for the US. This comes just a few weeks after Nycomed approached the US FDA for approval to market the COPD or Smoker's Lung drug. Forest will pay a $100mn upfront fee. Nycomed also stands to make an additional $5oomn based on regulatory approvals and commercial milestones from …

Guest post : DIL offloads stake in research arm to Evotec

DIL is selling a 70% stake in its contract research subsidiary to a European company Evotec AG, headquartered in Germany. DIL was earlier known as Duphar Interfran and it changed its name after its pharmaceutical business was hived off to Solvay. Of its consolidated turnover of Rs 70 crore in 2008-09, bulk drugs/chemicals contributed to …

Roche’s rebuttal

Roche is attempting to distance itself from international criticism of recent Indian drug patent judgements and links being drawn between that and investment by foreign drug makers into India. A comment piece in the Wall Street Journal said that judgements in recent patent disputes "suggest the country has a long way to go before property rights are truly …