Ranbaxy crawls up on tie-up to sell product in Canada

Ranbaxy Laboratories rose 0.81% to Rs 427.30, after its Canadian unit and Janssen-Ortho entered into an agreement for generic fentanly patch. As many as 1.74 lakh shares were traded on the BSE

The scrip advanced in the past amid bouts of volatility. It rose from Rs 320.40 on 17 July 2006, to Rs 412.25, by 20 September 2006, as buying continued.

At the current market price of Rs 427.30, Ranbaxy Laboratories trades at 55.49 times its Q2 June 2006 annualized consolidated EPS of Rs 7.70.

Ranbaxy Laboratories's Canadian unit, Ranbaxy Pharmaceuticals (RPCI), and Janssen-Ortho (JOI) have entered into a licensing and supply agreement for a generic fentanyl patch. It is sold as Ran Fentanyl Transdermal System and is used to treat severe pain. This is the second product to be commercialized by RPCI as part of a licensing arrangement between the companies. The market for generic fentanyl patch is expected to reach Canadian $ 50 million.

As per reports, the company's plan to acquire Russian generic drug maker Akrikhin fell on account of differences over valuation. Ranbaxy Laboratories has been eagerly awaiting a chance to enter the $ 5 billion Russian market.

Last month, Ranbaxy's Malaysian unit launched its first generic version of Atorvastatin, as 'Storvas' in Malaysia. The product introduced will be available through all major GPs (General Practitioners), pharmacies and hospitals in Malaysia.

Ranbaxy Laboratories had received approval from the US FDA to manufacture and market Furosemide tablets. According to US FDA, Ranbaxy formulations is a bio-equivalent, and has the same therapeutic effect as that of the reference-listed drug, Lasix tablets, of Aventis Pharmaceuticals. Total annual market sales for Furosemide tablets was $ 70 million.

Recently, Ranbaxy had launched its branded product, Avessa (Formoterol + Fluticasone) inhalation capsules in India, for treating of asthma.

Earlier last month, a Norwegian court ruled in favour of Ranbaxy Laboratories in a case against Pfizer, involving two patents on Atorvastatin, a cholesterol-lowering drug, marketed by Pfizer as Lipitor.

It also launched Soliten (Solifenacin) in India for managing chronic urological disorder. The product is being introduced for the first time in India. Soliten will be sold as 5 mg and 10 mg tablets.

Ranbaxy Labs plans to sell a manufacturing facility in Ireland in order to consolidate its Romanian operations. In June, Ranbaxy acquired Romania's Terapia S.A. for $ 324 million, to boost its presence in the fast-growing CIS markets.

Ranbaxy had received tentative approval from the US FDA for risperidone oral solution, used to treat schizophrenia, whose total annual sales touch $ 66 million. Further, the company had signed a deal in July with Canada-based Janssen-Ortho to supply generic Risperidone tablets in the North American nation.

In early July, Ranbaxy Laboratories received approval from the US Food and Drug Administration to manufacture and market Cefprozil oral suspension, 125 mg/5ml and 250 mg/5ml. The total annual market sales for Cefprozil are estimated at $93 million.

Faced with tough pricing pressure in the US, Ranbaxy has turned to Europe. It purchased Romania's Terapia for $324 million earlier this year, followed by Belgium's Ethimed NV, GlaxoSmithKline's Italian and Spanish generic business, and the rights and assets of Senetek Plc's autoinjector device. Europe is the largest generics market in the world after the US.

In mid-July Nihon Pharmaceutical Industry (NPI), a joint venture of Ranbaxy Laboratories and Nippon Chemiphar, launched the generic versions of Clarithromycin as well as Terbinafine tablets in Japan. Clarithromycin is an anti-biotic and Terbinafine an anti-fungal with market sizes of around $400 million and $300 million respectively, in Japan.

In early June, Ranbaxy Laboratories struck a strategic partnership with US-based Invagen Pharmaceuticals to market Zonisamide capsules in the US.

Ranbaxy Laboratories registered a consolidated net profit growth of 20%, to Rs 121.10 crore (Rs 101.30 crore) for Q2 June 2006. Net sales during the period rose 9%, to Rs 1,433.90 crore (Rs 1,317.70 crore).

Souce: capitalmarket

Alchemist mulls bonus issue, soars

Alchemist climbed 5% to Rs 52.75, after its board decided to meet on 16 October 2006, to consider an issue of bonus shares. As many as 16.16 lakh shares were traded on the BSE.

The stock, after showing a spectacular rise between August-September, has remained range-bound thereafter. From Rs 30 on 7 August, it rallied steadily to Rs 49.50 by 7 September. Thereafter, the stock remained range-bound, moving between Rs 46 and Rs 48. The stock closed at Rs 50.25, on 5 October 2006.

At the current market price of Rs 52.75, Alchemist trades at 18 times its Q1 June 2006 annualized EPS of Rs 2.92.

Earlier in September, Alchemist board approved an amalgamation of Kaiser Hospital, with the company. Located at Panchkula, Chandigarh, Kaiser Hospital is a a 200-bed capacity multi-specialty hospital with modern technology and infrastructure.

Last year, the company de-merged its steel division, IT division and international business division manufacturing wire mesh, IT related activities and import-export. The newly independent company established will be called Alchemist Steel.

Alchemist manufactures world class wire-meshes and wire fabrics in more than 100 grades.

Alchemist had registered a net profit growth of 2.30% to Rs 4.46 crore (Rs 4.36 crore) for Q1 June 2006. Net sales decreased 8.40%, to Rs 71.95 crore (Rs 78.52 crore).

Jhantla Investments Board approves Bonus Issue

Jhantla Investments Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 03, 2006, has decided to issue 3,00,000 equity shares of Rs l0/- each at par on preferential basis to the various parties from whom the proposal have been received. Decided further to issue Bonus Shares in the ratio of 1:1 subject to approval of members.

Resolved Further that there are no trading activities since last many years in the equity shares of the company in Delhi Stock Exchange and none of the share holders at present are residing at Delhi, it is decided to delist the securities of the company from Delhi Stock Exchange.

Further the Company has informed that an Extra Ordinary General Meeting of the members company will be held on November 04, 2006 to get the approval on the above issue.

Hazoor Media Board approves bonus issue

Hazoor Media & Power Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 04, 2006, inter alia, has considered and approved the following:

1. Allotment of 7,90,000 Equity shares of Rs 4/- each fully paid up consequent to exercise for conversion of 7,90,000 Share Warrants into equity Shares.

2. Recommended Issue of bonus shares in the ratio of 1:1 (One Equity Share of Rs 4/- each fully paid up for every one Equity share of Rs 4/- each held in the Company). The record date for issue of bonus shares shall be decided after obtaining consent of the members of the Company.

3. Notice convening the Extra Ordinary General Meeting.