New Delhi, May 5 (IANS) Biocon founder Kiran Mazumdar-Shaw has named her niece Claire Mazumdar as her successor, outlining a formal succession plan for the biopharmaceutical company, according to a report.In an interview with Fortune India, Mazumdar-Shaw (73) said she sees Claire (37) as the right person to lead Biocon, a leading biopharmaceutical firm, into its next phase of growth.“I am the sole owner of Biocon, and I need to make sure that I put it in good hands. I have seen my niece Claire…
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New Delhi, April 27 (IANS) India’s major drugmaker Sun Pharmaceutical Industries on Monday announced that it will acquire New York-listed Organon & Co in an all-cash deal valued at $11.75 billion, its biggest overseas acquisition to date.Under the agreement, the pharmaceutical firm will acquire 100 per cent of Organon’s outstanding shares at $14 per share, translating into an enterprise valuation of $11.75 billion and an equity value of around $3.99 billion, the company said in an exchan…
New Delhi, April 14 (IANS) Prime Minister Narendra Modi on Tuesday said that India’s pharma sector is moving up from the pharmacy of the world to a hub of innovation.Highlighting the country’s growing focus on research-driven growth, PM Modi highlighted India’s transition from a global supplier of affordable medicines to an emerging centre of pharmaceutical innovation.Sharing an article authored by Union Health Minister Jagat Prakash Nadda, he said that India’s pharma sector is steadily …
New Delhi, April 4 (IANS) The government is working to ensure minimal disruption to supply chains amid global uncertainties, while remaining prepared for a potential dip in exports and imports, Commerce Secretary Rajesh Agrawal said on Saturday.Addressing the press conference on the sidelines of a ‘Chintan Shivir’ session in Hyderabad, Agrawal told the media that the initiative aims to bring together government and industry stakeholders to identify challenges and chart a clear roadmap.The offi…
New Delhi, March 4 (IANS) India’s global chemical sector share is set to increase to 5-6 per cent by 2030 and achieve a $1 trillion turnover by 2040, according to the government.According to Union Minister JP Nadda, the budgetary provision of Rs 13,000 crore for Bio-Pharma SHAKTI and three dedicated Chemical Parks in the country is a strategic bet on India’s future.Addressing a post-Budget webinar, the minister said that 40 per cent of medicines globally will be biologics by 2035. About $300…
Guwahati, Feb 11 (IANS) Hailing the Union Budget 2026-27 as historic and futuristic, Union Agriculture Minister Shivraj Singh Chouhan said on Wednesday that Rs 6,812 crore has been allocated to the Ministry of Development of the Northeastern Region (MDoNER), which is Rs 897 crore more than the previous Budget.The Budget will bring positive change to the nation as well as to the Northeastern region, he added.Addressing a press conference here, Chouhan also informed that the Ministry of Agricultur…