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Finland Court prohibits Ranbaxy from marketing generic version of

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					  2 CORPORATE                                                                                                                                                                                                   THE HINDU BUSINESS LINE            ●   Thursday, February 23, 2006



                                                                         Novartis sets up
  Dunlop’s Ambattur                                                      OTC research
                                                                         centre at Thane
                                                                                                             Finland Court prohibits Ranbaxy from
  unit wage pact to be                                                   Our Bureau
                                                                                                             marketing generic version of Lipitor
  signed in a week                                                       Mumbai, Feb. 22

                                                                         SWISS drug-major Novartis
                                                                         has set up a global research        Our Bureau                                                                                                                                     drug, Lipitor. While the Indian
                                                                         centre at Thane to support its      New Delhi, Feb. 22
                                                                                                                                                   ●   Analysts tracking the Lipitor developments said that following the UK and US                         pharma company has appealed
  To have separate                                                       over-the-counter (OTC) pipe-
                                                                                                                                                       setbacks for Ranbaxy, the Finland Court’s ruling has been on expected lines.                         against these rulings, this has
                                                                                                                                                       “It will be very difficult for Ranbaxy to launch Lipitor early, especially in a big
  productivity norm                                                      line in markets such as the US
                                                                         and Europe.
                                                                                                             THE NEW-YORK based Pfizer
                                                                                                             Inc has said that the Helsinki            market,” said an analyst.
                                                                                                                                                                                                                                                            delayed an early launch of
                                                                                                                                                                                                                                                            atorvastatin in that market.
                                                                            Under the aegis of its whol-     Court of Appeal in Finland has                                                                                                                    The total revenue from this
  Pratim Ranjan Bose                said.                                ly-owned subsidiary Novartis        granted a preliminary injunc-                                                                                                                  blockbuster drug stood at $12.5
  Kolkata. Feb. 22                     On the management side,           Consumer Health Inc (NCH),          tion against Ranbaxy Labora-                                                                                                                   billion in 2005 and is expected
                                    a core team of seven heads           the facility has already hired      tories, prohibiting the latter      preme Court, will remain in         medical innovators who invest       in several countries in Europe     to cross $13 billion this year.
  THE much awaited wage             of operations, projects, mar-        35 personnel, company offi-          from marketing a generic ver-       place during further judicial       in high-risk research to devel-     and the US.                           Analysts tracking the Lipi-
  pact at the Ambattur facility     keting, etc., is being recruit-      cials said without divulging fi-     sion of its cholesterol-lowering    proceedings including a full        op life-saving medicines for           For instance, while a UK        tor developments said that fol-
  of Dunlop India Ltd, to be        ed. This apart, a team of 15         nancials.                           drug, Lipitor.                      patent infringement trial that      millions of patients.”              court had upheld the validity of   lowing the UK and US setbacks
  signed in a week, will come       to 20 zonal and regional                Mr Jorge Insuasty, NCH’s            The ruling involves Pfizer’s      has not yet been scheduled.            When contacted, a Ranbaxy        Pfizer’s main patent covering       for Ranbaxy, the Finland
  up with a separate produc-        heads will also be recruited         Senior Vice-President (Global       patent (FI94958) that covers        The patent expires in February      spokesperson said, “We are yet      atorvastatin, Ranbaxy man-         Court’s ruling has been on ex-
  tivity norm also to be agreed     in phases. A chief executive         Research Development), said         processes and intermediate          2009.”                              to go into the details of the       aged to invalidate a related       pected lines.
  upon by the management            officer for the company is al-        the centre would work on prod-      compounds used to make ator-           Mr Jeffrey Kindler, Vice-        judgment and hence we cannot        patent on the calcium salt of         “It will be very difficult for
  and the trade unions.             so being appointed.                  ucts in the analgesics, cough       vastatin, the active ingredient     Chairman and General Coun-          offer any further comments at       the molecule.                      Ranbaxy to launch Lipitor
     The unit is expected to re-       Raising funds: The com-           and cold, gastro-intestinal and     in Lipitor.                         sel, Pfizer, added, “This deci-      the moment.”                           Also, the US District Court     early, especially in a big mar-
  open in three to four months      pany is also to sewing up fi-         dermatology segments, be-              According to a statement on      sion is another significant             In order to get an exclusivity   of Delaware had ruled in De-       ket,” said an analyst.
  after the wage pact comes         nances worth Rs 350 crore            sides developing innovative         Pfizer’s Web site, “The decision     milestone in our defence of         window for the generic version      cember that the generic com-          The Ranbaxy scrip on
  into effect.                      mostly from overseas agen-           dosage and delivery systems.        reverses an earlier lower court     Lipitor patents around the          of Lipitor, the Indian pharma       pany’s product infringes the       Wednesday closed at Rs 462.90,
     As far as the Sahagunj         cies. The funds, it is stated,          The talent and skills in the     ruling and, subject to a possi-     world. It is also an important      company has been challenging        two patents covering Pfizer         up 3.05 per cent on the Bombay
  facility of the company in        would be sufficient to meet           Indian market worked in fa-         ble appeal to the Finnish Su-       outcome for Pfizer and other         the patents governing Lipitor       Inc’s      cholesterol-lowering    Stock Exchange.
  West Bengal is concerned,         long and short-term require-         vour of bringing the research
  although an MoU on a wage         ments of modernisation and           centre to India, he said. “We
  pact has been signed, the         meeting past liabilities. Pro-
                                                                         needed to be there,” he added,
  formal agreement is to ma-
  terialise as the trade unions
                                    gress has also been made in
                                    negotiating the settlement
                                                                         indicating that India was an                                                                                                                                                       Toyota workers
                                                                         important emerging market.
  had raised several objec-
  tions to the productivity
                                    of bank liabilities.
                                       On the operational front,
                                                                            OTC accounts for about 10                                                                                                                                                       issue strike notice;
                                                                         per cent of Novartis’ total
  norms drawn up by the
  Ruia-controlled       Dunlop
                                    Dunlop is in the process of
                                    finalising its modernisation          $32.2-billion sales, a company                                                                                                                                                     27 employees
                                                                         official said.
  management.
     According to sources, the
                                    plan, which is due to be
                                    placed before the Board for             Mr Ranjit Shahani, Country
                                                                         President of Novartis India,
                                                                                                                                                                                                                                                            to be sacked
  management is considering         Industrial and Financial Re-
  alternative reopening plans       construction on March 28.            said that establishing an OTC                                                                                                                                                      Our Bureau
  for Sahagunj.                        “We have already identi-          research centre in India was                                                                                                                                                       Bangalore, Feb. 22
     “The West Bengal Gov-          fied the critical equipment           significant, though India was
  ernment has been extreme-         which is in extremely bad            yet to have a regulation on                                                                                                                                                        THE rift between Toyota Kir-
  ly co-operative to us so far.     shape and should be re-              OTC. An increased presence in                                                                                                                                                      loskar Motor (TKM) and its
  However, we have certain          placed with immediate ef-            the OTC business would trig-                                                                                                                                                       workers has widened with the
  differences with the work-        fect.   Orders       for   the       ger change in terms of its vis-                                                                                                                                                    employees issuing a strike no-
  ers’ union at Sahagunj. We        equipment should be placed           ibility, he added.                                                                                                                                                                 tice to the management for not
  hope that it will be resolved     by early next month,” the of-           The domestic OTC market                                                                                                                                                         agreeing to their demands.
  shortly,” a company official       ficial said.                          grew at about 5.2 per cent,                                                                                                                                                           In another development, the
                                                                         while globally growth was                                                                                                                                                          management has decided to
                                                                         pegged at 3.7 per cent, a com-                                                                                                                                                     dismiss 27 suspended workers
                                                                         pany official said.                                                                                                                                                                 on grounds of indiscipline.
                                                                                                                                                                                                                                                               The TKM management has
                                                                                                                                                                                                                                                            informed the Labour Commis-
                                                                         Torrent starts                                                                                                                                                                     sioner of its decision.
   New Fortis Healthcare chief                                           diabetes division                                                                                                                                                                     A workers’ union spokes-
                                                                                                                                                                                                                                                            person told Business Line that
      NEW DELHI: The Board of Fortis Healthcare has ap-                                                                                                                                                                                                     the management has failed to
   proved the appointment of Mr Shivender Mohan Singh as                 Our Bureau                                                                                                                                                                         protect the interest of the
   Managing Director of the healthcare company. He was ear-              Ahmedabad, Feb. 23                                                                                                                                                                 workers and was harassing
   lier the Joint Managing Director of the company.                                                                                                                                                                                                         them.
                                                                                                             IN EXPANSION MODE: Mr Ashok Kajaria (right), Managing Director, Kajaria Ceramics Ltd, and Mr Sanjeev Agarwal, General
      Along with this, Mr Daljit Singh has been appointed as the         TORRENT Pharmaceuticals                                                                                                                                                               He said they plan to go on
                                                                                                             Manager (Finance), at a press conference in Mumbai on Wednesday. – Shashi Ashiwal
   CEO of the company with full responsibility of the health-            Ltd has set up a new division to                                                                                                                                                   strike during the third week of
   care delivery business. — Our Bureau                                  cater to diabetes, one of its                                                                                                                                                      March. Before that, they will
                                                                         main revenue spinners.
                                                                            Named ‘AzuCa’, meaning
                                                                         sugar in Spanish, the new su-
                                                                                                             Kajaria Ceramics plans Rs 123-cr expansion                                                                                                     go on a day’s strike on March
                                                                                                                                                                                                                                                            7 and will take out a proces-
                                                                                                                                                                                                                                                            sion to the Chief Minister’s of-
                                                                         per specialty diabetology divi-                                                                                                                                                    fice along with other trade
                                                                                                             Our Bureau                          in the industry.                    crore with a mix of debts of Rs     here on Wednesday.
     Award for EHRC chief                                                sion will become operational
                                                                         by April and is part of Tor-
                                                                                                             Mumbai, Feb. 22                        The company is eyeing a ca-
                                                                                                                                                 pacity of 40 million sq.mt. and
                                                                                                                                                                                     80 crore and internal accrual
                                                                                                                                                                                     of Rs 43 crore. In a step to-
                                                                                                                                                                                                                           The company is also sharp-
                                                                                                                                                                                                                         ening its focus on exports,
                                                                                                                                                                                                                                                            union bodies.
                                                                                                                                                                                                                                                               The TKM’s spokesperson,
                                                                         rent’s strategy of sharpening                                                                                                                                                      General Manager for Corpo-
        NEW DELHI: Dr N.K. Pandey, Executive Director and                                                    PROJECTIONS of a faster             a turnover of Rs 1,000 crore by     wards that, the company has         opening its office in Sharjah,
                                                                         focus on diabetes mellitus.                                                                                                                                                        rate Planning, Mr A.R. Shan-
     Head of Dept of Surgery, Escorts Hospital and Research                                                  growth rate in the housing and      March 2010.                         already taken the approval for      which will function as the mar-
                                                                            The new division will have a                                                                                                                                                    kar, said the new strike notice
     Centre (EHRC), Faridabad, has been selected for Dr B.C.                                                 real estate sectors are prompt-        KCL, which at present has        the issue of a GDR or FCCBs         keting arm of the company in
                                                                         sales force of about 300 exec-                                                                                                                                                     will not attract any ban as it
     Roy Award.                                                                                              ing ceramic manufacturers to        two plants in UP and Rajasthan      up to $30 million. The project is   the Gulf.
                                                                         utives and will service nearly                                                                                                                                                     was a fresh strike notice.
        The prestigious award is given as recognition of the                                                 expand their capacities to meet     with a combined capacity of 18      expected to be completed by           According to Mr Kajaria, the
                                                                         25,000 doctors across the                                                                                                                                                             “It will go through the same
     best talents in encouraging the development of speciali-                                                the increase in demand.             million sq.mt., is in the process   September 2006. After this, we      Indian ceramic market was
                                                                         country.                                                                                                                                                                           process as the last one,” he
     ties in different branches of medicine. — Our Bureau                                                      Kajaria Ceramics Ltd (KCL),       of implementing an expansion        will become the largest pro-        about 270 million sq. mt. with a
                                                                            “Diabetes is becoming an ar-                                                                                                                                                    said.
                                                                                                             manufacturer of ceramic tiles,      programme to raise its capac-       ducer of ceramic wall and floor      turnover of Rs 5,500 crore. In-
                                                                         ea of prime focus for Torrent                                                                                                                                                         He said the workers had put
                                                                                                             has put up on its drawing board     ity by another 8.4 million          tiles in the country,” Mr Ashok     dia accounted for 4.1 per cent
                                                                         Pharma. Currently we own 2                                                                                                                                                         forth new demands, including
                                                                                                             an expansion programme in           sq.mt.. “The expansion is being     Kajaria, Chairman and Manag-        of the global production of
     Aurobindo to hive off unit                                          per cent of the oral hypogly-
                                                                         caemic agents (OHA or dia-
                                                                                                             tune with the prevailing trend      carried out at a cost of Rs 123     ing Director, told presspersons     ceramics.
                                                                                                                                                                                                                                                            revoking suspension of 27 of
                                                                                                                                                                                                                                                            their colleagues.
                                                                         betes drug) market, which is                                                                                                                                                          The workers went on strike
       HYDERABAD: Aurobindo Pharma Ltd (APL), the city-                  valued at Rs 780 crore. With                                                                                                                                                       on January 6 and two days lat-
     based pharmaceutical company, has informed the stock
     exchanges that in view of shift of management focus to-
                                                                         AzuCa, we hope to increase our
                                                                         market share to 15-20 per cent      Kochi petrochem project                                                                                                                        er, the management declared
                                                                                                                                                                                                                                                            a lock out fearing violence in-
     wards highly regulated market, it is proposed to sell/dis-          in the OHA segment within                                                                                                                                                          side the factory.
     pose of unit-II, a non-regulatory unit situated in Medak            three years,” according to Mr                                                                                                                                                         The Government, however,
     district here.
       The net block value of this unit as on December 31, 2005
     was 0.58 per cent of total net block of fixed assets in-
                                                                         Sujesh Vasudevan, Vice-Presi-
                                                                         dent Marketing, Torrent Phar-
                                                                         ma. Of the seven research
                                                                                                             GAIL seeks sops from Kerala Govt                                                                                                               declared the strike by the
                                                                                                                                                                                                                                                            workers as illegal forcing
                                                                                                                                                                                                                                                            them to return to work. Dur-
     cluding current work in progress (CWIP).                            projects currently in the pipe-     Richa Mishra                        when these issues will be           entry tax, stamp duty and           plant with a capacity of           ing the lock-out period, which
       The company proposes to seek the consent of share-                line at Torrent Pharma, three       New Delhi, Feb. 22                  discussed further and a final        electricity duty, spread over a     400,000 tonnes per annum will      was lifted on January 21, TKM
     holders for the proposed hive-off through postal ballot. –          are focused on diabetes.                                                decision would be arrived at,       period of 15 years. Any delay       be put up in Kochi at an           claimed that it had lost pro-
     Our Bureau                                                             These include a patented ad-     IN order to make the proposed       sources said.                       in the decision-making on           investment of Rs 6,200 crore.      duction of 600 vehicles.
                                                                         vanced glycosylation end-           petrochemical project in               At the official-level             these issues would impact the       The debt-equity ratio is likely       The company has a total of
                                                                         products (AGE) breaker com-         Kochi economically viable,          meeting, the Kerala                 viability of the project as it      to be 70:30, sources said.         1,550 unionised workers.
                                                                         pound, which has a great            GAIL (India) Ltd has sought         Government has reportedly           may result into cost overrun,          The feedstock for this plant       TKM workers had earlier
     JIK Ind nets Rs 8.28 cr                                             potential for the treatment of      fiscal concessions from the          assured GAIL that it would          sources told Business Line.         will be imported liquefied          demanded that the manage-
                                                                         diabetes-related vascular and       Kerala Government.                  consider favourably the fiscal          The GAIL team was led by         natural gas (LNG), which will      ment should take back three
       MUMBAI: JIK Industries has reported a net profit of                cardiac complications.                The recent discussions held       benefits to make the                 its Director (Finance) and the      be re-gassified at the terminal     dismissed employees.
     Rs 8.28 crore for the quarter ended December 2005                      The company is also work-        between a high-level team of        petrochemical project viable.       Kerala Government was               of Petronet LNG Ltd at Kochi,         But the talks between the
     against a net loss of Rs 2.56 crore in the year-ago period.         ing on DPP-IV inhibitors (a         GAIL and State Government              According to sources, GAIL       represented by the State Chief      in which GAIL has 12.5 per         management and the employ-
       The Corporate Debt Restructuring (CDR) programme                  new class of anti-diabetic          officials are said to have           has requested for intervention      Secretary, Principal Secretary      cent equity.                       ees broke down after the com-
     has helped the company, which is into handmade non-lead             drugs), which is in the pre-clin-   focused on the issues of fiscal      of the State Government to          (Finance), Secretary (IT), and         This project is likely to be    pany refused to take back the
     crystal ware. – Our Bureau                                          ical stage and will enter phase     concessions and the                 help procure the land required      Managing Director of Kerala         commissioned coinciding with       sacked workers.
                                                                         one trials soon.                    procurement of land for the         for the project from FACT at        State Industrial Development        the commissioning of the LNG          The      management      had
                                                                            The third diabetes-related       proposed petrochemical              the price indicated in the          Corporation.                        terminal at Kochi.                 claimed that the earlier strike
     Aurobindo scraps jt venture                                         project is another novel ap-
                                                                         proach to anti-diabetic therapy
                                                                                                             project.
                                                                                                               The GAIL Chairman and
                                                                                                                                                 detailed feasibility report.
                                                                                                                                                    GAIL has also sought a one-
                                                                                                                                                                                        GAIL had signed a
                                                                                                                                                                                     memorandum of cooperation
                                                                                                                                                                                                                            There is all probability of
                                                                                                                                                                                                                         getting Iran LNG for this
                                                                                                                                                                                                                                                            was illegal as the union had
                                                                                                                                                                                                                                                            not given 14 days’ notice as
                                                                         and is in the lead identification    Managing Director, Mr               time fiscal benefit of Rs 470         with the Kerala Government          terminal.                          per the Industrial Disputes
        HYDERABAD: Aurobindo Pharma Ltd (APL), has an-                   stage, Mr Vasudevan said.           Proshanto Banerjee, is              crore on account of work            in June 2004 for setting up a          In addition, GAIL is also       Act since the company has
     nounced that it has terminated with immediate effect its               India has an estimated 3.5       expected to meet the Kerala         contract tax (a tax that is         petrochemical plant in the          exploring the possibility of       been notified as a public utility
     50:50 joint venture agreement with Citadel Fine Pharma-             crore diabetics, which is likely    Chief Minister, Mr Oommen           levied on services offered by       State. The integrated               getting gas from sources such      service      by     the    State
     ceuticals Ltd (CFPL) in Citadel Aurobindo Biotech Ltd               to increase to four crore by        Chandy, sometime next month         a contractor to the principal),     grassroots petrochemical            as Australia, Qatar, and Oman.     Government.
     (CABL). The company informed stock exchanges on                     2010 and 7.4 crore by 2025. The
     Wednesday that the JV company has been incurring loss-              incidence of diabetics in urban
     es. However, the company said the termination has no                areas has increased 20 times in
     significant effect on its revenues. – Our Bureau                     the last two decades, he said.
                                                                                                             Kemwell acquires Pfizer’s plant in Sweden                                                                                                       Suryavanshi gets
                                                                                                                                                                                                                                                            shareholders’ nod
                                                                                                                                                                                                                         its four plants in Bangalore       for pref offer
Sharadha Terry plans foray into Japan
                                                                                                             Our Bureau
                                                                                                             Bangalore, Feb. 22
                                                                                                                                                   ●   The Swedish facility mainly produces salazopyrine,                make APIs (active pharma in-
                                                                                                                                                       dubbed in medical circles as the ‘first designer                   gredients) and formulations —      Our Bureau
                                                                                                             THE overseas pharma acquisi-              drug’ used to treat arthritis and IBS (irritable bowel            in the form of tablets, liquids,   Hyderabad, Feb 22
L.N. Revathy                        2006 to meet the increasing de-      top 20 to 25 stores in the US.      tions saga continues.                     syndrome).                                                        oral drops, creams and oint-
Coimbatore, Feb. 22                 mand.                                “We have established direct            Kemwell Pvt Ltd, the Banga-                                                                              ments — for GSK, Pfizer, John-      THE shareholders of Surya-
                                       Terry products ranging            contact with retailers such as      lore-based contract manufac-                                                                                son & Johnson, AstraZeneca,        vanshi Spinning Mills Ltd
SHARADHA Terry Products             from home towels to institu-         Macy’s, Bed Bath & Beyond,          turer for global drug major,                                                                                Wyeth, Novartis, among oth-        (SSML) approved the compa-
Ltd is planning to foray into the   tional towels are manufactured       Restoration Hardware, Mata-         has acquired Pfizer’s manufac-       duces salazopyrine, dubbed in       new global contract manufac-        ers.                               ny’s proposed preferential of-
Japanese market.                    there.“Until we introduced the       lan, Dillard, Kohl’s in the US,     turing plant in Sweden, accord-     medical circles as the ‘first de-    turing opportunities, Mr Baga-         Kemwell, with a contract        fer at an EGM on Wednesday.
   “We are planning to intro-       ultra soft, low twist and high       the UK and the rest of Europe.      ing to Kemwell’s CMD, Mr            signer drug’ used to treat ar-      ria told Business Line.             manufacturing service turn-           They approved the issue and
duce the ‘Microcotton’ brand in     absorbency towels under the          We are not into the mass mar-       Subhash Bagaria.                    thritis and IBS (irritable bowel       Kemwell would continue to        over of Rs 50 crore, also ex-      allotment of 15,06,747 fully
Japan next year. We have es-        ‘Microcotton’ brand, we used to      ket, but within the store, we try      The deal is to be completed      syndrome). The plant is ap-         keep out of launching its own       pects to complete its new Rs       paid-up equity shares of Rs 10
tablished our presence in the       sell by weight. Now, these tow-      and grow,” Mr Kannappan             next month. Without disclosing      proved by the USFDA, the Eu-        products.                           40-crore export-oriented plant     each at Rs 87 on preferential
US and the UK. Our next target      els command a premium.               said.                               the purchase amount, Mr Ba-         ropean     EMEA       and    the       In the long run, it would ex-    with 5-billion tablets capacity    basis to the financial institu-
market is Japan,” Mr G. Kan-           In the initial days of the rol-      Sharadha Terry has also          garia said the facility in Uppsa-   Japanese regulator and its 170      plore new contract opportuni-       near Bangalore this year, Mr       tions, FIIs, and investors.
nappan, Chairman and Manag-         lout, we priced the towel in the     started manufacturing bed           la was expected to add Rs 200       employees will be retained.         ties by building links with the     Bagaria said, and this was ex-        The EGM also cleared the
ing Director of Sharadha Terry      $20-$24 range. We have intro-        sheets and blankets during the      crore to Kemwell’s annual              Salazopyrine has an estimat-     Uppsala University and the          pected to add Rs 150 crore an-     proposal to increase the au-
Products, told Business Line.       duced a premium range priced         current year.                       turnover along with a vital Eu-     ed global market of $200 mil-       rich local bioscience arena         nually to the turnover.            thorised share capital from Rs
   The 100-per cent export-ori-     at $45-plus. We have registered         To meet yarn requirements,       ropean footprint for its con-       lion and involves just a few        there.                                 The Uppsala plant, which re-    8 crore divided into 80 lakh eq-
ented unit, which is located        a double-digit growth. The rise      the company has invested Rs         tract            manufacturing      players. Pfizer caters to a sala-       “Kemwell is the first Indian      portedly attracted many inter-     uity shares of Rs 10 each to Rs
near Coimbatore, began oper-        in the price levels has trig-        60 crore to set up a spinning       ambitions.                          zopyrine market of 80 coun-         contract manufacturer to ac-        ested players, was one of the      15 crore divided into 1.5 crore
ations in 1994 with 16 looms. It    gered a volume growth,” he           unit with 33,000 spindles for          The deal amount would be         tries. The new entity, to be        quire business abroad,” he          four Swedish units of world        equity shares of Rs 10 each, by
has increased its capacity to       added.                               backward integration. The to-       partly raised as debt from one      called Kemwell AB, would con-       said, adding, “We want to be a      leader Pfizer Inc, which next       addition of 70 lakh equity
128 looms and is planning to           The company has entered in-       tal investment in terry prod-       or two Swedish banks. The           tinue to make the drug for the      key contract manufacturer in        plans to shut its Stockholm        shares of Rs 10 each.
add another 70 by September         to a marketing tie-up with the       ucts is Rs 250 crore.               Swedish facility mainly pro-        US major while scouting for         the global market.” Currently,      plant in 2008.


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