The mazda pharma Guide 5th August to 11th August 2013 | Page 62
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MARSH LIFE SCIENCES RISK CONCLAVE 2013 HELD IN MUMBAI
Mumbai : Marsh Life Sciences Risk Conclave 2013 held in Mumbai discussed the emerging risks in life science industry. The conclave brought about how the potential of insurance and risk management can address some of the key risks in pharma sector. Topics discussed Laboratories), Stephen L Andre (Marsh Marine Practice, UK), Sushant Sarin (Tata AIG), Christopher Carlsen- Partner Clyde & Co, USA, Joseph P Thomas, Ulmer & Berne LLP, USA, Ganesh K, senior vice president - Finance, Dr Reddy's Laboratories and Jason Haynes, MD for International Casualty Business, Bowring Marsh. crore and its R&D expenditure increased by 28.4 per cent to Rs.70.99 crore from Rs.55.27 crore. Its interest cost went up sharply by 280 per cent, which impacted its bottom line, to Rs.332.53 crore from Rs.87.52 crore as the company provided one time charges of Rs.162.80 crore for acquisition of Decision Resources Group. The company has purchased 10 per cent stake of Shriram Transport Finance Company for a cash
PIRAMAL ENTERPRISES INCURS NET LOSS OF RS. 147
CR IN Q1
Mumbai : Piramal Enterprises, a Rs.3,500 crore plus diversified company with a presence in pharmaceutical, financial services and information management sectors, has received major setback during the first quarter ended June 2013 on account of one time charges of Rs.162.80 crore towards acquisition of Decision Resources Group in June 2012. Thus, the figures are not strictly comparable. It
consideration of Rs.16.36 crore. The company amalgamated PHL Holdings Pvt Ltd with effective from July 2, 2013. It canceled 8,40,92,879 equity share of Rs.2 each held by PHPL in the company and issued equivalent number to the shareholder of PHPL on July 16, 2013.
ranged from emerging issues in supply chain management for life sciences industry, risk issues around temperature controlled cargo and risk solutions, product contamination, recall issues, managing global clinical trials and regulatory constraints. Speaking on the occasion, Sanjay Kedia, country head and CEO, Marsh India Insurance Brokers Pvt Ltd, world's leading insurance broker and risk adviser, said, "Indian Life Science Industry is the third largest in the world, projected at US$ 20 billion by 2015. It is therefore important to understand the potential and limitations to manage these risks in India. Scenario is grave as the number of international players in the product liability insurance programme is also limited." Pharma companies are governed by global regulators and very few companies are writing the insurance products. With regards to settlements and penalties, risk from the regulatory side is very much profound considering the recent events of pharma manufacturing units being subjected to settlements and penalties by the regulators. "In the current scenario, insurance programme for regulatory fines and penalties is not available to corporates. There is a need for a holistic risk management approach encompassing risk control, risk audit and best practices," Kedia explained. Other speakers of the conclave were Sujay Shetty - Life Sciences Leader, PwC, Belinda Berwick (vice president, Marsh Risk Consulting), Ganesh K (Dr Reddy's
ROCHE GROUP NET EARNINGS JUMPS BY 41% IN FIRST HALF OF 2013
Mumbai : Roche Group has posted sales growth of five per cent during the first half ended June 2013 and its sales reached at 23.3 billion Swiss francs with continued demand for its oncology medicines, as well as for its clinical laboratory diagnostic products. The Pharmaceuticals division posted a six per cent increase in sales to 18.2 billion Swiss francs, while the Diagnostics division recorded a three per cent rise in sales to 5.1 billion Swiss francs. The Group's core operating profit rose 10 per cent to 9.5 billion Swiss francs in the first half of 2013. Net income on an IFRS basis rose 41 per cent to 6 billion Swiss francs as the large restructuring charges relating to the closure of the US site in Nutley that were incurred in 2012 were not repeated this year. Roche's core EPS, which excludes non-core items such as restructuring charges and amortisation and impairment of intangible assets, rose 12 per cent to 7.58 Sw ?????????????????????????????????I??????