Pharmaceutical companies continue to hog the limelight, with IPOs, fund-raising, new drug approvals and on the flip side, notices and warnings by the US FDA.
Sun Pharmaceutical Industries said in a regulatory filing on 24 December that its subsidiary Sun Pharma Laboratories raised Rs 1,000 crore by way of private placement of non-convertible debentures with tenors of 24 months (Rs 500 crore) and 39 months (Rs 500 crore).
The company was in the news for having been warned by the US Food & Drug Administration (US FDA) over irregularities at its Halol plant in Gujarat.
The company recently sold one of its fully-owned subsidiaries in the US to Nostrum Laboratories Inc.
Aurobindo Pharma on 24 December in a filing with the BSE said it had received shareholders' nod to raise $600 million. On the same day, it announced US FDA's approval to manufacture and market Famotidine Tablets USP, 20 mg and 40 mg.
Glenmark Pharmaceuticals said on 24 December it was seeking shareholders' approval to raise $500 million.
A few days ago, Alkem Laboratories and Dr Lal PathLabs raised Rs 1,350 crore and Rs 638 crore, respectively through IPOs.
The shares of the two companies were listed on the stock exchanges on 23 December. While Alkem closed the day with a 31% premium to its issue price of Rs 1,050, Dr Lal PathLabs gained almost 50% to its issue price of Rs 550.
