PARIS (Reuters) - French healthcare company Sanofi SA has agreed to buy U.S. company Principia Biopharma Inc for around $3.7 billion, the companies said on Monday, strengthening Sanofi's presence in research and development (R&D) areas.
NIfty has been forming higher tops and higher bottoms on the daily charts. Nifty is placed above 20,50,100 and 200 days moving averages, indicating bullish trend on all time frames
High growth visibility in chronics, strong balance sheet will help sustain premium valuation
Sanofi and GSK said they had reached an agreement with Britain to supply it with up to 60 million doses of a potential Covid-19 vaccine, and that discussions with other governments were ongoing
These companies reported an increase in revenue and/or profit before tax for the March quarter
The moves come after the World Health Organization paused its large trial of hydroxychloroquine, prompting several European governments to ban the use of the drug
Given the huge hit from lockdown, it is not surprising that 44 of the 80 companies have seen sharp cuts ranging 10% to 72%
One-time dividend of Rs 243 has given a leg up to sentiment
Among sectoral indices, Nifty Auto index slipped the most - over 2 per cent to 7,208 levels. Nifty Metal index dropped 1.63 per cent to 2,430
The total dividend of Rs 343 per share includes a one-time special dividend of Rs 243 per equity share for the year ended December 31, 2019.
Around 6.98 million insulin pens were sold; it was 6.97 mn in the year-before period
The sale will translate into average annual revenue loss of Rs 470 cr, which Sanofi plans to mitigate through renewed focus on core activities and brands
Analysts at Elara Capital say the company's portfolio being skewed toward the high-growing chronic products, coupled with its leadership position in basal insulin, gives it an edge over its peers
Street positive given attractive valuations; stock trading at 16x its CY20 estimates
Sanofi is already one of Ablynx's big pharma partners, after striking a deal in July 2017 to find new treatments for inflammatory diseases
The drug firm had posted a net profit of Rs 86.1 cr in the corresponding period of FY17
Proxy firm Stakeholders' Empowerment Services (SES) has raised concerns over the board composition of Sanofi India, where two former Kingfisher Airlines directors AK Ravi Nedungadi and Subash Gupte are serving as independent directors along with former RBI deputy governor Usha Thorat. "SES reiterates that there is no legal violation as far as board members are concerned. However, shareholders would be interested to know boardroom chemistry between an ex Regulator (Dr. Usha Thorat) and an ex-director of a company declared wilful defaulter," the firm said in a note ahead of the pharma major's annual general meeting on Friday. Kingfisher Airlines (KFA) has been declared as a willful defaulter by several banks after being grounded in October 2012 and its promoter Vijay Mallya is facing several proceedings including one to extradite him from UK. Nedungadi, who was a director of KFA till April 2014, had been associated with various Mallya businesses since the 1990s. Gupte, a former Air ...
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Stating the company understands its responsibility of making and distributing affordable essential medicines to all sections of society