Cover Story

Lupin - Long-haul rider
In 2001, Lupin flagged off the Lupin Research Park in Pune, a centralised research centre.

Wockhardt - Playing safe
Habil Khorakiwala, Chairman, Wockhardt, like many of the CEOs BT spoke to, is keen to have a new drug on the market in five years.
Advinus - Doctor at home
After working for two decades with big Pharma colossus Bristol Myers-Squib, Rashmi Bharbaiya returned to India four years ago to pursue his dreams of making the country a hot spot for drug discovery.
Biocon - The chemistry in Biocon
True to its name, Biocon entered the biopharma market a decade ago after initially being a producer of industrial enzymes. Initially, the focus was on generics, one of the main objectives being to understand the regulatory issues.
Glenmark Pharmaceuticals - License to Thrill
Conventional strategy in the Indian drug industry till date has been to wring the US generics market, along with Europe and even the domestic market, for all its worth, and pump those gains into drug discovery.
Nicholas Piramal - More the merrier
Drug discovery is fraught with uncertainty, shrugs Ajay Piramal. But the Chairman of the innovation-driven Nicholas Piramal India Ltd (NPIL) appears at ease in such perilous environs.
Ranbaxy Laboratories - Clinical precision
Dr Reddy's Laboratories - Trials by fire
When the drug molecule carrying his name let him down, Kallam Anji Reddy, the scientist Founder-Chairman of Dr Reddy’s Laboratories, hinged all his hopes on the Lord.

2008-01-27

Digital

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Editors note

From the editor

The outcome in drug discovery may be fraught with many more uncertainties than a game of chess is-after all, in chess you or your opponent can win or both end a game in a draw.

Current

"SMS 2.0" takes off

Planning to sign up for the do-not-call registry or already have? Don’t bother. Marketers have figured out another way to reach you, the mobile phone user.

The ebullient entrepreneurs

They’re doing just fine in India, thank you.

Welcome to the jingle

Can videos and brands work for each other?

Home away from home

The Clarks Group of hotels enters the home-stay segment.

Banking on the brand

Canara Bank wants to be a super-speciality supermarket.

Sign of the times

Another ad honcho gets lured by the great outdoors.

Kinetic's comeback?

Against all odds, it launches a good looking step-thru.

Jagran's big footprint

Jagran Prakashan Ltd (JPL), which has topped round two of IRS 2007 with a readership of 53.6 million for its flagship brand, Dainik Jagran, has unleashed a slew of activities that launch it into new spaces.

IT's new wannabe

Anil Dhirubhai Ambani Group (R-ADAG), it appears, is drawing up plans of a serious foray into IT services. The group won’t comment, but it appears Ambani is willing to set up a war chest of $2 billion (Rs 8,000 crore) to exponentially grow Tech Reliance’s small headcount.

Wanted: Real broadband

Ever wondered why your 256 kbps broadband connection never seemed like broadband? Well, it seems service providers have been short-changing consumers. Investigations by the telecom regulator, TRAI, have revealed that many operators had circumvented the rule by offering services with speeds “up to 256 kbps”. That is, a maximum speed of 256 kbps as against DoT’s rule of 256 kbps minimum.

Sense of rumour

Some time in mid-2007, those shadowy “investment banking sources” of the Indian business media let on that Infosys was preparing to acquire the France headquartered IT consultancy firm Capgemini. Last fortnight, that mill was grinding furiously with the same rumour—only this time it’s not Infosys but Wipro.

Power-packed blueprint

So what is Anil Ambani going to do with the Rs 10,000-odd crore he plans to raise via an initial public offering (IPO) of Reliance Power, a subsidiary that’s 51 per cent owned by Reliance Energy? The IPO will part-finance Reliance Power’s game plan for putting up 7,060 MW of capacity.

What's in the peace pipe?

For years they’ve slung mud, called each other names and, when not busy doing that, had their respective award shindigs. The Indian advertising industry (fraternity wouldn’t quite be the right word) has, for some reason, had two apex bodies: The Advertising Agencies Association of India (AAAI) and the Ad Club of Mumbai.

Profit in the bag

A year ago, when cement prices pierced the Rs 200 barrier (for a 50 kg bag), Finance Minister in his Budget speech attempted to keep manufacturers in check by slapping an excise duty on the product if its price crossed a particular limit. The move backfired, what with cement producers simply passing on the increase in excise to customers.

The Tatas' big deal

By the time you read this, the Tatas’ Rs 1-lakh car and to a lesser extent the new Indica will be the talk of the town. But at the other end of the spectrum, there are also the premium auto brands, Jaguar and Land Rover, which Tata Motors looks set to acquire from Ford.

Paradise regained?

From the outside, there is little evidence of the angst locals feel over the proposed (and now seemingly scrapped) establishment of Special Economic Zones (SEZs) across Goa. The state may have set the course for the success (or failure) of SEZs.

Trends

India's highest paid film stars

Surprise! Shah Rukh Khan is not the highest paid film star in India; in fact, he's not even among the Top 5. And here is a shocker: despite the hype, Aishwarys Rai does not even figure in the Top 15.

Governing global trade

The multilateral system that has underpinned world trade for over 50 years is facing serious challenges.

The BT 50 index

Surging remittances

Developing nations see a robust growth in the inflow of remittances. Remittance flows to developing countries to reach $20 billion in 2007.

Just wondering

Some media reports had put the figure at a whopping Rs 350 crore for the Rs 70-crore film—the costliest ever in India.

Numbers of note

 The amount raised by companies through public issues in 2007, according to Prime Database and Bloomberg

Talebearer

The government’s efforts to give more teeth to the Competition Commission of India (CCI) has come in for censure from Confederation of Indian Industry (CII).

UP joins, VAT reaches all states

Uttar Pradesh has also hopped onto the Value Added Tax (VAT) bandwagon. Trade and industry in the state have been brought under VAT from January 1, 2008.

Tying up the airwaves

The competition, clutter and the fragmented media environment are forcing advertisers and television broadcasters to enter into multi-year contracts with each other to assure a regular flow of ad revenues and, in turn, offer advertisers assured spots on television.

"India is our key R&D destination"

David Goulden, Executive Vice President and CFO of EMC, a $11.1-billion (Rs 44,400 crore) information management company, spoke to BT’s Rahul Sachitanand on the company’s evolution and plans for India. Excerpts:

Too many cooks?

Muscular federalism may threaten the India growth story.

Instant tip

The fortnight’s burning question - Are SEBI’S new guidelines on insider trading good enough to stop this practice?

Letters

A well-compiled list

21 for 21 was compiled well and includes leaders and entrepreneurs from non-conventional sectors as well.

60 minutes

Developing markets are key to PepsiCo's growth: Indra K. Nooyi

As the Chairman and CEO of the $35 billion PepsiCo, Indra Krishnamurthy Nooyi, 52, has her hands full, even though she is visiting her hometown for a vacation. In a free-wheeling interview with Rahul Sachitanand, she discusses her plans for PepsiCo, the industry and even her beloved baseball team, the New York Yankees.

Event

Of women directors, mile-high clubs and John Abraham

The Business Today-Aditya Birla Group Acumen 2007 finals saw the best B-school talent quiz and debate about women, mile-high clubs and breaking the glass ceiling, among other things.

Par for the course

The 13th Business Today-Honda Pro-Am of Champions’ eastern leg saw some keen competition among Kolkata’s corporate bigwigs.

Features

Can this marriage work?

Kingfisher and Deccan are like chalk and cheese, with different operating philosophies and different target segments. The two airlines have different business models and cater to different passenger segments. What, then, is the rationale behind their merger? Kingfisher in Europe & US, Deccan in Asia: Mallya Kingfisher to fly abroad this year: PatelWind under their wingsBeyond the horizon

Banking on your handset

If cash is going out of fashion, thanks to the credit card, it won’t be long before plastic makes way for another payment system. And this one could well be in your mobile handset.

In This Issue

Indian pharma majors betting it big

India’s handful of innovation-driven pharma companies are running through hundreds of crores of rupees in their endeavour to put a new drug on the global market. There have been a few setbacks along the way, but nobody’s giving up—not yet.

Attack of the netclones

India’s cyber warsProduced by: Starry-eyed entrepreneurs & vcsDirected by: No one in particularStarring: Just about everyoneStarry-eyed entrepreneurs and eager vcs, coupled with the medium’s relatively low entry barrier, are spawning legions of dotcom clones in india. what are these guys thinking?

Editorial

Indian pharma's balancing act

Among the many industries that cater to our wants and needs, pharmaceuticals has to be the most unique.

Back of the Book

Makeover for mishti

In a bid to take their delicacies to a larger audience, Bengal’s sweet makers are adding a dash of international flavour.

BT More

New Year bonanza

This winter, take your pick from the hottest launches that are begging for your attention.

Mirror make it your best friend

Just getting the right outfit is not the end of it all. One wrong shade on the face and your entire look will take a beating… so, read on and get yourself the right look.

The finest wheels your money can get

It’s a tough act, balancing your needs and your budget when choosing and buying that dream vehicle. Find out which automobile is just right for you and yet doesn’t punch a large hole in your pocket in this issue’s cover story.

The best rides for every budget

This will be the year of the automobiles. And trust us; it won’t just be the Rs 1-lakh Tata car or the small cars from the Suzuki stable that will vie for your eyeballs and your wallet in 2008.

If money was no constraint...

Which are the fastest and smartest cars you can import? BT More gives you a few tips.

Rule the high seas

With the arrival of Ferretti in India, luxury yachts are the topic of boardroom conversations. Which are the best yachts in India and how much do they cost? BT MORE helps you find out.

Wines with endless legs

Unlike the French, who make cerebral wines, the Italians make wines that are fresh, that go well with food and that can be drunk here and now without being intellectualised.

The sinking paradise

One of the world’s favourite holiday destinations, the Maldives is sinking rapidly. This is probably your last chance to see these magical islands. Go pack your bags.

Live another day

Remember these golden oldies? BT More took some of the oldest mobile handsets, inserted new SIM cards into them and tried out various features. The results are worth a read.

Tea tales

Ever since 2737 B.C., when tea was believed to have been brewed for the first time, it has remained a favourite drink for millions around the world. Tea is still the second most consumed liquid after water. A look at what is in the cuppa that kick-starts your day.

Make heads turn

Dazzle the damsels this winter at every wedding you attend (except yours). Lest too many exchanged vows leave you feeling confused, we came up with four ensembles that can solve your sartorial dilemmas.

Bruno knows

Pal Zileri’s master tailor Bruno Magnaguagno speaks about how precise measurements and cuts play a defining role in creating the perfect suit, and provides expert advice on the latest trends in formal wear.

Dream cars for a steal

Driving around on a swank set of wheels does not necessarily mean you have to break the bank, or rather break into a bank. There are some great deals going on a few very desirable pre-owned, imported cars.

Rhythm divine

When you’re at the top, where do you go from there? In this new music review section, we feature new releases from icons who need no introduction. All three have come out with albums that boast of some of the best works they’ve done. Collector’s items these.

Faces of India

India ‘lives’ in different eras even as Indians happily co-exist. In this issue, we give you glimpses into three new books—all first of their kind attempts by the authors—which delve into different cultures, beliefs and surroundings that we see around us even today.

Get rid of back pain

A chronic back pain is the most common occurrence for all those sitting and working on their laptops or desktops through the day. BT More seeks expert advice on how to cure a bad back through four simple asanas.

Choco luscious

Want to indulge like there’s no tomorrow? Try out one of these amazing new chill zones. Enjoy the aroma of freshly made chocolate while you discover some great new dishes.

Infused scotch, anyone?

Scotch whisky itself does not seem to do the trick anymore for a large number of tipplers. So, Scotch makers are trying different things to add some zing to this age-old favourite.

Seek pleasure from golf

Asked what is the biggest hindrance in the way of a club golfer achieving nirvana or at least a consistent level of skill in the game, Llewellyn came up with this brief but well thought out answer. “Ego,” he replied.

Book

The world not-so-flat

A voice of reason in a world swept up in the (Tom) Friedman mantra.

Jobs

Help, Tarun!

Staying on track

The mixed sentiment of the last quarter continues into the New Year, reveals the sixth quarterly BT-TeamLease Employment Outlook Survey.

In top gear

Surge in demand for auto design engineers.

Leadership Spotlight

The new Henry Ford

Over the last 12 months, the 70-year-old Chairman of the Tata Group has wrested back the position of #1 Indian business house.

Money

The top picks for 2008

There are still quite a few undervalued stocks that could see big upsides in the new year. We shortlist 10 such gems.

The short end of the market

Short-selling makes a comeback. It can be rewarding for investors, but there are downsides as well.

Taking stock, virtually

Online and offline brokering work better in combination than alone.

REITs on the way

Property investing is set to become hassle-free.

The best mutual funds

When Mutual Fund investors started out at the beginning of 2007, many viewed the year ahead with circumspection. It has been a great year for mutual funds, but some stood out from the others.

Noted

Insurance rates nosedive

Insurance rates have nosedived in the general insurance industry following the IRDA decision to deregulate the market in phases from January 1, 2007.

Delhi Metro claims carbon credits

The United Nations has registered the Metro (guided largely by Managing Director E. Sridharan, pictured alongside) under the clean development mechansim, enabling it to claim carbon credits.

People

A pictorial delight

This has all the makings of a picture-perfect dream. Punj Lloyd’s Chairman Atul Punj has launched the group’s Photographic Foundation and its first limited edition calendar for the year 2008.

Printed Circuit

Music in a box

Nokia sends BT’s reviewer a briefcase full of tech goodies.

Reporters Diary

That sinking feeling

In Madhya Pradesh, Sardar Sarovar oustees are still battling corrupt officials and greedy middlemen to claim fair and prompt rehabilitation.

Special

It's raining IPOs

With a strong line-up of public issues, big demand from investors and bullish secondary market, 2008 promises to be another good year for the primary market.

Still looking good

Yes, the stock markets have been on a roll for four years now and the Sensex is at 20,000 plus. But a surging economy is expected to keep the FIIs interested in India this year.

Top Mind

Global crude prices

Rising crude prices (which have topped $100 per barrel on intraday trade) are playing spoilsport. It’s bad news for the economy as an oil price hike is now a certainty.

MoMo comes to India

What is it? It isn’t steamed Tibetan dumplings; rather, it is short for Mobile Monday.

Now, trade in mini indices

They are derivatives contracts introduced by both NSE and BSE to improve liquidity and attract more retail investors.

Policy Watch

Easier norms for mergers

The government is making efforts to simplify norms for mergers. Under a new proposal, companies may be exempt from seeking High Court sanctions.

TRAI to scrap ADC

Finally, TRAI has decided to do away with the Access Deficit Charge (ADC), a levy paid by private players to BSNL for providing services in the rural areas.

Combating insider trading

SEBI is making renewed efforts to crack down on the menace of insider trading.

News Maker

News Maker - Anand Mahindra

Anand Mahindra, Vice Chairman, Mahindra & Mahindra (M&M), admits that he isn’t a sprightly young man anymore, but the 52-year-old has been tying up deals with a slew of international manufacturers.

Treadmill