An out of court settlement reached between Ranbaxy Laboratories, Japan’s Astellas Pharma and Germany’s Boehringer Ingelhelm.
Reached: Between Ranbaxy Laboratories, Japan’s Astellas Pharma and Germany’s Boehringer Ingelhelm, an out of court settlement, on Ranbaxy’s challenge over prostate drug Flomax. Astellas had invented the drug while Boehringer has the licence for the US. In return, Ranbaxy will get the right to sell non-patented copies of tamsulosin, the active ingredient of Flomax, from 2010.
Named: By Financial News weekly, three bankers of Indian origin on its FN-100 Women list, which ranks Europe’s most influential bankers. Julie Chakraverty, the youngest MD at Swiss banking giant UBS; Ina De, European Head of New Equity Issues at JPMorgan; and Rita Dhut, Head of Value Investments at leading UK fund manager Morley Fund Management, made it to the list.
Appointed: By IIM-A, Samir Kumar Barua as Director. He succeeds Bakul Dholakia who stepped down from the post on October 10 on completion of his five-year term. Barua has been on the faculty of IIM-A since 1980.
Emerged: India, as the top private equity destination among emerging countries, with $10 billion inflows so far in 2007. According to cross-border advisory firm Indus View, China attracted $8.3 billion during the same period. China received $13 billion in PE investments in 2006 compared to $7 billion in India.
Increased: By 47 per cent, to Rs 1.28 lakh crore, the direct tax collections till October 2007, compared to Rs 90,000 crore in the corresponding period last year. Corporate tax collections grew by close to 46 per cent and personal income-tax collections, including fringe benefit, securities transaction and banking cash transaction taxes increased by 40 per cent.
Ranked: Four Indian companies, including two of the country’s biggest IT firms, TCS and Infosys, among the world’s 100 biggest technology providers to the global financial services industry. TCS is also the first Indian firm to be named among the top 10 in the FinTech 100 list. iFlex and Patni are the other two Indian companies on this list.