Pharmaceutical players will set up plants in major markets, go for more automation and focus on digital marketing

Once known for the books it sold, the e-commerce behemoth has today permeated most lives with products to meet everyday needs - from grocery to gadgets, movies to now even medicines.

The Sharekhan proposal was for selling 100 per cent stake to BNP Paribas, they said. Besides, Foreign Investment Promotion Board (FIPB), headed by Economic Affairs Secretary Shaktikanta Das, cleared the proposal of Perrigo India worth Rs 253 crore.

Energy shares dragged Wall Street slightly lower on Monday, tracking a decline in oil prices, while earnings and guidance from companies including Perrigo and Xerox also weighed on US stocks.

Mylan CEO Heather Bresch says India has been doing a pretty good job with its tax-free development zones. Your CSR model is something the rest of the world should follow. It is a great thing to give back to the country, especially when you are developing.

Mylan is strongly resisting an unsolicited $40 billion bid by Israel-based Teva to acquire Mylan. But on the other hand, it is also pursuing its own $32.7 billion bid to acquire Ireland-based maker of cough and cold remedies.

The company has made an offer to acquire outstanding shares of Mylan at $82 per share, 50 per cent in cash and another 50 per cent in stock.

The cleared proposals included the one worth Rs 303.18 crore by Singapore Airlines to set up a 49:51 joint venture company with Tata Sons to operate domestic and international full service scheduled passenger airline.

Among the other FDI proposals, eight are related to pharma sector. These include, Castleton Investment Ltd, Mauritius - GlaxoSmithKline Pte Ltd, Dastag UK, Perrigo API India Pvt Ltd and Intas Pharmaceuticals.

The government clears four FDI proposals totalling about Rs 1,287 crore, but Swedish furniture major IKEA's proposal for setting up cafeterias in retail outlets was not taken up for consideration.