LIC Raises Stake in Pharma Heavyweight to 7.7%, Latter Up 2% in Weak Market

By Malvika Gurung — The state-owned insurance behemoth Life Insurance Corporation (NS:) of India has raised its shareholding in the pharmaceutical heavyweight Dr. Reddy’s Laboratories (NS:) by over 2% over a period of time. The Hyderabad-based pharma major informed on Monday that LIC has increased its stake in the company to 7.7% from around 5.65%. … Read more

Torrent Pharma to acquire Curatio for Rs 2,000 crore

Chennai, Sep 27 (IANS) The Rs 6,742 crore revenue Torrent Pharmaceuticals Ltd has inked a definitive agreement to acquire city-based Curatio Health Care (I) Private Ltd for a consideration of Rs 2,000 crore. In a regulatory filing, Torrent Pharmaceuticals said that the Rs 224 crore Curatio has a strong presence in the cosmetic dermatology segment … Read more

Here’s Jefferies’ Top Pharma Pick: Target Price Revised, Pegs Upside of 16%

By Malvika Gurung — Global brokerage Jefferies has raised the target price on the domestic pharmaceutical giant Cipla (NS:) and pegs the stock as its most preferred bet in the Indian pharma generics. It has a Buy call on the pharma stock and the target price has been revised from Rs 1,144 apiece to Rs … Read more