Lupin through its enhanced presence is aiming to become one of the top five generic pharmaceutical companies in Japan in the next three years.
Drug maker Lupin is eyeing a jump of over 80% in its revenues to USD 300 million (about Rs1,557 crore) from the Japanese market in the next two years on the back of its enhanced presence in the country. The company, which is present in Japan through its subsidiary Kyowa Pharmaceutical Industry, has strengthened its presence with the acquisition of I'rom Pharmaceuticals for an undisclosed amount.
"Besides US and India, Japan is a priority market for Lupin, and between the two companies in Japan (Kyowa and I'rom), Lupin looks to clock in revenues of about USD 300 million over the next two years from the present about USD 165 million," Lupin President (Finance & Planning) and CFO S Ramesh told PTI.
Last month, Kyowa had entered into an agreement with I'rom Holdings Co Ltd (IH), an integrated healthcare provider to acquire up to 100% of outstanding shares of its subsidiary, I'rom Pharmaceuticals (IP). Lupin had earlier bought Kyowa in 2007.
The Mumbai-headquartered firm has been strong in the oral segment in Japan and with the new acquisition it would also get access into the injectable space. The company, through its enhanced presence is aiming to become one of the top five generic pharmaceutical companies in Japan in the next three years. Currently, Lupin is the ninth largest generic player in the Japanese market. Apart from Japan, the company is also eyeing to enter other markets, including Latin America and Europe. "In terms of markets of interest we are currently evaluating entries into certain markets in Latin America, Central and Eastern Europe," Ramesh said.
In the early afternoon, Lupin was trading at around Rs433 per share on the Bombay Stock Exchange, 1.84% down from the previous close.
Customers are able to carry out basic banking transactions through mobile phones and even deposit and withdraw cash at appointed Vodafone m-paisa outlets
Banking major HDFC Bank is looking at completing within 15 months the nation-wide roll-out of the MobileBank account 'm-paisa' facility that it launched recently with Vodafone. The m-paisa was inaugurated last month in Rajasthan. "After Rajasthan, we are looking at Orissa and Bihar for roll out of the m-paisa. In another 15 months, we should complete the national roll-out," HDFC managing director Aditya Puri told PTI.
Under the m-paisa arrangement, customers are able to carry out basic banking transactions through mobile phones and even deposit and withdraw cash at appointed Vodafone m-paisa outlets, without having to go to bank branches. "We will also upgrade the m-paisa scheme to enable EMI repayment, merchant payment, credit disbursement and pre-paid airtime soon," Puri said.
The "first-of-its-kind" national initiative for financial inclusion through mobile banking was unveiled in the presence of the Reserve Bank deputy governor K C Chakrabarty in Chomu, near Jaipur, in late November. In Rajasthan, which is the first state where the partnership has been implemented, over 2,200 retailers across 320 villages and 54 towns are already operational in opening HDFC Bank MobileBank Accounts with Vodafone m-paisa. The transactions include cash deposit, cash withdrawal, money transfer and balance enquiry.
"Our aim is to promote viable financing which will be viable for the individual, viable for the bank and viable for the society," Puri said.
Stating that the ministry had received the views of the law ministry, among others, on the matter, telecom secretary R Chandrashekhar said, “The broad view that is emerging is that it is impermissible”
New Delhi: The Telecom ministry today said it will soon take action against service providers that have entered into roaming agreements for third generation (3G) services, as the pacts violate licence terms and conditions, reports PTI.
Stating that the ministry had received the views of the law ministry, among others, on the matter, telecom secretary R Chandrashekhar said, “The broad view that is emerging is that it is impermissible.”
The ministry will soon take action, he added, but declined to give further details.
He was speaking to reporters on the sidelines of an Assocham event here.
The issue pertains to the pact between major service providers, including Bharti Airtel, Vodafone Essar and Idea Cellular, for providing a 3G roaming network on a pan-India basis.
Other service providers, like Tata Teleservices and Aircel, had also entered into similar agreements to offer services in six circles.
The Department of Telecom (DoT) had sought a legal opinion on this matter and the law ministry had also supported the DoT’s view.
In an internal note, the DoT had said the roaming agreement among telecom companies for 3G services would lead to a significant loss of revenue for the government.
There may also be an impact on revenues from spectrum usage charges collected from operators, the note added.
The chiefs of three leading telecom firms—Bharti, Idea and Vodafone—had then sought prime minister Manmohan Singh’s intervention in the dispute over the 3G roaming pact, failing which they said they would surrender spectrum.
Mr Singh, on his part, had assured the industry that the government will look into their concerns and formulate forward-looking policies to sustain growth in the sector.