Abbott Laboratories

Abbott Laboratories' India unit has completed a recall of baby formula products that were manufactured at the company's troubled Michigan facility in the United States, a spokesperson for the company said on Friday.

India is seeking to lure US businesses, including medical devices giant Abbott Laboratories, to relocate from China as President Donald Trump's administration steps up efforts to blame Beijing for its role in the coronavirus pandemic.

The chief executives of Abbott Laboratories and Thermo Fisher Scientific Inc have told Amazon they would like to work with the e-commerce company, though the US government is taking up all of their testing capacity at present

A US-based lab has unveiled a portable test that can tell if someone has COVID-19 in as little as five minutes, it said in a statement Friday.

India has told the US it won't abstain from capping prices for more medical devices, regardless of pressure to rethink its stance after price controls on heart stents and knee implants spoilt the market for some US firms, sources familiar with the matter said

Prices of 56 important medicines used in treatment of cancer, diabetes, bacterial infections and blood pressure have been capped by the government thereby reducing the cost by an average of around 25 per cent.

Shares in the Indian units of US-based drugmakers Pfizer and Abbott Laboratories fell as much as 5 per cent on Monday after authorities imposed a ban on their codeine-based cough syrups, saying they posed a health risk.

The government has brought 18 more drugs, used to treat cancer, inflammation and infections, among others, under price control as part of its efforts to make life saving medicines affordable in the country.

Syngene provides contract drug discovery, research and manufacturing services to 17 of the world's top 20 pharmaceutical companies, including Bristol Myers Squibb & Co and Abbott Laboratories Ltd. Its revenue rose 25 percent in the last three years.

Equity markets were also cheered by comments from People's Bank of China governor Zhou Xiaochuan that warned of disinflation and hinted at further monetary easing measures.

Piramal Enterprises Ltd plans to invest $2 billion (Rs 12,200 crore at 1 dollar = 61 rupees) in real estate projects over the next two years, betting that a revival in the economy under a new government will boost demand for property, its billionaire chief said.

India's pharmaceutical pricing regulator has cut and capped the prices of more than 100 drugs used to treat diseases ranging from diabetes to HIV to malaria, a move likely to hit the profit margins of drug firms like Sanofi SA, Abbott Laboratories and Ranbaxy Laboratories Ltd.

The notice by the National Pharmaceutical Pricing Authority (NPPA), published on its website on Friday, coincides with moves by the health ministry to widen the list of essential medicines which will be subject to a price cap, people familiar with the matter told Reuters last month.

The committee will consider adding more drugs to the National List of Essential Medicines (NLEM), all of which would then come under price controls, one of the people told Reuters.

Global drug makers have had a nauseous time in India's $14-billion market. Prices have dropped and valuable patents have been overruled as the authorities strive to make medicines affordable for the 70 per cent of people living on less than $2 a day.

Abbott Laboratories' India unit has completed a recall of baby formula products that were manufactured at the company's troubled Michigan facility in the United States, a spokesperson for the company said on Friday.

India is seeking to lure US businesses, including medical devices giant Abbott Laboratories, to relocate from China as President Donald Trump's administration steps up efforts to blame Beijing for its role in the coronavirus pandemic.

The chief executives of Abbott Laboratories and Thermo Fisher Scientific Inc have told Amazon they would like to work with the e-commerce company, though the US government is taking up all of their testing capacity at present

A US-based lab has unveiled a portable test that can tell if someone has COVID-19 in as little as five minutes, it said in a statement Friday.

India has told the US it won't abstain from capping prices for more medical devices, regardless of pressure to rethink its stance after price controls on heart stents and knee implants spoilt the market for some US firms, sources familiar with the matter said

Prices of 56 important medicines used in treatment of cancer, diabetes, bacterial infections and blood pressure have been capped by the government thereby reducing the cost by an average of around 25 per cent.

Shares in the Indian units of US-based drugmakers Pfizer and Abbott Laboratories fell as much as 5 per cent on Monday after authorities imposed a ban on their codeine-based cough syrups, saying they posed a health risk.

The government has brought 18 more drugs, used to treat cancer, inflammation and infections, among others, under price control as part of its efforts to make life saving medicines affordable in the country.

Syngene provides contract drug discovery, research and manufacturing services to 17 of the world's top 20 pharmaceutical companies, including Bristol Myers Squibb & Co and Abbott Laboratories Ltd. Its revenue rose 25 percent in the last three years.

Equity markets were also cheered by comments from People's Bank of China governor Zhou Xiaochuan that warned of disinflation and hinted at further monetary easing measures.

Piramal Enterprises Ltd plans to invest $2 billion (Rs 12,200 crore at 1 dollar = 61 rupees) in real estate projects over the next two years, betting that a revival in the economy under a new government will boost demand for property, its billionaire chief said.

India's pharmaceutical pricing regulator has cut and capped the prices of more than 100 drugs used to treat diseases ranging from diabetes to HIV to malaria, a move likely to hit the profit margins of drug firms like Sanofi SA, Abbott Laboratories and Ranbaxy Laboratories Ltd.

The notice by the National Pharmaceutical Pricing Authority (NPPA), published on its website on Friday, coincides with moves by the health ministry to widen the list of essential medicines which will be subject to a price cap, people familiar with the matter told Reuters last month.

The committee will consider adding more drugs to the National List of Essential Medicines (NLEM), all of which would then come under price controls, one of the people told Reuters.

Global drug makers have had a nauseous time in India's $14-billion market. Prices have dropped and valuable patents have been overruled as the authorities strive to make medicines affordable for the 70 per cent of people living on less than $2 a day.