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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (4745)	6/26/1999 4:52:00 PM
From: Mohan Marette	Respond to of 12475

Bengali and proud of it,you got a problem with that????? Photos by Uddhav Thackeray. uddhavthackeray.com uddhavthackeray.com

To: Mohan Marette who wrote (4745)	6/27/1999 9:28:00 PM
From: Mohan Marette	Respond to of 12475

Ranbaxy "delivers drugs" to Bayer-Deal said to be worth $100 mil+ 10% Royalties Ranbaxy Home Bayer AG Home ranbaxy.com + bayer.com Ranbaxy to rake in $100 million for drug delivery system (Monday, June 28, 1999) Our Markets Bureau in Mumbai Ranbaxy Laboratories has indicated to leading brokerage firms that it has successfully developed a novel drug delivery system (NDDS) for ciproflaxacin and is currently in dialogue with a multinational to licence it. According to sources, Ranbaxy Labs will receive $100 million from Bayer AG over a period of two years as payment for the NDDS. The company will also receive 10 per cent royalty on the sales of the product over a period of 15 years from 2002 onwards. Ranbaxy Labs is understood to be signing a deal with German pharma major Bayer AG for supplying a NDDS modification of the ciproflaxacin product. The deal will be made public in the next two months. When contacted, a Ranbaxy spokesperson said that she was not aware of any such deal. Ranbaxy is understood to have applied for a product patent for the ciproflaxacin NDDS and the deal is likely to be conditional on the patent being granted. Leading brokerage houses have re-rated the Ranbaxy stock to a "buy" recommendation on the basis of these developments. Analysts said the deal could lead to a significant upside in potential earning over the long-term. Some have even revised the company's earnings per share in light of this new development. For the current financial year, the earnings per share estimates have been raised by 22 per cent, said an analyst. Industry watchers said that the deal was also significant for Bayer as the anti-infective ciproflaxacin was its main product and accounts for one-third of all pharmaceutical sales of the German company. Since the product goes off patent in 2001 in the US and 2003 in Germany, Bayer plans to enter the international market with the novel dosage ahead of generic copies of the drug. The Ranbaxy stock, which has been the subject of various rumours and speculation over the past few months, closed at Rs 668.50, up Rs 15 from its previous close of Rs 653.