Strides Founder Takes Backseat Role As Profit Surges
Strides Shasun’s founder Arun Kumar has said he will take a backseat strategic role as the Indian pharma firm moves into ‘Version 2’ of its avatar, and will let new leadership drive the company to the ‘next level’ after fourth-quarter earnings nearly tripled.
You may also be interested in...
Strides Shasun has reported third-quarter net profit plunged by 57% but the Indian firm says performance will improve in coming quarters thanks to its regulated market focus, and analysts agree earnings look set to rise.
The US Supreme Court has lifted a stay on document discovery in a multi-state lawsuit in which dozens of generics companies – including Teva, Mylan and Pfizer – are accused of price fixing. The ruling will allow a swathe of documents to be released in what Connecticut’s attorney general has said is potentially “the largest cartel case” in US history.
Daraprim, which saw its price jacked up by 4,000% by former drug company executive Martin Shkreli, now has a competitor with the US Food and Drug Administration’s approval of the first generic version of the nearly seven-decade-old drug used to treat a life-threatening parasitic infection known as toxoplasmosis.