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Industry favours GST, but opposes dual mode
Indian industry is of the view that the proposed Goods and Services Tax (GST) will be beneficial for the economy, but the deadline of April 1, 2010, is not realistic, a leading consulting firm said in its survey.

Subir Roy: Living together separately
One of the nicest things that has happened to Kolkata in recent times is the creation of two new parks around the eastern and southern periphery of Victoria Memorial. Earlier, for most of the year the place used to collect rubble, coming alive once a year for the book fair, only to relapse into being an eyesore.

News of the day

Reading Raju's mind
On January 7, Ramalinga Raju confessed to his monumental fraud. He had, Raju said in a letter to the stock exchanges, cooked Satyam’s books for seven long years — revenue, profit, bank balance et al. Raju was soon arrested and put in the Chanchalguda prison. The Union government swung into action. A board was appointed to manage the affairs of the company. In a matter of months, Satyam was sold to Tech Mahindra.
Management

Dr Reddy's plans to launch Lipitor's generic version in US

Hyderabad-based drug maker Dr Reddy"s Laboratories plans to launch generic version of the world"s largest selling anti-cholesterol medicine "Lipitor" in the US market in the next 2-3 years. - Ranbaxy to launch generic version of Flomax next year - Sun Pharma gets support of Templeton against Taro - Asthma, inflammatory drugs to cost more - Telengana unrest takes toll on AP pharma industry - Taro tells shareholders to keep Sun at bay - Cipla gets NPPA notice on overpricing drugs Lipitor, an anti-choletral drug from pharma major Pfizer Inc"s portfolio, has an annual market sales of over $12 billion (over Rs 56,000 crore). "We have filed an application for approval from the US Food and Drug Administration"s for atorvastatin (the chemical name of Lipitor). Once we get the approval, we would launch it in the US market," Dr Reddy"s Laboratories Chief Operating Officer Satish Reddy told reporters here. According to company officials, the application is not a Para IV filing. Under the new drug application submitted to the US drug regulator"s approval, Para IV filing are those which seeks nod for launching the drug before expiry of patent. Indian pharma major Ranbaxy has resolved a patent dispute with Pfizer and has planned to lauch the same drug in the US market in November 2011 with an 180-days exclusive period. Though, Dr Reddy"s Lab would not get the exclusivity for Lipitor but the company is hopeful about its sales in the US, the world"s largest drug market. "There are still opportunities in Lipitor," Reddy said. According to industry experts, after the expiry of Lipitor"s patent, the sale value of drug would significantly come down from the existing $12 billion annually but in terms of volume it would be one of the best attractive proposition for the generic company.


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