Abbott Labs pays 3.7 bn dollars to buy into Mumbai's Piramal Healthcare!Abbott Laboratories will become the largest seller of prescription drugs in India!
The most neglected news item on National TV Channels happen to be Virtual takeover of Indian Health Care by MNCs! Mangalore Air Crash Live Coverage round the clock deleted the space for the most important Corporate Event!United States can't act alone in the world: Obama
Obama's Wall Street "reform" bill passes: US Senate rubber-stamps the dictatorship of the big banksTroubled Galaxy Destroyed Dreams,Chapter 481
Palash Biswas
http://indianholocaustmyfatherslifeandtime.blogspot.com/
Abbott Laboratories will become the largest seller of prescription drugs in India!As Health Tour has replaced public health care as Education system is replaced with Knowledge Economy, Indian Majority Masses who have no Purchasing Power to get treatment in any Efficient Hospital and are made subject to be DEAD Without FIRST AID or Diagnosis, now within the MNC Boom and Foreign Capital Inflow following would have not the money to buy medicines Prescribed!
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Abbott shares gained 16 cents to $46.64 in afternoon trading in New York.Abbott expects pharma sales in India, which are on track to hit $8 billion this year, to more than double by 2015.But Shares of Abbott Laboratories lost ground early Friday after the healthcare products conglomerate announced it plans to buy Indian drug maker Piramal Healthcare's branded generic drugs unit for about $3.7 billion.
Abbott (ABT) shares were down almost 2% at $45.68.
Under the terms of the deal, Abbott will pay $2.12 billion upfront, followed by payments of $400 million annually for the next four years.
Abbott said the acquisition will make it the largest pharmaceutical company in India.
The two leading sector indicators, meanwhile, were split in morning trading. The NYSE Arca Pharmaceutical Index (DRG) dipped 0.8% to 267.55 while the NYSE Arca Biotechnology Index (BTK) was up marginally at 1047.63.
On the small-cap side, shares of Anadys Pharmaceuticals (ANDS) climbed 6% to $2.39.
Early Friday, Anadys released positive interim results from a Phase II clinical trial for its hepatitis C treatment ANA598.
Abbott Labs pays 3.7 bn dollars to buy into Mumbai's Piramal Healthcare! US drug giant Abbott Laboratories has bought into the domestic business of India's Piramal Healthcare for a whopping 3.7 billion dollars.
The most neglected news item on National TV Channels happen to be Virtual takeover of Indian Health Care by MNCs! Mangalore Air Crash Live Coverage round the clock deleted the space for the most important Corporate Event!In Piramal, Abbott will gain a host of branded generic medicines that have lost patent protection in India yet remain top sellers due to loyalty to the brand name.
Obama's Wall Street "reform" bill passes: US Senate rubber-stamps the dictatorship of the big banks!
Facing Recession the United States of America and its leadership adopted the Strategy of Nationalisation and REGULATION in the Financial Sector, but the India Incs Government of Superslaves ruling the Manusmriti Zionsist Hegemony controlled US War Economy Peripherry, first calimed RISILIENCE of the SENSEX Shining Nuclear Hindu EXCLUSIVE Economy and then reversed the economic Policies with large scale Disinvestment and DEREGULATION. India is now FREE Market Democracy in which Excluded Majority Population is subjected to be killed in Unprecedented Economic Ethnic Cleansing described as Inclusion and Inclusive Growth. OBC hedcound has launched a Hate campaign afresh as Demonisation of Abriginal Indigenous Minority Communities continues with Corporate Friend State Power Protected UnprecedentedViolence Flare Up called as Maoist Menace.
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http://beforeitsnews.com/news/47/842/Obamas_Wall_Street_reform_bill_passes:_US_Senate_rubber-stamps_the_dictatorship_of_the_big_banks.htmlUnited States can't act alone in the world: Obama
West Point (New York): President Barack Obama insisted on Saturday that the United States cannot act alone in the world as he outlined a new national security strategy aimed at cementing his break with the Bush era's more unilateral approach.Setting out his vision for keeping America safe as it fights wars in Afghanistan and Iraq, Obama put international cooperation at the centre of his foreign policy, in contrast to what critics derided as the "cowboy diplomacy" of his predecessor, George W Bush.
"The burdens of this century cannot fall on our soldiers alone, it [sic] also cannot fall on American shoulders alone," Obama told graduating cadets at the US Military Academy at West Point. "Our adversaries would like to see America sap its strength by overextending our power."
Obama's aides had cast his speech as a preview of his national security strategy -- a policy document required by law of every US president — before it is released next week.
Bush laid out in 2002 what is commonly known as the 'Bush Doctrine' asserting that the United States would launch pre-emptive war against countries as well as terrorist groups deemed a threat to the United States. What followed was the US-led invasion of Iraq.
The Obama administration has fuelled speculation that the president's new strategy will back away from that controversial concept and instead stress the need to prevent attacks through multilateral ties and sound intelligence.
Though Obama gave no clear signal on this issue in his West Point speech, he did assert that the only reason US forces continued fighting in Afghanistan was because "plotting persists to this day" there by al-Qaeda extremists behind the attacks of September 11, 2001, on the United States.
Obama said the United States must strengthen existing alliances, build new partnerships, and promote human rights worldwide.
"We are clear-eyed about the shortfalls of our international system," he said. "But America has not succeeded by stepping out of the currents of cooperation."
Obama also kept up his outreach to the Muslim world. While accusing al-Qaeda of distorting Islamic values, he avoided using terms like "war on terror" and "Islamo-fascists" that Bush employed regularly and which alienated many Muslims.
"Extremists want a war between America and Islam, but Muslims are a part of our national life," Obama said.
Obama has been widely credited with improving the tone of US foreign policy but is still struggling with serious challenges ranging from nuclear standoffs with Iran and North Korea to sluggish West Asia peace efforts.
Providing a status report on Afghanistan, Obama warned of tough fighting ahead to break the momentum of a resurgent Taliban. "There will be difficult days ahead," the president said. "But we will adapt, we will persist, and I have no doubt that together with our Afghan and international partners, we will succeed in Afghanistan."
When Obama last visited West Point in December, he used it for a televised speech unveiling his plan to send 30,000 more US troops to Afghanistan coupled with a promise to start bringing forces home in July 2011.
The buildup is nearing completion. It is considered vital to a US-led offensive expected in coming months in the Taliban stronghold of Kandahar that could weigh heavily on the success or failure of Obama's approach.
Obama spoke just over a week after hosting Afghanistan's president Hamid Karzai at the White House, where they presented a unified front in a bid to show their differences were behind them.
But that did not mean the Obama administration or US lawmakers, who hold the purse strings, had suddenly gained full confidence in Karzai as a credible partner.
Obama's challenge is to convince a sceptical American public and Congress that the war is worth fighting and funding and to keep Afghanistan from becoming a political liability in a congressional election year.
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Abbott Buys Drug Maker in India for $3.7 BillionNew York Times - - May 21, 2010 Government policy makers from the United States and Europe are concentrating on lowering health care costs, and drug companies that once dismissed generic ... Abbott buys unit of Piramal Healthcare for $3.7B The Associated Press Weekly Market View: A short bounce? Moneylife Personal Finance Magazine Abbott Learns to Say "Low Margin" in Hindi Motley Fool Piramal Healthcare tanks on abnormally high volumeBloombergUTV - May 21, 2010 India's largest cigarette maker by sales ITC surged to record high on bonus issue plan. Shares of pharma firm Piramal Healthcare declined sharply on massive ... All the sectoral indices on BSE in red BloombergUTV Market hits lowest level in almost 3 months BloombergUTV 'I am no friend of any operator'The Hindu - - 19 hours ago Through the postal department, we have introduced India's largest micro life insurance policy. The department is more focused on its core competence and is ... Time to mourn the dead and not to jump the gunGulfNews - - 1 hour ago After surfing through countless news channels, talking to pilots, aviation experts and ATC officials ever since the Air India Express crashed in the morning ... UPA-2's litmus test at year oneThe Daily Star - - 15 minutes ago Ms. Sonia Gandhi has decided to re-establish the National Advisory Council, which might produce good ideas on food security and healthcare. ... Moneylife Foundation discusses insurance safety net with Fali PonchaMoneylife Personal Finance Magazine - 5 hours ago He stressed that people should by insurance policies like health and home insurances and be very clear of the details in the policy. ... India seeks new WHO policy for fake drugsFinancial Express - May 19, 2010 In a related development the union health minister Ghulam Nabi Azad, who is representing India in the meet stated that the Indian vaccines industry is ... WHO: No Evidence Of Misleading On Counterfeit Medicines Intellectual Property Watch (blog) IFPMA launches Ten Principles on Counterfeit Medicines Pharmaceutical Technology Magazine WHA Addresses Counterfeit Medicines Medical News Today (press release)  Email this storyMalaysia calling for Indian biotech cosEconomic Times - May 20, 2010 The move is likely to have great implications for India's biotech policy. Malaysia is positioning itself as a cost-competitive country and a regional hub ... 12 districts of Bihar identified as "highly food insecure"The Hindu - May 21, 2010 ... low female literacy and low access to primary health care. "Its purpose is to whet the appetite for debate among the state's policy-makers on ways of ... Email this storyNovartis plans ayurveda debutBusiness Standard - - May 20, 2010 The Indian consumer clearly has preferred the use of traditional medicine systems and brands while managing healthcare issues. Novartis India will evaluate ... Stay up to date on these results: |
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The deal is part of Abbott's drive to establish itself as a leading emerging market pharmaceutical player and reflects the growing global importance of generics as well as the rise of India's consumer market for drugs.
Abbott, based in North Chicago, Ill., will pay $2.12 billion up front, plus $400 million annually for four years.
The deal will vault Abbott past market leaders Cipla and Ranbaxy to number one in India's fast growing market, with a 7 percent market share.
The deal to buy Piramal's Healthcare Solutions allows Abbott to tap into the second-most-populated country and one of the fastest-growing markets in the world, the North Chicago-based drug giant said Friday.
Pharmaceutical sales alone in emerging markets are growing three times the rate of sales in developed countries, according to industry analysts.
"Emerging markets represent one of the greatest opportunities in health care, not only in pharmaceuticals but across all of our business
segments," said Abbott Chairman and Chief Executive Miles White.
"Today, emerging markets represent more than 20 percent of Abbott's total business."
Fending off competition from other drug companies like Britain's GlaxoSmithKline, Sanofi Aventis and Pfizer, Abbott won the auction bid for Piramal. The deal reflects the heightened interest Western firms have displayed in the rapidly growing Indian drug market.
"It's a race. These markets are so significant in the future growth sources for our industry that it's important for us to be there early and in a meaningful, strong way," the Daily Express quoted Miles White, CEO of Abbott, as saying.
Piramal will retain its manufacturing business which supplies other drug makers around the world, as well as other operations including consumer products and bulk drugs manufacturing.
Analysts at Bernstein Research in New York called the purchase part of Abbott's "next leg of growth" strategy, as the company positions itself should sales slow for products like its flagship drug Humira for rheumatoid arthritis and other autoimmune conditions. Humira accounts for more than $4 billion of Abbott's total annual sales of $30 billion.
Abbott already has made inroads into India, a market of 1.1 billion people and at least $8 billion in annual pharmaceutical sales, which analysts estimate will double by 2015.
Abbott, which also sells medical devices and nutritional supplements, spent much of the past year acquiring small to medium-size medical companies in an effort to diversify its revenue base. The company's best-selling drug Humira currently accounts for more than 30 percent of sales and is due to lose U.S. patent protection in 2017.
Credit Suisse analyst Catherine Arnold said the Piramal deal helps Abbott increase its emerging market presence and roster of established drugs.
"Today's deal is a reasonable next step for Abbott to continue its growth in both areas where Abbott had been lagging behind some of its pharma peers," Arnold said in a research note.
Piramal has India's largest sales force, with a strong network across fast-growing rural areas. Together, the companies will have over 7,500 employees in India.
Abbott said it expects its Indian pharma business with Piramal, which will be incorporated into a new Abbott division created to boost sales outside the U.S., to grow by 20 percent a year, with sales topping $2.5 billion by 2020.
Abbott said it plans to fund the Piramal acquisition with cash from its balance sheet and does not expect it to impact earnings guidance.
"Emerging markets represent one of the greatest opportunities in health care," Abbott chief executive Miles White said in a statement.
Emerging markets now account for over 20 percent of Abbott's business.
Last week, Abbott said it would license at least 24 products from India's Zydus Cadila to sell in emerging markets.
In February, Abbott closed its $6.2 billion acquisition of Belgium's Solvay Pharmaceuticals, which brings it about $850 million a year in emerging markets sales across Eastern Europe, Latin America, the Middle East and Asia.
Abbott is not alone in pushing into places multinational pharmaceutical companies once feared to tread.
"Almost all big pharma companies have decided emerging markets will constitute 30 to 40 percent of growth in the coming decade," Shetty said.
Japan's Daiichi Sankyo paid $4 billion for a majority stake in India's Ranbaxy Laboratories in 2008 and GlaxoSmithKline has acquired exclusive rights to the pipeline of India's Dr. Reddy's Laboratories, which has over 100 generics for sale in emerging markets.
The cross-border friendship between such traditional foes — big pharma and generics makers — has bloomed as cost-conscious markets like India grow and a new appreciation for affordable drugs sweeps cash-strapped Western capitals, analysts say.
Big pharma's main markets — North America, Europe and Japan — are under serious pressure from slowing growth, a raft of patent expirations, and pending policy changes that would promote the use of more affordable generics.
India became a generics powerhouse because of a 1972 decision by then Prime Minister Indira Gandhi not to recognize patents on drug products. That allowed Indian companies to legally copy expensive branded drugs as soon as they came to market, provided they manufactured the drugs in a novel way.
India ended its copycat generics edge in all but exceptional cases in 2005, when it implemented a World Trade Organization guarantee of 20-year patents on new drugs. But the nation's drugmakers still produce roughly one-fifth of the world's generics, according to PricewaterhouseCoopers.
The deal with Abbott, which is still subject to shareholder approval, leaves Piramal Healthcare to reimagine its future.
Piramel will give up the most valuable parts of its healthcare business, leaving an assortment of services including custom manufacturing, over-the-counter consumer products and an affiliated drug discovery company called Piramal Life Sciences Ltd.
Ajay Piramal, head of the Piramal group, sought to reassure shareholders as his stock tanked in Mumbai trading Friday.
Piramal Healthcare closed down 11.8 percent in an otherwise flat market.
He said the company planned to use Abbott's money, after paying 22 percent capital gains tax, to invest in existing and new businesses and would consider a special shareholder dividend.
Earlier this month, Abbott signed a deal with Zydus Cadila to sell a portfolio of the India company's drugs, including generic medicines, in 15 emerging markets.
Terms of the Piramal acquisition call for Abbott to pay $2.1 billion upfront, followed by payments of $400 million annually for four years beginning in 2011.
Abbott Labs pays 3.7 bn dollars to buy into Mumbai's Piramal HealthcareSify - 9 hours ago US drug giant Abbott Laboratories has bought into the domestic business of India's Piramal Healthcare for a whopping 3.7 billion dollars. ... Buy Piramal Healthcare for shareholder returns: Rajesh Jain Economic Times Abbott acquires Piramal's healthcare unit Economic Times Hold Piramal Healthcare; target of Rs 540: PINC Moneycontrol.com Piramal Healthcare overpriced, but a good buy: Shrikanth ShettyEconomic Times - May 21, 2010 What about Piramal Healthcare, it is managing to sustain not too badly, up about 4%? In terms of Piramal Healthcare, Sanofi-Aventis or Pfizer are in talks ... Piramal Healthcare an interesting buy: Sandeep WagleEconomic Times - May 20, 2010 Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, www.aptartindia.com in an interview to ET NOW said Piramal Healthcare is a trading buy. ... Abbott, Piramal Healthcare and NMDC bullish: Vinith JainEconomic Times - May 21, 2010 Vinith Jain, Director, Siddh Capital, in an interview to ET NOW said Abbott and Piramal Healthcare have been doing very good in the markets and being in the ... Piramal Healthcare tanks on abnormally high volumeBloombergUTV - May 21, 2010 Shares of pharma firm Piramal Healthcare declined sharply on massive volumes after the company entered into a pact with US based pharma major Abbott to sell ... Rumble on the street...Sensex Nifty falls 3.3% in the week India Infoline.com Piramal Healthcare in good healthMoneycontrol.com - May 18, 2010 Piramal Healthcare touched an intraday high of Rs 574.90 and an intraday low of Rs 542. At 11:58 hrs the share was quoting at Rs 566.55, up Rs 24.45, ... Piramal Healthcare shares surge 5% on stake sale buzz Financial Express Piramal Health stock on a seesaw ride Economic Times Piramal Healthcare: Founders Not Planning To Sell Stake Wall Street Journal 'Piramal Healthcare has 10-15% upside'Economic Times - May 19, 2010 ET Now caught up with Seshadri Bharathan, MD & CEO, KSEMA Fincon Ltd., to find out his views on the outlook of Piramal Healthcare. Do you think Piramal ... ONGC weak, Pirmal Healthcare pretty good: Deepak MohoniEconomic Times - May 19, 2010 Deepak Mohoni, Director, trendwatchindia.com in an interview to ET NOW said Piramal Healthcare has been in a pretty good uptrend throughout this bull market ... Abbott becomes leading drug seller after Piramal acquisitionEconomic Times - May 21, 2010 21 May 2010, 1556 hrs IST, PTI NEW DELHI: US-pharma major Abbott today announced to acquire Piramal Healthcare for USD 3.72 bn (about Rs 18000 crore) to ... Markets end in red despite recovery ITC Bharti Gail gainMoneycontrol.com - May 21, 2010 Piramal Healthcare, Tata Steel, Tata Motors, Reliance Industries and ICICI Bank were most active shares on NSE. Abbott will buy Piramal Healthcare's health ... Nifty above 4950; ONGC,Gail, Idea, BPCL, ITC shine Moneycontrol.com Email this storyEnter Piramal Healthcare at 420 levels: Ashuu Kakkarr, Market StrategistEconomic Times - May 18, 2010 Ashuu Kakkarr, Technical Analyst, Market Strategist, ashuukakkarr.com, in a chat with ET Now talks about Piramal Healthcare. How does Piramal Healthcare ... A tale of two dealsBusiness Standard - - May 21, 2010 Of course, the Piramals, with over 50 per cent stake in Piramal Healthcare, will be the largest beneficiaries. The other difference is the nature of the ... Pharma Sellout to MNCs – A Case of Creating Shareholder Value or Losing Hold ... India Business Blog (blog) Indian pharma space set for 'MNCisation' Financial Express Email this storyPiramal Healthcare is a sell: Sandeep Wagle, APTART Technical Advisory ServicesEconomic Times - May 12, 2010 Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, in a chat with ET Now talks about Piramal Healthcare and an Adani Enterprises. ... Piramal Healthcare has got very healthy uptrend: Deepak Mohoni ...Economic Times - May 12, 2010 Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Piramal Healthcare. What is your sense of Piramal Healthcare on the charts? ... Adani Ent, Piramal Healthcare, REC in MSCI indexMoneycontrol.com - May 12, 2010 Adani Enterprises, Piramal Healthcare, and Rural Electrification have a weightage of 0.5% each. Idea has a weightage of 0.3% on the MSCI. ... REC, Adani and Piramal included in MSCI India Index Business Standard REC gains on MSCI entry...Piramal, Adani calm India Infoline.com Abbott buys Piramal's formulations businessForbes India - 17 hours ago Ramnath Subbu Shareholders likely to get special dividendTo pursue novel drug discovery and research MUMBAI: Piramal Healthcare on Friday entered into a ... Global Drug MNCs Eye Indian Pharma Majors For Probable AcquisitionEconomy News India - - 7 hours ago Speculations about the next probable target for takeover in the pharmaceutical sector are quite high after Piramal Healthcare\'s generic unit has been taken ... Sanofi to buy Polish drugmaker NepentesEconomic Times - May 19, 2010 Indian TV channels meanwhile reported that Sanofi was in talks to acquire Mumbai-based drugmaker Piramal Healthcare. Pfizer was also reported to be in talks ... Editor's daily M&A storiesAquisitions Monthly - May 21, 2010 Abbott Laboratories Inc will pay $3.72 billion to acquire India's Piramal Healthcare's pharmaceutical solutions business, as global drugmakers look to boost ... Piramal-Healthcare lab lays off 60 staffEconomic Times - May 6, 2010 NEW DELHI: A Piramal Healthcare-owned diagnostic chain has closed down its laboratory in Delhi and laid off about 60 people last week, a person familiar ... Piramal Healthcare closes down diagnostics operations in Delhi Moneylife Personal Finance Magazine Piramal Healthcare looks safe: Deepak Mohoni, trendwatchindia.comEconomic Times - May 4, 2010 Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Piramal Healthcare. This is again just a continuity play. ... Stocks to watch: ICICI Bank,Tata Power, Reliance Infra,Piramal Healthcare ...Economic Times - May 5, 2010 Piramal Healthcare-owned diagnostic chain has closed down its laboratory in Delhi and laid off about 60 people last week. The unit has been making losses ... Borders Group, Dell, Abbott among big moversThe Associated Press - 19 hours ago ITC adds nearly 48.5 lakh shares in open interestMoneycontrol.com - May 21, 2010 Piramal Healthcare, for the last few days, we have been consistently seeing buying happening in the stock, but today it saw a cut of nearly 7 lakh shares. ... Closing BellEconomic Times - May 21, 2010 12:21 pm: Piramal Healthcare Ltd has entered into a definitive agreement with Abbott, US for sale of its domestic formulations business for a consideration ... Firms reach out to staff in personalised way. CheckEconomic Times - May 17, 2010 Mumbai-based pharma major Piramal Healthcare has started a daily employee newspaper where it shares latest company and industry developments. ... Piramal Healthcare Q4 net profit up 34%India Infoline.com - May 9, 2010 Piramal Healthcare Limited has reported fourth quarter (Q4) and full year results for FY2010.Total Operating Income on a consolidated basis for the year ... Piramal Healthcare India Infoline.com US stocks claw higher after Dow dives below 10000AFP - May 21, 2010 Abbott said it would buy Piramal Healthcare Solutions, a leader in the Indian branded generics market, from parent Piramal Healthcare Limited in a ... US Stocks Pare Early Losses; Eurozone Concerns Linger Wall Street Journal Stocks Drop on Economic Fears, Dow Below 10000 FOXBusiness The Week in Review for 21 May 2010Livemint - May 21, 2010 In pharmaceuticals, On Friday Piramal Healthcare agreed to sell its local formulations business to US multinational Abbott. The deal is worth $3.32 billion. ... Piramal HealthcareIndia Infoline.com - May 14, 2010 Piramal Healthcare held an analyst meet in Mumbai to discuss the results for the quarter and year ended March 2010 and way forward. ... Stay up to date on these results: |
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Laila leaves coastal AP in tattersTimes of India - 19 hours ago HYDERABAD: Cyclone Laila on Friday weakened into a depression and further into a low pressure area while moving towards south Orissa even as the state government launched the task of rehabilitating about 75000 displaced people and providing food and ... Cyclone hit areas received an average of 2 inches rainfall per hourThe Hindu - May 21, 2010 PTI THE HINDU An overview of Ongole town inundated due to heavy cyclonic rain on Friday. Photo: Srinivas Kommuri Coastal areas of Andhra Pradesh which bore the brunt of cyclone Laila received an average of about two inches of rainfall per hour, ... Cyclone Laila hits southeast India, 23 killedThe Associated Press - - May 21, 2010 HYDERABAD, India — The death toll from a powerful cyclone that slammed into southeastern India, toppling power lines and triggering landslides, has climbed to 23, a top official said Friday. The storm plunged a large swath of coastal Andhra Pradesh ... Cyclone Laila leaves coastal villagers in need of aidMoneycontrol.com - 6 hours ago Tens of thousands of people need emergency aid after cyclone Laila battered the eastern coast, inundating villages, smashing mud and thatch homes and wiping out vital cash crops, aid workers and government officials say. Reaching wind speeds of up to ... Cyclone Laila hits Andhra Pradesh's fishing businessOneindia - 7 hours ago Visakhapatnam (Andhra Pradesh), May 22 (ANI): The fishing community in the port city of Visakhapatnam is among the worst hit by the 'Cyclone Laila'. Voicing their anxiety over the loss of business they said they did not pay much attention to the ... 23 killed as cyclone Laila batters southern IndiaXinhua - - May 21, 2010 NEW DELHI, May 21 (Xinhua) -- At least 23 people were killed and some reportedly missing over the last two days as a powerful cyclone battered the coastal areas of Andhra Pradesh in southern India, said officials. "Some 23 people were killed while at ... Laila weakens, but could 'emerge' againIndian Express - 21 hours ago Cyclone 'Laila' weakened considerably on Friday and is likely to move towards Orissa during the next 36 hours. However, rains continued to lash coastal districts with squally winds touching speeds of up to 55 kmph. Power supply to 700 villages has not ... Cyclone Laila weakens, leaves 16 deadTimes of India - May 20, 2010 HYDERABAD: Andhra Pradesh heaved a sigh of relief after cyclone Laila weakened ahead of landfall about 30 km from Bapatla in Guntur district on Thursday afternoon but still left 16 people dead, flooded thousands of homes, snapped power supply in many ... Will cyclone 'Laila' puncture the Mumbai's monsoon buildup?Times of India - - May 18, 2010 MUMBAI: The depression that formed over the Bay of Bengal on Monday turned into a full-blown cyclonic storm by Tuesday. Cyclone 'Laila' has got the Indian Meteorological Department (IMD) worried as though it is expected to affect only the eastern coast ... Cyclone Laila looms large, heads for Andhra coastTimes of India - - May 18, 2010 CHENNAI: Cyclone Laila, this year's first cyclone in the making, gathered strength on Tuesday, but Chennai is likely to escape the full fury of the storm, as officials of the Indian Meteorological Department have forecast it would cross the coast ... | Timeline of articles Number of sources covering this story
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Piramal gets Rs 12,000 cr to dabble with
22 May 2010, 0202 hrs IST,ET Bureau ET INTELLIGENCE GROUP After persistent rumours of a sell-out to various multinational pharma players, Piramal Healthcare has finally chosen to hawk its domestic formulations business to US-based Abbott Laboratories. For Piramal, the deal is indeed an attractive one. The domestic business which generates annual revenues aggregating Rs 1,800 crore and having one of the largest sales force in the country is the most profitable part of the business. While divesting it probably may not be the best decision for the company given the size of revenues, selling it at over nine times its revenues means that the company has clinched a good deal. For Piramal Healthcare, this will translate into a large cashpile. The transaction will lead to fund flows of Rs 17,000 crore into the company. Assuming the company pays Rs 3,750 crore towards long-term capital gains tax and utilises a further Rs 1,300 crore for retiring debt on its books, Piramal Healthcare will be left holding free cash of close to Rs 12,000 crore. The company plans to use this cash for paying a special dividend to its shareholders while the balance will be used to fund the growth plans of its remaining businesses of contract manufacturing, critical care, over-the-counter (OTC) products, API business, vitamin and fine chemicals, diagnostic services; devices and clinical research services. The company's management, however, is yet to provide full details about new business areas that it proposes to enter into using the cash pile generated through the sale. The reaction of the street, which appeared to a knee-jerk one, has been negative. The company's stock has shed the gains recorded over the last four trading sessions — sliding over 12%. Piramal Healthcare, trading at a market cap of Rs 11,000 crore, could well see a further drop in its stock price in the near term following the divestment of the company's core business. The cash in hand of close to Rs 12,000 crore may help in propping the stock value in the near term until it declares the special dividend. However, as the company unveils the plans for deployment of cash in the existing and new businesses, there could be greater clarity on future earnings of the company. For investors in Piramal Healthcare, it may make sense to hold on for a while considering that the company is still left with promising businesses such as contract manufacturing and OTC businesses. With the fresh inflow of funds, the company would be in a position to scale up these businesses. The special dividend, which is likely to be quite generous given the size of the deal, may also be a clincher. |
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Buy Piramal Healthcare for shareholder returns: Rajesh Jain
21 May 2010, 1801 hrs IST,ET Now| Rajesh Jain, Market Strategist, in an interview to ET NOW backed purchasing Piramal Healthcare. Lots of companies in the pipeline, as well in this segment, IPOs, real estate, would you touch them with a bargepole or stay away? I think we have discussed this before and I think we have. The issue here is how close to the NAV is your pricing. Which is always difficult to guess? People are giving different estimates, so what is it that you take the proxy for. What you go with is a strong company, a strong management and credibility, and probably a company which has got a mix of projects, not just the affordable housing plank, but also value added segment hotels, SEZs and a little less of froth, and then probably you hope that you have not committed excesses on pricing. Piramal Healthcare - your call on the stock now because this is not just pharma, if at all it could lead to a diversification and how they would be deploying their funds in other businesses as well what they are open to. I think all the positives of this strategic move have come out very well in your discussion. But I think what the market is doing right now is very clearly correcting the excesses of expectations. I think today morning it was one of the gainers in a market which was largely down 2%, I think that's a first correction. The second aspect is that probably the market is expecting the complete lock, stock and barrel sell-off to a much bigger global player and I think media expectations or analyst expectations figured in the 700 to 750 kind of bracket. I don't think that has come through, and whenever you have something like that there is a lot of momentum position that gets built up and after digesting the development, certainly the momentum players or speculators are going to be unwinding. I think that's the selling pressure on the counter, but having said that I think give it another day or two and once that froth subsides and you get to a fair level then it becomes a quality buy in the pharma space because what Mr. Piramal has proved again and again is that they are able to rethink the business model of an existing business, add some very tangible value elements to it and then increase shareholder value. So, if you are buying Piramal Healthcare for shareholder returns it is a thumbs up, and also if you are buying it for the core customer, care and ability to focus your business on what the customer needs and what are markets specific requirements, whether it is in India or abroad, I think Piramal Healthcare has done it all the time. He has also set up a cluster of businesses in the same healthcare pharma domain which are addressing both the emerging aspects of pharma without really hitting the core businesses. So I think its an excellent stock to be in and one should just allow the speculative froth to subside and then buy it. Considering the fact that you believe that the bottom is not too far away, would you deploy money right now? What pockets would you look at deploying? It would be very premature to say that one can even start thinking of the bottom given the global development, but I suspect that what you have seen today and what you will see over the next four days will have the F&O internals playing the upper hand. Let's go back to the April expiry. As soon as April got over, we saw the markets tank in the beginning of May and I think you will have a similar carry forward into the June series. Today, there was a fresh pullback because a lot of shorts were rushing to take profits and also there was an higher element of F&O positions shifting themselves, I think the 4700 mark on the put call ratio. I think the F&O internals will have a bigger hand to play unless global developments are really beyond being manageable. So over the next four days I would certainly not buy anything. But after that the buying has to wait until you get a confirmation from the IMD that the monsoon has arrived. The ideal time for retail to begin buying would be after the Q1 numbers are out because there are lot of tangibles. Let us accept that. Right now if you look at the market there are two conflicting drivers. The first positive drivers for businesses is that a lot of input costs are going down now. You couple that with a good monsoon and you have a volume upside with the margin expansion and you will have tremendous bottom lines. But on the other hand, should the global situation worsen, sectors like capital goods and a host of other such plays, you will start seeing managements coming out and showing up the froth that was getting projected in the order books. |
Market
Duration: 04:24
Posted: 22 May, 2010, 0052 hrs IST
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Posted: 21 May, 2010, 2301 hrs IST
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Posted: 21 May, 2010, 0026 hrs IST
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Indian Pharmaceutical Industry , Indian pharma industry
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Sensex loses 3.2% in week on euro woes, FII outflows
22 May 2010, 0630 hrs IST,REUTERS
Top engineering conglomerate Larsen & Toubro and metal makers led the decline. The 30-share BSE index Sensex closed 0.45% or 74.07 points lower at 16,445.61. It fell as much as 2% in early trade to 16,187.03 points, its lowest since February 25. Nineteen of its components lost ground. Dealers said that bargain hunting at lower levels by domestic investors and a slight recovery in world markets prevented a big slide in domestic stocks. But the near-term outlook for the market was uncertain, they said.
"The situation is pretty volatile, with geographies from euro zone to China having their own set of worries," said Naresh Kumar Garg, chief executive of Sahara Mutual Fund, referring to the euro zone's sovereign debt woes and China's efforts to cool growth, which have lowered risk appetite.
"The concerns are real and it will take time to have more clarity on the issue. In these uncertain times, there is a likelihood of price-earnings multiples of emerging markets slipping a bit."
Foreign funds have withdrawn around $1.3 billion from stocks so far in May, sending the main index down 6.3%. The funds are still net investors of $5.3 billion so far in 2010, following record $17.5 billion inflows last year. Larsen & Toubro shed 2.1%, as traders logged gains.
The stock is still up 5% so far this week, after it reported forecast-beating March quarter results on Monday. The 50-share NSE index Nifty closed 0.3% lower at 4,931.15 points.
US stocks dive, Dow off 376 on world economic worries
21 May 2010, 0328 hrs IST,AGENCIESNEW YORK: Stocks plunged again on Thursday as more investors woke up to the possibility that economic problems such as Europe's debt crisis might spread around the world and stop the growing recovery in the US.
The Dow Jones industrial average fell 376 points, its biggest one-day point drop since February 2009, and all the major indexes were down well over than 3 percent. Meanwhile, interest rates fell sharply in the Treasury market as investors once again sought the safety of US government debt.
With Thursday's drop, the Standard & Poor's 500 index, considered the best indicator of the stock market's performance, is down almost 12 percent from its 2010 high close of 1,217.28, reached April 23. That means the market is officially in what's called a correction, a drop of 10 percent or more from a recent high. This is the first correction since stock indexes hit 12-year lows in March last year. The fact it has occurred in just 19 trading days shows how anxious traders are right now.
Analysts said there was no big event to set off Thursday's selling. More investors seemed to be grasping the possibility that the US recovery could be in jeopardy. And many were wondering whether the stock market's big rebound since March 2009 may not have been entirely justified.
``The economic recovery story has started to look like a mirage and the new reality is a return to credit crunch conditions'' like those seen during the financial crisis, said Tom Samuels, manager of the Palantir Fund in Houston. ``If that's correct, stock prices are well ahead of economic reality.''
Investors are concerned that the debt problems in European nations like Greece and Portugal will spill over to other countries, cause a cascade of massive losses for big banks and in turn halt the economic recovery in countries beyond Europe, including the US They're also worried that China might take steps that will limit its economic growth, which would also affect the US recovery. Analysts said the market is vulnerable to rumors about any of the major economies right now.
Investors appear increasingly convinced that European countries will need to adopt stringent spending cuts to pay down their heavy debt loads, independent market analyst Edward Yardeni said. Such cuts would likely to lead to long economic slump for those countries, a prospect that investors may now be accepting as reality as they sell stocks and the euro, the currency shared by 16 European nations, Yardeni said.
The euro, which has become a key indicator of confidence in Europe's economy, managed to rise to $1.2496 in late afternoon trading, a day after hitting $1.2146, a four-year low. But its advance didn't help stocks.
``The drop in the euro is the initial phase of a long-term, multi-year economic decline in Europe,'' Yardeni said. ``It shows a declining confidence in the workability of the EU (European Union) monetary union, and that's why their stock markets are down.''
``It's starting to look like one of these tragic stories were one person falls through the ice, then everyone else rushes in to help and ends up drowning,'' he added.
Words, and words alone
22 May 2010, 0429 hrs IST,C P Bhambhri,
A self-assured Congress party launched its second journey in 2009, securing 207 seats, compared to 147 in 2004 in the Lok Sabha, with reduced dependence on allies. Moreover, if from a position of weakness, the Congress-led UPA government from 2004 to 2009 could launch a mega pro-poor programme, the National Rural Employment Guarantee Scheme, the relatively-stronger Congress in 2009 could give a big push to social inclusion. The Congress claimed, in its Lok Sabha elections manifesto of 2009, that only it had an agenda of inclusive growth for the whole of India, specifically targeting the socially-excluded groups bypassed by the trickle-down theory. Hence, Congress came out with a revolutionary programme of reservation of 33% seats for women in the Lok Sabha and the state assemblies. Sonia Gandhi employed her political energy and the Women's Reservation Bill was approved in the Rajya Sabha in 2010. The Congress party was confident that with the support of the BJP and the Communists, it will be able to get a seal of approval in the Lok Sabha. However, the Bill could not be introduced. The real pro-poor programme of food security for below-poverty-line rural and urban population has not reached Parliament and it is bogged down in usual bureaucratic discussions on the actual number of people who are below the poverty line. The most important programme of social inclusion in a country inhabited by a large majority of rural and urban poor is to guarantee provision of food to the vulnerable and deprived population . It deserves to be mentioned that democratic governments, even in developed countries, have recognised that the right to food, right to work and right to health are to be guaranteed and ensured by public authorities. Why has the Congress-led UPA government spent the whole year of 2009 to 2010 to legislate on National Food Security Law? It does not bring credit to anyone, least to the Prime Minister's Office, if Sonia Gandhi has to castigate the government for its failure to bring before Parliament a Bill for a guaranteed right to food promised by the Congress manifesto of 2009. Finally, after wasting the whole year of 2009 to 2010, the government has opted for Tendulkar committee's figure of 41% rural population as below poverty line. It is ironic that in a country where huge percentage of food grain is wasted — and not distributed among the starving and semi-starving population because the government has inadequate arrangements for its storage year after year. It has been alleged that the Manmohan Singh government has spent more political energy in dealing with the controversial Civil Liability for Nuclear Damage Bill, 2010, than on seeing through the passage of Food Security Bill in Parliament. It is only on May 7, 2010, that the government has pushed through the Lok Sabha its Bill on Nuclear Damage. The UPA government has completely wasted its first year in office by not even finalising the most important social agenda of food security. The story of the stalled project of social inclusion does not begin or end here. The 21st-century India is witnessing large-scale displacement of rural population from land that is required for mega industrial projects like the setting up of steel plants in Orissa and other states where iron ore is available. The government, especially state governments , are 'acquiring land' for big business for special economic zones and millions of rural poor are getting displaced from their land with a promise of resettlement of those who are evicted. Industrialisation and extraction of rich mineral wealth from the country's dense forest belt, which is inhabited by large forest-dependent tribal population , makes victims of the inhabitants. The UPA government and state governments have 'evicted people from land' in spite of Forest Dwellers' Act and other legal provisions that guarantee legal rights to socially-excluded groups for a legitimate share in the fruits of economic growth of the first decade of the 21st century. Social inclusion project is an ideological and political commitment. The Congress has not moved an inch forward because as a party, it is not really committed to the implementation of programmes targeted for the 'excluded' tribals and others living below the poverty line. The Congress is living in a fool's paradise if it thinks that by exercising governmental powers, it can achieve its social goals because merely putting laws on the statute book, no party can achieve its comprehensive social agenda for inclusion of millions of excluded poor who have already missed the bus. Politics is the main, even primary, force that mobilises deprived social groups to demand from the government implementation of its promises made through laws approved by Parliament . The Congress as a party has not mobilised those who have been 'evicted' from land and have not been 'resettled' because in the absence of political backing, a powerful nexus of bureaucrats , contractors and big business acts as a road block to include the excluded law alone cannot guarantee that citizens can realise their rights. The Congress party has not shown capacity to provide 'political muscle power' behind its government's programme of social inclusion and is satisfied with putting laws on the statute book, especially those concerning the excluded. Law is only an instrument of the government, its impact cannot be felt by the poor if flesh and blood is not provided by political and ideological commitment of the political class. | |
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| Editorial Colours of terrorism: Hindu, Muslim Indian society must now accept the fact that 'Hindu' terrorism is as real as the 'Islamic' one. How far has Bollywood 'crossed over'? Does going international mean shooting in New York or Sydney; or dragging in foreign actors? A Mauritian agenda: Tax treaty benefits Benefits of the Indo-Mauritius tax treaty should go only to geniune residents. | |||
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Global economy can handle Europe strains: Geithner
22 May 2010, 2107 hrs IST,REUTERSTopics: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SHANGHAI: US Treasury Secretary Timothy Geithner said a strengthened global economy is now in better shape to handle the strains emanating from Europe's crisis, China's Xinhua news agency reported on Saturday. "You see some of the challenges in Europe now. But I think we are in a much stronger position to manage those challenges," he told Xinhua in an interview in Washington before heading to Beijing for high-level economic discussions. Geithner also said the dollar was on the rise because confidence was growing about the strength of the US recovery. The US Treasury chief was due to arrive in Beijing on Sunday for meetings of the Strategic and Economic Dialogue, co-chairing the US side with Secretary of State Hillary Clinton. The economic component of the Monday and Tuesday talks are expected to explore ways to better balance the two countries' $400-billion trade ties, steering clear of an open clash about the yuan's peg to the dollar.
The United States still has the world's largest economy and China has the fastest-growing one, so Geithner said cooperation between the two was vital for healthy global growth. "China and the United States are doing what we need to do to help contribute to a broader global economic recovery," he said. The US administration is going to tackle the deficit situation very seriously, Geithner told Xinhua. As he tries to reinvigorate the US economy, President Barack Obama has set a goal of doubling exports in five years, which can be met only with a big increase in sales to China. Geithner said both the US and Chinese economies have undergone a major transformation in recent years and struck a theme that he is expected to pursue by praising rising levels of domestic consumption in China. The Obama administration has been urging China to rely less on exports, and more on increased consumer spending at home, to fuel its economic growth. Geithner also noted that the US economy's expansion now was being led by investment and exports, rather than consumer spending, and that savings were rising. EUROPE CONCERN Europe's debt crisis has become an issue of concern, partly for fear that it might spread to other regions but also because it means a diminished market for exports from countries like China. That has led to speculation that Beijing will be less likely to let its yuan currency rise in value, as the Obama administration was urging, since the euro's decline has made Chinese products more expensive in its top export market. A $1 trillion safety net, provided by EU nations and the International Monetary Fund to stabilise the euro zone -- following a rescue of debt-ridden Greece -- has not stopped the bloc's currency tumbling. Several euro zone governments have followed Athens in announcing or planning austerity measures to shore up their credit ratings and avoid having to seek a Greek-style bailout. But doubts remain about their ability to push through savage spending cuts in the teeth of public opposition. Geithner added last-minute stops in Britain and Germany to his itinerary when the S&ED talks wrap up on Tuesday to discuss conditions with his counterparts in London and Berlin and with European Central Bank President Jean-Claude Trichet in Frankfurt. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
List of pharmaceutical companiesFrom Wikipedia, the free encyclopedia Jump to:navigation, search
The following is a list of the twelve largest pharmaceutical companies ranked here by revenue as of March 2010[update] according to their released 2009 annual reports.
Some data have not been audited yet. Bayer has additional revenue not included here. The missing parts of the table will be added as more data are released by the companies. The comparable revenues in US Dollars were calculated using the average exchange rates in 2009.[14] The following is a list of the twelve largest pharmaceutical companies ranked by revenue as of July 2009[update] in the Fortune Global 500.[1]
[edit] Alphabetical listingIt is limited to those companies notable enough to have articles in Wikipedia.[edit] 1-A
[edit] B-D
[edit] E-L
[edit] M
[edit] N
[edit] O
[edit] P
[edit] R
[edit] S
[edit] T
[edit] U-Z
[edit] See also
[edit] References
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ENVIRONMENTAL CHALLENGE - Few see that India's future depends on its ecological sustainability | |
| POLITICS AND PLAY: Ramachandra Guha | |
| Thirty years ago, a department of environment was set up in the Central government; 25 years ago, this was upgraded into a full-fledged ministry of environment and forests. As we mark these anniversaries, it must be said that the ministers in charge of this ministry have generally been incompetent, or malign, or both. Some might make an exception for Maneka Gandhi, who was minister of state for the environment between 1989 and 1991. However, she was an animal rights activist with no real understanding of the development-environment interface. As minister, she showed little interest in the issues of sustainable water management raised by the Narmada Bachao Andolan; nor did she provide support to sensitive bureaucrats in her own ministry who were seeking to promote decentralized models of forest management. She did, however, concentrate most fiercely on depriving bear-handlers of their traditional means of livelihood. Intellectually speaking, the present incumbent, Jairam Ramesh, is a considerable improvement on Maneka Gandhi, and on all others who have held the post since 1980. Trained in technology, and then in economics and public policy, Ramesh has a sophisticated appreciation of the environmental challenges facing the country. Like perhaps no else in the cabinet, he understands that present models of economic growth, based as they are on scarce fossil fuels and on the chemical contamination of our life-support systems, are simply unsustainable. As an economist, he knows that we have to lift the masses of our people out of poverty; as an environmentalist, he knows that at the same time we have to moderate the demands on the earth of the richer and more wasteful sections of our population. As the last two decades of economic development have demonstrated, the business community in particular and the middle class in general are quite unmindful of the ecological footprint of their lifestyles. Consider the pattern of urbanization in India. Cities extract water, energy and other resources from the hinterland, and give only pollution in exchange. Meanwhile, the urban poor have scant access to safe housing, or to clean water and sanitation. Although these processes impact hundreds of millions of Indians, urban environmental planning — in both its internal and external dimensions — is a subject seriously neglected in the media and in political circles alike. In the year that he has been minister of state for the environment holding independent charge, Ramesh has undertaken some important initiatives. He commissioned the country's leading ecologist, Madhav Gadgil, to assess the research record of the Botanical and Zoological Surveys of India. He appointed, to high positions in the forest department, the best qualified officers, disregarding political lobbying on behalf of lesser candidates. He has drawn attention to the destruction of forests caused by unregulated mining. Unlike some of his predecessors, he has not allowed infrastructure projects to wantonly devastate our national parks. Ramesh's work and record have, however, been undermined by a certain flamboyance and lack of discretion. His recent broadside against convocation robes on behalf of a romantic indigenism was plain silly; and his criticisms of the home ministry when on tour in China were damaging to the credibility of both his party and his government. Such lapses are in keeping with past trends. As an officer on special duty in the prime minister's office in the early 1990s, Ramesh lost his job because he spoke too readily to journalists. A decade later, having just joined the Congress, he was almost thrown out of the party for joking to newsmen about its president's alleged incapacities. It is tempting to see Ramesh as another Shashi Tharoor, as an intelligent and well-read man undone by his own self-regard and lack of judgment. Many people already have. One columnist writes of Ramesh and Tharoor that "these guys are obsessed. Jairam's carefully blow-dried, gently hair-sprayed coiffeur competes with Shashi's side-swept locks and immaculately dyed sideburns. They also share a swagger that goes with their very apparent vanity". At any level other than the superficial, however, this comparison does not wash. Through the 1980s and 1990s, while Tharoor was living overseas, Ramesh worked in public service in India —with, among others, the Planning Commission and the Technology Missions. On the job, and by travelling around the country, he deepened his understanding of the links, positive and negative, between technology and social change. In educating himself about India, he had the benefit of outstanding mentors such as Sam Pitroda and the late Lovraj Kumar. When the United Progressive Alliance government was sworn in last summer, these two hair-obsessed men were given very different assignments. Foreign policy was (and is) kept in the hands of the prime minister, the foreign minister, and the national security adviser. As minister of state for external affairs, Tharoor's responsibilities were limited. On the other hand, Ramesh was put solely in charge of a very important ministry. Although the media focus a great deal on climate change nowadays, we should in fact be even more concerned about the sustainable management of nature and natural resources within the country. For India today is an environmental basket case, and in at least five respects: (1) the rapid depletion of groundwater aquifers; (2) the impending or actual death of our major rivers through household sewage and industrial effluents; (3) the excessively high rates of air pollution in our cities; (4) the unregulated disposal of chemical and toxic waste; and (5) the continuing degradation of our forests and the associated loss of biodiversity. These problems have local, regional, and national impacts. Collectively considered, they raise a huge question pattern against the sustainability of present patterns of agrarian and industrial development. We must therefore become more proactive on the environment in our own national interest, and regardless of our global obligations. It is not enough to stop destructive practices (such as mining in tropical forests); rather, the ministry of environment must nudge other ministries and society at large towards more sustainable forms of resource use. The ministry must take the lead in framing suitable policies in different resource sectors. At the same time, individuals and communities also must take greater responsibility for the consequences of their actions. The environmental crisis in India is many-sided and multi-faceted. It has to be addressed on different fronts and by a variety of different actors. We need to harness scientific and social-scientific expertise to develop and promote eco-friendly technologies in energy, water management, housing, and transportation (among other fields). Scientific innovation needs to be complemented by legislative change as well as by changes in social behaviour. For this, we need new ideas, new innovations, new institutions and, perhaps above all, a more imaginative and less short-sighted political leadership. The future of India, as an economy and as a society, as a nation and as a civilization, depends to a far greater extent on the state of our natural environment than on the state of the Sensex. It is to the credit of Ramesh that he is one of the very few politicians who realizes this. His recent indiscretions should therefore be forgiven — by his party and by the public at large. He should be asked to speak less to the press, and speak more to the very many environmental activists and scholars whose advice and expertise can help his ministry become what it has so rarely been in the three decades of its existence — a genuine force for good. |
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Healthcare in India
From Wikipedia, the free encyclopedia
 | This article may be confusing or unclear to readers. Please help clarify the article; suggestions may be found on the talk page. (September 2009) |
Healthcare in India is the responsibility of constituent states and territories of India. The Constitution charges every state with "raising of the level of nutrition and the standard of living of its people and the improvement of public health as among its primary duties". The National Health Policy was endorsed by the Parliament of India in 1983 and updated in 2002.[1]
The art of Health Care in India can be traced back nearly 3500 years. From the early days of Indian history the Ayurvedic tradition of medicine has been practiced. During the rule of Emperor Ashoka Maurya (third century B.C.E.), schools of learning in the healing arts were created. Many valuable herbs and medicinal combinations were created. Even today many of these continue to be used. During his rein there is evidence that Emperor Ashoka was the first leader in world history to attempt to give health care to all of his citizens, thus it was the India of antiquity which was the first state to give it's citizens national health care.
In recent times India has eradicated mass famines however the country still suffers from high levels of malnutrition and disease especially in rural areas. Water supply and sanitation in India is also a major issue in the country and many Indians in rural areas lack access to proper sanitation facilities and safe drinking water. However, at the same time, India's health care system also includes entities that meet or exceed international quality standards. The medical tourism business in India has been growing in recent years and as such India is a popular destination for medical tourists who receive effective medical treatment at lower costs than in developed countries.
Contents[hide] |
[edit] Healthcare Infrastructure
The Indian healthcare industry is seen to be growing at a rapid pace and is expected to become a US$280 billion industry by 2020 [2]. The Indian healthcare market was estimated at US$35 billion in 2007 and is expected to reach over US$70 billion by 2012 and US$145 billion by 2017 [3]. According to the Investment Commission of India the healthcare sector has experienced phenomenal growth of 12 percent per annum in the last 4 years [4]. Rising income levels and a growing elderly population are all factors that are driving this growth. In addition, changing demographics, disease profiles and the shift from chronic to lifestyle diseases in the country has led to increased spending on healthcare delivery [5].
Even so, the vast majority of the country suffers from a poor standard of healthcare infrastructure which has not kept up with the growing economy. Despite having centers of excellence in healthcare delivery, these facilities are limited and are inadequate in meeting the current healthcare demands. Nearly one million Indians die every year due to inadequate healthcare facilities and 700 million people have no access to specialist care and 80% of specialists live in urban areas. [6]
In order to meet manpower shortages and reach world standards India would require investments of up to $20 billion over the next 5 years [7]. Forty percent of the primary health centers in India are understaffed. According to WHO statistics there are over 250 medical colleges in the modern system of medicine and over 400 in the Indian system of medicine and homeopathy (ISM&H). India produces over 250,000 doctors annually in the modern system of medicine and a similar number of ISM&H practitioners, nurses and para professionals [8]. Better policy regulations and the establishment of public private partnerships are possible solutions to the problem of manpower shortage.
India faces a huge need gap in terms of availability of number of hospital beds per 1000 population. With a world average of 3.96 hospital beds per 1000 population India stands just a little over 0.7 hospital beds per 1000 population.[9]. Moreover, India faces a shortage of doctors, nurses and paramedics that are needed to propel the growing healthcare industry. India is now looking at establishing academic medical centers (AMCs) for the delivery of higher quality care with leading examples of The Manipal Group & All India Institute of Medical Sciences (AIIMS) already in place.
As incomes rise and the number of available financing options in terms of health insurance policies increase, consumers become more and more engaged in making informed decisions about their health and are well aware of the costs associated with those decisions. In order to remain competitive, healthcare providers are now not only looking at improving operational efficiency but are also looking at ways of enhancing patient experience overall.[10]
[edit] Central government role
Critics say that the national policy lacks specific measures to achieve broad stated goals. Particular problems include the failure to integrate health services with wider economic and social development, the lack of nutritional support and sanitation, and the poor participatory involvement at the local level.
Central government efforts at influencing public health have focused on the five-year plans, on coordinated planning with the states, and on sponsoring major health programs. Government expenditures are jointly shared by the central and state governments. Goals and strategies are set through central-state government consultations of the Central Council of Health and Family Welfare. Central government efforts are administered by the Ministry of Health and Family Welfare, which provides both administrative and technical services and manages medical education. States provide public services and health education.
The 1983 National Health Policy is committed to providing health services to all by 2000. In 1983 health care expenditures varied greatly among the states and union territories, from Rs 13 per capita in Bihar to Rs 60 per capita in Himachal Pradesh, and Indian per capita expenditure was low when compared with other Asian countries outside of South Asia. Although government health care spending progressively grew throughout the 1980s, such spending as a percentage of the gross national product (GNP) remained fairly constant. In the meantime, health care spending as a share of total government spending decreased. During the same period, private-sector spending on health care was about 1.5 times as much as government spending.
[edit] Expenditure
In the mid-1990s, health spending amounted to 6% of GDP, one of the highest levels among developing nations. The established per capita spending is around Rs 320 per year with the major input from private households (75%). State governments contribute 15.2%, the central government 5.2%, third-party insurance and employers 3.3%, and municipal government and foreign donors about 1.3, according to a 1995 World Bank study. Of these proportions, 58.7% goes toward primary health care (curative, preventive, and promotive) and 38.8% is spent on secondary and tertiary inpatient care. The rest goes for nonservice costs.
The fifth and sixth five-year plans (FY 1974-78 and FY 1980-84, respectively) included programs to assist delivery of preventive medicine and improve the health status of the rural population. Supplemental nutrition programs and increasing the supply of safe drinking water were high priorities. The sixth plan aimed at training more community health workers and increasing efforts to control communicable diseases. There were also efforts to improve regional imbalances in the distribution of health care resources.
The Seventh Five-Year Plan (FY 1985-89) budgeted Rs 33.9 billion for health, an amount roughly double the outlay of the sixth plan. Health spending as a portion of total plan outlays, however, had declined over the years since the first plan in 1951, from a high of 3.3% of the total plan spending in FY 1951-55 to 1.9% of the total for the seventh plan. Mid-way through the Eighth Five-Year Plan (FY 1992-96), however, health and family welfare was budgeted at Rs 20 billion, or 4.3% of the total plan spending for FY 1994, with an additional Rs 3.6 billion in the nonplan budget.
[edit] Primary services
Health care facilities and personnel increased substantially between the early 1950s and early 1980s, but because of fast population growth, the number of licensed medical practitioners per 10,000 individuals had fallen by the late 1980s to three per 10,000 from the 1981 level of four per 10,000. In 1991 there were approximately ten hospital beds per 10,000 individuals. However for comparison, the in China for comparison there are 1.4 doctors per 1000 people.
Primary health centers are the cornerstone of the rural health care system. By 1991, India had about 22,400 primary health centers, 11,200 hospitals, and 27,400 clinics. These facilities are part of a tiered health care system that funnels more difficult cases into urban hospitals while attempting to provide routine medical care to the vast majority in the countryside. Primary health centers and subcenters rely on trained paramedics to meet most of their needs. The main problems affecting the success of primary health centers are the predominance of clinical and curative concerns over the intended emphasis on preventive work and the reluctance of staff to work in rural areas. In addition, the integration of health services with family planning programs often causes the local population to perceive the primary health centers as hostile to their traditional preference for large families. Therefore, primary health centers often play an adversarial role in local efforts to implement national health policies.
According to data provided in 1989 by the Ministry of Health and Family Welfare, the total number of civilian hospitals for all states and union territories combined was 10,157. In 1991 there was a total of 811,000 hospital and health care facilities beds. The geographical distribution of hospitals varied according to local socio-economic conditions. In India's most populous state, Uttar Pradesh, with a 1991 population of more than 139 million, there were 735 hospitals as of 1990. In Kerala, with a 1991 population of 29 million occupying an area only one-seventh the size of Uttar Pradesh, there were 2,053 hospitals.
Although central government has set a goal of health care for all by 2000, hospitals are distributed unevenly. Private studies of India's total number of hospitals in the early 1990s were more conservative than official Indian data, estimating that in 1992 there were 7,300 hospitals. Of this total, nearly 4,000 were owned and managed by central, state, or local governments. Another 2,000, owned and managed by charitable trusts, received partial support from the government, and the remaining 1,300 hospitals, many of which were relatively small facilities, were owned and managed by the private sector. The use of state-of-the-art medical equipment was primarily limited to urban centers in the early 1990s. A network of regional cancer diagnostic and treatment facilities was being established in the early 1990s in major hospitals that were part of government medical colleges. By 1992 twenty-two such centers were in operation. Most of the 1,300 private hospitals lacked sophisticated medical facilities, although in 1992 approximately 12% possessed state-of-the-art equipment for diagnosis and treatment of all major diseases, including cancer. The fast pace of development of the private medical sector and the burgeoning middle class in the 1990s have led to the emergence of the new concept in India of establishing hospitals and health care facilities on a for-profit basis.
By the late 1980s, there were approximately 128 medical colleges - roughly three times more than in 1950. These medical colleges in 1987 accepted a combined annual class of 14,166 students. Data for 1987 show that there were 320,000 registered medical practitioners and 219,300 registered nurses. Various studies have shown that in both urban and rural areas people preferred to pay and seek the more sophisticated services provided by private physicians rather than use free treatment at public health centers.
Indigenous or traditional medical practitioners continue to practice throughout the country. The two main forms of traditional medicine practised are the ayurvedic system, which deals with mental and spiritual as well as physical well-being, and the unani (or Galenic) herbal medical practice. A vaidya is a practitioner of the ayurvedic tradition, and a hakim is a practitioner of the unani or Greek tradition. These professions are frequently hereditary. A variety of institutions offer training in indigenous medical practice. Only in the late 1970s did official health policy refer to any form of integration between European-trained medical personnel and indigenous medical practitioners. In the early 1990s, there were ninety-eight ayurvedic colleges and seventeen unani colleges operating in both the governmental and non-governmental sectors.
[edit] Health Insurance
The majority of the Indian population is unable to access high quality healthcare provided by private players as a result of high costs. Many are now looking towards insurance companies for providing alternative financing options so that they too may seek better quality healthcare. The opportunity remains huge for insurance providers entering into the Indian healthcare market since75% of expenditure on healthcare in India is still being met by 'out-of-pocket' consumers [11].Even though only 10% of the Indian population today has health insurance coverage, this industry is expected to face tremendous growth over the next few years as a result of several private players that have entered into the market. Health insurance coverage among urban, middle- and upper-class Indians, however, is significantly higher and stands at approximately 50% [12].
The Insurance Regulatory and Development Authority (IRDA) is the governing body responsible for promoting insurance business and introducing insurance regulations in India [13]. The share of public sector companies in health insurance premiums was 76% and that of private sector companies was 24% for the period 2005-06. Health insurance premiums collected over 2005-06 registered a growth of 35% over the previous year [11]. In 2001 the IRDA introduced provisions for Third Party Administrators (TPAs) to support the administration and management of health insurance products offered by insurance companies. TPAs are facilitators in the coordination process between the health insurance provider and the hospital. Currently there are 27 TPAs registered under the IRDA [14].
Health insurance has a way of increasing accessibility to quality healthcare delivery especially for private healthcare providers for whom high cost remains a barrier. In order to encourage foreign health insurers to enter the Indian market the government has recently proposed to raise the foreign direct investment (FDI) limit in insurance from 26% to 49% [15]. Increasing health insurance penetration and ensuring affordable premium rates are necessary to drive the health insurance market in India.
[edit] Co-operative Movement in Healthcare
- Foundation and Progress of Co-operative Effort
Health care today is at crossroads. It is proving beyond the reach of common man especially low and middle income group. It is estimated that around 10% to 12% of family income needs to be spent on taking care of emergency health care needs and age old problems. The emergency and specialty care is well beyond the reach of an average citizen. The awareness to create financial capability is shockingly lacking.
Shushrusha Citizens' Co-operative Hospital, Shivaji Park, Mumbai is a unique experiment who offers total health care, including super-specialty care at affordable cost based on the principle of health care as a right without exploitation with self participation and health care which is governed by four A's
.......... Accessible, Available on Demand, Affordable and Accountable.
A path breaking venture in this regard was started to put up and run a hospital on co-operative basis managed by members who joined to form a Society, establish the hospital and run it for the people. Shushrusha Citizens' Co-operative Hospital was thus set up about 40 years ago in Mumbai by late Dr. V. S. Ranadive. There are doctors' co-operatives elsewhere. However Shushrusha is not a doctor's co-operative. It is a hospital built through the organised efforts of citizens and equipped by them through their own funds, managed professionally on competent basis. This is the essence of co-operative movement in its true sense in providing medical care.
[edit] Issues
[edit] Disease
India suffers from high levels of disease including Malaria[16], and Tuberculosis where one third of the world's tuberculosis cases are in India [17]. In addition, India along with Nigera, Pakistan and Afghanistan is one of the four countries worldwide where polio has not as yet been eradicated.
Ongoing government of India education about HIV has led to decreases in the spread of HIV in recent years. The number of people living with AIDS in India is estimated to be between 2 and 3 million. However in terms of the total population this is a small number. The country has had a sharp decrease in the estimated number of HIV infections; 2005 reports had claimed that there were 5.2 million to 5.7 million people afflicted with the virus. The new figures are supported by the World Health Organization and UNAIDS.[18][19][20]
[edit] Pollution
According to the World Health Organization 900,000 Indians die each year from drinking contaminated water and breathing in polluted air [21]. As India grapples with these basic issues, new challenges are emerging for example there is a rise in chronic adult diseases such as cardiovascular illnesses and diabetes as a consequence of changing lifestyles [22].
[edit] Malnutrition
Half of children in India are underweight, one of the highest rates in the world and nearly same as Sub-Saharan Africa.[23] India contributes to about 5.6 million child deaths every year, more than half the world's total.[24]
[edit] Water and sanitation
Water supply and sanitation in India is a matter of concern. As of 2003, it was estimated that only 30% of India's wastewater was being treated, with the remainder flowing into rivers or groundwater.[25] The lack of toilet facilities in many areas also presents a major health risk; open defecation is widespread even in urban areas of India,[26][27] and it was estimated in 2002 by the World Health Organisation that around 700,000 Indians die each year from diarrhoea.[25] No city in India has full-day water supply. Most cities supply water only a few hours a day.[28] In towns and rural areas the situation is even worse.
[edit] Medical Tourism
India is quickly becoming a hub for medical tourists seeking quality healthcare at an affordable cost. Nearly 4,50,000 foreigners sought medical treatment in India last year with Singapore not too far behind and Thailand in the lead with over a million medical tourists [29]. As the Indian healthcare delivery system strives to match international standards the Indian healthcare industry will be able to tap into a substantial portion of the medical tourism market. Already 13 Indian hospitals have been accredited by the Joint Commission International (JCI). Accreditation and compliance with quality expectations are important since they provide tourists with confidence that the services are meeting international standards. Reduced costs, access to the latest medical technology, growing compliance to international quality standards and ease of communication all work towards India's advantage.
It is not uncommon to see citizens of other nations seek high quality medical care in the US over the past several decades; however in recent times the pattern seems to be reversing. As healthcare costs in the US are rising, price sensitivity is soaring and people are looking at medical value travel as a viable alternative option. In the past the growth potential of the medical travel industry in India has been hindered by capacity and infrastructure constraints but that situation is now changing with strong economic progress in India as well as in other developing nations [30]. With more and more hospitals receiving JCI accreditations outside the US, concerns on safety and quality of care are becoming less of an issue for those choosing to travel for medical treatment at an affordable cost. The combined cost of travel and treatment in India is still a fraction of the amount spent on just medical treatment alone in western countries.
In order to attract foreign patients many Indian hospitals are promoting their international quality of healthcare delivery by turning to international accreditation agencies to standardize their protocols and obtain the required approvals on safety and quality of care [31].
[edit] Rate of growth
India has approximately 600,000 allopathic doctors registered to practice medicine. This number however, is higher than the actual number practicing because it includes doctors who have emigrated to other countries as well as doctors who have died. India licenses 18,000 new doctors a year.[32].
[edit] See also
- Environment of India
- HIV/AIDS in India
- Indian states ranking by institutional delivery
- Poverty in India
[edit] References
- ^ NATIONAL HEALTH POLICY - 2002
- ^ http://www.indianhealthcare.in/index.php?option=com_content&view=article&catid=131&id=168%3AIndian+Healthcare:+The+Growth+Story
- ^ http://www.ibef.org/industry/healthcare.aspx
- ^ http://cii.in/menu_content.php?menu_id=238
- ^ http://knowledge.wharton.upenn.edu/india/article.cfm?articleid=4277
- ^ http://economictimes.indiatimes.com/Healthcare/Lacking_healthcare_a_million_Indians_die_every_year_Oxford_University/articleshow/4066183.cms
- ^ http://knowledge.wharton.upenn.edu/india/article.cfm;jsessionid=a830ad0556799af14ed03640274d5d3a1b70?articleid=4277
- ^ http://searo.who.int/EN/Section313/Section1519_10852.htm
- ^ http://www.technopak.com/tkc/index.asp?ol=5
- ^ http://www.technopak.com/tkc/index.asp?ol=6
- ^ a b http://www.technopak.com/tkc/index.asp?ol=8
- ^ "Healthcare in India". Boston Analytics. http://bostonanalytics.com/india_watch/Healthcare%20in%20India%20Executive%20Summary.pdf.
- ^ http://www.irdaindia.org/
- ^ http://www.indianhealthcare.in/index.php?option=com_content&view=article&catid=121&id=170
- ^ http://www.indianhealthcare.in/index.php?option=com_content&view=article&catid=39:&id=330:MALVINDER,+SHIVINDER+PLAN+TO+ENTER+HEALTH+INSURANCE+BIZ+&Itemid=
- ^ "Status of Malaria in India". http://medind.nic.in/jac/t00/i1/jact00i1p19.pdf.
- ^ [1]
- ^ "2.5 million people in India living with Aids, according to new estimates". New York Times. http://data.unaids.org/pub/PressRelease/2007/070706_indiapressrelease_en.pdf. Retrieved 2007-06-08.
- ^ 'Sharp drop' in India Aids levels, BBC
- ^ "2.5 million people in India living with HIV, according to new estimates". World Heath Organization. http://www.who.int/mediacentre/news/releases/2007/pr37/en/index.html. Retrieved 2007-06-08.
- ^ Robinson, Simon (2008-05-01). "India's Medical Emergency". Time. http://www.time.com/time/nation/article/0,8599,1736516,00.html. Retrieved 2010-05-04.
- ^ http://www.worldbank.org.in/WBSITE/EXTERNAL/COUNTRIES/SOUTHASIAEXT/INDIAEXTN/0,,contentMDK:21461167~pagePK:141137~piPK:141127~theSitePK:295584,00.html
- ^ "India: Undernourished Children: A Call for Reform and Action". World Bank. http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/SOUTHASIAEXT/0,,contentMDK:20916955~pagePK:146736~piPK:146830~theSitePK:223547,00.html.
- ^ "'Hunger critical' in South Asia". BBC. 2006-10-13. http://news.bbc.co.uk/2/hi/south_asia/6046718.stm. Retrieved 2010-01-05.
- ^ a b Using shame to change sanitary habits, Los Angeles Times, 6 September 2007
- ^ The Politics of Toilets, Boloji
- ^ Mumbai Slum: Dharavi, National Geographic, May 2007
- ^ "Development Policy Review". World Bank. http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/SOUTHASIAEXT/0,,contentMDK:20980493~pagePK:146736~piPK:146830~theSitePK:223547,00.html.
- ^ http://www.indianhealthcare.in/index.php?option=com_content&view=article&catid=39%3A&id=327%3AINDIA+TURNING+AFFORDABLE,+QUALITY+OPTION+FOR+MEDICAL+TOURISTS&Itemid=
- ^ http://www.indianhealthcare.in/index.php?option=com_content&view=article&catid=131&id=168&start=2
- ^ http://www.indianhealthcare.in/index.php?option=com_content&view=article&catid=122&id=173
- ^ http://202.131.96.59:8080/dspace/bitstream/123456789/113/1/Medical+Tourism-Pheba+Chacko.pdf
This article incorporates public domain material from websites or documents of the Library of Congress Country Studies.
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- Healthcare in India Presentation
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Rakuten is buying Buy.com of the U.S. for $250 million. Japan's top e-commerce site is looking to expand overseas, earlier announcing a joint venture with Baidu of China.
Bankers Push Review of Japan Post Plan
Japanese bankers are ramping up pressure on the government to abide by the WTO's findings on how the country's massive Japan Post will be reformed.
Japan's Wobbly Recovery
Japan is recovering, but on a shaky leg. Exports, the biggest contributor to growth, are under a cloud thanks to the euro zone debt crisis.
Weekend Asia
Ten Things to See During Hong Kong's Art Week
The Hong Kong International Art Fair is set to transform the city with a week of world-class events. Here are 10 things worth seeing.
Singapore Bling
Newly open Singapore FreePort, a super-secure storage space that operates in its own duty-free zone next to the airport, is a piece of the city-state's strategy to draw those elusive high-net-worth individuals—and their money.
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China Real Time Report
- Some Roads to U.S. Electric-Car Batteries Go Via China
U.S. Commerce Secretary Gary Locke's visit Saturday to Tianjin highlighted a shift in the balance of power in high technology, showing that in some areas such as advanced battery technology the U.S. is having to turn to China.
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Crash Raises Issue of India's Aviation OversightNew York Times - - 1 hour ago MUMBAI, India — An Air India flight carrying 166 people that crashed moments after landing in southern India on Saturday, killing almost everyone on board, has raised questions about India's oversight of a rapidly ... India air crash kills 158 peopleBBC News - 1 hour ago Indian Aviation Minister Praful Patel has said he feels "morally responsible" for the crash of an passenger jet at Mangalore's Bajpe airport. Indian officials say there were just eight survivors from 166 passengers and crew on board Air India Express ... Crash casts shadow on India's air safety recordBBC News - 1 hour ago The crash of Air India Express Flight 812 has cast a shadow over India's relatively decent air safety record. It is the first crash in nearly ten years and the worst since 1996, when a mid-air collision between two passenger planes near Delhi left 349 ...
About 159 Dead In Air India Plane CrashVoice of America - - 2 hours ago Photo: AP An Air India passenger plane has crashed while trying to land in southern India, killing about 159 people on board. It is the worst air accident in India in over a decade. The plane crashed as it overshot the runway after landing in the ... India jet crash leaves more than 150 dead in MangaloreThe Guardian - 10 minutes ago More than 150 people died in an air disaster in southern India on Saturday. There were seven survivors from the Boeing 737 which overshot a "tabletop" runway in pre-monsoon rains and plunged into the jungle, breaking in two and bursting into flames. ... Indian air crash: survivors tell of miracle escapesTelegraph.co.uk - - 1 hour ago Survivors of a plane crash in Mangalore, India which claimed 158 lives have spoken of their extraordinary escape from the broken and burning fuselage. The Air India Express flight careered out of control and skidded off the runway moments after it ... Indian plane crash kills 158; 8 surviveWashington Post - 3 minutes ago The Boeing 727 from Dubai was carrying 160 passengers and six crew members when it overshot a table-top runway and tumbled off a cliff into a valley. The crash took place outside the city of Mangalore in southern India. Firefighters rush a child from ... What really went wrong in Mangalore crashIBNLive.com - 1 hour ago Mangalore: So what really went wrong that the Air India Express aircraft crashed at the Mangalore airport, killing 158 people on Saturday morning. According to survivors, eyewitnesses and ATC sources, the problems started after the aircraft started ... Rescue operations in Mangalore crash stopped: DGCAOneindia - 58 minutes ago Mangalore /New Delhi, May 22 (ANI): The Director General of Civil Aviation (DGCA) on Saturday evening said rescue operations have been halted and the bodies of all the 158 people killed the Air India Express Flight crash have been recovered. ... Praful Patel says 'morally responsible' for air crashEconomic Times - 1 hour ago NEW DELHI: Aviation Minister Praful Patel said he felt "morally responsible" for Saturday's Air India crash that claimed 158 lives, but declined to confirm reports that he had offered to resign. "As head of the civil aviation family I feel very ... | Timeline of articles Number of sources covering this story
ImagesThe Guardian Washington Post Mangalorean.com Oneindia  New York Times NDTV.com NDTV.com dailynews365 The Hindu Videos How did the plane crash in Mangalore? NewsX - 2 hours ago Watch video  Plane Crashes in India, 158 Feared Dead, 8 Alive The Associated Press - 3 hours ago Watch video  Air India jet crashes in Mangalore Al Jazeera - 3 hours ago Watch video  Who is to blame for Mangalore air crash? NewsX - 4 hours ago Watch video  166 killed in India plane crash ntvkenya - 5 hours ago Watch video |
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