Eli Lilly & Co., a global pharmaceutical company and one of the world's largest corporations. has informed that it has withdrawn its new-drug application to the U.S. Food & Drug Administration (USFDA) for Cymbalta.

The pharmaceutical firm plans to resubmit application in the first half of next calendar year with supplementary data from a recently completed study in chronic osteoarthritis pain of the knee.

Plethico Pharmaceuticals, a leading worldwide pharmaceutical conglomerate, has announced that it has decided to take over 20 percent stake in arm of Tricon Holdings, a leading pharma retail company with sourcing base in the UAE.

Under the conditions of the proposed pact, 20% of the outstanding stocks would be purchased in the arm for a cash of US$ 20 million.

The company is also having a robust emphasis on herbal and neutraceutical segments.

India’s leading drug firm Sun Pharmaceutical Industries Ltd has announced that it’s wholly owned US arm has bought 100 percent ownership of Chattem Chemicals, Inc. (Chattem) from Elcat, Inc, the domestic drug firm.

The conglomerate did not reveal the financial transaction of the acquisition.

According to the sources, US based Chattem is a leading narcotic raw material importer and producer.

Mumbai headquartered Glenmark pharmaceuticals has annpunced that the US affiliate of the company Glenmark Generics has got final sanction from US Food and Drug Administration (USFDA) to sell Ranitidine Hydrochloride on prescription basis.

The approval has been granted for 150 mg and 300 mg dosage of the drug.

According to the sources, Ranitidine is indicated for prevention and developing of ulcer in the stomach. The drug also reduces stomach pain, diarrhea, and loss of appetite that ulcers can cause.

Mumbai headquartered Elder Pharmaceuticals announced that the company has inked a pact with Japanese drug maker Daiwa Pharmaceuticals.

According to sources, under the proposed agreement, the company will make and sell some of the products of Daiwa Pharmaceuticals in the country.

The sources also revealed that Daiwa Pharmaceuticals proposes to roll out its new product ‘IMBRAN’, a nutritional supplement for immunity enhancement, in the Indian market.

Japanese third-largest drug maker Daiichi Sankyo Co announced that it has completed the acquisition of India's Ranbaxy Laboratories Ltd.

According to the sources, the conglomerate has completed the proposed take over by purchasing 63.9% stake of Ranbaxy Laboratories for Rs 19,980 crore (about US$ 4.20 billion).

The sources further revealed that Daiichi Sankyo has entered into pact with the generic drugmaker in June to acquire a stake of at least 50.1% through a tender offer.

The Chennai-based pharmaceutical major, Orchid Chemicals & Pharmaceuticals Ltd has received approvals from the USFDA for three of its ANDAs (Abbreviated New Drug Application) for Cefuroxime for Injection.

The company has received the approval for marketing the drug in the strength of 750 mg & 1.5 g vials (infusion packs), 7.5 g (pharmacy bulk pack) and 1.5 g vial.