Walgreen the major drugstore chain of late faced pressure from the shareholders to shift overseas so as to lessen its tax bill like many other drug companies have done recently. Walgreen was earlier looking forward to become a part of a possible agreement with Alliance Boots GmbH the European drugstore chain.
Novartis International AG, a Swiss multinational pharmaceutical company based in Basel, was ranked number one in sales among the world-wide industry in 2013.
On Thursday, Bombay Stock Exchange reported a 2% rise in quarterly sales of the company along with an expected future increase in the revenue of the company with the introduction of their new products.
On Saturday, the story of takeover bid of the 63bn AstraZeneca by American pharmaceutical giant Pfizer took a new twist. It appeared that ministers have started discussions in Brussels regarding strengthening UK's capacity to pressurize the American firm to respect its commitment on issues related to jobs and research.
Sun Pharmaceutical Industries Limited, the largest drug maker in India in terms of market value, witnessed a fall in its share price due to an import alert placed on the company by the FDA in the United States. These import restrictions to the United States have been attributed due to non-adherence of manufacturing guidelines in one plant.
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