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Debt ridden <keyword id="116682" type="COMPANY" weightage="20" keywordseo="Orchid-Chemicals">Orchid Chemicals</keyword> has posted a profit of nearly Rs 272 crore in the quarter ending September 30, 2014 as compared to a loss of Rs 200.34 crore in the corresponding period in 2013. 
	 However, the company has registered a decline in its <keyword id="6398283" type="UNKNOWN" weightage="20" keywordseo="Revenues">revenues</keyword> by Rs 205.48 crore, from Rs 308.47 crore in September 30, 2013 to Rs 174.99 crore in the corresponding period in 2014. 
	 
	“The company has given advances amounting to Rs 596.27 crore to various parties and is outstanding as on September 30, 2014. The company has not received major materials or capital goods from the time these specific advances were given… the company is not able to take delivery due to financial constraints. We are not able to express any opinion on the recoverability of this amount,” the auditors said in their Limited Review report. 
	 
	According to them, “The company has an investments of Rs 94.82 crore and loans of Rs 34.25 crore in a wholly owned subsidiary Bexel Pharmaceutical Inc. The subsidiary has not been spending any money on the research on the molecule during the current period as no financial support is being given by the parent company… In view of the above, it is necessary to impair the value of investment as no information is available with the Company regarding the value that can be recovered from the sale of rights over the molecule possessed by the subsidiary.” 
	 Orchid Chemicals has received an approval for Corporate Debt Restructuring (<keyword id="6354793" type="CITY" weightage="20" keywordseo="CDR">CDR</keyword>) package in March 2014. However, the company still has not received final confirmation of balances from some banks and institutions pertaining to the loans and interest funded. Nevertheless, the company has successfully the transfer of business to the global pharmaceutical giant <keyword id="84942" type="COMPANY" weightage="20" keywordseo="Hospira">Hospira</keyword> in July 2014. 
	 
	“With the implementation of the approved CDR package and the completion of business transfer to Hospira, the operations are getting streamlined with the infusion of working capital into the system. We are confident of the rebuilding process and hope to generate value to the stakeholders in the ensuing quarters,” said K Raghavendra Rao, managing director of Orchid Pharmaceuticals. 
	 
	It should be noted that the company has been reeling under a debt of nearly Rs 940 crore and was among the top 50 defaulters.

Orchid Chemicals Posts Profit While Revenue
Declines

Epi-Pen isn't the only emergency medicine skyrocketing in price

Big Pharma is jacking up the price of the 'antidote' to the overdose crisis

Drug maker <keyword id="63358" type="PERSON" weightage="20" keywordseo="Cadila-Healthcare">Cadila Healthcare</keyword> Limited has clarified that its drugs in the US have been recalled by its US subsidiary, Zydus Pharma USA; it was a class III type recall. The company gave the clarification following a news report that stated that the company had to recall one of its drugs in the US market. 
	 "The recall by our US subsidiary was voluntary and a class-III type recall, which means that the use of the product is not likely to cause any adverse health co<keyword id="6354646" type="CITY" weightage="20" keywordseo="NSE">nse</keyword>quences. There is no material impact”, said the company in a letter to the National Stock Exchange (NSE). 
	 The NSE on December 31, 2014, had sought clarification from the pharma major after a news report suggested that along with Wockhardt and Hospira, Cadila too has voluntarily recalled 58,920 bottles of Benzonatate Capsules—these medicines are used to treat coughs. The US Food and Drug Administration (<keyword id="6354656" type="ORGANIZATION" weightage="20" keywordseo="FDA">FDA</keyword>) had published this information on its website. 
	 
	Representational Image

Cadila Clarifies Voluntary Recall Of Drugs In
The US Market

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Stocks rallied on Thursday ahead of Friday's big January jobs report, which is expected to show the economy added more than 200,000 for the 12th straight month.
First, the scoreboard:
<ul>
<li>Dow: 17,877.8, +204.8, (+1.1%)</li>
<li>S&amp;P 500: 2,062.5, +21, (+1%)</li>
<li>Nasdaq: 4,763.7, +47, (+1%)</li>
</ul>
And now, the top stories on Thursday:
1. Greece is now at the center of world markets. Late Wednesday, the <a href="http://www.businessinsider.com/ecb-lifts-waiver-minimum-credit-rating-greece-2015-2">European Central Bank announced</a> that it would no longer accept Greek sovereign bonds as collateral, reversing an earlier waiver. On Thursday, Greek finance minister Yanis Varoufakis and his German counterpart Wolfgang Schaeuble <a href="http://www.businessinsider.com/greeces-rhetoric-creditors-2015-2">spoke at a news conference</a>, with Varoufakis making a number of strongly worded statements, including: "Germany should understand the most what it's like to be stuck in a gruesome deflation and debt crisis … When I go home today, I will go home to a country where the 3rd biggest party is not a neo-Nazi but a nazi party."
2. Newly elected Greek prime minster Alexis Tsipras <a href="http://www.businessinsider.com/greece-refuses-to-take-orders-2015-2">also addressed</a> the financial screw-tightening from the ECB in a speech on Thursday, saying that, "Greece is no longer the miserable partner who listens to lectures to do its homework. Greece has its own voice." The bottom line though, as Business Insider's <a href="http://www.businessinsider.com/greece-is-running-out-of-cash-2015-2">Mike Bird outlined,</a> is that in a worst-case scenario, Greece's government has about a month's worth of cash left. 
3. After falling as much as 9% on Wednesday, <a href="http://www.businessinsider.com/crude-oil-price-rallies-2015-2">crude oil prices bounced back</a> on Thursday, rising as much as 7% as West Texas Intermediate crude prices moved back above $50 as crude now looks poised for its second straight week of gains. 
4. On Friday morning, we get the premier economic data point of the month: <a href="http://www.businessinsider.com/january-jobs-report-preview-2015-2">the Jobs Report.</a> Expectations are for the unemployment rate to remain unchanged at 5.6% with nonfarm payrolls growing by 230,000. In a note to clients ahead of the report, Goldman Sachs economist David Mericle said he expects payrolls to grow by 210,000 - less than expected - noting that in January, labor market indicators were a bit weaker on balance. If payroll gains exceed 200,000 in January, it would mark the 12th straight month that the US economy hit or exceeded this level. 
5. In central bank news, the Danish central bank - the Danmarks Nationalbank - <a href="http://www.businessinsider.com/danish-central-bank-cuts-rates-2015-2">cut its main deposit rate</a> for the fourth time in three weeks on Thursday, this time taking its deposit rate to -0.75% from -0.50%. The latest cut in interest rates comes as the bank continues to defend its peg for the Danish krone against the euro in the face of a euro that has been steadily declining in value. 
6. The latest weekly report on <a href="http://www.businessinsider.com/initial-jobless-claims-february-5-2015-2">initial jobless claims</a> showed claims rose to 278,000 for the week ended January 31, up from 265,000 the prior week, but marking the first time since April 2000 that claims came in below 280,000 for back-to-back weeks. 
7. The US trade deficit <a href="http://www.businessinsider.com/trade-balance-december-2015-2">unexpectedly ballooned</a> in December, widening to a deficit of $46.6 billion from $39.8 billion in November. Economist had expected the trade balance to narrow to a $38 billion deficit. This marked the largest balance deficit since November 2012.
8. Thursday saw a huge merger in the pharmaceutical industry, with <a href="http://www.businessinsider.com/r-pfizer-to-buy-hospira-for-about-15-billion-2015-2">Pfizer announcing a deal</a> to acquire drugmaker Hospira in a $15 billion deal. The total enterprise value of the deal, including Hospira's long-term debt, is worth $17 billion. 
Don't Miss: <a href="http://www.businessinsider.com/challenger-job-cuts-january-2015-2">21,322 jobs were cut in January due to crashing oil prices »</a>

STOCKS RALLY AHEAD OF THE JOBS REPORT: Here's what you need to know

Thomson ReutersThe death chamber as seen from the viewing room at the state penitentiary in Huntsville, Texas.Arkansas's plan to execute 8 men over the course of 11 days in April hit a road block on Friday when a federal judge <a href="https://www.nytimes.com/2017/04/14/us/arkansas-is-accused-of-deception-in-buying-drug-used-in-executions.html">moved to block all of the executions</a> by issuing a restraining order against the state's use of the drug vecuronium bromide.Arkansas was pushing to do the executions before one of the drugs used as part of the lethal injection expired. Unexpectedly, the leading opponents of the executions were the very companies who produced the drugs. Four companies have spoken out so far about the executions in Arkansas: drug wholesaler McKesson, Pfizer, Freesenius, and West-Ward Pharmaceuticals.There are three drugs typically used in the lethal injection cocktail:<ul><li>Midazolam, which is used as an anesthetic. In medicine, it's used to make people drowsy before surgery and as a way to produce memory loss so patients don't remember painful parts of the procedure. Midazolam is <a href="https://www.themarshallproject.org/2017/04/10/here-are-the-7-men-arkansas-plans-to-execute-this-month#.7YIJcIIk0">the drug set to expire in Arkansas</a>, and it's one of the most controversial because of its role in recent botched executions in which patients remained conscious. </li><li>Vecuronium bromide, which causes paralysis. In medicine, it's used in general anesthesia to relax the skeletal muscles during surgery. </li><li>Potassium chloride, which is used to stop the heart. In medicine it's used to treat low blood potassium levels. </li></ul>Over the last few years, drug companies have started blocking their drugs from being used in executions. These drugs also have other medical uses, which can make it tricky to keep them from making it into state prisons that still carry out the death penalty and to keep them from being used for that purpose.In May, <a href="http://www.businessinsider.com/pfizer-wont-let-its-drugs-be-used-for-lethal-injection-2016-5">Pfizer, which is a manufacturer of these medications among others, became the last pharmaceutical company</a> to block the use of its drugs in lethal injections. That meant that there are no more FDA-approved manufacturers that will supply the drugs used in lethal injections for the death penalty."Pfizer strongly objects to the use of its products as lethal injections for capital punishment," the company said in <a href="http://www.pfizer.com/files/b2b/Global_Policy_Paper_Lethal_Injection_02.03.17.pdf">its lethal injection policy</a>. The move has made it harder for states to get the drugs for the purpose of lethal injection. Pfizer said on Thursday that the drugs in Arkansas were sold to the state's department of correction without the company knowing:"Pfizer did not directly supply the product to the Arkansas Department of Correction (DOC). Without Pfizer's knowledge, McKesson, a distributor, sold the product to the DOC. This was in direct violation of our policy. Pfizer has twice requested that Arkansas return any Hospira or Pfizer manufactured Restricted Product in their possession. In addition, we considered other means by which to secure the return of the product, up to and including legal action."McKesson, the drug wholesaler that sold the vecuronium bromide to Arkansas DOC, refunded the money to the state and issued a restraining order against the DOC from using the drug in lethal injections. That restraining order was withdrawn after the executions were paused."We will continue our efforts to facilitate the return of our product and ensure that it is used in line with our supplier agreement," McKesson said in a statement. Two other drug companies whose drugs may have been used in the executions, Freesenius (the suppliers of the potassium chloride) and West-Ward Pharmaceuticals (thought to be the suppliers of the midozolam), issued a brief as part of a lawsuit <a href="http://www.chicagotribune.com/news/nationworld/ct-arkansas-lethal-injection-drugs-20170413-story.html">aimed at halting</a> the lethal injections. <h3>NOW WATCH: <a href="http://www.businessinsider.com/inmate-prison-hillary-clinton-death-row-penalty-capital-punishment">Watch a former death row inmate who spent 39 years in prison question Clinton on the death penalty</a></h3> Please enable Javascript to watch this video

Big Pharma has become a leader in the fight against the death penalty

Surpassing its domestic and global peers, Cadila Healthcare has come up as the frontrunner to acquire the generic sterile injectables business of Ahmedabad-headquartered <keyword id="356962" type="COMPANY" weightage="80" keywordseo="Claris-Lifesciences-Ltd">Claris Lifesciences Ltd</keyword> (CLL). 
 
As per sources, the last minutes negotiations are underway between the both companies, including tax and other financial matters. A formal announcement is expected next month as the deal has not yet closed. 
 Cadila Healthcare, the <keyword id="270579" type="COMPANY" weightage="80" keywordseo="Zydus-Cadila-Group">Zydus Cadila Group</keyword> flagship, is likely to pay a significant premium, valuing the company between Rs 3,100 crore - Rs 3,400 crore. 
 
For 12 months ending December 31, 2014, Claris Lifesciences business reported revenues of Rs 405.6 crore and EBITDA of Rs 149.4 crore (37% EBITDA margin). 
 
Presently, the market cap of parent Claris Lifesciences including all the different businesses is Rs 1,793 crore. 
 
The Cadila Healthcare spokesperson told ET, as a matter of policy, the company does not comment on market speculation. A Claris spokesperson however denied any such development. 
 
Economic Times in February first reported about the business being put on the block. 
 
The financial daily reported the possible deal underscores amplified interest in the business in the backdrop of a global shortage of injectables -- drugs that are delivered through vials, syringes and bags, as well as pumps. The supply problems have driven many transactions both in India and overseas, including Pfizer's $17 billion takeover of Hospira, earlier this year. 
 
Pankaj Patel-led Cadila had competition from domestic rivals like Lupin who were also pursuing the opportunity to buy the asset, but valuations apart, comfort between the two Gujarat based entrepreneurs is said to have provided extra comfort to Arjun Handa, the promoter, vice-chairman &amp; managing director of CLL. 
 
ET reported both Patel and Handa are from Ahmedabad and have been old industry associates. Even global players like Pfizer, Amneal and Novartis, among others, were initially in the fray, added sources. 
 
One of the sources told ET, if talks with Cadila breaks down at the wire then the prospects of Lupin, another potential contender, to walk away with the asset could improve considerably. 
 
Cadila, among the top five pharmaceuticals companies in the country in terms of revenues --- these amounted to Rs 8,651 crore for year ended 31 March 2015 ---has been acquisitive for a while having executed 17 M&amp;A deals since 1995. 
 
(Image: Indiatimes)

Cadila Healthcare trumps peers, in talks to acquire Claris Lifesciences for whooping Rs 3,400 crore

<div class="KonaFilter image-container float_right"><div class="image">Police PhotoDennis McGuire</div></div>The family of an inmate who reportedly made "<a href="http://www.businessinsider.com/dennis-mcguire-lethal-injection-2014-1">deep, snorting sounds</a>" for roughly 10 minutes after getting a lethal injection has sued the company that made the drugs, <a href="http://hosted.ap.org/dynamic/stories/U/US_DEATH_PENALTY_OHIO?SITE=AP&amp;SECTION=HOME&amp;TEMPLATE=DEFAULT&amp;CTIME=2014-01-25-07-56-15">the Associated Press reports</a>.
Dennis McGuire's execution lasted a total 26 minutes, which the AP noted is longer than any other execution in Ohio since the state resumed executions in 1999. McGuire - a 53-year-old who was convicted of raping and killing a pregnant woman in 1989 - was killed using a never-before-used drug combination. 
Ohio had to resort to the new drug combination because many pharmaceutical companies <a href="http://www.nytimes.com/2013/11/09/us/executions-stall-as-states-seek-different-drugs.html">have stopped making lethal injection drugs</a> due to pressure from death penalty opponents.
The <a href="http://www.dispatch.com/content/stories/local/2014/01/16/mcguire-execution.html">Columbus Dispatch has previously reported</a> that it's not clear that the new drug combination (midazolam, a sedative, and hydromorphone, a morphine derivative) directly caused McGuire's protracted execution or his apparent struggle to breathe for so many minutes.
However, his family says the company that made the drug, <a href="http://www.hospira.com/">Hospira Inc</a>., should have known the drug combo "would cause unnecessary and extreme pain and suffering during the execution process."
McGuire endured "repeated cycles of snorting, gurgling and arching his back, appearing to writhe in pain," the lawsuit said, <a href="http://hosted.ap.org/dynamic/stories/U/US_DEATH_PENALTY_OHIO?SITE=AP&amp;SECTION=HOME&amp;TEMPLATE=DEFAULT&amp;CTIME=2014-01-25-07-56-15">according to the AP</a>. "It looked and sounded as though he was suffocating." The lawsuit is seeking unspecified damages somewhere above $75,000.
Before Ohio tried using the two-drug combo on McGuire, the state had used a single drug called pentobarbital that manufacturers have been refusing to sell recently, <a href="http://www.dispatch.com/content/stories/local/2014/01/16/mcguire-execution.html">according to the Dispatch</a>.

Family Of Inmate Who Choked For 10 Minutes After Lethal Injection Sues Drugmaker

<div class="KonaFilter image-container float_right"><div class="image">Police PhotoDennis McGuire</div></div>After receiving a previously unused lethal injection combination, Dennis McGuire didn't die for 26 minutes - the longest time since Ohio's reinstatement of the death penalty in 1999. And for about ten of those, <a href="http://www.businessinsider.com/dennis-mcguire-lethal-injection-2014-1">he gasped and clutched his chest</a>, possibly in pain.
But McGuire may have faked the turmoil at the end of his life after coaching from his public defender, Robert Lowe at the <a href="http://www.cleveland.com/nation/index.ssf/2014/01/public_defender_accused_of_coa.html">Associated Press</a> reports.
State prison records released Monday show McGuire told guards that his counsel told him to make a show of his death that would, perhaps, lead to abolition of the death penalty, the AP reports.
Three personal accounts from prison officials, however, also indicate that McGuire wouldn't cooperate.
"We have no way of knowing, obviously, because we can't interview Mr. McGuire," Amy Borror, a spokeswoman for the public defender's office, told the AP.
Prison officials had overheard McGuire telling family members that his counsel had encouraged him to make a scene. They alerted Gov. John Kasich's lawyer the night before the execution, according to a statement from the public defender's office, the AP reports.
After a weeklong investigation, Tim Young, the officer's director, however, told the <a href="http://www.dispatch.com/content/stories/local/2014/01/27/officials-investigate-whether-executed-man-faked-suffocation.html">Columbus Dispatch</a> that no one encouraged McGuire to "feign any symptoms."
A media storm naturally followed McGuire's execution, questioning whether states should use replacement drugs (like in McGuire's case) to offset the <a href="http://www.businessinsider.com/lethal-injection-drug-shortage-2013-8">countrywide shortage</a> of the usual injection, pentobarbital. California and Arkansas have already suspended executions until they can find a replacement, according to the <a href="http://www.nytimes.com/2013/08/19/us/death-row-improvises-lacking-lethal-mix.html?pagewanted=2&amp;_r=0&amp;smid=tw-nytimes&amp;partner=rss&amp;emc=rss">New York Times</a>. 
McGuire's family even sued <a href="http://www.hospira.com/">Hospira Inc</a>., the company responsible for creating the drug combo that killed him. His family claims the <a href="http://www.businessinsider.com/dennis-mcguires-family-sues-hospira-2014-1">company should have known the drug combo</a> would cause him extreme and unnecessary pain and suffering. 
McGuire, 53, was sentenced to death for raping and killing a pregnant woman in 1989.

Killer Who Gasped And Clutched His Chest During Execution May Have Faked It After Coaching From His Lawyer

<div class="image-container float_right" style="width:480px"><div class="image">AP Images</div></div><keyword id="647937" type="COMPANY" weightage="60" keywordseo="Abercrombie-Fitch">Abercrombie &amp; Fitch</keyword> CEO Mike Jeffries is one of the most overpaid executives, according to a recent report by shareholder advisory firm <a href="http://www.glasslewis.com/">Glass Lewis</a> about <keyword id="6420527" type="POSITION" weightage="60" keywordseo="executive">executive</keyword> compensation. 
Abercrombie has floundered since 2009, when it nearly didn't turn a profit. Since then, the preppy clothing company has <a href="http://www.businessinsider.com/abercrombie-attempts-to-be-hipster-2013-6">struggled to connect</a> with increasingly alternative customers. 
But through the downturn, Abercrombie has continued giving Jeffries insane perks. 
In 2011, it paid him $4 million to stop using the company jet, according to the report. This year, his compensation package was padded with access to lucrative stock appreciation rights. 
Shareholders are disgruntled about his insane pay—only 23% approved his compensation package at the annual meeting in June. He earned <a href="http://consumerist.com/2013/06/25/abercrombie-fitch-shareholders-vote-against-ceos-xxl-pay-package/">$8.16 million</a> in 2012. 
So how does Abercrombie justify padding Jeffries' benefits, even while the company flounders under his leadership? 
By citing the incredible impact he's had on Abercrombie &amp; Fitch as we know it. 
Jeffries, who has been CEO for about 20 years, is “effectively the founder” of modern-day Abercrombie, the compensation committee said at the meeting. 
Before he took over, Abercrombie <a href="http://www.businessinsider.com/the-rise-and-fall-of-abercrombie-and-fitch-2013-7#af-started-as-a-store-for-outdoorsmen-1">was known as</a> a store for outdoorsman. Jeffries transformed it into a sexy teen destination that was constantly making headlines. 
Still, it's been well over a decade since Abercrombie experienced its heyday.
Most recently, Jeffries has been criticized for his <a href="http://www.businessinsider.com/abercrombie-is-in-trouble-2013-2">flailing international expansion plan</a>, and for hurting brand perception by saying <a href="http://www.businessinsider.com/abercrombie-wants-thin-customers-2013-5">he only wants beautiful people</a> to shop there. 
Abercrombie's compensation committee has given no indication that Jeffries' pay will take a hit as a result of these missteps.
His pay package shows the power he still wields over the brand. 
Here are the 10 companies with the most overpaid execs, according to the report: 
1. Hewlett-Packard 2. Dean Foods 3. Citigroup Inc. 4. Valero Energy 5. Abercrombie &amp; Fitch 6. Lockheed Martin 7. Safeway 8. J.C. Penney 9. Hospira 10. Bank of New York Mellon

How Abercrombie Justifies Paying CEO Mike Jeffries More During A Downturn 

<table class="image-container float_right" width="200"><tr><td><div class="image"></div><a href="http://www.flickr.com/photos/walmartcorporate/5684720360/">Flickr/Wal-Mart Stores</a></td></tr></table>The U.S. economic datapoint everyone has been waiting for — retail sales — will be released tomorrow, and several top companies will also announce earnings.
Here's what you need to know:
<ul>
<li>At 6:50 pm today, the Japanese CGPI, an index measuring the prices of domestic corporate goods, will be released. Analysts surveyed by Bloomberg expect the prices of corporate goods to have fallen by 0.3 percent in January compared to the previous month. In December prices fell by 0.6 percent from November.</li>
<li>At the same time, the Japanese Tertiary Industry Index, which is the monthly change in output produced by Japan's service sector, will be released. Analysts surveyed by Bloomberg expect output to have risen 0.7 percent in December, compared to the previous month. In November, output fell 0.3 percent from October.</li>
<li>At 7 am, the number of mortgage applications filed in the U.S. during the first week of February will be released. The number of applications filed in the last week of January were up 3.4% from the previous week.</li>
<li>At 8:30 am, the much discussed and awaited U.S. advance retail sales number will be released. Analysts surveyed by Bloomberg expect retail sales in the U.S. to have risen 0.1% in January, compared to December. In December, retail sales grew by 0.5% from November.</li>
</ul>
Below are the top companies that will be posting fourth-quarter earnings reports before markets open tomorrow, along with consensus estimates from Bloomberg:
<ul>
<li>Before markets open, food and beverage company Dean Foods Co (DF) is expected to report earnings of $0.29 per share.</li>
<li>Tobacco company Lorillard (LO) is expected to report earnings of $0.76 per share.</li>
<li>Global pharmaceutical and medical device company Hospira Inc (HSP) is expected to report earnings of $0.54 per share.</li>
<li>Power company Calpine Corp (CPN) is expected to report a loss of $0.05 per share.</li>
<li>At 7 AM, agricultural machinery manufacturer Deere &amp; Co (DE) is expected to report earnings of $1.40 per share.</li>
<li>At 7 AM, electric power holding company Duke Energy Corp (DUK) is expected to report earnings of $0.64 per share.</li>
</ul>
<a href="http://www.businessinsider.com/moneygame">Follow all of the news LIVE on Business Insider &gt;</a>

Here Are The Big Market-Moving Events For Wednesday, February 13

The visit of Indian Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> to the US, which had much fanfare around it, has come to an end today. And both India and the US are expecting some humongous results from this visit. 
	 
	The two head of states have discussed various issues spanning across economic, political and cultural arenas. But now, the public at large wants to know what tangible results has this high-profile visit brought back home. BI India lists down a few sectors that may gain substantially from the initiatives discussed during PM Modi’s visit. 
	 
	Infrastructure

	 
	The two-way trade between India and the US has grown five-fold in the past fourteen years to nearly $100 billion. Both India and the US realise that both countries have played pivotal roles in each other’s economic growth. 
	 
	Hence, one of the major developments of this visit has been the setting up of Infrastructure Collaboration Platform. The infrastructure projects have delayed in the country and the decline in the economic growth has only worsened the situation. 
	 
	“They pledged to establish an Infrastructure Collaboration Platform convened by the Ministry of Finance and the Department of Commerce to enhance participation of U.S. companies in infrastructure projects in India,” tellls a joint statement issued after thePrime Minister Modi and President Obama meeting. 
	 
	If reports are to be believed, then several American firms have shown interest in the infrastructure and energy sectors of the country. However, they want clarity and a better understanding of the current scenario in the energy sector following the Supreme Court’s verdict on coal block allocations. 
	 
	Besides, the US has shown keen interest in becoming a partner in development of smart cities in the country. India will welcome two-trade missions in 2015 that will focus on providing US technology and services to meet the country’s infrastructure needs. 
	 
	Capital Markets 
	 
	Since the beginning, India has been heavily dependent on investments by foreign institutional investors. Therefore, the leaders pledged to establish an Indo-U.S. Investment Initiative led by the Ministry of Finance and the Department of Treasury, with special focus on capital market development and financing of infrastructure.

	 Interestingly, <keyword id="214547" type="PERSON" weightage="20" keywordseo="Laurence-D-Fink">Laurence D Fink</keyword>, CEO of the world’s largest investment management firm Blackrock , has promised PM Modi that the firm may invest over $6 billion in India by early next year. In India, the firm is one of the leading mutual funds investment company. Fink, after his meeting with PM Modi will also host the global investors meet in India early next year. 
	 
	Pharmaceuticals 
	 
	There has always been a tussle between the Indian pharma industry and its American counterpart. However, it seems PM Modi has been able to clear apprehensions that most pharma companies in the US have regarding India’s Intellectual Property Rights (IPR) laws. 
	 According to a report, <keyword id="2541954" type="UNKNOWN" weightage="20" keywordseo="Kenneth-Frazier">Kenneth Frazier</keyword>, CEO of pharma major <keyword id="2541955" type="UNKNOWN" weightage="20" keywordseo="Merk-Co">Merk &amp; Co</keyword> and Michael Ball of Hospira had raised the issue of India’s IPR laws. In his response, PM Modi explained that he understands that pharma companies in the US spend a huge amount in the research and development of drugs, while India is producing and selling them at a cheaper price. 
	 
	Manufacturing 
	 
	The staggering manufacturing sector in India may get a tremendous boost if it is able to attract investors in the US. In his meeting with the top corporate honchos of the US, Indian PM Modi has managed to convince them to consider investments in the Indian manufacturing sector. 
	 
	Following their meeting, National Institute of Standards and Technology’s Manufacturing Extension Partnership program is expected to engage with its counterpart in India to develop “best practices in manufacturing and work toward greater harmonization of standards” in the sector. 
	 
	The two countries will also hold public-private discussions early next year to facilitate better technology in the manufacturing sector. 
	 
	While, these are just a few sectors that have been discussed here, the US has shown keen interest in other sectors as well including IT and education.

PM Modi’s
Maiden US Visit Over, India To See Investments Pouring In?

Hundreds of EpiPen users complained about problems with the lifesaving device. It still took 3 years and a top regulator stepping in before serious change - with potentially deadly outcomes

You Searched For "Hospira" and got 13 results

Orchid Chemicals Posts Profit While Revenue Declines

Purba Das

Epi-Pen isn't the only emergency medicine skyrocketing in price

Harrison Jacobs

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