Hyderabad: Nearly three years after acquiring the German pharma sales and marketing company Docpharma NV for $ 263 million (Rs 1,144 crore then), Matrix Laboratories Ltd (MLL), the Hyderabad-based pharma company owned by the US pharma giant Mylan Inc., has decided to hive off the German company.
Matrix Labs had announced acquiring controlling stake in Docpharma on 29 June 2005, which was dubbed as the largest acquisition ever executed by an Indian pharmaceutical company till then.
In an announcement on Thursday, Matrix Labs said its management was authorized to pursue “strategic alternatives for Docpharma including a potential sale.”
Spectrum: ‘give priority to application date’
New Delhi:In what may come as a big relief to Idea Cellular Ltd and Spice Communications Ltd, telecom tribunal Telecom Disputes Settlement and Appellate Tribunal (TDSAT) on Thursday said priority for issuing licences and subsequent spectrum should be considered as per the date of application and not from the date of payment of fee for the radio frequency.
The government, however, said TDSAT has no jurisdiction to hear Idea and Spice’s pleas as they have not yet been awarded licences for some of the circles and the ongoing fight cannot be considered as one between the licensor (government) and the licensee.
“We are only issuing the licences now, not the spectrum. The priority for spectrum allocation is not an immediate issue, these licensees will have to apply at WPC (wireless planning and coordination wing of the department of telecom) separately,” a senior official of the department who did not wish to be quoted told ‘Mint’ over phone. PTI & Staff writer
HC reserves verdict on dual technology row
New Delhi:The Delhi high court on Thursday reserved its judgement on a writ petition filed by GSM lobby group Cellular Operators Association of India (COAI), challenging the Centre’s decision to allow use of dual technology in mobile telephony and allocate spectrum.
In its petition, COAI had requested the court to quash department of telecom’s 18 and 19 October decisions to permit the use of dual technology and acceptance of sectoral regulator Trai’s (Telecom Regulatory Authority of India) recommendation for adoption of an enhanced subscriber-linked criterion for allocation of additional spectrum.
The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) on 12 December had refused to stay the allocation of spectrum. COAI has also challenged TDSAT’s order before the high court. PTI
Virgin Mobile to be launched on Sunday
Mumbai:Tata Teleservices Ltd and British billionaire Richard Branson-owned Virgin Group Ltd are all set to announce the launch of their branded mobile service, Virgin Mobile, on Sunday.
Branson, who promoted the international airline Virgin Atlantic, will make the announcement in Mumbai.
Though details of the new venture were not disclosed, a person close to the development said Branson will invest heavily in the branding exercises and provide youthful content to the new service. Staff Writer