July 2013
Huge Retail Price Gap between MNC Glaxo Drug & Indian Mankind Pharma marketed similar Drug
Am down with a severe toothache for past two days and have been advised Augmentin 625 Medication by the Dentist ~ it’s all my fault for neglecting an annual dental check up ~ I always rush when my teeth painfully remind me that they exist ! ~and this situation arises every two years and thus Augmentin 625 is not a new prescription for me !
Glaxo makes Augmentin 625 and it retails in Mumbai for Rs 266 for a strip of six tabs ~ Basically it’s a Amoxycillin & Potassium Clavulanate Formulation
The Indian Brands are Clavmentin by Wockhardt and the Moxikind -CV 625 marketed by Mankind Pharma Ltd and made by Copmed Pharmaceuticals Pvt Ltd
Got to take Two a day and I ran out of Clavmentin and the Chemist had both Augmentin (Rs 266) & Moxikind-CV 625 which retails at just Rs 75 for 6 tabs !
I chose Moxikind-CV 625 for Rs 75 rather than paying Rs 266 for Augmentin 625 !
I chose Mankind Pharma over Glaxo !
The Chemist and a Close Friend who has done his B Pharm say I’m not really compromising as the tablets have a similar composition and the Indian Drug Industry is regulated even though pirated and adulterated drugs scenario exists ~ Buy from reputed Chemists and insist on a Bill that details the Strips batch number and other details
I am sure there are many Drug Formulations,which go off patent and become generic, where a Cheaper Indian Company Option exists
Update on Morning of Thursday,August 1,2013
Not too sure about the efficacy of Moxikind as I yet don’t feel the relief on third day after having it ~ whereas Augmentin was pretty effective by the third day ~ Anurag & Mayur you make good points ~ also what scares me is the recent US Warning issued for Imports from Wockhardt’s Waluj Plant and that the formulations may be adulterated and this morning news of even the dreaded ‘483’ show cause letter from US FDA to Strides Arcolab for one of it’s injectibles ~this is a precursor to issuing a warning if the response is not recieved or not accepted ~ so Anil,one cannot blame us Indians too to rely on the MNC Pharma Company Retailed Drugs
Further Update on Afternoon of Thursday,August 1,2013
My Dentist confirms ,after having had a look,that I need to shift to Orni O 500 mg from Augmentin~ so maybe I was being unkind to Moxikind !
TATA Group ~ How to Instantly increase current Market Cap from US $ 92 Billion !?
😎 You will surely find this perspective,linked below and just uploaded in the freely accessible Scrip Standpoint Module on my company website, quite quite cool & interesting and can draw your own inferences and conclusions on how TCS places the TATA Group in a relatively better position than most Business Groups despite High Debt Positions and continuing Challenges in the Auto,Power and Steel Space ~ and how the Group can put in play the TCS Advantage
TATA Group ~ How to Instantly increase current Market Cap from US $ 92 Billion !? ~ 29-Jul-2013
🙂 Now how do we get the ‘cost conscious and hands on’ Tata Group Chairman,Cyrus Mistry too thinking on these lines !
Feedback is welcome
Stripping or Stealing the Listed Company of Assets ! ~ How Promoters are suspected to do it and Auditors suspected to allow it !
You’ve heard of Naked Speculation ! but have you heard of Naked Companies that have been rendered so because they were stripped off their Assets by their Own Promoters !!!?
Have always known how Indian Corporates ,even some of the well known names, indulge in siphoning off funds and stripping and stealing assets of the companies they have promoted or taken over !
In fact this reality is well captured in the tagline for my blog ” In India,Companies may fall sick but Promoters rarely do !”
But this one takes the Cake ! ~ the Kolkata based Listed Company Vikash Metal & Power ~ Business Standard highlighted this in it’s edition yesterday ~The great Indian listed firm robbery
Vikash Metal & Power says on April 12,2012, it lost a building and other stuff worth Rs 90 cr to an “incident of robbery” and auditors have simply remarked that the Fixed Asset Registers were not shown to them rather than raising deeper questions on this ! ~ the thieves also took away the registers where the company had recorded the details of its fixed assets ! ~ Wow ! ~ and I checked it was a Thursday ! when this ‘Immovable Property’ was ‘Moved ‘!
The Company has been promoted by the Patni Family ~Father Vimal Kumar Patni and sons Vikash Patni and Akash Patni.Their stake has dropped from 59% to just 15.06% as at December 31,2012 ~ all pledged.
The Share Price of the FV Rs 10 shares is just 54 paisa !
The Patni family was also the Promoter of another listed firm, Impex Ferro Tech. In fact Vikash Metal & Power was shown as part of the Impex Group.Till December 31,2011 the Promoters Group shows these Patnis ~ but no longer so from then ~ The Share Price of Impex is Rs Rs 3.54 for a FV Rs 10 share
Clearly this has the making of a massive Fraud here ! ~ Stealing with a Legal Tag !? ~ that’s the Substance over Form !
Some other ways of suspected siphoning of Funds or Assets from the Company are as below with links to Company illustrations which I had extensively blogged on recently
- Writing off Fixed Assets as Impaired and Value not Recoverable ~ Goldstone Infratech May 22nd, 2013
- Writing off Inventories stating it was a correction in erroneous valuation earlier and reducing Debtors outstandings as being overstated as found out in a reconciliation and not found to be realisable ! ~Bhoruka Aluminium June 8th, 2013
- Using the Free Cash for Investments in Group Companies or extending Loans & Advances to Them ~Geodesic March 27,2013
- Inflating Project Costs & Expenses ~Reliance Industries October 3rd, 2012
Shortly I shall also reveal, with clear financial evidence how the Promoter & Top Management lied and mislead, what I strongly suspect how the Vedanta Sterlite Group took the Minority Shareholders of Sesa Goa for a ride by Investing over Rs 12000 crs of Sesa Goa’s Free Cash in Cairn India stating it would be immediately EPS accretive ! ~ it has just received Madras High Court Approval to merge Sterlite into Sesa Goa now to make it Sesa Sterlite !
Mumbai is drenched ! ~ a Wet Welcome for Visiting US Vice President Joe Biden !
Mumbai is drenched !~a Wet Welcome for Visiting US Vice President Joe Biden !
It’s been pouring relentlessly and incessantly from June 7,2013 with the Sun reminding us, just four or five days in the last 45 days, that it still rises and sets
The Weekend Washout continues into the Week even as I blog past midnight on a Tuesday Night ~ it’s now Wednesday
There’s going to be a lot of absenteeism tomorrow ! ~ you can bet on that !
Son just returned too by rick,train and then a cab from a Sound Studio he works at in the Andheri Suburbs ~ says the Slow Trains are on time but the Fast Trains are Slow ! ~trying to figure that out ! ~ probably means all Trains are now Slow as Tracks are surely waterlogged in some locations
I too just returned from my Tuesday Lord Ganesha Darshan at Siddhivinayaka Temple and Infant Jesus and St Anthony Shrine on the return and quite fittingly in this Heavy continuing Downpour a FM Station was playing “Aye Dil Yeh Mushkil,Jeena Yaha,Zara Hatke,Zara Bachke,yeh hai Bambai meri Jaan ”
There’s Police Personnel lined up every 10 meters on either side of the Road ~some huddled in groups in their Yellow Raincoats and looking bored and kicking imaginary pebbles ~ wondered which visiting VIP was disturbing them on raindays like this with mandatory midnight duty ! ~ Ah ! realised that Joe Biden,the US Vice President was to fly in from New Delhi tonight after having met the PM on Monday and others on Tuesday~ and this was standard protocol
So why is Biden really here in India ! His Wife and he arrived in New Delhi on Monday,July 22,2013 ~the Official position is this as stated on http://www.whitehouse.gov/blog/2013/07/22/new-delhi-vice-president-biden-tours-gandhi-smriti and reproduced below
“Vice President Biden and Dr. Jill Biden arrived in New Delhi today, the first stop on a six-day trip to India and Singapore.
This trip is an important opportunity to strengthen our partnerships within the region and reaffirm our commitment to rebalancing U.S. foreign policy toward the Asia-Pacific. Over the next several days, the Vice President will meet with leaders in both countries to discuss a range of issues, from economic growth to energy and climate change to security.”
I just hope India does not get bulldozed or bullied by the US into any more economic concessions in US reaffirming their commitment to rebalancing US foreign policy !~whatever that phrase means!~ and it cannot be a coincidence that Walmart just told the Department of Industrial Policy & Promotion( DIPP) in India that it will not be able to comply with the FDI multi brand retail clause of a minimum of 30% procurement of supplies from India itself ~ maybe 20% they say ! ~ not a single application has come in since opening out multi brand retail through FDI was announced ten months ago
An MBA in Index Management !? Sensex at 20300 and Nifty at 6100 levels ~ near 2013 high
An MBA in Index Management !? Sensex at 20300 and Nifty at 6100 levels ~ near 2013 high
The Course will have many takers ! and some very experienced old hand faculty !
In 2013 till date the Intra day Sensex High was recorded on May 13,2013 when Sensex reached 20443.62 but closed lower at 20224
We are close to recording a New Sensex High for 2013 ~ just under 150 points required ~ it’s a intra day job! ~ maybe today or this week !~ and we have more than five months yet to go in 2013 and General Elections then nearing
Looks like we’ll also top the All time High of 21206.77 in Jan 2008 which it came pretty close to in Nov 2010 ~ just 900 points required ~ that’s less than 4.5% ~ that’s a few weeks job !
😎 And this is Serious ! ~ So what will the MBA Curriculum be !? It’s got to be Hand On Practical and Definitely will include :