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The United States filed a consent decree Wednesday for permanent injunction against Indian generic drug manufacturer Ranbaxy Laboratories Ltd., in the U.S. District Court for the District of Maryland.

Ranbaxy – Failures Galore

The U.S. Department of Justice statement said the government uncovered several problems with Ranbaxy’s drug manufacturing and testing in India and at facilities owned by its U.S. subsidiary, Ranbaxy Inc.

These problems allegedly include:

* Failure to keep written records showing that drugs had been manufactured properly

* Failure to investigate evidence indicating that drugs did not meet their specifications

* Failure to adequately separate the manufacture of penicillin drugs from non-penicillin drugs in order to prevent cross-contamination

* Failure to have adequate procedures to prevent contamination of sterile drugs

* Failure to adequately test drugs to ensure that they kept their strength and effectiveness until their expiration date

The U.S. government has also determined Ranbaxy submitted false data in drug applications to the Food and Drug Administration (FDA), including backdating of tests and submitting of test data for which no test samples existed. Continue reading »

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Apple’s fiscal first quarter (ended December 31, 2011) results were like its products – sizzling.

The company reported a profit of $13.06 billion ($13.87 per share) on revenues of $46.33 billion.

* Click here to see Apple’s Segment-wise Results for Fiscal Q1, 2012

iPhone, iPad Going Gangbusters

No surprise that sales of the company’s hot iPhone 4S and iPad 2 were at a scorching pace during the holiday season.

During the quarter, Apple sold 37.04 million iPhones, a 128% unit growth over the year-ago quarter.

Tablet sales came in strong too.

Apple sold 15.43 million iPads, a 111% unit increase over the year-ago quarter.

Apple Q1 2012 Results

Sales of Mac computers grew modestly in comparison.

Apple sold 5.2 million Macs (including an iMac to us), a 26% unit increase over the year-ago quarter.

Sales of the iPod music and video devices hit a pothole again as their functions have been subsumed in the iPhone. Apple sold 15.4 million iPods, a 21% unit decline from the year-ago quarter.

For the current quarter, Apple set a modest revenue target of $32.5 billion and expect diluted earnings per share of about $8.50.

Related Content:
Apple’s Segment-wise Results for Fiscal Q1, 2012

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The Indian IT industry, which has been steadily growing over the last two decades by providing low-cost IT services to western companies, faces uncertain times in the near term.

Slowdown in 2012

Analysts see all four major technology sectors computing hardware, enterprise software, IT services and telecommunications equipment and services experiencing slower growth in 2012.

IT market researcher Gartner has revised downward its outlook for 2012 global IT spending from its previous forecast of 4.6% growth to 3.9%.

IT services, on which Indians rely for their entire business, will see a severe hit.

Compared to an estimated growth of 6.9% in 2011, the growth projection for IT services in 2012 is just 3.1%.

IT Services Spending Will Slow in 2012 - SearchIndia.com

The projected slowdown in IT services growth combined with the tightening on issue of H1 and L1 Visas that Indian companies rely a lot to do their work in America could mean hard times ahead.

The slowdown will also intensify the battle between the big Indian firms like Infosys, Wipro and TCS for business and potentially affect the rates they charge.

All in all, 2012 does not look like a good year for the code monkeys sitting in the cubicles of Noida, Pune, Bangalore, Chennai and Hyderabad or for the share prices of the Indian IT companies.

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Trisha and Sex are like Laurel and Hardy, Tintin and Snowy, Abhishek and Flops, Goundamani and Senthil, so tightly coupled that one without the other is inconceivable.

Oh no, we’re not talking of that Trisha!

Trisha is a must if you lust for endless fun all night long without endless questions later.

Oh no, we’re not talking of that Trisha!

Trisha in your mouth and, hey, there’s no end to the fun.

Oh no, we’re not talking of that Trisha! Continue reading »

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Nokia Siemens Networks CEO Rajeev Suri today gave the heave-ho to 17,000 employees.

According to Suri:

We believe that the future of our industry is in mobile broadband and services – and we aim to be an undisputed leader in these areas. At the same time, we need to take the necessary steps to maintain long term competitiveness and improve profitability in a challenging telecommunications market.

Nokia Siemens Networks plans to slash its annualized operating expenses and production overheads by EUR 1 billion by the end of 2013.

Savings are expected mostly from organizational streamlining (aka layoffs in plain English), real estate, information technology, product and service procurement costs, overall general and administrative expenses and a big reduction of suppliers.

Related Stories:
Rajeev Suri Takes Mangalore Univ into Stratosphere

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U.S. venture capital firm Accel Partners has closed a $155 million fund, Accel India III, that will make seed and early stage investments in Indian startups.

This is Accel’s third India fund.

Accel, which has previously invested in 34 Indian companies, said the latest fund had attracted top tier institutional investors from North America, Europe and Asia.

The fund intends to focus on Internet services, digital media, SaaS and enterprise technologies, mobile, healthcare and education and other high-growth sectors.

Accel executives say that while traditional venture capital and growth equity have been increasingly drawn to India over the past several years, seed and early stage markets were still under-served.

Accel Partners’ Indian investments include Internet startups such as Flipkart, Myntra, Letsbuy, HealthcareMagic, Babyoye and Exclusively.in.

With offices in Bangalore and Delhi, Accel Partners has eleven investment professionals based in India, led by four partners: Mahendran Balachandran, Shekhar Kirani, Subrata Mitra and Prashanth Prakash.

Despite all the investments supposedly flowing into Indian startups lately, we’ve yet to see even a single Indian company make waves on the international landscape, either in the consumer space or in the business segment.

Related Stories:
Sameer Gandhi Bolts to Accel Partners

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