Factbox: Ethisphere’s most ethical companies of 2012

(Reuters) – The Ethisphere Institute, a New York think tank, included 145 companies in its sixth annual list of the world’s most ethical companies, up from 110 in 2011. Companies are evaluated for having, and enforcing, clear policies on areas including bribery, supplier conduct and investor communications. The list has steadily become more global over the years and this year’s version includes two of India’s largest companies — Tata Steel Ltd and Wipro Ltd. …

Deutsche cuts Biocon target price after Pfizer exit

MUMBAI (Reuters) – Deutsche Bank cut its target price for Biocon Ltd shares by 9 percent to 215 rupees after Pfizer Inc ended a deal to sell insulin products made by the Indian drugmaker. “This issue raises its risk profile in this high-risk, capital-intensive business,” Deutsche Bank wrote in a research note. Biocon shares were trading at 253.75 rupees at 1.30 p.m. (0800 GMT), down 5.16 percent. The separation leaves India’s biggest biotech company without a partner to sell the insulin drugs in key global markets such as the United States. (Reporting by Abhishek Vishnoi; Editing by Ted Kerr)

Pfizer scraps insulin deal with India’s Biocon

MUMBAI (Reuters) – Pfizer Inc, the world’s largest drugmaker, has scrapped a deal to sell insulin products made by Biocon Ltd, leaving India’s biggest biotech company without a partner to sell the drugs in key global markets such as the United States. The two companies cited “individual priorities” as the reason for the split in a joint statement released on Tuesday, which immediately ends a relationship that stood to earn Biocon hundreds of millions of dollars in royalties. …

India’s Biocon shares fall as Pfizer cancels sale deal

MUMBAI (Reuters) – Shares in India’s Biocon Ltd dropped more than 7 percent early on Tuesday after Pfizer terminated an agreement to sell the Indian company’s insulin products across the world. The two companies cited “individual priorities” as the reason for the split of relationship, which stood to earn Biocon hundreds of millions of dollars in royalties. The deal was signed between the companies in October 2010. At 0350 GMT, Biocon shares, the largest listed bio-technology company in India, were down 5.8 percent at 252.2 rupees in a Mumbai market that was up 0.9 percent. …

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