Switzerland’s 2nd largest bank has been merged with country’s largest bank & its rival UBS for a lot lower than its market value. Regulators say this was the best way forward.
Advice comes at a time when India accounts for a 5th of global generic drug supply & 40% of generics used in US. However, this strength in finished formulations relies on imported ingredients.
It’s easy to understand why the government can’t speak the hard truth. When this war ends, as all wars do, India’s interests will lie with both the winner and the loser.
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