The Sun Pharma arrangement with Merck (MSD incl the Schering Plough companies) is of course another Marketing share deal along Merck's arrangements with Piramal and a research unit (Orchid Chemicals) out of India but the $1 bln Indian made Pharma company (in quarterly revenues $250mln) is likely to get a very good price among the last deals in the Pharma sector before FDI policy is changed to avoid giving away the Developing country property rights in the are that make the India story and PPP stories of wealth viable and give foreign investors hope. 

Infosys and its $250mln war chest continues to come up croppers as Europe remains a minefield of protectionism and no future business prospects even without the crisis in the peripherals. The tech sector further needs support in the face of the likely further 20-30% rise in the rupee over 2-3 years

Merck has 2-3 international deals with Ariad and Inspire in a similar vein as the Sun Pharma deal. Warburg Pincus had 28% it sold in the inspire deal. The future looks rosy for PE investments in healthcare in India competition fron Glaxo and even the otherwise strong brand of J&J continues to be a thorn in big pharma players bid to grow in the emerging markets and india franchises with Merck and Pfizer falling prey to their won development budgets (latter) and mispricing ambitions (both)

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