New Delhi, Aug 16:

The decks have been cleared for US-based Mylan Incs Rs 5,168-crore acquisition of Indian generic drug-maker, Agila.

An inter-ministerial group met on Friday to decide on the fate of pharma FDI proposals stuck due to objections raised by the Department of Industrial Policy and Promotion. DIPP is an arm of the Commerce Ministry. The Ministerial group, headed by the Prime Minister, ruled that the existing FDI policy will apply for approval of all pending pharmaceutical proposals.

With this, the Government has set aside the concerns raised by the Commerce and Industry Ministry on foreign companies taking over the Indian market for injectibles, especially those related to cancer. The present proposals before the FIPB or as approved by it will go through under the existing policy. There are conditions that have been put in, with regard to investments, R&D and manufacture, said Commerce and Industry Minister Anand Sharma, addressing reporters.

The Ministrys main concern was that the availability of affordable medicines in the country would be affected if domestic capabilities in manufacturing generics (cheap copies of off-patent drugs) are curtailed. According to RBI data, over 96 per cent of foreign direct investment (FDI) in the pharma sector in the past year came into brownfield (that is, existing) projects.

Undeterred, the DIPP has now decided to approach the Cabinet with proposals to restrict the Foreign Investment Promotion Board (FIPB)s handling of future proposals related to vaccines, injectibles and oncology medicines (cancer drugs), a senior DIPP official told Business Line.

In a note to the inter-ministerial group, the DIPP had warned that the Indian market for oncology injectibles was highly concentrated, with foreign companies accounting for over half the share.

Many companies have been outsourcing clinical trials to India. Industry analyst Sarabjit Kour Nangra, Vice-President-Research (Pharma), Angel Broking, believes that in the long run the R&D segment will also attract investments. Most international companies are interested in Indian firms because of their manufacturing capabilities and this will increase Indias presence in the global market, Nangra said.

amiti.sen@thehindu.co.in

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With green signal for Mylan, decks cleared for FDI in existing pharma units

The Altana roof deck offers standard features that include granite countertops, outdoor kitchen, fireplace and TV hookup.

At Altana, the latest project at Mission Valley's Civita, it's what's up top that counts.

Two of the four models offer roof decks, outfitted with built-in fireplaces, kitchens, granite countertops and TV hookups.

"We believe that the buyer in San Diego is very active and outdoorsy," said Mike McMillen, vice president and project manager for TRI Pointe Homes. "Not only do we give them some private yard space but also natural light. We thought it would be nice to enhance it with a rooftop deck."

The 45-unit project off Friars Road at Mission Center Road, where sales of eight units will begin at 9 a.m. Saturday, Aug. 17, offers prices ranging from $642,900 to $777,900 on floor plans of 1,668 to 2,180 square feet. (The "TRI" stands for Think-Renew-Inspire.)

Models 2 and 4 offer the roofdecks on the third floor, while Model 3's two-story offers a balcony off the master bedroom.

In the last two weeks, potential buyers also have admired the decks, said one of the sales managers, Sheila Travers.

"I just love rooftop deck living," said Richard Eichstedt, a restaurant manager who recently moved from Florida to North Park. With Edwin Hunter, a health care professional, he's looking to buy. "The rooftop deck is what sold us."

McMillen said TRI Pointe includes the decks and features in the base price, even though they added $30,000 to the construction cost: "We felt that was something we're conscious of what the market wants and desires."

Altana is Civita's first single-family-home project and buyers, while being members of two homeowner associations, will own their structure and be responsible for maintenance. For the attached for-sale homes elsewhere in the 230-acre master-planned community, the association is responsible for the exteriors.

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Civita's new homes: It's all about the roof decks

Bathroom Remodeling, Bathroom Renovations, Bathroom Ideas Designs - Ivy Lea Construction
Watch Ivy Lea Construction #39;s Bathroom Remodeling AM Buffalo Appearance. Mike Washington Discusses Various Bathroom Renovations, Bathroom Ideas Designs.

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Bathroom Remodeling, Bathroom Renovations, Bathroom Ideas

Jenn-Air Appliance Repair Atlanta GA (770) 577-5770 Dependable Services | Grill, Range, Refrigerator
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Jenn-Air Appliance Repair Atlanta GA (770) 577-5770 Dependable Services | Grill, Range, Refrigerator - Video

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TULSA, Okla. (PRWEB) August 16, 2013

KSQ Architects, PC recently received two big industry recognitions that underscore recent growth, help the firm attract top talent and produce high quality work.

Architectural Record recognized KSQ as a Top 300 Design Firm for 2013, where KSQ ranked #175 out of 300. Firms were ranked according to revenue earned in 2012 as well as staff increases, backlog of work compared to the previous year, and project locations.

The Zweig Letter Hot Firm List also recently ranked KSQ Architects #29 out of 100. ZweigWhite is the nations leader in enhancing business performance for architecture, engineering and environmental consulting firms. The Hot Firms list is comprised of companies that experienced percentage revenue growth and dollar revenue growth over a three-year period compared to other entries.

We are very honored and fortunate to experience this type of growth, said David Short, a principal with the firm. Our market segments have remained strong. Our approach works. We listen to our clients needs and wants, and then bring their dreams to life.

More than 80 percent of KSQs business comes from repeat clients who are primarily in higher education, K-12 schools and multifamily housing.

ABOUT KSQ ARCHITECTS With offices in Oklahoma, New York and Texas, KSQ Architects is a full-service planning, architecture and interior design firm specializing in higher education, K-12 schools and multifamily housing. KSQ has completed projects nationwide on more than 47 campuses totaling $1 billion in construction.

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KSQ Architects Receives Top Industry Rankings by Architectural Record and ZweigWhite

The rise in compensation for architects over the last two years has barely climbed, although certain business metrics are improving, according to results from the 2013 American Institute of Architects (AIA) Compensation Survey. The biannual report indicates that between 2011 and 2013, the average total compensation (which includes overtime, bonuses, and incentives) increased from $75,000 to $76,700.

CEOs/presidents ($186,900), managing principals ($178,400), and directors of design ($146,000) experienced the biggest gains in compensation over the last two years at 13, 14, and 11 percent, respectively. Meanwhile, totals for senior design and project management staff averaged $94,900 in 2011 and $99,400 in 2013. Salary growth among unlicensed architecture/design staff and interns hovered between 2 and 4 percent in the last two years, as COOs saw the largest drop at -6 percent.

Among other highlights from the survey:

Data from federal agencies suggests a modest uptick in other business conditions. Last year, revenue at architecture firms increased nearly 11 percent over 2011 levels, according to U.S. Census Bureau. The U.S. Department of Labor also reports that practices payroll employment rose 3 percent between a mid-2011 low and the end of 2012.

Compiled from 1,023 valid surveys submitted by U.S. architecture firms, the AIA Compensation Report includes compensation data for 39 architecture firm positions in 28 states, 28 metro areas, and 14 cities. Click here to order the report.

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Architects' Salaries Creep Up as Business Conditions Stabilize

Beacon Roofing Supply, Inc. ( BECN ) reported third-quarter fiscal 2013 (ended Jun 30, 2013) adjusted earnings per share of 55 cents compared with 62 cents earned in the year-ago quarter. The results fell short of the Zacks Consensus Estimate of 71 cents. Tough weather conditions and increase in product cost led to the decline.

Reported profit for the quarter was $27.2 million (or 55 cents a share), up 8% from $25.4 million (or 53 cents per share) recorded a year ago. The year-ago quarter's results included refinancing cost of 6 cents per share and increase in liability of 3 cents per share. No such item was recorded in the reported quarter.

Operational Update

Total revenues increased 12% year over year to $627.2 million, but missed the Zacks Consensus Estimate of $663 million. Organic sales improved 1.2% in the quarter. In existing markets, non-residential roofing product sales edged up 1.1%. Complementary product and residential roofing products sales increased 5.2% and 0.2% year over year, respectively. The reported quarter benefited from the positive impact of several acquisitions and organic sales gain, partly offset by unusually heavy rains, harsh weather as well as negative impact from hail storms.

Cost of goods sold increased 14% year over year to $479.8 million. Gross profit rose 4.6% to $147 million from $140.7 million in the year-ago quarter. Gross margin contracted 150 basis points year over year to 23.5%. Pricing pressure due to weaker demand hurt gross margin.

Operating expenses for the quarter crept up 11% to $99 million, due to increased expenses from the acquisitions. Operating income decreased 6% year over year to $47.9 million. Consequently, operating margin slid 150 basis points year over year to 7.6%.

Financial Position

Cash and cash equivalents declined to $26 million as of Jun 30, 2013, from $31 million as of Jun 30, 2012. Total debt amounted to $229 million as of Jun 30, 2013, compared with $234 million as of Jun 30, 2012. Debt-to-capitalization ratio declined to 24% as of Jun 30, 2013, from 27.8% as of Jun 30, 2012.

Cash flow from operating activities improved to $49 million in the quarter from $35 million in the prior-year quarter owing to favorable changes in working capital.

Outlook

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Beacon Roofing Earnings & Revs Lag in Q3 - Analyst Blog

Beacon Roofing Supply, Inc. (BECN) reported third-quarter fiscal 2013 (ended Jun 30, 2013) adjusted earnings per share of 55 cents compared with 62 cents earned in the year-ago quarter. The results fell short of the Zacks Consensus Estimate of 71 cents. Tough weather conditions and increase in product cost led to the decline.

Reported profit for the quarter was $27.2 million (or 55 cents a share), up 8% from $25.4 million (or 53 cents per share) recorded a year ago. The year-ago quarters results included refinancing cost of 6 cents per share and increase in liability of 3 cents per share. No such item was recorded in the reported quarter.

Operational Update

Total revenues increased 12% year over year to $627.2 million, but missed the Zacks Consensus Estimate of $663 million. Organic sales improved 1.2% in the quarter. In existing markets, non-residential roofing product sales edged up 1.1%. Complementary product and residential roofing products sales increased 5.2% and 0.2% year over year, respectively. The reported quarter benefited from the positive impact of several acquisitions and organic sales gain, partly offset by unusually heavy rains, harsh weather as well as negative impact from hail storms.

Cost of goods sold increased 14% year over year to $479.8 million. Gross profit rose 4.6% to $147 million from $140.7 million in the year-ago quarter. Gross margin contracted 150 basis points year over year to 23.5%. Pricing pressure due to weaker demand hurt gross margin.

Operating expenses for the quarter crept up 11% to $99 million, due to increased expenses from the acquisitions. Operating income decreased 6% year over year to $47.9 million. Consequently, operating margin slid 150 basis points year over year to 7.6%.

Financial Position

Cash and cash equivalents declined to $26 million as of Jun 30, 2013, from $31 million as of Jun 30, 2012. Total debt amounted to $229 million as of Jun 30, 2013, compared with $234 million as of Jun 30, 2012. Debt-to-capitalization ratio declined to 24% as of Jun 30, 2013, from 27.8% as of Jun 30, 2012.

Cash flow from operating activities improved to $49 million in the quarter from $35 million in the prior-year quarter owing to favorable changes in working capital.

Outlook For 2013, Beacon Roofing lowered its earnings per share forecast to $1.50$1.60 from its previous view of $1.75$1.85. Capital expenditure is expected to be around 1% to 1.2% of sales for the full year, as a result of continued fleet upgrades. The company expects gross margin for the fourth quarter in the band of 23%23.5%.

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Beacon Roofing Earnings & Revs Lag in Q3