BRIEFING - ASIA HEALTH NEWS - AUG 24, 2010

INDIAN INSURANCE PRODUCTS SHOULD BE MARKET-ALIGNED: FORTIS MD

HYDERABAD - Indian hospital chain Fortis Healthcare Ltd (BSE:532843), which reportedly plans to foray into insurance business, yesterday said Indian insurance products need to be realigned according to the market.

Fortis Healthcare managing director Shivinder Singh said the current cashless insurance row has been "hyped up", but will not impact the healthcare business.

AUST. CONTACT LENS RECALL "EXTREMELY LIMITED": JOHNSON & JONHSON

SYDNEY - Australia has "extremely limited" circulation of a contact lens now at the centre of a multi-country recall, after Japanese users complained of eye irritation.

Johnson & Johnson said it was working with optometrists to contact less than a dozen Australians still holding the defective "1DAY ACUVUE TruEye" contact lenses.

ALCOA PLEADS GUILTY TO CHARGE OVER POLLUTION AT AUST REFINERY

PERTH - Aluminium company Alcoa has pleaded guilty to contravening its licence conditions in relation to dust pollution from a West Australian refinery that residents say caused illnesses.

Alcoa had been charged with allowing pollution to occur at its Wagerup refinery, about 130km south of Perth, but pleaded not guilty to that charge.

INDIAN SCHOOL OF BUSINESS, DR REDDY'S TO SET UP EMPLOYMENT CELL

MUMBAI - The Indian School of Business (ISB) on last week said it has signed an agreement with Dr Reddy's Laboratories (BSE:500124) to establish a cell for helping students with employment opportunities.

ISB has signed a memorandum of understanding with Dr Reddy's Laboratories to establish 'Dr Reddy's Cell for Employability and Skilling' at ISB, it said in a statement.

DAIICHI SANKYO'S BID DEADLINE FOR INDIA'S ZENOTECH EXTENDED

NEW DELHI - Indian drug firm Zenotech Laboratories (BSE:532039) today said the closing date of the open offer made by Japanese drug-maker Daiichi Sankyo (TSE:4568) to acquire a 20 per cent stake in it has been extended by a week to August 30 due to an ongoing litigation.

In a filing to the Bombay Stock Exchange, Zenotech submitted a letter by ICICI Securities, the lead manager of the offer, which said: "It is proposed that the date of the closure of the open offer be extended by seven days and the offer now close on August 30, instead of the earlier disclosed August 23, 2010."

INDIA'S JUBILANT INKS US$51 MLN MANUFACTURING DEAL WITH US CO

NEW DELHI - Indian drug maker Jubilant Organosys (BSE:530019) said it has signed a US$51 million research and manufacturing contract with an unnamed US-based firm.

The company has signed a long-term agreement in contract research and manufacturing services (CRAMS) segment with a US life sciences company, Jubilant Organosys said in a filing to the Bombay Stock Exchange (BSE) Monday.

PAPUA NEW GUINEA'S HIV/AIDS PREVALENCE IS 1% OF POPULATION

PORT MORESBY - Papua New Guinea's Department of Health and National AIDS Council Secretariat estimated that HIV/AIDS prevalence in the country is 0.92 per cent, and is growing.

The latest estimate is based on an analysis conducted in 2009 using the most recent data across the country.

AUSTRALIA'S SONIC HEALTHCARE POSTS 71 PCT RISE IN YR PROFIT

SYDNEY - Australian pathologist and radiologist Sonic Healthcare Ltd (ASX:SHL) has posted a 71 per cent rise in annual profit, and says it expects more growth in the current year.

Sonic Healthcare reported statutory net profit for the year ended June 30 of A$293.225 million (US$260.75 million), up from A$171.36 million in 2008/09.

S.KOREA'S HEALTH INSURANCE COSTS TO SURGE IN 2020: REPORT

SEOUL - South Koreans are likely to pay more for health insurance in 2020 as the country's health insurance expenditures are expected to double due to rising usage of medical services and rapid population aging, a report showed Monday.

The country's spending on health insurance is expected to reach 80.4 trillion won (US$68 billion) by 2020, up 46.8 trillion won from 2010, said a report by the Korea Institute for Health and Social Affairs.

ARUN SAWHNEY TAKES OVER AS MANAGING DIRECTOR OF INDIA'S RANBAXY

NEW DELHI - India's Ranbaxy Laboratories (BSE:500359) on Friday said Arun Sawhney has taken over as the managing director of the company, replacing Atul Sobti, who resigned on August 12.

Sawhney, who was earlier President, global pharmaceutical business of the company, has been appointed as MD for a period of three years, Ranbaxy said.

AUSTRALIAN HEALTH INSURER NIB BOOKS 159% RISE IN YR PROFIT

SYDNEY - Australian health insurer nib Holdings Ltd (ASX:NHF) has increased full year net profit by 159 per cent and says it expects further growth in the market in the current year.

Nib posted net profit of A$61.525 million (US$54.55 million) in the 12 months to June 30, up from A$23.786 million in the previous year.

AUSTRALIAN GLOVE MAKER ANSELL POSTS LOWER YR NET PROFIT

MELBOURNE - Australian gloves and condoms maker Ansell Ltd (ASX:ANN) says economic uncertainty in some of its major markets remains a concern while reporting a full year profit fall of 1.6 per cent.

The company said its full year net profit for 2009/10 was down 1.6 per cent at A$119.4 million (US$105.86 million), while revenue fell 9.2 per cent to A$1.24 billion.