Pharma company Eris LifeSciences said it has completed its purchase of the India branded generics of Strides Shasun for Rs 500 cr in cash. “We now wish to confirm that the transaction ahs achieved closure,” said Eris Lifesciences. Last month, Strides Shasun said it was selling the India branded business as part of its portfolio […]
A senior State Bank of India official warned against assuming that the bad loan malaise affecting the Indian banking sector has started declining. Praveen Kumar Gupta, MD in charge of retail and digital banking, said one cannot directly draw conclusions by extrapolating trends seen in the first two quarters of the current financial year. In […]
Mirc Electronics, which makes Onida brand of consumer durables, said nine private investors will put in Rs 144.12 cr in the form of equity investments into the company. The company will issue 1.92 crore equity shares and 1.92 crore convertible warrants at Rs 37.53 to these investors. Shares of Mirc Electronics were trading at Rs […]
Biocon and its partner Mylan scored a key victory on Friday as the US Food & Drug Administration approved its cancer-treating biosimilar trastuzumab. “Mylan anticipates potentially being the first company to offer a biosimilar to Herceptin, as a result of Mylan’s ability to secure global licenses for its trastuzumab product from Genentech and Roche earlier […]
Glenmark Pharmaceuticals said it has registered its Seretide Accuhaler product in the Nordic region of Europe, including Sweden, Denmark, Norway, Finland and Iceland. “The commercialization of the product would depend on national approval as well as substitution and pricing approvals,” the company said. The product was registered under the decentralized process. The decentralized process is […]
Indian pharma company Biocon and its partner Mylan said EU authorities have accepted for review their applications for approving cancer treating biosimilars trastuzumab and pegfilgrastim submitted after completing corrective actions. The applications were resubmitted last month after being pulled in August in response to audit observations relating to one of Biocon’s drug facilities. At the […]
Eros International Media announced its next film Haathi Mere Saathi, a remake of the 1971 film of the same name starring Rajesh Khanna. It will be shot on a large canvas in three languages — Hindi, Telugu and Tamil, and directed by Prabhu Solomon of Kumki and Mynaa fame. “With shooting commencing in Thailand in […]
Pharma major Dr Reddy’s Laboratories said European Union authorities have again allowed it to produce drugs for sale in the EU region at its Duvvada factory in Andhra Pradesh. In its inspection conducted in September, the Regulatory Authority of Germany (Regierun von Oberbayern) had made six major observations on the formulations manufacturing facility near Vishakapattanam. […]
Reliance Capital, the financial services arm of the Anil Ambani Group, said the Securities and Exchange Board of India (SEBI) issued its final observation letter to the draft red herring prospectus filed by its general insurance unit. The group had recently seen the successful IPO of its life insurance company, Reliance Nippon Life Insurance, which […]
Panacea Biotec said it got the regulatory nod in the US for launching a generic version of big-selling cancer drug Abraxane. The drug will be sold with the help of Canadian pharmaceutical distributor Apotex. The annual sale of Abraxane worldwide is approximately US$973.4 million and approximately USS633.8 million in the US, the Indian company said. […]
Government of India-funded Indian Council of Medical Research (ICMR) and private sector player Zydus have announced the launch of new diagnostic kits that can help in detecting Japanese Encephalitis Virus in mosquitoes and the Crimean-Congo Haemorrhagic Fever in sheep, goat and cattle. The kits are the result of the research and development conducted by ICMR […]
Bangladesh Power Development Board has awarded the contract for setting up Bibiyana South 400 MW Combined Cycle Power Plant to a consortium of Larsen & Toubro (L8tT) and Samsung C&T Corporation of South Korea, the Indian company said. L&T shall be executing work valued at around USD 250 million, or about Rs 975 cr. The […]
Pharma major Dr Reddy’s Laboratories said it has been served with a class action lawsuit, originally announced in August, related to public disclosures made about regulatory action against the company. “Further to our intimation dated August 28, 2017 with regard to US Securities Class Action Lawsuit, we would like to inform you that the US […]
Jet Airtways said it has signed a new agreement with Europe-based Air France-KLM that will increase the coverage and capacity of its existing agreement with the airline. The airlines will be able to extend their coverage and capacity between Paris, Amsterdam and India because of the agreement, while also adding new destinations in the US. […]
Larsen & Toubro, India’s largest construction company, said it won new orders worth Rs 3,572 crore. One of the biggest was a Rs 1,358 crore contract at the Kempegowda International Airport for the construction of a new South Parallel runway, apron and associated works on EPC basis from Bangalore International Airport Limited. The project Scope […]
Edelweiss Financial Services said it raised Rs 1,527.75 crore by selling its shares to institutional investors through the Qualified Institutions Placement (QIP) route, the first time it has raised funds by selling shares after the IPO ten years ago. The QIP opened on November 15, 2017 and closed on November 20, 20 17. It sold […]
Electrical goods maker Siemens Ltd reported an improvement in its profit margins, but underlying sales growth decelerated to 1.8% due to GST-related impact. The company usually posts 8%-15% growth in revenue. Net profit also showed a decline as last year, the company had exceptional income related to the sale of a unit. Revenue, on a […]
The United States Food and Drug Administration has given Zydus Cadila approval to launch a generic version of the billion-dollar erectile dysfunction drug Cialis when patents expire. The patents are expected to expire in September next year. Cialis and Viagra are the most popular erectile dysfuntion drugs in the world. Cialis, created by Eli Lilly, […]
Pharmaceutical company Biocon has launched KRABEVA, a biosimilar Bevacizumab for the treatment of patients a variety of cancers in India. The biosimilar — or a drug that mimics a natural protein — is useful in treating metastatic colorectal cancer and other types of lung, kidney, cervical, ovarian and brain cancers. It will be priced at […]
The Securities & Exchange Board of India, the regulator for traded securities such as stocks, has given an exemption to Bank of India to conduct a qualified institutional placement or QIP of Rs 3,000 cr. The bank is technically ineligible for conducting a QIP — which is not considered a ‘public offering’ — as it […]
