The number of smartphone users in India is expected to almost double by 2022 from 47 cr registered at the end of 2017, a joint study by ASSOCHAM and PwC said. Fueled by cheap data and the explosion of ‘over the top’ services, the total number of smartphones will hit 86 cr by 2022, which […]
Steel and energy company Jindal Steel and Power Ltd (JSPL) said it received an order worth Rs 665 crore from Rail Vikas Nigam Limited (RVNL) for the supply of over 89,000 tonnes of rails. Rail Vikas Nigam Limited is an organisation associated with the Indian Railways, and builds engineering works for the Indian Railways. JSPL […]
Pharmaceutical major Lupin said it signed a distribution agreement with Switzerland-based pharma firm Aptissen S.A. to exclusively sell Aptissen’s products in Canada. Established in 2013, Aptissen develops hyaluronic acid polymer-based injectable medicinal products in aesthetic medicine, ophthalmology, and orthopedics. It has presence in more than 50 countries worldwide. “This partnership helps us expand our product […]
Pharmaceutical company Indoco Remedies Ltd said that its solid dosages facility at Baddi, Himachal Pradesh received approval from the UK Medicines and Healthcare Products Regulatory Agency (MHRA) after a regulatory inspection. The inspection was carried out from October 16-18, 2018, Indoco said. Spread over an area of 18,000 square metre, Indoco’s solid dosages facility at […]
Steel tubes and pipes manufacturing firm Ratnamani Metals and Tubes Ltd said it received a Rs 255 crore order from the oil and gas sector for the supply of coated carbon steel pipes. Carbon steel, also called mild steel, are used in oil and gas pipeline, plumbing and water supply systems. The order will be […]
Pharmaceutical major Lupin said that it received tentative approval from the United States Food and Drug Administration for the sales of a generic equivalent of Merck Sharp & Dohme Corp’s Emend Injection drug. Fosaprepitant, 150 mg had annual sales of $312 million in the US market. A tentative approval means that the company has to […]
YES Bank, India’s fourth largest private sector bank, said it has acquired 12.79% stakes in Electrical Engineering firm CG Power and Industrial Solutions as part of the invocation of a pledge. It acquired over 8 crore of equity shares of CG Power submitted as collateral for a loan. The shares are valued at Rs 288 […]
Pharmaceutical company Unichem Laboratories said it received a tentative approval from the United States Food and Drug Administration (USFDA) to sell a generic equivalent of Johnson and Johnson Consumer Inc’s Zyrtec-D 12-hour Extended tablets. A tentative approval means that the company has to wait for all patent and other protections to expire before starting the […]
Wipro Ltd said it has helped deploy a new information technology system to kick off the digitization of the currency in Thailand. The achievement marks a small, but crucial step in what many consider the inevitable evolution of money into a more convenient digital format. DIGITAL PAYMENT vs BLOCKCHAIN At present, digital money is handled […]
Bharti Airtel said it will merge its VSAT business with the VSAT business of Hughes Communications India Ltd, with HCIL holding a majority stake in the resulting business. VSAT refers to the provision of data services using satellites, and is used extensively by banks and ATMs. “The combined entity will be able to introduce new […]
Alembic Pharmaceuticals said one of its dermatology-focused joint ventures, Aleor Dermaceuticals Ltd, received an Inspection Report for its formulation facility at Karakhadi, Gujarat from the United States Food and Drug Administration. The USFDA had conducted an inspection at the facility from February 4-8. Alembic holds 60% of Aleor, with Orbicular Pharmaceutical Technologies holding the rest. […]
Hyderabad-headquartered Dr Reddy’s Laboratories said it has launched a therapeutic equivalent of AbbVie Inc’s AndroGel in the US market, a month after rival Lupin did so. Testosterone Gel is used for hormone replacement in men who are not able to produce enough testosterone. The medication is absorbed through the skin, enters the bloodstream, and helps […]
Information technology firm Ducon Infratechnologies Ltd said it received an order to supply a pollution control system at the greenfield lead metal recycling and refining project of Chloride Metals Ltd, a wholly-owned subsidiary of Exide Industries Ltd and one of India’s largest secondary lead smelter and production company, at Haldia in West Bengal. The pollution […]
Pharmaceutical manufacturer Zydus Cadila said that the United States Food and Drug Administration has issued 14 observations after an inspection at its manufacturing facility at Moraiya, Ahmedabad. Observations indicate that the inspectors did not find everything up to order, and want the company to make amendments to its procedures and process at the facility. Moraiya […]
Travel services company Thomas Cook said it will offer special deals to customers to Sentosa, an island resort in Singapore, following the signing of a three-year strategic agreement with Sentosa Development Corporation Sentosa Development Corporation (SDC) is a statutory board in Singapore, under the purview of the Ministry of Trade and Industry. Established in 1972, […]
Pharmaceutical major Cipla and its subsidiary Cipla USA announced the phased launch of a generic therapeutic equivalent version of Sensipar, a branded drug manufactured by Amgen Inc. The launch, however, is a subject of ongoing litigation, Cipla said in a regulatory filing. Amgen’s Sensipar generated US sales of $1.43 billion in 2018. Cinacalcet hydrochloride tablets […]
The last three years have seen a massive shift in private equity investment in the Indian real estate sector from residential properties to commercial properties, according to data compiled by Anarock Property Consultants. The share of residential sector within private equity investments in real estate fell to just 3% in 2018 from 47% in 2015, […]
DTH players who tried to ‘lock in’ their customers via long-term packs before the introduction of TRAI’s new tariff order seem to have instead ended up in a trap after the regulator ordered them to honor their earlier long-term plans. A prominent DTH operator, which was calling up customers with attractive yearly offers just before […]
SpiceJet announced yet another batch of new flights, emerging as by far the most aggressive airline in the wake of the demise of Jet Airways. This time, it announced 19 new flights, taking the total to 65 new flights announced in the last one month alone. The new flights announced today all connect Mumbai with […]
Two-wheeler maker TVS Motors reported an increase of 2% in the domestic two-wheeler sales in April. It sold 2.48 lakh units of two-wheelers in India, up by 6,852 units from last year. Of the 2.48 lakh units, TVS Motors sold 1.43 lakh of motorcycles and 97,323 lakhs of scooters in April. Both scooter sales and […]
