Glenmark Pharmaceuticals said it got approval from US authorities to launch a generic version of Daiichi Sankyo’s hypertension drug Azor in various dosages. The drug had annual sales of approximately $211.6 million as of May. The approval was obtained from United States Food & Drug Administration for Amlodipine and Olmesartan Medoxomil tablets in dosages ranging […]
The Indian rupee is likely to give up some of the gains it has made in recent weeks going forward, Angel Broking said, adding that the currency is likely to move towards the 65.30 level against the US dollar. The rupee has risen around 5% in the last six months due to various factors, including […]
Jubilant Life Sciences said it received final approval from US authorities to launch a generic version of Valeant’s anti-depressant Wellbutrin. The approval from FDA is for introducing Bupropion Hydrochloride tablets in 150 mg and 300 mg doses. The drug is used for the treatment of major depressive disorder and prevention of seasonal affective disorder. “This […]
Pharma company Lupin said it launched Moxifloxacin Hydrochloride eye solution in the US. Lupin’s Moxifloxacin Hydrochloride Ophthalmic solution USP, 0.5% (base), is an AT1 rated generic equivalent of Novartis Pharms Corp.’s Vigamox Ophthalmic solution. It is indicated for the treatment of bacterial conjunctivitis caused by susceptible strains of the organisms. Vigamox Ophthalmic solution had US […]
Zydus said it started phase II trial on its anemia drug candidate ZYAN1. The drug, a hypoxia-inducible factor prolyl hydroxylase inhibitor, is being tested as a treatment for anemia associated with chronic kidney disease (CKD). The move follows successful Phase 1 trials. A drug has to go through three phases of clinical trials before it […]
Non-banking financial services company Mahindra & Mahindra Financial Services said it plans to raise Rs 2,000 cr by issuing debt instruments to the public. The non-convertible debenture issue will open on July 10. The NCDs carry a rating of IND AAA from India Ratings and BWR AAA from Brickwork Ratings. The instruments will be offered […]
Telecom operator Reliance Communications said companies in the sector are facing cash flow issues due to what it called a ‘go slow’ approach taken by banks in disbursing loans. In an update on its ‘standstill agreement’ with its lenders, which provides it a window of seven months to complete a merger with local units of […]
IT and outsourcing services provider Wipro said it will use students at Israel’s largest university to jointly conduct research into artificial intelligence. The company inked an agreement with Tel Aviv University, Israel’s largest institution of higher learning which is home to over 30,000 students studying in nine faculties. The two will create a joint research […]
Reliance Communications launched a virtual private network service over its 4G service for the use of businesses. VPNs use software to create a virtual tunnel between two or more end points on the Internet. Since these are not a real private networks — which would require dedicated connection between different end points — they offer […]
Users of the JioFi, the personal hotspot device from Reliance Jio, will be able to get a new plan that takes the free data offered per day to 5 GB. At present, the highest amount of free data that any user on the 4G service can get is 2 GB, for a payment of around […]
Zydus Cadila has received the tentative approval from the USFDA to market Sitagliptin and Metformin Hydrochloride Tablets used for controlling blood sugar levels. “This is a fixed dose combination of two anti-diabetic drugs indicated for Type II diabetes mellitus and will be produced at the group’s formulations manufacturing facility at the Pharma SEZ in Ahmedabad,” […]
Glenmark Pharmaceuticals said it received approval from UK authorities for to sell its Maloff Protect anti-malarial medication without prescription. It contains atovaquone and proguanil hydrochloride, and has been available only as a prescription medicine in the UK. The Medicines and Healthcare products Regulatory Agency gave approval for 250mg and 100mg film-coated tablets, it said. Maloff […]
Sun Pharma said it has inked a long-term agreement with Samsung BioLogics under which the Korean company will manufacture Tildrakizumab, a potential treatment for plaque psoriasis, for the Indian company. Plaque psoriasis is an autoimmune condition which results in patches of thick, red, scaly skin. The approximate value of the contract will be US$ 55.5 […]
Hero MotoCorp, the world’s largest two-wheeler manufacturer, reported strong June auto sales and said it cut prices for its scooters and motorcycles in most states of India. “The quantum of reduction ranges from Rs 400 to Rs 1800 on mass-selling models.” it said. The actual benefit varies from state to state, depending on the pre […]
The goods and services tax will give a big boost to domestic electronic manufacturering as costs will be significantly brought down, said a study by ASSOCHAM-NEC. “The local manufacturers will be able to pass on the tax benefit to consumers in the form of price reduction,” said the report titled, ‘Electricals & Electronics Manufacturing in […]
Bajaj Auto said it agreed with its Austrian associate KTM to expand the brand sales and shift some of the production of Husqvarna motorcycles to Bajaj’s factory in Chakan, Maharashtra. The brand Husqvarna, founded in 1903 in Italy, used to be owned by BMW at one time. It was bought by KTM in 2013. BMW […]
Bajaj Auto said sales of its motorcycles in India fell 36% in June compared to the same month on 2016 to 1.08 lakh units, allowing TVS Motor Co to overtake the company in domestic motorcycle sales for the month. Bajaj’s total vehicle sales, including motorcycles, three-wheelers and exports, were down 23% at 2.45 lakh. Sales […]
Real Estate developer Godrej Properties said it kicked off two new projects — both residential apartments — in Gurgaon and Bangalore. The Gurgaon project is is of 98,000 square meters or 1.05 million sq. ft., while the Bangalore project will add 58,000 square meters of saleable area. The Gurgaon ‘group housing project’ is located 5 […]
Pharmaceutical company Strides Shasun said it received approval from the United States Food & Drug Administration to sell nausea drug Promethazine Hydrochloride in the country. The US market for Promethazine Hydrochloride tablets is approximately USD 17 Million. It will be sold in three doses ranging from 12.5 mg to 50 mg. Promethazine Hydrochloride Tablet is […]
Infosys said it appointed Unilever veteran D Sundaram as an independent director. He is currently the Vice Chairman and MD of TVS Capital Funds Ltd. “He joined Unilever Group in 1975 and served in various leadership capacities in Unilever Group in a career spanning over 34 years, including Director of Finance & IT, and Vice […]
