Zydus Cadila said it received final approval from the US Food and Drug Administration to market migraine drug Eletriptan Hydrobromide in the US. The drug is currently marketed and manufactured by Pfizer Inc and sold in the US and Canada under the brand name Relpax. The two key patents covering the drug are listed as […]
Assocham, a lobby of Indian industry, has urged the government to impress upon US President Donald Trump the extent of business activities carried on by American firms in India. Assocham’s comments come in the wake of moves by Trump to cut down on what he calls the ‘misuse of H1b visa’ program. According to the […]
India’s merchandise imports continued to grow at a blazing pace, widening the gap between the foreign exchange that the country earns from its exports and the money that it has to shell out for its imports. Imports for May rose by 33% compared to a year ago, resulting in a doubling of India’s trade gap […]
There was a massive 54% increase in the number of records stolen by cyber criminals across the globe in 2016, and the expanding adoption of connected devices is increasing the danger of hacking, Wipro Ltd said in its State of Cybersecurity Report. The report found that the emergence of smart devices like connected cameras, cars, […]
India’s second biggest pharmaceutical company Lupin said it has launched the generic version of Valeant’s Wellbutrin antidepressant tablet Wellbutrin XL in the US. Wellbutrin XL tablet has yearly US sales of USD 758 million or about Rs 5,000 cr. It is used for the treatment of major depressive disorder (MDD) and prevention of seasonal affective […]
Aurobindo Pharma said it received final approval from the US Food & Drug Administration to manufacture generic version of kidney drug Renvela from Genzyme. Sevelamer Carbonate oral suspension, 0.8 gm and 2.4 gm is being launched immediately, the company said. The drug had a market size of US$140 million (Rs 900 cr) for the twelve […]
Shares of Reliance Industries rose 3.5% today — an extraordinary move for such a large company — after it emerged that not only did the company not lose subscribers when it made the transition from free to paid services in April, it actually added a few million. The result was that the new entrant had […]
Pharma Major Lupin said received final approval for launching a generic version of Mallinckrodt Inc.’s Roxicodone Tablets in the United States. The drug is used for the management of pain severe enough to require an opioid analgesic and for which alternative treatments are inadequate, the company said. Roxicodone Tablets has US sales of USD 344 […]
ALTBalaji, the video app from Indian film and television content producer Balaji Telefilms, has joined the Amazon Fire TV platform, joining around 5,200 apps already on the platform. The e-retailer launched its video device in India two months ago at Rs 3,999 — slightly costlier than the competing product from Google, Chromecast. Both these devices […]
In an effort to boost tourism in its home town of Abu Dhabi, government-controlled Etihad Airways announced a set of freebies and packages for passengers transiting through the Gulf city. The biggest freebies are for first class passengers. They will get two free nights at any of the 60 hotels with which the airline has […]
SpiceJet, arguably the most aggressive low-cost carrier in India, has entered the e-commerce business with a new venture named ‘SpiceStyle!’ and also tied up with online giant Amazon. Products from the company will be available via the eponymous website, as well as on Amazon. The unit has been created as a subsidiary of SpiceJet. SpiceStyle! […]
Suven Life Sciences Ltd said it got a patent from Australia and another from the US for a new molecule used for treating disorders associated with Neurodegenerative diseases. The ‘new chemical entity’ patent no 2014358652 from Australia is valid through 2032, while that from the US will last till 2034, the company said. The chemical […]
SpiceJet, which was the most aggressive in pursuing the affordable airfare plan called UDAN, today started its services under the scheme. The airline started flights on the Mumbai-Porbandar route with at Rs 2,250 including all taxes and levies, while the fare on the Mumbai-Kandla and Kandla-Mumbai routes would be Rs 2,500. The fourth and last […]
Encouraged by a strong response, Honda Motorcycle & Scooter India said today it was advancing its roll-out target for its ‘Best Deal’ second-hand motorcycle chain in India. The company said it would add another 50 such pre-owned motorcycle shops in India in the remaining nine months of the current financial year. This will take the […]
Reliance Jio, the 4G operator is now offering 20% extra data to those who are using its services using a LYF branded handset. In other words, if you are eligible to get 1 GB of data per day, you will get 1.2 GB per day on a LYF device, and those who are on the […]
V2 Retail, formerly known as Vishal Retail, said it expects organized retail in India to grow a strong pace in the next three years to increase its share of the overall market to 24% by 2020. At present, the share of organized retail — mostly super markets and hyper markets, but also e-commerce — is […]
State Bank of India, the largest Home Loan Provider in India has reduced interest rates of high value home loans. Home Loans above Rs. 75 lakhs will now be cheaper by one-tenth of a percentage from 15 June, 2017. The revised interest rates will be 8.55% p.a. for salaried women borrowers. For others the rate […]
Reliance Industries said it commissioned its third and last crystallization train at its paraxylene complex at Jamnagar, making the company the biggest manufacturer of the key ingredient used in plastic production. Paraxylene is used to make intermediate chemicals that are then used to manufacture polyethylene terephthalate or PET. PET bottles are widely used for water […]
State Bank of India said it raised Rs 15,000 cr by selling its shares in a ‘qualified institutional placement’ or QIP, making it the largest such transaction in Indian share market history. QIP’s usually involve selling shares exclusively to big institutions such as mutual funds, banks and other investment houses and are cheaper and quicker than […]
IT services player Infosys again clarified that its promoters had no plans to bring down their stake in the company. “Infosys would like clarify reports in the media speculating on plans of stake sale by the promoters,” the company said in response to a decline in its share price. “This speculation has already been categorically […]
