Glenmark Pharmaceuticals said received approval from the United States Food & Drug Administration to sell cholesterol-lowering drug Colesevelam Hydrochloride in the country. The approval is for two packet sizes – 1.875 grams and 3.75 grams. Colesevelam Hydrochloride is the generic version of Daiichi Sankyo’s oral suspension Welchol. Welchol had annual sales of approximately $73.0 million for […]
The annual rate of inflation, based on monthly WPI, stood at 5.77% (provisional) for the month of June, 2018 (over June, 2017) as compared to 4.43% (provisional) for the previous month and 0.90% during the corresponding month of the previous year. This is one of the highest rates of inflation in recent months, and could […]
Pharma major Lupin said its Goa facility has successfully completed an inspection by the UK Medicines and Healthcare Products Regulatory Authority. “There were no critical or major observations in the inspection,” it said, indicating that products made at the facility can continue to be sold in the UK market. This is not the first such […]
GAIL, the government-owned pipeline company, said it will spend Rs 755 cr to put in place a gas pipeline grid in Varanasi, Narendra Modi’s Lok Sabha constituency. The grid, which has been inaugurated, will cover an area of 1,535 sq km, it added. About 1 lakh households are likely to be covered in the project. […]
Multiplex theaters in Maharashtra will have to allow customers to carry their own food items into the exhibition hall, Maharashtra government said in the legislative assembly. The statement by consumer affairs minister Ravindra Chavan in the assembly comes in the context of a public interest litigation being heard in the Mumbai High Court about ‘overcharging’ […]
Construction major Larsen & Tourbo said it got the order to construct the tallest government building in India at Amaravati, the upcoming capital of Andhra Pradesh. It said the order was part of a contract to build Head of Department office buildings at Amaravati. The buildings will house the headquarters of the various government departments […]
Sun Direct, the No.1 direct-to-home service in South India, has threatened to remove all channels of India’s largest broadcasting company, Star India, from all its subscription packs from August 1. The channels will continue to be available on the platform, but users will have to purchase the channels individually at prices ranging from Rs 10 […]
Bharti Airtel said the Reserve Bank of India has lifted the restriction on signing up new customers imposed on its banking unit Airtel Payments Bank. The restriction was imposed in January after reports that the company was signing up its mobile customers on its payments bank platform without seeking their full consent. Payments Banks are […]
Info Edge, one of India’s pioneering dotcom companies, said four of its websites were taken offline by a hardware failure at the data center. However, said the company, the websites are now working normally, and business is unlikely to be affected. The suspected hardware failure took place on Tuesday evening. The websites impacted were the […]
Three months after Tata Consultancy Services became the first Indian company to achieve a market capitalization of $100 bln (Rs 6.85 lakh cr), Reliance Industries is close to the $100 bln mark as well. At present, there are only around 100 companies in the world whose shares are worth $100 bln or more, including the […]
Facebook has refused to block a ‘drinker’s group’ that the Kerala Police had requested to be taken down, according to local media reports. The social network reportedly told the police that the group was not in violation of its guidelines and cannot be taken down without proper justification. The Kerala Excise department is trying to […]
India’s real estate sector is witnessing a healthy turnaround with rising sales and declining inventory, numbers from Anarock Property Consultants revealed. According to the market tracker, there has been a 24% jump in real estate unit sales in the latest quarter (April-June 2018) compared to the previous three months. The jump comes on top […]
Vehicle sales in India are on a strong growth curve in the new financial year, according to numbers released by the Society of Indian Automobile Manufacturers or SIAM — the apex body of automakers in India. A total of 53.79 lakh vehicles were produced in the two months, 15.16% higher than the 46.71 lakh vehicles […]
Market tracker CyberMedia Research has called Reliance Jio’s 4G and GigaFiber broadband subscriber targets unrealistic, and said it did not see the company meeting the year-end target of 300 mln for its 4G service or the 50 mln target for its fiber broadband service. “We at CMR feel Jio might slow down around 260-275 million […]
Social media users posting in one of Kerala’s biggest Facebook Groups are facing the prospect of being sent to jail for ‘encouraging alcoholism’ by glamorizing drinking. Given there’s no law against glamorizing drinking, Kerala Excise Department is reported to have directed the police to use other laws — such as those against child abuse and […]
Zydus Cadila said it has received tentative regulatory approval from the US Food & Drug Administration for selling Deferasirox, used to chelate or expel excess iron from the blood. The drug is sold under names such as Exjade, Desirox, Defrijet, Desifer, Rasiroxpine and Jadenu. Tentative approval means that the company has to wait for all […]
Authorities at Little Lourdes Mission Hospital near Pala in Kerala have stopped asking patients to specify their religion after a unique form of protest by a young man named Sunil K Sudheer. Sunil had reached the hospital earlier this week for a doctor’s appointment for his 58-year-old mother Sarasamma. “I started filling the registration form,” […]
Reliance Jio’s newly unveiled qwerty handset Jiophone 2, priced at Rs 2,999, has caused much excitement due to two reasons. First, it’s probably the only phone in India to come with both 4G support as well as a QWERTY keypad in the sub-20,000-rupee price bracket. Before Jiophone 2, one would have had to go for […]
SpiceJet said it has started selling tickets under its ‘Mega Monsoon Sale’ with ticket prices starting at Rs 999 for travel in India. The five-day sale launched today will be open till midnight of Monday, 8 July 2018. Bookings can be made for travel between 4th July to 8 October. Tickets under the sale can […]
Maruti Suzuki said it has sold 3 lakh units of Vitara Brezza, the most popular SUV to have hit the Indian market ever. Given that the model was launched in March 2016, this works out to average sales of 10,700 units per month. The number of cars that sell above 10,000 units in India can […]
