Comments
Jubilant Life Sciences stock today surged nearly 8 per cent after it received final approval from the US health regulator to sell tablets used in the treatment of hypertension in the American market.
The scrip gained 7.81 per cent to Rs 546.70 — its 52-week high — on the BSE.
On the NSE, the stock jumped 7.74 per cent to touch 1-year high of Rs 546.90.
In a BSE filing, the company said: “It has received abbreviated new drug application (ANDA) final approval for Felodipine Extended-Release Tablets USP, 2.5 mg, 5 mg, and 10 mg, the generic version of Plendil tablets of AstraZeneca.”
As on June 30, 2016, Jubilant Life Sciences had 770 filings for Oral Solids, of which 578 have been approved in various regions globally.
AstraZeneca Pharma
AstraZeneca Pharma stock plunged almost 11 per cent today as it will stop selling anti-bacterial drug Meronem in India following a global deal by its UK parent to sell its small molecule antibiotics business to Pfizer Inc.
The scrip tanked 7.93 per cent to Rs 1,050 on the BSE. On the NSE, it dipped 10.83 per cent to Rs 1,015.
Meronem is an anti-bacterial used for the treatment of serious infections in hospitalised patients.
The company has received a notice from AstraZeneca UK for termination of distribution arrangements for Meronem in India, AstraZeneca Pharma India had said in a regulatory filing yesterday.
“The current distribution arrangement for Meronem in India will terminate in six months,” it added.
This is a result of a global agreement by AstraZeneca PLC to sell the development and commercialisation rights to Pfizer Inc of its late stage small molecule antibiotics business, it said.
Tata Global
Shares of Tata Global gained as the company mulls sale of China operations.
Tata Global Beverages jumped as much as 3.8 per cent to Rs 145.50, highest since August 9.
The company is exploring multiple options for China operations, including restructuring or sale, chairman Cyrus Mistry was quoted as saying at annual shareholders meeting.
“For China, we are exploring different options, which could be restructuring or sale, but these are still in the exploration stage,” Mistry said.
Tata Global could not be immediately reached for a comment.*
Tata Global is in China via joint venture Zhejiang Tata Tea Extraction Co, in which the company owns 70 per cent stake.
Welspun India
Welspun India shares hit daily lower limit for fourth day after Target Corp has terminated business over cotton sheet dispute.
Welspun India shares recovered from daily lower limit fall and was trading higher by 4.3 per cent at Rs 61.85 on the BSE.
Monsanto India
Monsanto India shares fell as parent company has pulled new GM cotton seed from India.
Monsanto India fell as much as 2.9 per cent to Rs 2,369.95.
Reuters reports that US parent company Monsanto Co has withdraws an application seeking approval for its next generation of genetically modified cotton seeds in India.
The step has escalated a long-running dispute between New Delhi and the world's biggest seed maker.
Monsanto Co owns an about 72 per cent stake in Monsanto India, which is the only publicly listed Monsanto entity outside the US.
Monsanto India rivals such as Kaveri Seed and Jain Irrigation Systems were up 2.2 per cent and 0.7 per cent. respectively.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.