Lupin said it entered into an exclusive deal to market some of US firm Salix Pharmaceuticals Inc’s products in Canada to expand its footprint in that region. Salix will get an upfront payment from Lupin, and will be entitled to additional payments contingent on meeting certain sales milestones. It will promote Salix products through its own sales force in Canada. Analysts will be tracking Lupin, as it is looking beyond the US, which is its main market.
FII cap may check YES Bank progress
The Reserve Bank of India on Friday said that foreign institutional investors will need prior approval to purchase shares of YES Bank as the total shareholding of such investors in the bank has reached the 49 per cent trigger limit. Shares of YES Bank ended up 1.20 per cent at ₹633 on the NSE. Major FII shareholders in YES Bank include DB International, Swiss Finance Corporation, Fullerton Fund and Goldman Sachs, while LIC controls 7.38 per cent stake.
Hiving off arm to boost Fortis Healthcare
Fortis Healthcare Singapore Pte Ltd, a subsidiary of Fortis Healthcare International Pte Ltd, one of Fortis Healthcare's step-down subsidiaries in Singapore, has decided to divest 100 per cent shareholding in RadLink-Asia Pte Ltd and its subsidiaries to Medi-Rad Associates Ltd. Through the stake sale, Fortis will realise S$137 million (about ₹650 crore). According to the company officials, the unlocked value will be brought back to India to strengthen growth.
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