Shares of Strides Arcolab will remain in focus on the bourses as the company said it has received US Food and Drug Administration nod for generic Buspirone hydrochloride tablets. The company said in a post-market hours release that the product will be launched immediately in the US. The US market for Buspirone tablets is about $65 million, shows IMS data. The product will be manufactured at Strides' oral dosage facility at Bengaluru.

Pact with Teva bodes well for Venus Remedies

Venus Remedies has inked an agreement to manufacture an anti-cancer drug that Israel’s Teva Pharmaceutical Industries will market in Canada. The company did not disclose the name of the drug but said it has patent cover till 2016. It will initially manufacture the drug at Venus Medicine Research Centre in Himachal Pradesh and assist Teva in seeking registrations with regulators. Analysts will be keenly watching the development.

Financial performance of key companies

Wednesday will witness a number of keenly-watched companies announcing their April-June financial numbers. These include Thapar-controlled Ballarpur Industries, ICSA India, Elder Pharmaceuticals, Fedders Lloyd Corporation, HCL Infosystems and Singer India. Analysts will be especially interested in the performance of Elder Pharmaceuticals, the stock price of which has been declining and ruling at multi-year lows.

Published on August 26, 2014