Global pharma major Lupin Limited (Lupin) today announced the launch of Tiotropium Bromide Inhalation Powder, 18 mcg/capsule, for the treatment of chronic obstructive pulmonary disease (COPD) in the US. Tiotropium Bromide Inhalation Powder, 18 mcg/capsule is a generic equivalent of Spiriva® HandiHaler® (Tiotropium Bromide Inhalation Powder), 18 mcg/capsule of Boehringer Ingelheim Pharmaceuticals, Inc.
Criisl Ratings has upgraded its rating on the long-term bank facilities of Aditya Vision Limited (AVL) to ‘Crisis A-/Stable’ from ‘Crisis BBB+/Stable’. The upgrade reflects strengthening market position as reflected in healthy revenue of Rs 641 crore in Q1 fiscal 2024 (Rs 439 crore in Q1 fiscal 2023) and Rs 1,322 crore for fiscal 2023 (Rs 899 crore in fiscal 2022). The 47% revenue growth on-year in fiscal 2023 is driven by wider outlet coverage with AVL opening 41 stores in 2 fiscals through March 31, 2023 and another 12 stores in Q1 fiscal 2024. AVL entered Jharkhand in fiscal 2022 and eastern UP in fiscal 2023.
Aurobindo Pharma Limited, along with its subsidiaries, has announced a tentative approval from the USFDA under the PEPFAR program for the first generic dispersible tablet formulation of the fixed dose combination Abacavir 60mg + Lamivudine 30 mg + Dolutegravir 5 mg (pALD), for the treatment of children living with HIV weighing 6 kg to <25 kg and aged at least 3 months. Aurobindo has a paediatric dolutegravir voluntary licence with ViiV Healthcare, enabling development and supply of this product in 123 Low and Middle-Income Countries (LMIC), including India. This is one of the fastest approvals for a generic combination product following approval of the innovator formulation, with ViiV having secured USFDA approval in March 2022. Aurobindo’s product is already filed with the Drugs Controller General of India (DCGI) and is expected to be approved soon.
The government is planning to sell a part of its holding in the state-owned Indian Railway Finance Corp (IRFC) through an offer for sale (OFS) in the current fiscal, a PTI report quoting an official said on Wednesday. The government currently holds an 86.36 per cent stake in the financing arm of the Indian Railways. The official said that an inter-ministerial group (IMG) comprising senior officers from the Department of Investment and Public Asset Management (DIPAM) and the Railways Ministry has started consultations to decide on the quantum of stake dilution
Alibaba group firm Antfin has transferred its 10.3 per cent stake in One97 Communications to the fintech firm’s founder and CEO Vijay Shekhar Sharma, according to a regulatory filing. The transaction was completed on August 14, which brought the total stake of Antfin to 13.49 per cent from 23.79 per cent earlier, the filing said.
Power Finance Corporation (PFC) on Wednesday said Parminder Chopra has taken over as its first full-time women Chairman and Managing Director.
Nava Limited has announced that there has been an accidental damage in the raw material handling system, thereby affecting the raw material feeding system and other supporting infrastructure. There were no human injuries or casualties due to this accident. The company has insurance coverage in place for material damage and business interruption.
Shareholders of Wockhardt Ltd have rejected a resolution on a related party transaction that seeks to allow the company to raise up to ₹1,600 crore from its promoter group firm Khorakiwala Holdings and Investments Pvt Ltd. At the company’s AGM held on August 14, the company had put 10 resolutions, including the adoption of audited financial statements and the re-appointment of Murtaza Khorakiwala as Managing Director, for approval by the shareholders, all of which were approved except the related party transaction.
Promoter JSW Investments on Wednesday pared a 1.27 per cent stake in JSW Energy for Rs 717 crore through open market transactions. GQG Partners, Washington State Investment Board, AustralianSuper, Reliance Trust Institutional Retirement Trust Series Twelve, Witan Investment Trust Plc, and Alliance Trust Plc, among others, were the buyers of the shares of JSW Energy. According to the block deal data available with BSE, JSW Investments offloaded 2.10 crore shares, amounting to a 1.27 per cent stake in JSW Energy.
US-based boutique investment firm GQG Partners along with other investors on Wednesday bought an 8.1 per cent stake in Adani Power Ltd for over Rs 9,000 crore (USD 1.1 billion) as the marquee investor shrugged off damning report of a US short seller to invest in billionaire Gautam Adani’s group.
IT major Wipro on Wednesday said it has launched a centre of excellence on generative artificial intelligence in partnership with the Indian Institute of Technology, Delhi. Set up on the premises of the Yardi School of Artificial Intelligence at IIT Delhi, the Centre Of Excellence (CoE) will support applied research in generative AI, according to a statement.
Cipla has said that it has received an order for suspension of FDA license (from Office of the Joint Commissioner-Konkan Division, Food and Drugs Administration) for company’s manufacturing unit at Patalganga (Unit II) for a period of 10 days in December 2023 for non-conformance of good manufacturing practices under Drugs and Cosmetics Act, 1940 and rules made thereunder. The company said it is not in agreement with the FDA rulings and is in the process of appealing the said order to the State Government.
The board of Essar Shipping has approval for disinvestment in overseas direct investments (ODI) and sale of shares of wholly owned subsidiary companies - Energy II Limited, Bermuda; Essar Shipping DMCC, Dubai; and OGD Services Holdings Limited, Mauritius. After completion of said transaction, the said three companies will cease to be the subsidiaries of Essar Shipping.
The board of directors of Skipper has approved for the issuance of equity shares worth Rs 200 crore via Rights Issue to the eligible equity shareholders as on the record date
Syschem India Ltd has received an order worth ₹57. 82 lakh from Pharmacare International for supply of Cephalexin Monohydrate P.
Results Calendar: The board of recently-listed Yatharth Hospital and Trauma Care Services Ltd will meet today to consider quarterly results.