RBL Bank reports strong Q2, provisions jump

Mumbai-based RBL Bank reported a 48% jump in operating profit on strong growth in both interest as well as non-interest income. However, a near-doubling of provisions to Rs 140 cr (flat sequentially) prevented the full benefits from reflecting on the bottom line. The company’s overall...

Alembic JV clears USFDA inspection at its dermatology plant

Alembic Pharmaceuticals said one of its dermatology-focused joint ventures cleared its first United States Food and Drugs Administration (USFDA) inspection at its new formulation manufacturing facility located at Karakhadi, Gujarat, India without any observations. The inspection was carried out between 15th October, 2018 and 19th...

Dr Reddy’s sells Jeedimetla API plant to Therapiva

Dr. Reddy’s Laboratories, one of the biggest pharmaceutical companies in India, said it has agreed to sell its API manufacturing unit located in Jeedimetla, Hyderabad, to Therapiva Private Ltd, an emerging generics pharmaceutical company. The company did not reveal the financial details of the deal,...