Lupin gets US FDA warning letter for Somerset plant

Lupin Ltd, one of the world’s largest generic drug makers, today said it received a warning letter from the US Food and Drug Administration relating to its US-based manufacturing plant located in Somerset, New Jersey. “We wish to inform you that the Company has received a warning letter from the US FDA for the company’s […]

COVID second-wave impact temporary: Bharat Forge

Baba Kalyani, chairman and managing director of India’s largest forging and metal components manufacturer Bharat Forge, today expressed the opinion that the current economic setback on account of the second wave of COVID-19 is of a temporary nature. “The lock down in India to curtail the spread of Covid has clearly had an impact on […]

SpiceJet offers upto 30% discounts for doctors, nurses, paramedics

SpiceJet, India’s fastest-growing airline, said it will offer a discount of up to 30% on its base fares to registered healthcare professionals, including doctors, nurses and paramedics. Base fare excludes items like airport usage charges, taxes and so on. The offer is applicable for bookings and travel until 30 September, 2021. “To avail the benefits […]

PVR issues profit warning, all screens remain shut

PVR, India’s No.1 film exhibitor, said it has put on hold all construction and other capital expenditure related to new projects and screens, and issued a profit warning for the current quarter on account of the ongoing COVID-19 pandemic. “The Company opened 13 new screens in FY’21 which were already under fit-out prior to lockdown. […]

Airtel sells Tanzania towers for Rs 1,280 cr

Bharti Airtel said its Africa unit, Airtel Africa, has sold around 1,400 telecom towers in Tanzania to a joint venture company of SBA Communications Corp and Paradigm Infrastructure Ltd for $175 mn, or around Rs 1,280 cr. SBA Communications Corp is a leading global independent owner and operator of wireless communications infrastructure, while Paradigm is […]

AstraZeneca annuls diabetes drug deal with Abbott Healthcare

AstraZeneca India, which entered into a licensing deal with Sun Pharma for a key diabetes drug, said that it had terminated a distribution agreement for the same drug with Abbott Healthcare. The drug, dapagliflozin, was being supplied to Abbott Healthcare by the Indian unit of the British-Swedish company under a distribution agreement, which has now […]

AstraZeneca rejigs diabetes drug deal with Sun Pharma

AstraZeneca Pharma India, the local unit of the global pharmaceuticals giant, said it has decided to end its marketing agreement with Indian pharmaceutical giant Sun Pharma for two diabetes medications after the Indian company acquired a license to manufacture the same locally. In a separate statement, Sun Pharma said it has acquired the patent license […]

Delhi Police says we only want info from Twitter

Delhi Police today said it only wanted to ask Twitter for any information the company had about the so-called manipulation of a ‘toolkit’ that was allegedly prepared by the main opposition party, Indian National Congress. It also accused Twitter of refusing to hand over “material evidence” about manipulation of the photographs contained in some BJP […]

ICICI Bank’s Pockets becomes first wallet admitted to UPI network

ICICI Bank’s Pockets wallet has become the first financial institution in India to be permitted to offer UPI IDs in its own name and make transactions directly without routing it via a bank account. So far, UPI IDs were reserved only for those who have an account with any recognized Indian bank, including co-operative banks. […]

Zydus Cadila launches affordable breast cancer drug in India

Zydus Cadila, the pharmaceutical arm of the Zydus group, said it has launched a next-generation breast cancer drug in India at a fraction of its existing cost. The drug, Trastuzumab Emtansine, is considered the first targeted chemotherapy drug for breast cancer as it directs the cytotoxic activity at cancer cells by using a known biomarker. […]

Natco Pharma starts Ph III trial of new COVID drug molnupiravir

Less than a month after it approved for clinical trial approval, Hyderabad-based Natco Pharma said it has begun dosing patients in its phase III clinical trial for molnupiravir, a promising candidate for treating COVID-19 that is being studied across the world. Phase III trial data can be submitted to regulatory agencies for seeking approval of […]

Zee Entertainment reports mixed Q4 results

Zee Entertainment Enterprises Ltd, the country’s largest home-grown television and broadcasting company, reported a modest year-on-year improvement in its advertising and subscription revenue, but also saw the usual sequential decline when compared to the preceding, holiday quarter. The company’s results have become more difficult to compare due to the fact that the seasonally strong third […]

Aarti Drugs caps strong year with Q4 growth

Aarti Drugs, one of the biggest manufacturers of ingredients for the pharmaceuticals industry in India, reported a strong performance for the fourth quarter and full year 2020-21. All three of the Mumbai-based company’s business divisions — APIs or pharmaceutical ingredients, formulations or medicines, and specialty chemicals — contributed to a strong peformance, resulting in an […]

Jindal Stainless Q4 vol up 15%; sees strong demand

Jindal Stainless, India’s largest producer of stainless steel and part of the OP Jindal group, reported a strong recovery in its operating and financial performance during the fourth and final quarter of the financial year. For the three months ended March, the company’s sales volumes jumped 15% compared to the same period of last year […]

Blue Star says second wave a challenge, moderates project execution

Blue Star, one of India’s largest refrigeration and air conditioning companies, said it is moderating the pace of execution of large contracts to keep it in sync with clients’ ability to pay, and also said the second wave of the COVID-19 pandemic has posed a challenge to the growth trend seen in recent months. Chief […]