Tata Steel Europe reports debt reduction

Tata Steel said its European subsidiary, Tata Steel Netherlands Holdings, has refinanced its bank debt by raising term loan facilities of 1.75 billion euros. In comparison, Tata Steel’s European operations had reported a debt of over 2.2 billion euros as of March. “This represents a reduction of EUR 500 million versus the external debt outstanding […]

Infosys to acquire ABN AMRO’s mortgage services unit

Bengaluru-based IT services firm Infosys said it will take over the mortgage administration services unit of ABN AMRO, based in Amsterdam, Netherlands. Infosys will acquire a 75% of the shareholding in Stater, while the remaining stake will continue to be with ABN AMRO. Financial details of the deal were not disclosed. Stater offers pure-play, end-to-end […]

Lupin gets EU approval for own muscle disorder drug

Lupin said the European Commission (EC) has approved mexiletine for the symptomatic treatment of nondystrophic myotonic (NDM) disorders in adults. Non-dystrophic myotonic disorders are a group of rare, inherited neuromuscular disorders which cause the inability to relax muscles following voluntary contraction. Lupin’s NaMuscla reduces myotonia symptoms in adult patients, resulting in a significant improvement in […]

EU accepts Biocon, Mylan’s application for cancer biosimilar pegfilgrastim

Indian pharma company Biocon and its partner Mylan said EU authorities have accepted for review their applications for approving cancer treating biosimilars trastuzumab and pegfilgrastim submitted after completing corrective actions. The applications were resubmitted last month after being pulled in August in response to audit observations relating to one of Biocon’s drug facilities. At the […]

Dr Reddy’s says EU approves production at Duvvada plant in Andhra

Pharma major Dr Reddy’s Laboratories said European Union authorities have again allowed it to produce drugs for sale in the EU region at its Duvvada factory in Andhra Pradesh. In its inspection conducted in September, the Regulatory Authority of Germany (Regierun von Oberbayern) had made six major observations on the formulations manufacturing facility near Vishakapattanam. […]

Biocon, Mylan apply again for EU approval for cancer drugs trastuzumab, pegfilgrastim

Biocon said its partner Mylan has resubmitted the marketing application for two substances used to treat cancer — trastuzumab and pegfilgrastim — before European authorities after making changes to their production facilities. The drug applications before the European Medicines Agency (EMA) were withdrawn in August after the authorities refused to issue approval without reinspecting the […]

Hexaware Technologies opens new operations center in Bucharest

Hexaware Technologies Limited, a BPO and Digital services provider, said it has expanded its delivery presence in the European region by opening of its latest Global Delivery Centre in Bucharest, Romania. The Bucharest Global Delivery centre is situated in a prime location and in close proximity to several key clients within the European region, said […]

Government signs MoU with University of Latvia for Ayurveda research

A memorandum of understanding was signed between the Central Council for Research in Ayurvedic Sciences (CCRAS) and University of Latvia to provide a structured framework for taking forward academic research activities in Ayurveda. An Ayurveda professor will be sent to the University through deputation. University of Latvia had developed the first Ayurveda professional development course […]