Glenmark Pharmaceuticals has received tentative approval from the US health regulator for generic Calcipotriene cream, used for the treatment of plaque psoriasis. It said in a statement that Glenmark Pharmaceuticals Inc, USA, a subsidiary of the company, has been granted tentative approval by the United States Food & Drug Administration ( USFDA) for Calcipotriene cream, 0.005 per cent.
· Government officials meet to resolve issues of Oil&Gas firms
Top government officials meet to resolve complex issues of oil & gas firms & develop investment friendly policies– Positive for Oil&Gas sector .The government and the oil and gas industry have come together in a major initiative led by the Prime Minister's Office to create an investment friendly climate and a level playing field in the exploration sector that is mired in disputes and stagnating output.
·Maruti Suzuki post healthy April sales data
Maruti Suzuki's total sales jumped 29.6% to 1.11 lakh units in April 2015 over April 2014. Maruti Suzuki India's domestic sales rose 27.3% to 1 lakh units in April 2015 over April 2014. Exports surged 56% to 11,039 in April 2015 over April 2014. The company sold 1,11,748 units in April against 86,196 units in the corresponding period last year. Domestic sales increased by 27.3% during the month to 1,00,709 units against 79,119 units in April 2014. ·NTPC to build India’s biggest power plant in JV with Jharkhand
NTPC will build India's biggest power plant with an annual generation capacity of 6,400 megawatt (Mw)in a joint venture with Jharkhand state utility. The project will be set in two phases of 4,000 Mw and 2,400 Mw to be taken up later. NTPC will hold 76% stake in the Rs35,000-crore plant, Jharkhand State Electricity Board (JSEB) will own the remaining 24%.
·BHEL commissions 195 MW Thermal Unit in Bihar
State-owned power equipment maker BHEL today said it has commissioned a thermal unit of KBUNL in Bihar. 'This is the first 195 MW unit to be commissioned by Bhel at the 2x195 MW Muzaffarpur thermal power station of Kanti Bijlee Utpadan Nigam Limited (KBUNL) in Bihar,' the power equipment maker said in a statement. KBUNL is a joint venture of NTPC and Bihar State Power Generation Company Ltd.
·Alembic Pharma gains on tentative approvals for anti-seizure drug
Shares of Alembic Pharma gained 2% to Rs482 on NSE as the drug maker gets tentative approvals for anti-seizure drug- generic Vimpat (market size US$600mn); sentimentally positive
Alembic Pharma has got USFDA’s tentative approvals for anti-seizure drugs LACOSAMIDE, which is a generic equivalent of UCB’s Inc’s Vimpat. Vimpat generated over US$600mn of worldwide sales last year.
·Government increases import duty on rubber by 5% to 25%
The government has increased the import duty of natural rubber by 5% from 20% to 25%. The import duty on natural rubber now stands at 25% or Rs30kg whichever is lower. The import duty has been hiked to protect the interest of rubber planters majority from Kerala which have been reeling under the sharp fall in the natural rubber prices.
·Bosch shut Bangalore facility for a day due to low demand
Bosch Ltd suspended production at its Bangalore facility for a day on 2nd May so as to avoid inventory build-up and adjust production to meet demand. The facility produces diesel system products, power tools etc.
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