Cadila’s Biologics manufacturing facility clears USFDA inspection
Cadila Healthcare has said that its Biologics manufacturing facility at the Zydus Biotech Park in Ahmedabad has been inspected by the USFDA. At the end of the inspection, no observation (483) is issued. The inspection took place from August 14 to August 24, 2018.
Biologics is not a big part of Cadila’s portfolio at the moment. The company has a pipeline of total 21 Biosimilars and 6 novel biologic products. Cadila has launched 9 Biosimilars in India and 4 in Emerging Markets.
Lupin receives EIR at Nagpur facility
Lupin has received the Establishment Investigation Report (EIR) from USFDA for its Nagpur facility. This facility was inspected by USFDA in May 2018 without any observation.
Lupin’s Nagpur plant is a formulation facility dedicated to the manufacturing of solid oral dosage forms. It is a new plant which got commissioned in August 2013.
With this inspection, the Nagpur plant will retain NAI (no action indicated) status in the USFDA’s database.
SREI Infra gains 11% on stake sale in subsidiary
SREI Infrastructure’s shares were trading 11% up in the late morning session on Friday as its subsidiary decided to sell its stake in the company’s step down subsidiary.
A subsidiary Quippo Oil and Gas Infrastructure offered to offload 2,600 equity shares, constituting 26% shareholding in its step down subsidiary Quippo Drilling International to an overseas entity, the company said in a statement to the exchanges on Friday. Quippo Drilling International is a subsidiary of Quippo Oil and Gas Infrastructure.
RCom sells some assets to Reliance Jio for Rs2,000cr
Anil Ambani-led Reliance Communications (RCom) has completed the sale of its media convergence nodes and related infrastructure to the tune of Rs2,000cr to Mukesh Ambani-led Reliance Jio.
In a BSE filing, the company noted that “With the successful completion of the MCN monetization transaction, 248 MCNs covering 5 million sq. ft. of the area, used for hosting the telecom infrastructure, stand transferred to Reliance Jio.”
Force Motors approves binding arrangements with Man Trucks India
The Board of Force Motors has accepted the proposal received from MAN Trucks India in respect of sale and transfer of certain assets, being immovable properties, movable properties and other assets of intangible nature, situated and being used by MAN Trucks India, at its plant at Pithampur District Dhar, Madhya Pradesh.
This arrangement is being recorded by binding agreements. The arrangement would be subject to receipt of necessary approvals, the company said in the filing.
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