Dr. Reddy's regains rights for antibacterial product DFA-02
Dr. Reddy's Laboratories announced the termination of the license granted to Armis Biopharma, Inc. (formerly known as CHO Bioscience, Inc.) for its investigational antibacterial product, DFA-02, for the prophylaxis of surgical site infections (SSls).
As a result of the termination, Dr. Reddy's has regained worldwide rights to DFA-02, and is currently evaluating its options to take the program forward, as per filing to the BSE.
PNB gains 6% on report of ED attaching Nirav Modi’s assets
Shares of Punjab National Bank (PNB) gained ~6% on Monday after a media report said that the Enforcement Directorate (ED) has attached assets worth Rs637cr of diamond merchant and jeweler Nirav Modi and his family in 5 countries.
This was in connection with Rs13, 000cr alleged fraud in the bank. ED on Monday has attached properties, jewelery, flats, and bank balances of Modi and his family in India, UK, and New York among others, a media report said. This fresh action taken by ED is a part of five separate orders issued by the central probe agency under the Prevention of Money Laundering Act (PMLA).
Tata Motors misses volume estimate; retains CV growth momentum
Tata Motors Limited (TML), one of India’s largest automobile manufacturers, reported 20% yoy growth in domestic sales in September 2018. It sold 64,250 vehicles in India in September 2018 against 53,964 vehicles in September 2017. Exports were up 35% yoy at 5,250 units in September 2018. Total volume (domestic + export) at 69,500 units, was lower than BloomberQuint poll estimate of 70,600 units.
Zydus Cadila gets final nod from USFDA for Desoximetasone Cream USP
Zydus Cadila has received the final approval from USFDA to market Desoximetasone Cream USP (US RLD — Topicort Cream), 0.25%. It will be manufactured at the group’s topical manufacturing facility at Ahmedabad.
The group now has 219 approvals and has so far filed ~330 ANDAs since the commencement of the filing process in FY2003-04.
Lupin signs pact with Eli Lilly to distribute Aplevant in India
Lupin has partnered with Eli Lilly to distribute and market Lilly's Aplevant (dulaglutide), a once-weekly injection for type-2 diabetes treatment in India, the company said in a press release to the exchanges on Monday.
Lupin is likely to make Aplevant available in India in October 2018, the company added. An agreement has been signed with an aim to widen access to innovative diabetes medicines in India.
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