Cadila gets final USFDA approval for Baclofen Tablets
Cadila Healthcare has received a final approval from the US Food & Drug Administration (USFDA) to market Baclofen Tablets (US RLD- Lioresal®), 10 mg and 20 mg. Despite the news, shares of the company dropped 2% on Tuesday.
The company will produce Baclofen Tablets from its formulations manufacturing facility at Baddi. These tablets are used to treat muscle spasms caused by certain conditions such as multiple sclerosis, spinal cord injury/disease, the company said in a press note to the exchanges.
Tech Mahindra receives order worth Rs270cr from Coal India: Media report
Tech Mahindra has bagged an order worth Rs270cr for IT modernization project from Coal India, as per PTI report. Despite this, the company’s shares fell 0.68% today.
According to media report, an order includes supply and implementation of Hospital Information Management System, across all eight subsidiaries of Coal India covering 21 hospitals.
The company is expected to implement the project in phased manner. It will finish the work in five years. In the first phase the company will implement ERP software in Coal India and its two subsidiaries, Mahanadi Coalfields and Western Coalfields, the report said.
Alembic Pharma gets USFDA approval for Temazepam Capsules
Alembic Pharmaceuticals, in a filing to the exchanges on Tuesday, announced that it has received an approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Temazepam Capsules USP (7.5mg, 15mg, 22.5mg, and 40mg).
"The approved ANDA is therapeutically equivalent to the reference-listed drug product (RLD) Restoril Capsules (7.5mg, 15mg, 22.5mg, and 40mg), of SpecGx LLC. Temazepam Capsules are indicated for the short-term treatment of insomnia," the company said in a press note on Tuesday.
IFCI up 5% on Binani Cement’s case resolution under IBC
Shares of IFCI rose 5% on the news of resolution of Binani Cement’s case under the Insolvency and Bankruptcy Code (IBC).
IFCI received Rs491.84cr towards the security receipts held by it in Binani Cements. On account of resolution of Binani Cements through the National Company Law Tribunal (NCLT), IFCI, which holds 42,16,850 security receipts of face value of Rs1,000/- each, has received an amount of Rs.491.84cr, net of TDS of Rs30.55cr, pursuant to the said resolution.
Tata Chemicals enters Canada; signs deal with Univar
Ingredients distributor Univar has secured a deal with Tata Chemicals to take the Indian company’s fermented, digestive health ingredients to Canada. Tata NQ, the nutritional solutions division of Tata Chemicals, offers customers digestive health ingredients with benefits which aim to meet growing consumer nutritional trends.
With the above agreement, Univar will be the sole distributor of Tata NQ’s Fossence and Gossence prebiotic dietary fibre portfolio of ingredients for the Canadian market. These fibres are used in a range of applications, including dietary supplements, functional foods (bakery, dairy, snack foods), confectionery, and pet food. Fossence and Gossence are made using Tata NQ’s proprietary in-house fermentation technology in a manufacturing facility in India.
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