Lupin launches Clobazam Oral Suspension, 2.5mg/ml
Lupin in its filing to the exchanges on Friday informed that the company has launched Clobazam Oral Suspension 2.5mg/mL after having received approval from the United States Food and Drug Administration (USFDA) earlier.
"Lupin's Clobazam Oral Suspension, 2.5mg/mL is the generic version of Lundbeck Pharmaceuticals LLC's Onfi Oral Suspension, 2.5mg/ml," the company said in a press note to the exchanges on Friday.
Jet Airways gains 4% as board approves debt resolution plan
Shares of Jet Airways gained 4% in intraday trade on Friday after its board approved a debt resolution plan. The shares jumped to a high of Rs242.85, a jump of Rs17 from its previous close of Rs225.80 on the BSE.
The airline company is all set to receive an emergency loan of ~Rs600cr ($85mn) to tide over a cash crunch, a media report said.
As per the report, the airline company may get the loan from banks led by State Bank of India against the shares pledged by Founder and Chairman Naresh Goyal and partner Etihad Airways PJSC and backed by their guarantees.
Alembic Pharma gets USFDA approval for Moxifloxacin Ophthalmic
Alembic Pharmaceuticals has received approval from the USFDA for its ANDA Moxifloxacin Ophthalmic Solution USP, 0.5%. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Vigamox Ophthalmic Solution USP, 0.5%, of Novartis Pharmaceuticals Corporation, the company said in a regulatory filing.
Moxifloxacin Ophthalmic Solution USP, 0.5% has an estimated market size of $68mn for twelve months ending December 2018, according to IQVIA.
Alembic has a cumulative total of 86 ANDA approvals (73 final approvals and 13 tentative approvals) from USFDA, the filing added.
Sugar stocks rise after govt hikes MSP
Sugar stocks gained in today�s session after the government hiked the minimum selling price (MSP) of sugar by Rs2 per kg to Rs31.
Gayatri Sugars and Bannari Amman stocks jumped 3% each on the BSE. Followed by Bajaj Hindusthan Sugar, Shree Renuka Sugars, Balrampur Chini Mills, and Dhampur Sugar Mills Ltd, which were up in the range of 1-2% respectively.
JK Tyre gains 3% as board approves issue of equity shares on preferential basis
Shares of JK Tyre were trading 3% higher on Friday after the company �s board approved the issue of equity shares at Rs2 each to the promoter group on preferential basis.
"Approval has been granted at such price as may be determined in accordance with SEBI Regulations, up to an amount aggregating to Rs200cr subject to such approvals as may be required," the company said in a press note after-market hours to the exchanges.
Zee Entertainment in talks with Comcast and Sony to sell stake: Media report
Promoters of Zee Entertainment and Essel Group are in talks with US media giant Comcast and Japanese multinational conglomerate Sony Corporation to sell ~50% of their holdings in the firm as a part of their asset monetization to repay debt, CNBC-TV18 reported.
As per the report, bids by both the companies are in the range of Rs540-560/share and the promoters of the company may ink an exclusive binding agreement this week. As on December 31, 2018, promoters held 41.62% stake, the report added.
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