Alembic Pharma gets USFDA nod for Acetazolamide ER capsules; stock up 1%
Alembic Pharmaceuticals has received approval from the US Food & Drug Administration (USFDA) for its ANDA Acetazolamide Extended-Release (ER) capsules, 500mg. The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Diamox Sequels, 500 mg, of Teva Branded Pharmaceutical Products R&D Inc, as per BSE filing.
Acetazolamide Extended-Release Capsules, 500mg has an estimated market size of $13.1mn for twelve months ending December 2018 according to IQVIA.
Aarti Industries signs supply contract worth Rs900cr
Aarti Industries in its filing to the exchanges on Wednesday informed that the company has inked a $125mn (Rs900cr at current exchange rate) supply contract with a global chemical conglomerate.
"The contract entails supply of a high-value specialty chemical intermediate for a period of 10 years," the company added. The plant is expected to commission in the fourth quarter of FY21, with an average annual revenue of $12.5mn.
Strides gets USFDA approval for Ethosuximide Softgel capsules
Strides Pharma Science on Wednesday announced that its step�down wholly-owned subsidiary Strides Pharma Global Pte Ltd, Singapore, has received approval for Ethosuximide Softgel Capsules USP, 250 mg, from the United States Food & Drug Administration (USFDA).
The product is a generic version of Pfizer's Zarontin Capsules, 250 mg.
The product was approved in the first review cycle in less than 10 months of its filing under the GDUFA II regime. Strides specializes in the softgel domain and is a global leader in the Rx space.
ADAG stocks decline after Anil Ambani held guilty of contempt
Stocks in the Anil Dhirubhai Ambani Group (ADAG) declined in the morning trade on Wednesday after media reports said that the SC held Reliance Group chairman and its two directors guilty of contempt for willfully not paying Rs550cr to Ericsson.
Ericsson had filed three contempt plea in the Supreme Court for not clearing its dues. The SC said that Anil Ambani and the two directors had to pay Rs453cr to Ericsson India in four weeks, failing which they could be jailed for at least three months. The court has also imposed a fine of Rs1cr both the directors. If they fail to deposit the fine, one-month jail will be awarded, the report added.
�We respect the Hon'ble Supreme Court judgement. The RCOM Group shall comply with same,� the company said in the BSE filing.
Yes Bank clarifies on releasing nil divergence report; stock gains 2%
Yes Bank's shares gained 2% on Wednesday after the bank clarified on releasing nil divergence report and stated that information was in due compliance.
The exchange had sought a clarification from the bank regarding Risk Assessment Report (RRR) for the year ended March 31, 2018. In reply to that, the bank said, "it was deemed expedient to share this information through the stock exchanges to all market participants and not to withhold the same till finalisation of the Annual Results."
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