Aurobindo Pharma acquires 7 oncology products from US-based firm
Aurobindo Pharma in its filing to the exchanges informed that the company�s subsidiary Acrotech Biopharma LLC has completed the acquisition of the portfolio of 7 marketed oncology injectable products, intellectual property, and commercial infrastructure from Spectrum Pharmaceuticals Inc.
The acquisition was for an upfront purchase price of $160mn in cash plus up to $140mn (aggregating ~Rs2, 125cr) on achieving regulatory and sales-based milestones, the company said in a press note to the exchanges on Saturday.
Govt to offload all SUUTI stake in L&T to meet divestment target
The government is all set to sell its entire stake it held in Larsen & Toubro (L&T) through Specified Undertaking of the Unit Trust of India (SUUTI) in near-term to meet ~Rs80, 000cr disinvestment target for FY19, a Business Standard report stated.
The Centre holds a 1.8% stake L&T through SUUTI, valued at a little ~Rs3, 300cr as of Friday�s closing price of L&T shares. The department of investment and public asset management (DIPAM) plans to sell shares worth ~Rs2, 000cr before March 31.
Reliance Infra bags AAI contract worth Rs648cr for new greenfield airport in Gujarat
Reliance Infrastructure Limited E&C has received the Letter of Award (LOA) from the Airport Authority of India (AAI) for a contract worth Rs648cr for the construction of a greenfield Airport at Hirasar in Rajkot district of Gujarat.
Reliance Infrastructure Limited had participated in the tender for engineering, procurement, and construction (EPC) contract independently as the main contractor.
Glenmark gains on USFDA nod for Telmisartan and Hydrochlorothiazide tablets
Shares of Glenmark Pharma rose 1.5% on the BSE in morning trade as the company received USFDA approval for Telmisartan and Hydrochlorothiazide tablets.
�Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the USFDA for Telmisartan and Hydrochlorothiazide Tablets USP, 40 mg/12.5 mg, 80 mg/12.5 mg, and 80 mg/25 mg, a generic version of Micardis HCT Tablets, of Boehringer Ingelheim Pharmaceuticals, Inc,� as per BSE filling.
Tata Motors denies on reports of JLR stake sale
Tata Motors in its filing to the exchanges clarified on media reports that stated that the company is exploring options for Jaguar Land Rover Automotive Plc (JLR) including stake sale.
"There is no truth to the rumors that Tata Motors is looking to divest its stake in JLR and we would not like to comment further on any market speculation," the company said in a press note after-market hours to the exchanges on Friday.
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