Lupin gets FDA approval for Testosterone Gel
Pharma major Lupin Limited (Lupin) announced that it has received approval for its Testosterone Gel, 1.62% (20.25 mg/1.25 g pump actuation), from the United States Food and Drug Administration (FDA) to market a generic version of AbbVie, Inc (AbbVie) AndroGel 1.62%.
Lupin Testosterone Gel, 1.62% (20.25 mg/1.25 g pump actuation), is the generic equivalent of AbbVie AndroGel, 1.62%. It is indicated for replacement therapy in males for conditions associated with a deficiency or absence of endogenous testosterone:
Primary hypogonadism (congenital or acquired) and
Hypogonadotropic hypogonadism (congenital or acquired)
Testosterone Gel, 1.62% (20.25 mg/1.25 g pump actuation), (RLD: AndroGel) had annual sales of approximately $893mn in the US (IQVIA MAT December 2018).
L&T buys Tidco's 3% stake in L&T Shipbuilding
Shares of Larsen & Toubro (L&T) rose 1% in the late morning trade after it purchased Tamil Nadu Industrial Development Corporation Ltd's (TIDCO) 3% stake in its subsidiary L&T Shipbuilding Ltd for Rs32.74cr.
The company has purchased the entire stake held by Tamil Nadu Industrial Development Corporation Limited (TIDC0) in L&T Shipbuilding Limited, a subsidiary company, on April 10, 2019, as per BSE filing.
Wockhardt gets USFDA nod for Decitabine injection
Shares of Wockhardt gained 2% on Wednesday after the company in its filing to the exchanges informed that it has received approval from the United States Food & Drug Administration (USFDA) for an ANDA for 50mg injection of Decitabine marketed in the US and other countries by Otsuka.
Decitabine is used to treat Myelodysplastic syndromes (MDS), a group of cancers in which immature blood cells in the bone marrow do not mature and therefore do not become healthy blood cells, the company said in a press note after markets hours to the exchanges on Wednesday.
According to IQVIA February 2019 data, the product has sales of $120mn the US.
Vedanta slips 3% after reports of Zambian villagers to sue company
Shares of Vedanta were trading 3% down on Thursday after media reports stated that the Supreme Court in the UK has ruled that Zambian villagers can sue the company in British courts over alleged pollution by a copper mine in the country.
As per reports, the company, which delisted from London exchanges last year but maintains a legal base in Britain, pleaded a lower-court ruling that a case could be heard in England. However, SC dismissed its plea and said the Zambian villagers could pursue their case through the English courts.
Cox & Kings Financial Services slips after listing on stock exchanges
Shares of Cox & Kings Financial Services (CKFS), the demerged entity from Cox & Kings, listed on the stock exchanges today.
The company board had approved the de-merger of the foreign exchange business into a separate financial services company. One fully paid-up equity shares of Rs10 each of CKFS was credited for every three fully paid-up equity shares of Rs5 each held by its shareholders, whose names had appeared on the record books as on October 28, 2018.
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