TOP CORPORATE NEWS : -09 March, 2017

corporate-news

Lupin introduces pain relief drug in US
Pharma major Lupin announced that the launch of Hydrocodone Bitartrate and Acetaminophen Tablets USP, 5 mg/300 mg, 7.5 mg/300 mg and 10 mg/300 mg after having received an approval from the United States Food and Drug Administration ( FDA) earlier.
Lupin’s Hydrocodone Bitartrate and Acetaminophen Tablets USP, 5 mg/300 mg, 7.5 mg/300 mg and 10 mg/300 mg are the AA rated generic equivalent of Mikart, Inc’s Hydrocodone Bitartrate and Acetaminophen Tablets USP, 5 mg/300 mg, 7.5 mg/300 mg and 10 mg/300 mg. It is indicated for the relief of moderate to moderately severe pain.
Hydrocodone Bitartrate and Acetaminophen Tablets USP, 5 mg/300 mg, 7.5 mg/300 mg and 10 mg/300 mg had combined US sales of $79.6 million (IMS MAT December 2016).

Adani Ports raises funds via NCDs
Adani Ports and Special Economic Zone (APSEZ) has announced that it has raised Rs1000 crore through allotment of non-convertible debentures on private placement basis.
The company has raised Rs1000 crore today by allotment of 10,000 rated, listed, secured, taxable, redeemable, non-convertible debentures (NCDs) of the face value of Rs10, 00,000 each on private placement basis
Adani Ports and Special Economic Zone (APSEZ) represents a large network of ports with India’s largest Special Economic Zone (SEZ) at Mundra.

Wipro joins LoRa Alliance to accelerate IoT deployments
Wipro has announced that it has become a member of the LoRa Alliance, one of the fastest growing Internet of Things (IoT) alliances with over 400 members.
This membership will help Wipro accelerate its IoT solution deployments, using Low Power Wide Area Networks (LPWAN) technology for customers across industry sectors such as energy, utilities, natural resources, smart cities, ports, and logistics.

Maruti to launch two new cars and two product updates in FY18
Maruti to launch two new cars and two product updates in FY 18; aims for industry leading double digit growth; positive
Maruti Suzuki is gearing up to introduce four new products next fiscal. As part of the plan, in FY18 it will launch four products out of which two will be new models and two will be upgrades of the existing products.
The company will launch the all-new third generation Swift and upgraded version of its premium cross over S Cross.

Dr Reddy’s needs a doctor; stock hits 52-Week low
Dr Reddy’s Laboratories declined over 4% touching to Rs2851.4, after US Food and Drug Administration (USFDA) made 13 observations at the company’s formulations facility at Duvvada in Visakhapatnam.
The audit of our formulation manufacturing facility at Duvvada, Visakhapatnam, by the USFDA, has been completed today. We have been issued a Form-483 with 13 observations, which we are addressing.
The FDA issues a Form-483 if its investigators spot any conditions that in their judgment may constitute violations of the US Food Drug and Cosmetic (FD&C) Act and related laws.

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