TOP CORPORATE NEWS : -7 April, 2017

corporate

Cadila files 17 products with USFDA
Cadila Healthcare surged over 4%, touching to Rs466.1, after company announced that its Topical manufacturing facility in Ahmedabad successfully completed US drug regulator’s inspection.
Cadila Healthcare announced that United States Food & Drug Administration (USFDA) issued no observation (483) after inspecting company’s Topical manufacturing facility in Changodar near Ahmedabad from 3 April to 7 April 2017.
The company has filed 17 products with the USFDA from this manufacturing facility, it added.

L&T commissions gas turbines in open cycle
L&T has announced that the first 150 megawatts (MW) gas turbine for Bangladesh Power Development Board (BPDB)’s 225 MW combined cycle (dual fuel) power plant at Sikalbaha in Chittagong district was synchronised with the national grid on March 25, 2017.
The second 280 MW gas turbine for North West Power Generation Co (NWPGCL) combined cycle power plant of 360 MW capacity development project at
Bheramara in Kushtia district was synchronised with the grid on March 31, 2017.

Alembic Pharma gets USFDA nod for generic drug
Drug maker, Alembic Pharmaceuticals has announced that it has received approval from US Food and Drug Administration (USFDA) for it ANDA for Fluoxetine Hydrochloride Tablets.
The approved ANDA is therapeutically equivalent to the reference listed drug product Prozac Tablets, 10 mg and 20 mg, of Eli Lilly and Company.
Fluoxetine Hydrochloride Tablets are indicated for the treatment of Major Depressive Disorder and Obsessive Compulsive Disorder in adult and pediatric patients.
Fluoxetine Tablets are also indicated for the treatment of binge eating and vomiting behaviour in moderate to severe Bulimia Nersova and acute treatment of Panic Disorder, in adult patients.

RBL Bank opens IFSC banking unit at GIFT City
RBL Bank has announced the opening of its IFSC Banking Unit (IBU) at Gujarat International Finance Tec-City (GIFT City) here.
The leading private sector bank had received an in-principle approval from RBI for setting up IBU in November, 2016. This will give RBL Bank access to international financial markets. RBL Bank will raise foreign currency funds to meet its requirements in IBU and fund offshore subsidiaries of Indian companies, other foreign firms, and eligible Indian companies (via ECBs, bonds etc.), said Vishwavir Ahuja, Managing Director and CEO.

Deepak Fertilisers arm to buy 76% stake in PCPL
Deepak Fertilisers & Petrochemicals Corporation (DFPCL) said that Smartchem technologies (STL) a wholly owned subsidiary of the company has decided
to acquire majority stake in Performance Chemiserve (PCPL), a company engaged in packaging services to the chemical industry since 2006.
STL proposes to take up to 76% equity stake in PCPL by way of a fresh issue to fund further growth. After the acquisition of shares by STL, PCPL would become the subsidiary of STL and step-down subsidiary of DFPCL.
Separately, DFPCL announced that the domestic gas supply to the company has been arbitrarily stopped effective from May 15, 2014, pursuant to an order passed by Ministry of Petroleum, Government of India.

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