TOP CORPORATE NEWS:- 1 Dec 2017

top corporate news
TOP Headlines Of The Day:- 1 Dec 2017

Biocon gets EU regulator nod for trastuzumab biosimilar
Piramal Enterprises acquires Digeplex from Shreya Lifesciences
Dr.Reddy’s gets USFDA nod for Impoyz cream
LIC sells over 2% stake in Bank Baroda
M&M Nov auto sales rises 18% at 38,570 units

Biocon gets EU regulator nod for trastuzumab biosimilar
Mylan N.V. and Biocon announced that the European Medicines Agency (EMA) has accepted for review Mylan’s Marketing Authorization Applications (MAA) for proposed biosimilar trastuzumab and proposed biosimilar pegfilgrastim.
EMA acceptance of the submissions follows an earlier withdrawal of both applications in response to an audit conducted by the European inspecting authority of Biocon’s drug product facility. Biocon has completed the Corrective and Preventive Actions (CAPAs) outlined as a result of the audit observations. The CAPAs will be confirmed during reinspection, which will be completed as part of the regulatory review process.

Piramal Enterprises acquires Digeplex from Shreya Lifesciences
Piramal Enterprises has announced that they would be acquiring Digeplex and the associated brands from Shreya Lifesciences for an undisclosed sum in order to expand their consumer products business. Specifically, this acquisition would help with expanding the gastro-intestinal product portfolio of Piramal Enterprises. According to the management, the gastrointestinal market has been growing at 11% every year.
In FY17, the company’s revenue from the pharma business came in at ~Rs4, 054cr. Of this, Rs3, 517cr came in from the Global Pharma business and Rs537 came in from the Indian Consumer Products business. The company’s revenue from pharma has grown by 17% CAGR from FY11-17 and is expected to reach Rs6, 500-7,000 by FY20.

Dr. Reddy’s gets USFDA nod for Impoyz cream
Dr. Reddy’s Laboratories Ltd through its wholly owned subsidiary Promius Pharm, LLC, has announced its fifth consecutive, first cycle NDA approval for Proprietary Product Group.
Impoyz (Clobetasol Propionate) cream, 0.025% is a high potency topical steroid approved for the treatment of moderate to severe plaque psoriasis in patients 18 years of age or older.
Psoriasis is a serious medical condition affecting ~7.5 million people in the United States. Impoyz formally referred to as DFD-06, had been recently licensed to Encore Dermatology Inc. for the commercialization of the product in the US.

LIC sells over 2% stake in Bank Baroda
Shares of Bank of Baroda closed down 0.77% lower today.
On Thursday, the lender later told stock exchanges in a regulatory filing that LIC has cut its stake in the state-run bank by 2.05 percentage points to 5.194% from 7.249% earlier.

M&M Nov auto sales rises 18% at 38,570 units
Mahindra & Mahindra Ltd. announced its auto sales performance for November 2017 which stood at 38,570 vehicles, compared to 32,564 vehicles during November 2016.
The Passenger Vehicles segment (which includes UVs, Cars and Vans) sold 16,030 vehicles in November 2017, as against 13,198 vehicles during November 2016, a growth of 21%.
The company’s domestic sales stood at 36,039 vehicles during November 2017, as against 29,869 vehicles during November 2016, registering a growth of 21%.

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