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Monday 30 July 2018

CAPITALSTARS CORPORATE NEWS UPDATE

CapitalStars Investment Adviser

BSE to launch Weekly Dollar-Rupee Futures & Options Contracts on July 30
Bombay Stock Exchange (BSE) will launch Weekly Dollar – Rupee Futures & Options Contracts on July 30, 2018, a move that will help increase liquidity in the market. The announcement comes after the exchange received markets regulator Sebi’s approval for introducing weekly contracts on USDINR Futures & Options. Currently, Monthly contract are available on all approved currency pairs including USDINR currency pair.

Cadila gains on USFDA’s approval to market Vardenafil Hydrochloride Tablets
Global pharmaceutical company, Zydus Cadila, gained in Monday morning trade after receiving a tentative approval from the United States Food and Drug Administration (USFDA) to market Vardenafil Hydrochloride Tablets.
Approval has been granted to market tablet in the strengths of 2.5 mg, 5 mg, 10 mg and 20 mg.  The drug is used to treat erectile dysfunction. The company will manufacture tablets at its formulations manufacturing facility at SEZ, the company said in exchange filing today.

Aurobindo receives USFDA approval for gAngiomax
Aurobindo Pharma has received the final USFDA approval to manufacture and market Bivalirudin injection, 250 mg/vial. Bivalirudin injection is indicated for use as an anticoagulant in patients. This is a generic equivalent to the reference listed drug (RLD) product Angiomax Injection of The Medicines Company.
According to IQVIA, the estimated market size of Bivalirudin injection in US is $101mn for the 12 month period ended May 2018. There are 6-7 generics approved in this drug, including companies like Sandoz and Hospira (since 2015), Fresenius (November 2016), Dr. Reddy’s Lab (since June 2017) and Mylan (since June 2018).

Sugar prices recover on Govt measures, but sustainability uncertain in face of continued oversupply conditions
Backed by Government measures, domestic sugar prices have recovered to around Rs33,500/MT (ex-mill UP) from a low of Rs26,500/MT in May. Recent Government measures such as creation of 3 million MT buffer stock and fixing of minimum selling price (MSP) for sugar at Rs29,000/MT, has helped the sugar industry. However, as per an ICRA note, the sustainability of the same is uncertain, given the likelihood of another year of bumper production in SY2018-19. Further, the hike in FRP is likely to result in margin pressures and provide further impetus to farmers to sow sugarcane, which is likely to exacerbate the oversupply conditions.

Lupin gains 2% as Mandideep facility receives EDQM attestation for Cefaclor
Pharma major Lupin's stock rose nearly 2% in noon trade on Monday after the company received an attestation from the European health regulator for its Mandideep facility in Madhya Pradesh.
"Focusing on the Application for Certificate of Suitability for the dossier of Cefaclor, the European Directorate for the Quality of Medicines (EDQM) had inspected the facility in March 2018," the company said in the release to the exchanges on Monday.
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