Glenmark receives approval for Norgestimate, Ethinyl Estradiol
Tablets
Glenmark
Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the
USFDA for Norgestimate and Ethinyl Estradiol Tablets, the generic version of
Ortho Tri-Cyclen Lo Tablets of Janssen Pharmaceuticals, Inc.
Glenmark’s
current portfolio consists of 107 products authorized for distribution in the
U.S. marketplace and 62 ANDA’s pending approval with the USFDA.
Bharti Airtel: Mittals and SingTel to buy 6% more in Airtel
The
promoters of Bharti Airtel, the Mittal family and SingTel, are looking to
acquire an additional 6% stake in the company. The promoters will acquire the
additional 6% stake through Bharti Telecom, which holds 43.96% in Bharti
Airtel.
The
additional stake in Bharti Airtel will make the Telco a subsidiary of Bharti
Telecom. The Mittal family and Singapore Telecommunications (SingTel) are
infusing Rs2, 500 crore equity capital into Bharti Telecom through a rights
issue to enable the transaction.
The
acquisition of shares will be funded through debt and equity. SingTel owns a
40% stake in Bharti Telecom, the Mittals own 51 per cent, while Temasek owns
7%.
Ashok Leyland falls as Nissan terminates JV
Shares
of Ashok Leyland dropped over 3% to Rs89.20 on NSE on back of reports that the
Nissan has terminated its JV with the company.
Nissan
has issued a termination of license notice to Ashok Leyland for one of the 3
JV’s formed to manufacture small trucks.
The
key reason for the dispute between the partners is over a paltry sum of Rs2.34
crore which Nissan says Leyland owes the JV.
Tech Mahindra signs five-year IT services deal with nationwide
Tech
Mahindra announced that it has been selected by Nationwide Building Society to
provide Network and Infrastructure Transformation services in a five year,
partnership agreement.
Wipro ties up with Verveba Telecom
Wipro has entered an agreement with Verveba, a telecom network
engineering company, for providing advanced mobile radio network optimisation
solutions.
The companies will jointly offer solutions to address industry
challenges mobile network technology deployments and optimization, especially
in 4G and single RAN technologies.
