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Weekly News: USFDA issues a warning letter to Cadila Healthcare

SMC | 04 Jan, 2016  | Follow Author | Add to my Favourites 
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Pharmaceuticals


- Cadila Healthcare has received a warning letter from the US Food and Drug Administration (USFDA) relating to its Moraiya formulation facility and Ahmedabad API facility.


- Dr Reddy's Laboratories Limited announced the re-launch of its Esomeprazole Magnesium Delayed-Release Capsules, a therapeutic equivalent generic version of Nexium, in the US market. The re-launch was due to a change in the capsule colour.


- Suven Life Sciences has been granted a patent each by Europe and Macau for drug used in the treatment of disorders associated with neurodegenerative diseases.The patents are valid through 2030 and 2029.


- Lupin has received final approval for its Fyavolv tablets from the US Food & Drug Administration to market generic version of Warner Chilcott's Femhrt tablets(Norethindrone Acetate and Ethinyl Estrabiol tablets USP, 0.5mg/0.0025mg and 1mg/0.005 mg). The tablets are dispensed for the treatment of moderate to severe vasomotor symptoms due to menopause and prevention of post menopausal osteoporosis.


Engineering


- Petron Engineering Construction has won a construction order from JSW Cement Ltd. The company in a release said that it has received a Letter of Intent from JSW Cement Ltd for civil and structural work for 2 x 1.2MTPA GGBS Grinding Unit at Salboni, West Bengal. The total contract price for the civil and structural work is `75 crore.


- Sunil Hitech Engineers has been awarded project for construction of 2,000 units G+3 (four Storey) Visthapit Awas by Jharia Rehabilitation and Development Authority, Dhanbad, Jharkhand. The total project cost is `83 crores and is to be executed over a period of 24 months.


Telecom


- Bharti Airtel has acquired 74 per cent stake in Augere Wireless, which holds 4G spectrum in Madhya Pradesh, but did not disclose financial details of the deal.


Education


- Educomp Solutions subsidiary Educomp Infrastructure & School Management Limited has executed agreements to sell one of its land and building to third party. The transaction completion is subject to fulfillment of customary conditions precedents. Appropriate announcement shall be made on deal completion.


Auto Ancillaries


- Steel Strip Wheels has commissioned a state of the art wider Hot Rolled Coils Slitting Line covering all the grades of Mild Steel and High Tensil Steel with a maximum width of 1650 mm and thickness in the range of 2mm to 8 mm. This facility has come up at its Dappar plant where it consumes the most steel. The company is also expected to commission a picking line at the same facility by the end of January 2016.


- Steel Strip Wheels has bagged a prestigious order from Mahindra & Mahindra for their new project. It will be an additional order for tractor wheels for domestic market. The total expected volume from this program over a period of 7 years is 366,000 tractor wheels. The total order value of the program would be `50 crore. Mass supplies are expected from January 2017.


Capital Goods


- Bharat Heavy Electrical has commissioned another 660 MW coal based super critical thermal unit in Uttar Pradesh. The unit has been commissioned at the upcoming 3x660 MW Prayagraj Super Thermal Power Project at Bara in Allahabad district of Uttar Pradesh. This greenfield thermal project is owned by Prayagraj Power Generation Company, a subsidiary company of Jaiprakash Power Ventures.


- KEC International has secured new orders of `1,001 crore in its transmission & distribution, cables and solar business.


Miscellaneous


- Credit Analysis & Research (CARE Ratings) and Japan Credit Rating Agency (JCR) have signed a Memorandum of Understanding (MoU) on 29 December 2015 to collaborate with each other as strategic business partners and have agreed to cooperate with each other to maximize their support for the Indian and Japanese companies' funding and other business activities.

 


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About SMC
SMC Research, founded in 1990, is India’s leading share and stock broker, provides a wide range of financial services and investment solutions. A blend of extensive experience, diverse talent and client focus has made us the 4th largest broking house in India(Source: Dun and Bradstreet, 2008). Over the years, SMC has expanded its operations domestically as well as internationally. Existing network includes regional offices at Mumbai, Kolkata, Chennai, Cochin, Ahmedabad, Jaipur, Hyderabad, Bangalore plus a growing network of 2100+ offices spread across 425 cities/towns in India.


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