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Thursday, November 27, 2014

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U.S. court refuses Ranbaxy’s appeal
U.S. court refuses Ranbaxy appeal to block ANDA nod for 2 drugs, negative Drug firm Ranbaxy Laboratories today said the DC Federal Court in the U.S. has not granted the company temporary restraining order to block the U.S. health regulator from approving other ANDAs for generic versions of digestive disorder medicine Nexium and anti-viral Valcyte. The Court has not granted temporary restraining order to block FDA approval for other Abbreviated New Drug Applications (ANDAs) for generic version of Nexium and Valganciclovir, Ranbaxy Laboratories had sued USFDA over revoking an approval to sell generic versions of Nexium and Valcyte in the US market.

Dr Reddy's gets USFDA observations for API plant
Dr Reddy's gets USFDA observations for its API plant in Srikakulam; sentimentally negative Reddy's Laboratories has received inspectional observations from the US Food and Drug Administration (FDA) for one of its active pharmaceutical ingredients (APIs) manufacturing plants located in Srikakulam district of Andhra Pradesh. The observations came after a team of the US FDA visited the site recently. According to the company, these observations are largely related to procedural and other compliances of the plant systems and would not impact the normal activity of the plant in any way.

Bajaj Auto raises retail prices in Nigeria by 4-5%
Bajaj Auto has raised retail prices for motorcycles and three wheelers in Nigeria by 4-5%. The price increase is in response to the country’s decision to devalue its currency by 8.4% and is on expected lines. We continue to maintain a Hold recommendation on the stock with a target price of Rs2,625.

Bharti Airtel launches 4G service in Africa: Report
The company said the network is expected to cover 10,000 LTE subscribers in the first phase. Bharti Airtel launches 4G service under the first commercial LTE network in Seychelles, Africa The company said the network is expected to cover 10,000 LTE subscribers in the first phase. We already have Africa's widest 3G footprint, being present in 17 countries. We are delighted to now provide leadership in setting the technology standard for 4G services in Africa by rolling out this cutting edge LTE network," Airtel Africa CEO Christian de Faria reportedly said.

India Cements slips after SC order
The stock so far has tumbled over 5 per cent from the day's high India Cements has erased all its earlier gains and fell sharply in the noon deals after the Supreme Court, hearing the IPL spot fixing case, said Chennai Super Kings must be disqualified 'without further enquiry'. The Supreme Court also asked its managing director and suspended BCCI chief N Srinivasan to furnish details of the company's shareholding pattern and the composition of its Board members. Soon, the stock has tumbled 5.7 per cent from day's high to touch a low at Rs. 92.65. Now, the stock is down 1.7 per cent at Rs. 93.65.

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