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Wednesday, April 15, 2015

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Kotak Mahindra Bank revises base rate
Kotak Mahindra Bank has reduced its base rate to 9.85% per annum from current level of 10% per annum with effect from April 16, 2015.
All categories of loan (other than the exceptions permitted by the Reserve Bank of India) will be priced with reference to the revised base rate.

Torrent Pharma gets USFDA’s tentative approvals for Crestor
Torrent Pharma has got USFDA’s tentative approvals for rosuvastatin calcium (generic version of Crestor), which is used to control cholesterol. Crestor generates an annual sales of US$ US$5bn and it is going to lose patent protection in February 2021. Most of the top generic players  (including Torrent Pharma) are under litigation with the innovator AstraZeneca, while challenging patent of Crestor. Torrent Pharma may be able to launch this product either on patent expiry or on court invalidating the patent.

Strides Arcolab gets USFDA’s approvals for laxative drugs
Strides Arcolab has got USFDA’s approval for Polyethylene Glycol 3350, Sodium Bicarbonate and Potassium Chloride for oral solutions. The drug is used for bowl cleansing prior to colonoscopy. The market size of the drug is US$20mn.

Bajaj launches two new Pulsar variants
Bajaj Auto has launched two new models of Pulsar under the new adventure series i.e. AS150 and AS200. Both the models  have fairing. The AS200 has been priced at Rs91,500 (ex-showroom Delhi) while the smaller sibling AS150 has been priced at Rs79,000.

Havells gears up for smart city projects- Positive
Havells India plans to capitalise on government's smart city projects by developing new technology-driven lighting products and home appliances. Its CMD Anil Rai Gupta said that the company was working on partnerships to procure software and network support from global firms for smart city projects.

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