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Wednesday, April 8, 2015

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Aurobindo pharma alleges fraud by Plethico Pharma
Aurobindo pharma alleges fraud by Plethico Pharma while selling US-based Natrol Inc to Aurobindo’s US arm  last year – Negative for both Aurobindo and Plethico Pharma.

Axis Bank cuts base rate by 20 basis points
Axis Bank follows its peers, cuts base rate by 20 basis points to 9.95% - Neutral for the stock.

Indian Oil Corporation to set petrochemical plants
Indian Oil Corporation, the country's largest refiner and fuel retailer, is set to spend about Rs45,000 crore over three years to build petrochemicals plants and LNG terminal, lay pipelines and upgrade its refineries.
The company plans to spend about Rs15,000 crore in 2015-16 and a similar amount in each of the two succeeding financial year.

Glenmark gets USFDA nod for osteoporosis drugs
It has received the final approval from the United States Food and Drug Administration ( USFDA) for sale of drugs meant to prevent post-menopause osteoporosis.
The approved formulations are generic versions of Warner Chilcott's FemHRT, which clocked sales of $39 mn for year ended Feb 2015.

Dr Reddy files three new drug applications with USFDA
Dr Reddy's Laboratories has filed three new drug applications (NDAs), aimed to be used in the treatments of psoriasis, rosacea, migraine, with the US health regulator. Dr Reddy’s subsidiary, Promius Pharma LLC have filed three new drug applications with the US Food and Drug Administration ( USFDA).

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