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Monday, May 18, 2015

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Bharti Airtel receives bilateral financing commitments
Bharti Airtel has announced that it has received financing commitments of up to $ 2.5 billion from China Development Bank and Industrial and Commercial Bank of China.
The Company signed the term sheets for the financing options in the presence of Hon'ble Prime Minister of India, Shri Narendra Modi, who is currently on an official visit to China.

NTPC, DVC owe Rs9,000 crore to Coal India
Power PSU like NTPC and DVC have dues of around Rs9,000 cr. to Coal India. The power generation firms owe huge dues to Coal India as state electricity distribution companies which buys electricity from power PSUs are facing tough financial conditions and in the last one year the situation of these Discoms have not improved. Non-payment of dues by Discoms to power and coal supplier is not sustainable, it would cause a break in supply chain.

Power transmission projects, revival of ailing discoms to start soon
The government plans to offer Rs1 lakh crore of power transmission projects in next 6-8 months and has also initiated dialogues with states to revive ailing state electricity discoms .Adding long-term transmission capacity and designing customised and innovative financial model for state distribution companies will be the government's focus areas in its second year of operations.              

SC bars Glenmark Pharma from selling copy of diabetes drug
The Supreme Court has blocked Glenmark Pharmaceuticals Ltd from selling copies of U.S. drug maker Merck & Co Inc'sdiabetes drugs Januvia and Janumet. The court has, however, allowed Glenmark to continue to sell existing inventory. Merck sued Glenmark in 2013 for infringing a patent it has on sitagliptin, the chemical compound in Januvia and Janumet. Glenmark sells the medicines under the brand names Zita and Zita-met. The market size of these drugs are pegged at Rs300 crore. The development is sentimentally negative for the company.

Dr Reddy's launches drug for stroke management
Dr Reddy's Laboratories has launched a new drug Somazina in India, in-licensed from Citicoline. The drug is indicated for improving cognitive function in patients who have suffered from stroke or cerebral infraction, or who have undergone a brain surgery or have suffered from head injuries.

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