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Tuesday, May 19, 2015

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Glenmark gets tentative USFDA approval for epilepsy drug
Glenmark Pharma Arm Glenmark Generics has received US FDA’s tentative approval  for epilepsy drug Rufinamide. The market size of the drug is not immediately known.Recently, Eisai Inc have entered into a settlement agreement with Glenmark Pharmaceuticals, which allowed Glenmark to launch generic version of this drug after May 2022 or earlier in certain circumstances.

Techno Electric sells wind assets worth Rs215 cr
Power generation was not the core business of the company and accordingly it had decided to focus on transmission and distribution (power). Techno Electric had invested Rs350 crore in 2008-09 and another Rs650 crore in 2011-12 towards creation of these wind assets.

Tata Motors to launch next generation Nano
Tata Motors to launch the next generation Nano. The vehicle is expected to be priced between Rs2.25 lakh and Rs2.99 lakh and will have and AMT (automatic manual transmission) as an option in addition to an open able boot space.

SpiceJet in talks raise funds worth Rs900 crore
SpiceJet is planning to raise $150 million (over Rs900 crore) in debt or equity and is in discussions with private equity firms and banks for the same. The funds will be used as working capital and to repay dues, the airline said. SpiceJet underwent a change in ownership in January with founder-promoter Ajay Singh stepping in as chairman. It then received a Rs 400 crore infusion and is undergoing fleet expansion after a difficult winter season, which saw grounding of aircraft, curtailment of schedule and cancellation of flights.

Crompton wins turnkey project in Germany
Crompton Greaves has won order for turnkey supply an installations of HV offshore substation for the 400 MW at Veja Mate offshore project in Germany. The value of the order is not being disclosed yet.

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