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Tuesday, July 28, 2015

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Tata Motors working on a new platform for SCVs
Tata Motors is working on a new platform for small commercial vehicles (SCVs) which will replace the Ace platform. The ACE platform is 10 years old and hence the company is developing a new product to address the change in customer requirements.

Siemens bags order worth Rs67 crore from L&T
Siemens has bagged an order worth Rs67 crore for supply of high voltage gas insulated switchgear from Larsen & Toubro – Positive for Siemens.

Ambuja Cement lower realization, muted demand dent Q2 earnings
The net sales declined by 7.9% on YoY basis to Rs2493 crore. The decline in the revenue is on account of decrease in the realization by 9% YoY to Rs4239 per tone. However, volume for the quarter rose by 1.6% to 5.88 million tonnes. In addition to the lower realization, the cost pressure has also continue to remain higher which resulted in to contraction in the operating profit margin. Consequently the operating profit has declined by 36.2% YoY to Rs366 crore.

Glenmark Pharma's Finacea generic infringes Bayer patent
The federal court said Glenmark's proposed gel would be absorbed into the skin in a similar way to Finacea, violating Bayer's patent. Germany's Bayer had sued Glenmark in 2013 after Glenmark filed an application to market a copycat version of the USD 95 million drug in the United States.
Aurobindo receives final approvals for Esmolol Hydrochloride Injection
Aurobindo Pharma has received final approvals from the US Food & Drug Administration ( USFDA) to manufacture and market Esmolol Hydrochloride Injection, 100mg/10mL.
Aurobindo now has 13 ANDAs (represented by 10 product classes) approved out of Unit IV formulation facility in Hyderabad, India for manufacturing general injectable products. Positive for the company.

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