Sun Pharmaceutical Industries announced that it has entered into an exclusive worldwide licensing agreement with the US-based Merck & Co (known as MSD outside the US and Canada) for the latter's investigational therapeutic antibody candidate tildrakizumab, used for treating chronic plaque psoriasis, a skin ailment. The drug is currently in the Phase 3 registration trials.
Under terms of the agreement, Sun Pharma will acquire worldwide rights to tildrakizumab for use in all human indications from Merck in exchange for an upfront payment of $80 million. Merck will continue all clinical development and regulatory activities, which will be funded by Sun Pharma. Upon product approval, Sun Pharma will be responsible for regulatory activities, including subsequent submissions, pharmacovigilance, post approval studies, manufacturing and commercialization of the approved product. Merck is eligible to receive undisclosed payments associated with regulatory (including product approval) and sales milestones, as well as tiered royalties ranging from mid-single digit through teen percentage rates on sales.
Ranbaxy Laboratories after market hours on Wednesday, 17 September 2014, said that the company has received a Civil Investigative Demand (CID) from the United States Department of Justice relating to the manner in which it reports pricing data for certain products eligible for reimbursement under the Medicaid program. The CID is a request for documents and information, and is not an allegation of wrongdoing or demand for compensation. The company would fully cooperate with this civil investigation, Ranbaxy Laboratories said.
Apollo Tyres confirmed Hungary as the location for its first Greenfield facility outside India. The company chose Hungary after a consideration of various factors over some of the neighbouring Central Eastern European and Asian countries. Apollo Tyres will invest 475 million euros over the next 4 to 5 years to setup this facility in the new industrial zone near Gyongyoshalasz, Hungary. Once completed, the plant will have a capacity to produce 5.5 million passenger car & light truck (PCLT) tyres and 675,000 heavy commercial vehicle (HCV) tyres per annum. This facility will produce both, Apollo and Vredestein branded tyres, and will cater to the entire European market, and will complement Apollo Tyres' existing facility in the Netherlands.
Piramal Enterprises will be watched. In clarification to reports indicating that Piramal leads race for three Ramky highway projects, Piramal Enterprises at fag end of the trading session on Wednesday, 17 September 2014 said that the company from time to time explores various investment opportunities as part of its structured investment business, in the normal course of its business.
Emami Paper Mills said that the preference share committee of the company at its meeting held Wednesday, 17 September 2014, has considered issue of 11.25 lakh 8% Cumulative Redeemable Non-Convertible preference shares of Rs 100 each at a premium of Rs 300 aggregating to Rs 45 crore to the promoters on preferential basis and allotted the preference shares to the promoters on preferential basis.
Liberty Shoes said that CARE, a leading credit rating agency through their latest credit rating communication, has assigned CARE "A-" (pronounced as CARE Single A Minus) rating to the company in respect of banking facilities for the financial year 2015.
More From This Section
BGR Energy Systems turns ex-dividend today, 18 September 2014, for a dividend of Rs 3 per share for the year ended March 2014.
Cummins India turns ex-dividend today, 18 September 2014, for an interim dividend of Rs 5 per share for the year ending 31 March 2015.
Essar Ports turns ex-dividend today, 18 September 2014, for dividend of Rs 0.50 per share for the year ended 31 March 2014.
Reliance Infrastructure turns ex-dividend today, 18 September 2014, for dividend of Rs 7.50 per share for the year ended 31 March 2014.
Reliance Capital turns ex-dividend today, 18 September 2014, for dividend of Rs 8.50 per share for the year ended 31 March 2014.
Idea Cellular turns ex-dividend today, 18 September 2014, for final dividend of Rs 0.40 per share for the year ended 31 March 2014.
Powered by Capital Market - Live News