Tata Motors announced after market hours yesterday, 9 December 2015 that Tata Motors group global wholesales including Jaguar Land Rover rose 8% at 90,695 units in November 2015 over November 2014. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in fell 4% to 29,066 units in November 2015 over November 2014. Global wholesales of all passenger vehicles in rose 15% at 61,629 units in November 2015 over November 2014.
Sun Pharmaceutical Industries (Sun Pharma) announced that it has entered into a tripartite research and option agreement with Israel-based Weizmann Institute of Science and Spain's Health Research Institute of Santiago de Compostela (IDIS) to develop breakthrough products for the treatment of neurological diseases like brain stroke, as well as glioblastoma, a lethal brain cancer. The announcement was made before market hours today, 10 December 2015. Scientists at Weizmann Institute have developed a recombinant enzyme currently undergoing animal studies for indications of brain stroke and glioblastoma. Further studies of this enzyme will be conducted at IDIS. Moreover, this enzyme may potentially be indicated for uses beyond these two brain diseases, Sun Pharma said. As per the signed triparty agreement, Sun Pharma will have the right to develop these additional indications. Sun Pharma will have the exclusive option to conduct further development of the enzyme after completion of the preclinical studies. The company will have commercial rights to this product globally, the company said.
Infosys announced that it has made an investment in CloudEndure, a startup that provides cloud migration and cloud-based disaster recovery (DR) software. The announcement was made after market hours yesterday, 9 December 2015.
Wipro announced that Wipro Digital, its digital business unit, has opened a new office in London to offer enhanced digital transformation services at close proximity to its UK and European customers. Wipro Digital also intends to continue its hiring in the UK to support business growth and expand its range of offerings. The company made the announcement after market hours yesterday, 9 December 2015.
Asian Paints announced that as part of the company's plan to consolidate its investments in the overseas subsidiaries, Asian Paints (International) (APIL), Mauritius, a wholly owned subsidiary of the company has transferred its entire holding of 60% held in the subsidiary company, Asian Paints (Vanuatu) to Berger International, Singapore, a wholly owned subsidiary of APIL. The company made the announcement after market hours yesterday, 9 December 2015.
NeoBiocon, a collaboration between Biocon and Dr. B.R. Shetty, Chairman of the UAE-based Neopharma, announced yesterday, 9 December 2015 that it has partnered with Novartis Middle East FZE, to market Jalra (Vildagliptin) and Jalra-M (Vildagliptin + Metformin) in UAE. The announcement was made after market hours yesterday, 9 December 2015. This partnership will help NeoBiocon expand its product offerings in the metabolics segment and will immensely benefit diabetics in UAE. NeoBiocon has received approvals from the Ministry of Health-UAE for marketing Jalra and Jalra-M in the country and the launch is scheduled for January 2016. These products will be manufactured by Novartis in Europe and marketed and distributed by NeoBiocon in UAE after local release through Neopharma.
Aurobindo Pharma announced that the company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Eptifibatide Injection USP, 20 mg/10 mL, 75 mg/100 mL, and 200 mg/100 mL single-use vials. The company made the announcement after market hours yesterday, 9 December 2015. This product is expected to be launched in this month.
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The approved Abbreviated New Drug Application (ANDA) is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Integrilin Injection, 20 mg/10 mL, 75 mg/100 mL, and 200 mg/100 mL of Schering Corporation. Eptifibatide Injection is used in the treatment of acute coronary syndrome. The approved product has an estimated market size of $137 million in the US for the twelve months ended October 2015 according to IMS.
Separately, Aurobindo Pharma made the announcement after market hours yesterday, 9 December 2015, that it has received final approval from the USFDA to manufacture and market Levonorgestrel Tablet, 1.5 mg. The approved ANDA is bioequivalent and therapeutically equivalent to the reference listed drug product (RLD) Plan B One-Step Tablet of Teva Branded Pharmaceutical Products R&D, Inc. Levonorgestrel Tablet is an oral contraceptive used for prevention of pregnancy. The approved product has an estimated market size of $64 million in the US for the twelve months ended October 2015 according to IMS.
KEI Industries said that the board of directors of the company at its meeting held on 9 December 2015, has considered and approved setting up a wholly owned subsidiary (WOS) of the company in Australia. The purpose of setting up of the subsidiary is to bid cable supply tenders and turnkey cable projects/contracts and other business opportunities as determined by the company from time to time. The company will now proceed to take necessary steps as required under the applicable laws for setting up wholly owned subsidiary (WOS) company in Australia. The announcement was made after market hours yesterday, 9 December 2015.
V-Guard Industries announced that in order to meet the growing demand of stabilizers in non-south markets, the company has set up a manufacturing unit of voltage stabilizers in Sikkim. The company made the announcement after market hours yesterday, 9 December 2015. The unit is eligible for benefits under North East Industrial & Investment Promotion Policy (NEIIPP), 2007 which also covers the state of Sikkim.
V-Guard is also exploring inorganic expansion opportunities in companies, with product range having synergy with V-Guard, and manufacturing capabilities. A consultant has been appointed to assist the company in identifying and evaluating potential opportunities.
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