Aurobindo Pharma announced that the company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Levetiracetam in Sodium Chloride Injection, 500 mg/100 mL (5 mg/mL), 1000 mg/100 mL (10 mg/mL), and 1500 mg/100 mL (15 mg/mL) (single-use bags). Aurobindo's Levetiracetam in Sodium Chloride Injection is a generic equivalent of HQ Specialty Pharma Corp's Levetiracetam in Sodium Chloride Injection. The product will be launched in January 2017. The announcement was made on Saturday, 7 January 2017.
Levetiracetam in Sodium Chloride Injection is a CNS drug and indicated for partial onset seizures in adults (16 years and older) with epilepsy; myoclonic seizures in adults with juvenile myoclonic epilepsy; primary generalized tonic-clonic seizures in adults with idiopathic generalized epilepsy. The approved product has an estimated market size of $32 million for the twelve months ended November 2016, according to IMS.
Separately, Aurobindo Pharma's wholly owned step-down subsidiary Agile Pharma B.V., Netherlands announced entering into a binding agreement to acquire 100% shareholding in Generis Farmaceutica S.A for 135 million euro from Magnum Capital Partners. Generis is engaged in manufacture and sale of pharmaceutical products in Portugal.
BEML said that the Government of India, Ministry of Defence, has communicated 'in-principal' approval of the Cabinet Committee on Economic Affairs (CCEA) of the Government of India, for strategic disinvestment of 26% equity shares in BEML out of Government of India shareholding of 54.03%. The shareholding would be sold to the strategic buyer/s to be identified by the Government of India by following due procedure. The announcement was made after market hours on Friday, 6 January 2017.
Indian Overseas Bank announced fixation of the marginal cost of funds based lending rate for all rupee loans and advances including renewals for various tenors with effect from 7 January 2017. The MCLR for overnight loans was fixed at 8.45%. The rate for one month was fixed at 8.5% and for three months it was fixed at 8.55%. The MCLR on 6-month loans is 8.6% and for one-year loans the rate is 8.65%, the bank said. The MCLR for two-year loans was fixed at 8.75% and the MCLR for three-year loans was fixed at 8.85%, it added. The announcement was made after market hours on Friday, 6 January 2017.
Vijaya Bank announced fixation of the marginal cost of funds based lending rate for all rupee loans and advances including renewals for various tenors with effect from 10 January 2017. The MCLR for overnight loans was fixed at 8.45%. The rate for one month was fixed at 8.5% and for three months it was fixed at 8.55%. The MCLR on 6-month loans is 8.6% and for one-year loans the rate is 8.65%, the bank said. The MCLR for two-year loans was fixed at 8.65% and the MCLR for three-year loans was fixed at 8.75%, it added. The announcement was made on Saturday, 7 January 2017.
JSW Energy said that the company has secured an order from Power Company of Karnataka (PCKL) for supply of 650 megawatts (MW) upto 31 May 2017 for short term sale of power. The announcement was made after market hours on Friday, 6 January 2017.
Rashtriya Chemicals and Fertilizers (RCF) said that in terms of the guidelines issued by the Reserve Bank of India (RBI), the company has issued Commercial Paper for Rs 75 crore on 6 January 2017, in favour of HDFC Bank, having maturity date as 30 March 2017. The announcement was made after market hours on Friday, 6 January 2017.
Apcotex Industries said that the workmen union at the company's Taloja Plant has given notice of strike effective 9 January 2017. The management is making all efforts to settle the issue amicably. The management has also made all the necessary arrangements to try and ensure that the production activities are not hampered in any way and will try and ensure to maintain normal level of operations during this period. The announcement was made after market hours on Friday, 6 January 2017.
Mirc Electronics said that preferential issue committee of the company has allotted 1.55 crore equity shares Rs 14.66 per share to BENNETT COLEMAN & CO., being person other than promoter and /or promoter group on preferential basis on 6 January 2017. The announcement was made after market hours on Friday, 6 January 2017.
S H Kelkar and Company said that the company's subsidiary, Keva Flavours (KFL), has acquired business undertaking of Gujarat Flavours Private (GFPL) comprising of flavours division on 2 January 2017 in accordance with the business transfer agreement executed between KFL and GFPL on 26 October 2016. The announcement was made after market hours on Friday, 6 January 2017.
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