Steel Strips Wheels confirms export orders of nearly 9,000 wheels for EU Trailer Market to be executed in the month of October & November from its Chennai plant.
Total value of the order is around US$ 229K.
LTTS to set up a HUB Development Center for shared Engineering Services
L&T Technology Services Limited today announced that it has been selected to provide engineering services for Tenneco’s DRiV original equipment (OE) Ride Control business group.
LTTS will set-up a HUB Development Center to provide DRiV with additional engineering capacity in conventional damper and component development. The HUB Development Center will also provide a hybrid, unified engineering business model for supporting established domains such as mechanical, product lifecycle management (PLM) and digital engineering. LTTS will also work with DRiV to modernize and upgrade engineering tools and create a global benchmarking framework for product lifecycle analysis.
JSW Solar Limited, a 100% subsidiary of JSW Energy Limited has received Letter of Awards for total Blended Wind capacity of 810 MW from Solar Energy Corporation Limited (SECI) against Tariff based Competitive Bid invited by SECI for setting up of 2500 MW ISTS-connected Blended Wind Power Projects (Tranche - IX).
Zydus Cadila has received final approval from the USFDA to market Dimethyl Fumarate Delayed Release Capsules, (US RLD: Tecfidera®) in the strengths of 120 mg and 240 mg. In its approval, the USFDA noted that Zydus was one of the first ANDA applicants to submit a substantially complete ANDA and is therefore eligible for 180 days of generic drug exclusivity along with other first ANDA applicants.
The USFDA granted approval following entry of judgment in favor of Zydus Cadila and other ANDA applicants by the United States District Court for the District of Delaware, holding that the only unexpired patent covering Tecfidera® is invalid.
Dimethyl Fumarate Delayed-Release Capsules are indicated for the treatment of patients with relapsing forms of multiple sclerosis and will be manufactured at the group’s manufacturing facility at the SEZ, Matoda.
The group now has 303 approvals and has so far filed over 390 ANDAs since the commencement of the filing process in FY 2003-04.
Meera Industries Limited (MIL) today announced that it has received an export Order of USD $140K from KEVSER HALTI TEKS. VE SAN. TIC. LTD.STI, a reputed company from Gaziantep, Turkey for manufacturing of woven, tufted, and other Carpet and Rugs.
Gaziantep , Turkey is known to be the biggest market of carpet yarn cabling and twisting machines. MEERA is successfully making inroads into this market with its upgraded version of twisting machines.
Cipla Limited today announced that it has received final approval for its Abbreviated New Drug Application (ANDA) for Dimethyl Fumarate DR Capsules 120mg, 240mg and 120mg/240mg Starter Pak from the United States Food and Drug Administration (US FDA).
Cipla’s Dimethyl Fumarate DR Caps 120mg, 240mg and 120mg/240mg Starter Pak is AB-rated generic therapeutic equivalent version of Biogen IDEC Inc.’s Tecfidera®. It is indicated for the treatment of relapsing forms of multiple sclerosis (MS), to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, in adults.
According to IQVIA (IMS Health), Tecfidera® had US sales of approximately $3.8 Billion for the 12-month period ending July 2020.
The product is available for shipping immediately. Cipla will providing Co-Pay Assistance.
- GMR Group to divest its entire 51% stake in Kakinada SEZ Limited
- Proceeds will be used majorly to reduce indebtedness of the Group
GMR Infrastructure Limited today announced signing of definitive agreements for the sale of equity owned by its wholly owned subsidiary GMR SEZ and Port Holding Limited of its entire 51% stake in Kakinada SEZ Limited to Aurobindo Realty and Infrastructure Private Limited. As part of the proposed transfer of stake of KSEZ, the 100% equity stake of Kakinada Gateway Port Limited held by KSEZ would also be transferred to Aurobindo Realty.
Total consideration for the sale of equity stake as well as the sub-debt in KSEZ is Rs.2610 crores. Out of the total consideration, Rs.1600 crores would be received on the closing date and balance 1010 crore would be received in next 2 to 3 years which is contingent upon certain agreed milestones.
KSEZ is engaged in the business of implementation of a port based multi-product special economic zone project at Kakinada, East Godavari District, Andhra Pradesh and KGPL has the Concession granted by the Govt. of Andhra Pradesh to set up a greenfield commercial port in Kona Village of the East Godavari Dist., of Andhra Pradesh.
The sale transaction shall be subject to receipt of Regulatory and other Statutory Approvals
Tata Elxsi is the Global engineering services partner for Schaeffler, and the GEC is part of a strategic multi-year engineering services engagement
Tata Elxsi, a global design and technology services company, announced the opening of a Global Engineering Center (GEC) with Schaeffler Technologies AG & Co. KG, a world leader in providing mechatronics solutions for the Transportation industry.
Tata Elxsi has been selected as the Global engineering services partner by Schaeffler, and the GEC is part of a strategic multi-year engineering services engagement. The GEC center in Pune will focus on Mechatronics, Digital & embedded technologies with the highest level of talent in line with Schaeffler’s vision for driving “Mobility for Tomorrow”. This center will be pivotal to help accelerate innovation and drive digital transformation and growth for Schaeffler’s mechatronics business.
Launches 25 new models of Direct Cool, Frost Free and Side by Side Refrigerators; Plans to launch additional 25 models of refrigerators and a new range of dishwashers by Diwali 2020
Havells India Limited today announced its entry into the refrigerator segment under its consumer durable brand ‐ Lloyd. The company will also double the range with additional 25 models by Diwali this year. The refrigerator range is designed keeping in mind the modern kitchen aesthetics combined with energy saving features that adapt to the consumer lifestyle. The alluring transparent interiors of the range comes with an array of attractive fresh floral fascia design, which reflects refrigerators as a work of art that blends with your home décor.
The refrigerators will be available in capacities ranging from 190 litres to 587 litres, and at an introductory offer price range from INR 10,000 to INR 84,990.
Zydus Cadila has received tentative approval from the USFDA to market Palbociclib Capsules, (US RLD: Ibrance Capsules) in the strengths of 75 mg, 100 mg, and 125 mg.
Palbociclib is an anti-cancer medicine that interferes with the growth and spread of cancer cells in the body. It is used in adults to treat hormone receptor (HR)-positive, human epidermal growth factor receptor 2 (HER2)-negative breast cancer that has spread to other parts of the body (metastatic) in combination with an aromatase inhibitor as the first hormonal based therapy in postmenopausal women or in men, or fulvestrant with disease progression following hormonal therapy.
The drug will be manufactured at the group’s formulation manufacturing facility at the SEZ, Ahmedabad.
Baring Private Equity Asia through its affiliated entities HT Global Holdings B.V. and HT Global IT Solutions Holdings Limited has agreed to take Hexaware Technologies Limited (“Hexaware”) private through an ongoing delisting process.
Under the transaction, the Acquirer will purchase an approximate 29% stake from public shareholders, increasing the combined ownership of BPEA controlled entities to approximately 91%
KKR’S SECOND INVESTMENT WITH RELIANCE INDUSTRIES
Reliance Industries Limited and Reliance Retail Ventures Limited announced today that global investment firm KKR will invest ₹ 5,550 crore into RRVL, a subsidiary of Reliance Industries. This investment values Reliance Retail at a pre-money equity value of ₹ 4.21 lakh crore. KKR’s investment will translate into a 1.28% equity stake in RRVL on a fully diluted basis.
This marks the second investment by KKR in a subsidiary of Reliance Industries, following a ₹ 11,367 crore investment in Jio Platforms announced earlier this year.
Sun Pharmaceutical Industries Limited today announced that its wholly-owned Japanese subsidiary has launched ILUMYA® Subcutaneous Injection 100 mg Syringe (Nonproprietary name: tildrakizumab (genetical recombination), “ILUMYA”) in Japan for the treatment of plaque psoriasis in adult patients who have an inadequate response to conventional therapies.
ILUMYA is a humanized lgG1/k monoclonal antibody designed to selectively bind to the p19 subunit of IL23 and inhibit its interaction with the IL-23 receptor, leading to inhibition of the release of proinflammatory cytokines and chemokines.
Tata Consultancy Services’ Machine First™ Delivery Model to Help Morrisons Drive Enterprise Agility, Enhanced Customer Experience and Growth
Tata Consultancy Services (TCS) has expanded its partnership with Morrisons, a leading supermarket chain in the UK, through a five-year contract for application management services, data services and cyber security services. The partnership will help accelerate the latter’s plan to simplify and modernize its technology to improve the shopping trip, eliminate wasted effort and become more popular and accessible to its customers.
Morrisons selected TCS as its Application – Managed Services partner in 2016, to improve the customer and employee experience. Since then, TCS has worked closely with the retailer to help drive its growth and modernization agenda across various lines of business, leveraging its comprehensive portfolio of business and technology services and solutions.
As part of the expanded partnership, TCS will harness the power of AI and machine learning to augment human teams, improving operational resilience and boosting productivity. Additionally, adoption of automation and DevOps will increase the speed to market of innovative features that enhance customer experience and provide competitive differentiation.
Strides Pharma Science Limited (Strides) today announced that its step-down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has received approval for Butalbital, Acetaminophen, and Caffeine Tablets USP, 50 mg/325 mg/40 mg from the United States Food & Drug Administration (USFDA). The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), Butalbital, Acetaminophen, and Caffeine Tablets USP, 50 mg/325 mg/40 mg, of Actavis Laboratories FL, Inc.
According to IQVIA MAT July 2020 data, the US market for Butalbital, Acetaminophen, and Caffeine Tablets USP, 50 mg/325 mg/40 mg is approximately US$ 40 Mn. The product will be marketed by Strides Pharma Inc. in the US market.
The company has 126 cumulative ANDA filings with USFDA of which 91 ANDAs have been approved and 35 are pending approval.
Sun Pharma Advanced Research Company Ltd. (SPARC) today announced the grant of an exclusive license to Tripoint Therapeutics LLC, USA (Tripoint) to commercialize ElepsiaTM XR 1000 mg and ElepsiaTM XR 1500 mg tablets in the USA.
Under terms of the license agreement, SPARC will be eligible to receive tiered royalties ranging from 15% to 50% on net sales. Tripoint will be responsible for all US regulatory submissions and payment of annual PDUFA fees for ElepsiaTM XR 1000 mg and ElepsiaTM XR 1500 mg.
The initial term of the agreement shall be 5 years and may be further extended as per mutual agreement between the parties.
The Sellers, Pfaudler Inc., Millars Machinary Company Private Limited and Urmi Patel propose to sell 40.93 lakh equity shares representing 28% of the total paid up equity share capital and aggregating to a value INR 1,432.58 crores.
Full read: GMM Pfaudler promoters to sell equity shares.pdf (855.94 kb)