Cipla to launch oral anti-viral covid drug Molnupiravir in India
Cipla Ltd has received emergency use authorisation (EUA) permission from the Drugs Controller General of India (DCGI) to launch antiviral drug Molnupiravir. The drug is used to treat mild-to-moderate cases of Covid-19. The pharma company plans to launch Molnupiravir under the brand name Cipmolnu. Cipla will soon make Cipmolnu 200mg capsules available at all leading pharmacies and COVID treatment centers across India.
The DCGI has also given EUA to Dr. Reddy’s Labs, Natco Pharma, Aurobindo Pharma, and Sun Pharma to manufacture Molnupiravir.
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Bank of Maharashtra enters into co-lending partnership with MAS Financial Services for MSME loans
Bank of Maharashtra (BoM) has entered into a strategic co-lending partnership with MAS Financial Services to offer loans to micro, small and medium enterprise (MSME) borrowers. Under this partnership, MAS Financial Services will originate and process loans to MSME borrowers under priority sector as per jointly formulated credit parameters and eligibility criteria. BoM will take these loans on its books under mutually agreed terms.
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Granules gets USFDA approval for Prazosin Hydrochloride capsules
Granules India Ltd has received approval from the US Food & Drug Administration (USFDA) for its generic Prazosin Hydrochloride capsules. The drug is indicated in the treatment of high blood pressure. As per IQVIA data, the current annual US market for Prazosin Hydrochloride is approximately $54 million (~Rs 403.14 crore).
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ITC commissions solar plant in Tamil Nadu at an investment of Rs 76 crore
ITC Limited has commissioned its first offsite solar plant in Dindigul, Tamil Nadu, at an investment of Rs 76 crore. The 14.9 MW solar plant will help reduce CO2 emissions over the course of its lifetime. As part of its sustainability agenda, ITC plans to achieve 50% reduction in specific emissions and 30% reduction in specific energy consumption by 2030 over a 2014-15 baseline.
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Ajanta Pharma board approves up to Rs 286 crore share buyback plan
Ajanta Pharma Ltd’s board has approved buyback of up to 11,20,000 fully paid-up shares (of the face value of Rs 2 each) at Rs 2,550 per share. The total pay-out towards buyback of shares will not exceed Rs 356 crore, including a share buyback consideration not exceeding Rs 286 crore and tax not exceeding Rs 70 crore. The record date for the share buyback has been fixed as January 14, 2022.
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Vakrangee to set up Kendra outlets across the network of Nayara Energy
Vakrangee Ltd (VL) has partnered with Nayara Energy Ltd for setting up Vakrangee Kendra outlets at its Nayara retail fuel outlets. Nayara Energy is a privately-held downstream oil company based in Mumbai that encompasses refining, marketing, production, and a network of over 6,000 retail fuel outlets in India. Citizens will be able to visit their nearest Vakrangee Kendra and enjoy a comprehensive range of products and services across banking, ATM, insurance, and financial services.
SEBI extends anchor investors’ lock-in period to 90 days for 50% portion
The Securities and Exchange Board of India’s (SEBI) board took a slew of decisions on Tuesday, including the extension of the lock-in period for anchor investors to 90 days. The decision comes at a time when shares of Zomato and One97 Communications (Paytm) had slipped 9% and 13%, respectively, when the mandatory one-month lock-in period for their anchor investors ended. SEBI ālso cleared changes to regulations on the issue of capital and disclosure requirements and also tightened rules for IPO proceed utilisation.
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IndiGo announces 5-day special domestic sale; offers flight tickets from Rs 1,122
InterGlobe Aviation Ltd (IndiGo) has announced a five-day special domestic sale across 150 domestic flights on its network, with fares starting at Rs 1,122. The offer will be available from December 27-31, 2021, and can be availed on travel between January 15 and April 15, 2022. Passengers can also avail of one free change under this offer if changed more than three days prior to departure.
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