India’s fourth Omicron case detected near Mumbai
A 33-year-old man from Maharashtra who travelled to Mumbai from South Africa late last month has tested positive for the Omicron variant of the coronavirus. It is the fourth such case confirmed in India. Cases of the Omicron variant have already been detected in Karnataka and Gujarat. The Omicron strain has been marked as a “variant of concern” by the World Health Organization (WHO).
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Lupin signs distribution agreement for Pegfilgrastim with Brazil-based Biomm
Lupin Ltd has entered into an exclusive distribution and marketing agreement with Biomm SA in Brazil. Under the terms of the agreement, Biomm will distribute and market biosimilar Pegfilgrastim in Brazil. The drug is indicated to reduce the duration of neutropenia (an abnormally low count of a type of white blood cell) and the incidence of febrile neutropenia in patients receiving chemotherapy.
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Future beyond 2025 belongs to only electric two and three-wheelers: Niti Aayog’s Amitabh Kant
The business model for combustion vehicles will not work beyond 2025 as young people will not buy such vehicles, Niti Aayog CEO Amitabh Kant. At a time when India has set the target to become net-zero by 2070, Kant said that there is no future for companies that do not go green. According to him, the period beyond 2025 belongs to only electric two and three-wheelers. He termed renewables, battery storage, clean mobility, electrolysers, and green hydrogen as sunrise sectors, which will grow at a fast pace.
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Public shareholders of HG Industries decline to tender shares in the open offer by Greenlam Industries
The public shareholders of HG Industries Ltd (HGIL) have declined to tender shares in an open offer by Greenlam Industries Ltd. Greenlam has acquired 34.70 lakh equity shares representing 74.9% of the total paid-up equity share capital of HGIL at Rs 40.10 per equity share. Further, an open offer was made for the acquisition of the entire public shareholding of HGIL up to 11.62 lakh equity shares (representing 25.06% share capital) at Rs 41 per share. However, none of the public shareholders have tendered equity shares in the open offer.
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Eris Lifesciences enters India’s insulin market
Eris Lifesciences Ltd has announced its entry into India’s Rs 35-40 billion insulin and GLP1 agonists market through Eris MJ Biopharm Ltd. The company expects significant growth in these segments, considering that diabetes is a progressive disease and insulin/GLP1 therapy is the proven gold standard in diabetes management in the developed markets. Eris MJ Biopharm is a special purpose joint venture (JV) between Eris and Mumbai-based MJ Biopharm Pvt Ltd.
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Four IPOs to hit the markets next week
RateGain Travel Technologies, Shriram Properties, CE Info Systems (MapmyIndia), and Metro Brands will launch their initial public offerings (IPOs) between December 7th and 10th. RateGain Travel Technologies is the largest Software as a Service (SaaS) company in the hospitality and travel industry in India. It has fixed a price band for its Rs 1,336 crore IPO at Rs 405-425 per share.
South India-based residential real estate development company Shriram Properties is set to launch its Rs 600 crore-IPO on December 8 at a price band of Rs 113-118 per share.
CE Info Systems, popularly known for its brand MapmyIndia, will launch its initial public offer on December 9.
Rakesh Jhunjhunwala-backed Metro Brands will launch its maiden public offer for subscription on December 10. It is one of the largest Indian footwear speciality retailers that operates stores under the Metro, Mochi, Walkway, and Crocs brands.
Viacom18 picks up NBA media rights for three years
The National Basketball Association (NBA) and private broadcasting group Viacom18 have entered into a multi-year partnership to live-broadcast NBA games and programming across television and over-the-top streaming. Under the agreement, Viacom18 will distribute live NBA games in English and Hindi on its channels like Vh1, MTV, Voot, and Jio TV for three years. The deal with Viacom18 will kick-start with the NBA’s 75th Anniversary Season in 2021-22.
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IGL hikes retail CNG prices in Delhi, Haryana, and Rajasthan
Indraprastha Gas Ltd (IGL) has hiked compressed natural gas (CNG) prices in Delhi, Haryana, and Rajasthan, effective 6 AM on December 4. CNG in the National Capital Territory (NCT) of Delhi was hiked to Rs 53.04 per kg, whereas the price in Gurugram stood at Rs 60.40 per kg.
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