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Lupin launches generic Safyral tablets

Lupin, on Tuesday, announced the launch of Tydemy tablets – the generic equivalent of Bayer’s Safyral, a birth control drug. The pharma major stated that it had received US Food and Drug Administration’s (USFDA) approval in December last year.

Tydemy (drospirenone, ethinyl estradiol, levomefolate calcium, 3mg/0.03mg/0.451mg & levomefolate calcium, 0.451mg) is the generic version of Safyral, which is indicated for use by women to prevent pregnancy and raise folate levels in women who choose to use oral contraceptives.

This combination formulation had an annual sale of approximately $22mn in the US in 2017. Apart from Lupin, there seems only one player in this market.

NBCC surges 6% as CBI fails to establish charges against CMD

NBCC stock was up 6% on news that CBI has failed to establish charges against the Chairman and Managing Director (CMD) of the company. The CBI had booked the CMD of NBCC, Anoop Kumar Mittal, for alleged corruption in the Rs2,150cr re-development project of ITPO complex at Pragati Maidan. The company said the allegations against the CMD were not corroborated during the probe by CBI.

NBCC’s order book as of Q3FY18 stands at Rs80,000cr. The company expects order inflows of Rs25,000-30,000cr in FY19E. Being a niche player in the industry, NBCC would benefit from government’s initiative like Housing for All, AMRUT, Smart Cities, etc. The company’s land bank of 170 acres will fetch revenue from the real estate segment.

Indian oil refiners up 1-5% as global crude price declines

Shares of state-owned oil refiners rose 1-5% as prices of crude oil in the global markets fell on Monday. The prices fell after latest data showed that crude oil output in the US is expected to rise this year.

Indian oil refiners are major importers of crude oil and a fall in global crude oil prices supports sentiment for the sector.

Zydus gets final approval for Tizanidine Tablets

Zydus Cadila has announced that it has received final approval from the USFDA to market tizanidine hydrochloride tablets (2 & 4 mg) in the American market. ZANIDINE (brand Zanaflex) is a muscle relaxant used in the treatment of muscle spasm. The company is already selling tizanidine since March 2017. The current approval is for another formulation.

Tizanidine went off patent long time ago and the space has become crowded with more than 10 players in each strength (2 & 4 mg) in tablets and 5-6 players in the capsules. The drug size in 2017 was ~$56mn which has come down to less than $30mn.

InterGlobe Aviation down as company cancels 47 flights

Shares of InterGlobe Aviation, promoter of IndiGo airlines, declined nearly 3% during early trade after the domestic carrier cancelled 47 flights today. The cancellation follows the Directorate General of Civil Aviation’s Monday order grounding 11 Airbus A320neo aircraft with immediate effect.

The regulatory body took the decision due to repeated cases of in-flight shutdown or engine failure of aircraft powered by Pratt & Whitney’s PW1100 engine.

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