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TOP CORPORATE NEWS- 1 Nov 2018

Corporate News

Cadila gets final USFDA nod for Vardenafil Hydrochloride, Ursodiol tablets

Zydus Cadila has launched Vardenafil Hydrochloride Tablets (US RLD – LEVITRA Tablets), 2.5 mg, 5 mg, 10 mg and 20 mg in the US market upon receiving the final approval from the USFDA.
Manufactured at the group’s formulations manufacturing facility at SEZ, Ahmedabad, the medication is indicated for the treatment of erectile dysfunction, the company said in a filing.

M&M automotive sales beat estimates in October on strong CV sales

Mahindra and Mahindra Limited (M&M) reported total volume growth of 14% yoy (6% mom) in October 2018. It sold 58,416 units (domestic + exports) in October 2018 against 51,160 units in October 2017 and 55,022 units in September 2018. Total volumes surpassed BloombergQuint poll estimate of 53,500 units. Domestic volumes were up 13% yoy (8% mom) at 55,350 units while exports were up 33% yoy (down 18% mom) at 3,066 units.

Glenmark launches Nourkrin in Russia

Glenmark Pharmaceuticals has launched Nourkrin in Russia. Reacting to this development, shares of the company climbed 1% in afternoon trade on Thursday. Glenmark Impex LLC, the Russian subsidiary of Glenmark Pharmaceuticals, will market Nourkrin Woman and Nourkrin Man in Russia
Nourkrin is a proteoglycan replacement formula for addressing cause of hair loss in males and females. The marketing will be done under a licensing agreement with Pharma Medico ApS, a Denmark-headquartered firm, the company said in a press note to the exchanges on Thursday. The company has launched Nourkrin Woman in India earlier this year.

United Spirits in high spirit; stock soars 7.5% post results

After delivering a strong performance and recording a double-digit sales growth for the second consecutive quarter, shares of United Spirits soared 7.50% in intraday trade on Thursday.
The company has reported that its net sales growth during the quarter was 14%, driven by strong growth in both the Prestige and Above and Popular segments, while also benefitting from a relatively lower base last year.

Bosch to consider share buyback proposal for November 5

Bengaluru-based auto components major Bosch, in a regulatory filing, said that its board will meet next week to consider a share buyback proposal.
The company’s board at its meeting scheduled to be held on November 5 will consider the unaudited financial results for the second quarter and half year ending September 2018, along with the proposal for buyback of the company’s equity shares, the filing claimed.

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