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TOP CORPORATE NEWS- 13 MAR 2019

Corporate-News
Unichem receives ANDA approval for Allopurinol tablets
Shares of Unichem Laboratories gained 2% after the company received ANDA approval for its Allopurinol Tablets, USP 100 mg and 300 mg from the United States Food and Drug Administration (USFDA) to market a generic version of ZYLOPRIM@ (allopurinol) Tablets.
Tablets are indicated for the management of patients with signs and symptoms of primary or secondary gout (acute attacks, tophi, joint destruction, uric acid lithiasis, and/or nephropathy), the company said in a press note to the exchanges on Wednesday.

MindTree gains 1% on reports of L&T acquiring stake in co
Shares of Mindtree gained 1% on Wednesday after media reports suggested that Larsen & Toubro (L&T) is likely to acquire ~20% stake owned by Coffee Day founder VG Siddharthas stake in the company.
As per the Mint report, the acquisition deal could trigger a hostile takeover bid by L&T to make an open offer to hike its stake to 51%. Meanwhile, CNBC-TV18 reported the share sale could occur in the Rs950-1,000 price band.

Zydus gets final USFDA approval for Potassium Chloride ER capsules
Zydus Cadila has received the final approval from the USFDA to market Potassium Chloride Extended-Release Capsules USP (US RLD  Micro-K Extended-Release Capsules), 8 mEq (600 mg) and 10 mEq (750 mg).
It will be manufactured at the groups formulations manufacturing facility at SEZ, Ahmedabad, the company said in the BSE filing.
This medication is a mineral supplement used to treat or prevent low amounts of potassium in the blood.

SpiceJet, Jet Airways slip after DGCA grounds Boeing 737 Max aircraft
Shares of SpiceJet slipped 5% and those of Jet Airways dropped 3% on Wednesday after the Directorate General of Civil Aviation (DGCA) grounded Boeing 737 Max aircraft with immediate effect.
“These planes (Boeing 737 Max aircraft) will be grounded till appropriate modifications and safety measures are undertaken to ensure their safe operations,” the Civil Ministry said on Social Media platform.

SPARC enters into a research collaboration with HitGen Limited
HitGen Ltd. and Sun Pharma Advanced Research Company Ltd. (SPARC) announced a research collaboration to identify novel small molecule leads for targets of interest.
Under this collaboration, HitGen will apply its advanced technology platform, based on DNA-encoded library design, synthesis and screening, to discover novel leads for SPARC. Under the terms of the agreement, HitGen will receive upfront payment and will be eligible for certain milestone payments.

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