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TOP CORPORATE NEWS- 21 May 2019

corporate news (2)

Glenmark Pharma gets USFDA nod for Solifenacin Succinate tablets
Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Solifenacin Succinate Tablets, 5 mg and 10 mg, a generic version of Vesicare Tablets, 5 mg and 10 mg1, of Astellas Pharma US, Inc.According to IQVIA sales data for the 12-month period ending March 2019, the Vesicare Tablets, 5 mg and 10 mg market achieved annual sales of approximately $942.7 million.Glenmark current portfolio consists of 154 products authorized for distribution in the U.S. marketplace and 58 ANDA pending approval with the U.S. FDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.

GAIL India to consider bonus issue on May 27
GAIL India, in its press note to the exchanges, informed that the company board will meet on May 27 to consider bonus issue.”The board of directors will also consider, the audited financial results for the quarter/ year ended on March 31 2019 and also to consider recommendation of final dividend for FY19, if any,” the company said in a press note after markets hours to the exchanges on Monday.

Thyrocare Tech founder offers to buy entire company stake in unit
Thyrocare Tech, in its press note to the exchanges, informed that Dr. A. Velumani, Chainnan, Managing Director & CEO has offered to buy the entire shareholding of the company in Nueclear Healthcare Limited (NHL), the wholly owned subsidiary.The offer made at the current investment value of Rs194.67cr to ensure that there is no loss to the public shareholders, the company said in a press note to the exchanges on Tuesday.

BHEL commissions two more units of Kaleshwaram project
Bharat Heavy Electricals Limited (BHEL) has successfully commissioned two more pumping units (Units 3&4) of 116 MW each, of the 7×116 MW Kaleshwaram Lift Irrigation Scheme (LIS) Package-6 in Telangana.BHEL had earlier commissioned units 1&2 of the same project in April 2019. Significantly, the pump for each unit is designed to lift 89.16 cumecs (cubic metres per second) of water by 105.5 metres.

Alembic Pharma receives USFDA approval for Solifenacin Succinate
Alembic Pharma, in its filing to the exchanges on Tuesday, informed that the company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Solifenacin Succinate Tablets, 5 mg, and 10 mg, reacting to this, shares of the company climbed 1% on the BSE.The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Vesicare Tablets, 5 mg, and 10 mg, of Astellas Pharma US, Inc. Solifenacin Succinate Tablet is a muscarinic antagonist indicated for the treatment of overactive bladder with symptoms of urge urinary incontinence, urgency, and urinary frequency.

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