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TOP CORPORATE NEWS – 23 AUGUST 2019

corporate news (2)

Wockhardt rises 1% on receiving GMP Compliance Certificate for Ankleshwar facility
Shares of Wockhardt rose 1% in afternoon trade after the company notified exchanges that it had received the GMP Compliance Certificate for its Ankleshwar unit. The company said in a statement, “We wish to inform the Exchanges that French National Agency for Medicines and Health Products Safety has issued GMP Compliance Certificate that the Company manufacturing Unit at Ankleshwar, Gujarat complies with the principles of Good Manufacturing Practices for active substances. This is reflected in the Eudra GMDP database.”

Yes Bank clarifies on report of plan to raise additional capital
Yes Bank issued a clarification on reports of the bank raising additional capital via QIP. Shares of the bank were trading higher throughout today’s session and are currently up 6%. The bank in the afternoon through a filing on the NSE said that although it seeks raising capital from various sources in ordinery course of business, it is not aware of the reports that emerged today regarding the additional $1.2bn capital plan to be raised via QIP.

HDFC Bank appoints Srinivasan Vaidyanathan as CFO
HDFC Bank’s board has appointed Srinivasan Vaidyanathan as the Chief Financial Officer (CFO) of the Bank, with immediate effect. The incumbent CFO of the Bank, Sashidhar Jagdishan would continue to head the Finance function, and shoulder additional responsibilities as in charge of the verticals of Legal & Secretarial, Human Resources, Corporate Communications, Infrastructure, Administration, Corporate Social Responsibility and Change Agent of the Bank. Vaidyanathan would continue to report to Jagdish. Vaidyanathan and Jagdishan would be Key Managerial Personnel of the Bank according to Companies Act, 2013 and the Regulations.

Dabur India arm acquires management control of Excel Investments, UAE
Dabur India on Thursday announced that its arm Dabur International has acquired management control of Excel Investments in UAE effective August 20, 2019. The company in its filing said, We wish to inform you that our wholly owned subsidiary – Dabur International Limited have acquired management control of a new company namely ‘Excel Investments (FZE)’ in Sharjah, UAE on 20 August, 2019. Accordingly ‘Excel Investments (FZE)’ has become a step down wholly owned subsidiary company ofDabur India Limited w.e.f. 20 August, 2019.”

Glenmark Pharma gets ANDA approval for Fulvestrant Injection
Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Fulvestrant Injection, 250 mg/5 mL (50 mg/mL), a generic version of Faslodex Injection, 250 mg/5 mL (50 mg/mL), of AstraZeneca Pharmaceuticals LP.
According to IQVIA sales data for the 12-month period ending June 2019, the Faslodex Injection, 250 mg/5 mL (50 mg/mL) market achieved annual sales of approximately $549.9mn.

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