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TOP CORPORATE NEWS- 24 JUNE 2019

corporate news (2)

Glenmark to partner Novartis for respiratory products in Brazil
Glenmark Pharmaceuticals Ltd (Glenmark), a research led global integrated pharmaceutical company, announced that its Brazilian subsidiary, Glenmark Farmacêutica Ltd has entered into an exclusive partnership agreement with Novartis Biosciences S.A, a subsidiary of Novartis AG, for three respiratory products indicated towards treatment of the symptoms of chronic obstructive pulmonary disease (COPD) in Brazil. This agreement will be effective from July 01, 2019 onwards.The products involved in the agreement are Seebri (Glycopyrronium bromide), Onbrize (Indacaterol) and Ultibro (a combination of Indacaterol and Glycopyrronium), which are indicated for relief of symptoms in adults with COPD.

Dy RBI Governor Viral Acharya resigns before term end
Reserve Bank of India Deputy Governor Viral Acharya has resigned six months before the scheduled end of his term in office, according to a Business Standard report. Acharya will be returning to the New York University Stern School of Business in August instead of February next year, according to reports.He was appointed as a deputy governor by the Indian government towards the end of 2016 for a term of three years and his term ends only in Feb next year. Acharya was RBI’s youngest deputy governor post economic liberalization.

CG Power rises 2% after board approves Kanjurmarg land sale
Shares of CG Power & Industrial Solutions Ltd rose 2% in the afternoon session on the BSE after the company announced that it will sell its Kanjurmarg, Mumbai land that currently houses the transformer manufacturing unit, to Evie Real Estate Private Ltd. for Rs498.96cr.”The company said the transformer manufacturing unit has a turnover of Rs443.62cr which was around 11.26% of the total revenue of Rs3,938.26cr of the company as of December 31, 2018, the contribution to net-worth from such unit was Rs863.37cr as per the standalone financials of the company as of December 31, 2018,” the company stated.

Intellect Design bags an order from Bank of Mongolia
Intellect Design Arena, a global leader in financial technology for banking, insurance, and other financial services announces a prestigious engagement with the Bank of Mongolia, the Central Bank of Mongolia.In partnership with IT Zone LLC of Mongolia, Intellect will implement its award-winning Quantum Central Banking Solution. The solution is well poised to accelerate the Bank of Mongolia digital transformation initiatives under the Payment System Modernization project funded by Asian Development Bank (ADB).

Alembic Pharma gets USFDA nod for Bromfenac Ophthalmic Solution
Alembic Pharmaceuticals Limited announced that the Company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Bromfenac Ophthalmic Solution 0.09%. The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Bromday Ophthalmic Solution, 0.09%, of Bausch & Lomb Incorporated (Bausch & Lomb).Bromfenac Ophthalmic Solution 0.09% is indicated for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract surgery.

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