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TOP CORPORATE NEWS – 22 NOV 2019

Corporate-News

CORPORATE NEWS

Dr Reddys Labs launches Doxercalciferol Injection, 4mcg/2ml multiple-dose vials.

Dr. Reddy’s Laboratories Ltd. on Friday announced the launch of Doxercalciferol Injection, 4mcg/2ml (2mcg/ml) Multiple-Dose Vials, the therapeutic generic equivalent of Hectorol® (doxercalciferol) Injection 4mcg/2ml (2mcg/ml) MultipleDose Vials, approved by the U.S. Food and Drug Administration (USFDA). The Hectorol® Injection 4 mcg/2 ml (2 mcg/ml) Single-Dose Vials and Multiple-Dose Vials brand and generics had US sales of ~$138mn MAT for the most recent twelve months ending in September 2019 according to IQVIA Health.

CSB Bank IPO subscribed 35% so far on Day 1 of bidding.

The initial public offer (IPO) of CSB Bank has been subscribed 35% by 1PM on Day 1 of bidding on November 22. The Rs410cr public issue received bids for 28.85 lakh equity shares against a size of 1.15cr shares (excluding anchor book). The reserved category of retail investors was fully subscribed (1.84 times), non-institutional investors received subscription of 5%, and qualified institutional buyers are yet to subscribe.

RBI appoints an Advisory Committee to Advise the Administrator of DHFL.

It may be recalled that the Reserve Bank of India, on November 20, 2019, had superseded the board of directors of Dewan Housing Finance Corporation Ltd (DHFL) and appointed R Subramaniakumar as the Administrator. The Reserve Bank, in the exercise of powers conferred under section 45 IE 5(a) of the RBI Act 1934, has today constituted a three-member Advisory Committee to assist the Administrator of DHFL in the discharge of his duties, the central bank said in the press note.

Alembic Pharma gets USFDA approval for Deferasirox tablets.

Alembic Pharmaceuticals Limited has received approval from the US Food & Drug Administration (USFDA) for its following Abbreviated New Drug Applications (ANDAs): The pharma company has received final approval from USFDA to market Deferasirox tablets, 90 mg and 360 mg. This medication is used to treat a chronic iron overloaded due to blood transfusions in patients 2 years of age and older.

ZEEL trades 3% higher after promoter group sells 14cr shares in bulk deal.

The promoter group of Zee Entertainment Enterprises sold more than 14cr shares of the company in bulk deals on November 21.
The promoters included Cyquator Media Services Private Limited, ESSEL Corporate LLP, and ESSEL Media Ventures Limited, who sold their respective stake in the company. Cyquator Media Services Private Limited sold 6, 16, 26,543 shares, ESSEL Corporate LLP sold 1, 18, 38,350 shares, and ESSEL Media Ventures Limited sold 6, 94, 03,106 shares in the company at an average price of Rs304/share.


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