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Vivimed acquires Actavis drug facility for Rs 122 crore, gets US generic entry

Vivimed Labs is acquiring a drug-making facility in India, that comes with regulatory approval from the US Food and Drug Administration (US FDA), giving it acess to the US market. It will get two products as part of the deal and some outsourcing contracts that will give it access to quicker revenue streams. In the longer run, it plans to file to sell new drugs from this facility.


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L&T gets Rs 8,250 crore Riyadh Metro order

Engineering and construction company Larsen & Toubro (link) has won a sizeable international order from the Arriyadh Development Authority (link), as part of a consortium to build a metro for the city of Riyadh, in Saudi Arabia. L&T said that it has got an order worth $1.4 billion or Rs 8,250 crore for design, construction and commissioning of a metro project.


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Lupin to sell generic Glumetza in US market, with 6-month sole seller status

Lupin’s U.S. subsidiary, Lupin Pharmaceuticals Inc., has got approval to sell the generic form of an anti-diabetes drug (for type II diabetes) in the U.S. market. Currently, specialty biopharmaceutical company Santarus Inc. holds the right to market the patented drug Glumetza HCL ER in the U.S. market, the generic form of which (Metformin Hydrochloride extended release tablet) Lupin will market in dosages of 500 mg and 1000 mg. Continue Reading →

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Bayer CropScience takes tender route for Rs 455 crore buyback

Bayer CropScience’s share has jumped by 9.4% to Rs 1749 since it announced a week ago, that it is planning a share buyback. Today, its board said it has approved the proposal. But minority shareholders are likely to get a jolt, as the buyback will be through the tender route instead of a buyback routed through the stock market. And, what could be more upsetting is that the price has been fixed at Rs 1,580, a discount of 9.7% to the current price.

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