In a positive for Biocon, US drug regulator USFDA has accepted a biologics licence application by biopharmaceutical major and partner Mylan for a proposed biosimilar to treat advanced colon or rectal cancer. The application seeks approval of biosimilar bevacizumab for treatment of patients with metastatic colorectal cancer in addition to other ailments. “Once approved, our … Read more
At least Rs 10.52 trillion worth of corporate loans — around 16 per cent of the system-level corporate debt — is likely to default over the next three years due to prolonged slowdown in the economy. Further, around 25 per cent of the vulnerable debt is likely to turn delinquent, resulting in additional Rs 2.54 … Read more
Healthcare startup Qure.ai has raised $16 million in an equity funding round led by Sequoia India, with participation from MassMutual Ventures Southeast Asia, it said Thursday. MassMutual Ventures is the investment arm of US-based MassMutual Life Insurance Company. Founded in 2016 by Prashant Warier and Pooja Rao, Qure.ai provides interpretations of radiology scans within seconds, … Read more
Air travel and glitch-free internet access are often considered mutually exclusive, thanks to the technical difficulties associated with making WiFi work at 40,000 feet. For the airlines, a satisfying online experience is even more elusive. The hardware, software, maintenance and inability to easily switch service providers combine for a very expensive headache. But there may … Read more
Supreme Court has dealt a significant blow to the telecom sector’s hopes. Vodafone Idea is the most impacted one. Why should it survive?
NEW DELHI: South Korea’s Kia Motors is discussing with Tamil Nadu the possibility of moving a $1.1 billion plant out of neighbouring Andhra Pradesh only months after it fully opened, due to policy changes last year, sources close to the talks told Reuters. Kia inaugurated the Andhra plant, its first in the world’s fifth-largest car … Read more
Private equity firm ICICI Venture Funds-backed patisserie Theobroma Foods Pvt. Ltd has set out on an aggressive expansion plan as it looks to multiply its sales fourfold over the next three to four years, two senior executives of the company said in an interview. “We plan to grow our sales to ₹500 crore, the number … Read more
Mumbai: Ahead of the presentation of the Union Budget 2020-21, largest pure play home financier HDFC on Tuesday pitched for a one-time loan recast for realty projects. Its Chairman Deepak Parekh said lenders are not able to write new loans for projects because a new borrowing by an entity which is already a non performing … Read more
Tesla’s market value hit $100 billion for the first time Wednesday, triggering a payout plan that could be worth billions for Elon Musk, founder and chief of the electric carmaker. Shares in Tesla rose some 4.8 per cent in opening trade to extend the gains in the value of the fast-growing maker of electric vehicles. … Read more