Everyone needs money for varied reasons and Cipla promoters are no different. They are selling a small percentage of their holding to fund their requirements. Key points to note – The promoters own 36.1% of the Company of which they are selling about 2.5% i.e., about 6.9% of their total holding. Estimated amount that will … Read more
The Company’s board is scheduled to meet on December 28, 2021 to take the decision. Key points to note – This is 3rd year in a row. Previous ones being Jan-Mar 2019 and Nov-Dec 2020. Jan – Mar 2019: Rs 100 crore at Rs 1,300 per share as against the then prevailing price of around … Read more
Eris has formed a JV with MJ Biopharm for this purpose. Key points to note – Eris will hold 70% of the JV and MJ 30%. MJ is also getting Rs 15 crore as one time lump sum licence fee. MJ will be responsible for development of products and Eris marketing of those. JV seems … Read more
The Company has confirmed that it is developing a nasal spray for COVID-19 prevention for which it has initiated the clinical trials. Key points to note – The product would be helpful in preventing infection and transmission of COVID-19. It has been developed by scientists at ITC Life Sciences and Technology Centre (LSTC). The same … Read more
IPCA already owns 9.84% of Lyka. Besides, IPCA’s promoters separately held 1.18% in Lyka. It has now bought additional 16.73% from Lyka’s shareholders taking it’s total stake to 26.57% (excluding the above 1.18%). Key points to note – In line with the regulations, the transaction has kicked an open offer of additional 26% at the … Read more
The ₹7,500 crore pharma major is one of the firms that has tied up with Russian Direct Investment Fund to manufacture COVID-19 vaccine Sputnik V in India. The Income Tax Department has detected “unaccounted” income of ₹550 crore and has seized over ₹142 crore cash after it recently raided Hyderabad-based Hetero pharmaceutical group, official sources … Read more
As many as 354 Crisil-rated companies, predominantly pharmaceutical firms and hospitals, with an aggregate bank exposure of Rs 40,000 crore will be eligible for Covid loans from lenders under RBI’s liquidity facility. Though pharmaceutical firms account for 68 per cent of rated bank exposure, hospitals (about 24 per cent of rated exposure) are likely … Read more
Driven by industries like pharma, fast-moving consumer goods, education and IT, hiring activity in India saw a growth of 24 per cent in September compared to the previous month, according to a new report by job portal Naukri on Monday. Further opening up of the economy with unlock measures and increased mobility has led to … Read more
The U.S. Food and Drug Administration (FDA) has approved Guardant Health’s liquid biopsy, Guardant360® CDx, for tumor mutation profiling in patients across all solid cancers. For Guardant Health Asia, Middle East and Africa (AMEA), this FDA approval represents a landmark achievement of the Guardant360 test. Currently, the liquid biopsy is commercially available in 41 countries in … Read more