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16-Apr2019

Dr. Reddys Lab, Majesco and Cipla to see some action today

Dr. Reddys Laboratories has received the Establishment Inspection Report (EIR) from US Food and Drug Administration (USFDA), for the company's Formulations Manufacturing Plant - 3 at Bachupally, Hyderabad. Earlier, in February, 2019 this site has undergone an audit by the USFDA, wherein the company were issued a Form 483 with 11 observations. Based on the responses and follow up actions, the US FDA has determined the inspection classification of this facility as Voluntary Action Initiated (VAI).

Majesco has unveiled the upcoming version 11 release of the Majesco P&C Core Suite, including Majesco Policy for P&C, Majesco Billing for P&C and Majesco Claims for P&C. The new version will be generally available in October 2019.

Cipla's subsidiary -- Cipla Technologies LLC and Pulmatrix, Inc., a clinical stage biopharmaceutical company has entered into a definitive agreement for the co-development and commercialization of Pulmazole (PUR1900) - an inhaled iSPERSE formulation of the antifungal drug itraconazole for the treatment of allergic bronchopulmonary aspergillosis (ABPA) in patients with asthma.

Future Consumer is planning to raise funds around Rs 280 crore through issuance of debentures to Verlinvest SA and the International Finance Corporation (IFC) on a preferential basis. The objective of the proposed preferential allotment of compulsorily convertible debentures (CCDs) is to utilise the amount for the purpose of repayment of high-cost debt, capital expenditure and working capital requirements and investments in joint ventures and business alliances.

Suven Life Science's board has approved the enhancement of investment limits in wholly owned subsidiary (WOS) in USA Suven Neurosciences, Inc. from $25 million upto $50 million to undertake clinical trials on the molecules in the pipeline. The Board of directors of the company at its meeting held on April 15, 2019 has approved for the same.

Cyient has launched a portfolio of services and solutions that help Communication Service Providers (CSPs) expedite 5G network rollouts globally. The services will help in defining the migration roadmap towards the 5G NSA standard, but also help in planning smarter and faster rollouts, including site verification and benchmarking in post deployment operations.

HPL Electric & Power has launched a new advertising campaign -'Karo Powerplay On'. The advertisement features Shikhar Dhawan, Rishabh Pant and Prithvi Shaw of Delhi Capitals and highlights the superior features that company's products share with these cricketers such as outstanding and powerful performance with high reliability.


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