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In the bustling world of Indian stock markets, several prominent companies are making waves with their recent developments. Here’s a closer look at some of the latest updates:
Dr Reddy’s Laboratories, a pharmaceutical giant, has struck a lucrative licensing agreement with US-based Ingenus Pharmaceuticals. This deal involves the commercialization of Cyclophosphamide injection, a crucial cancer treatment, in the US market. As per the agreement, Dr Reddy’s will oversee the marketing of the injection and share 50% of the calculated profit with Ingenus.
Torrent Pharmaceuticals recently received a Form 483 with five observations from the US FDA after an inspection of its manufacturing plant in Gujarat. This development has garnered attention in the pharmaceutical industry due to its regulatory implications.
Gensol Engineering has emerged as the successful bidder for Gujarat Urja Vikas Nigam’s significant Battery Energy Storage Project, valued at ₹1340 crore. This project holds strategic importance in the state’s energy landscape and will cater to the electricity needs of Gujarat State’s DISCOMs during peak and off-peak hours.
L&T Finance, a key player in the financial sector, is in the spotlight as private equity major Bain Capital plans to exit the company by selling its stake through a block deal. This move signals a significant shift in ownership dynamics within the organization.
Glenmark, a renowned pharmaceutical company, has received approval from the US FDA to market a generic medication aimed at treating conditions arising from excessive acid production in the stomach. This regulatory nod opens up new growth avenues for Glenmark in the competitive US pharmaceutical market.
