Glenmark clinical trials

Glenmark Pharmaceuticals SA (Switzerland) has filed for phase I clinical trials for “GRC 3886”, a novel drug candidate for chronic obstructive pulmonary disorder and asthma, with the medicines and healthcare products regulatory agency in the United Kingdom. The phase I study, expected to commence in September, would be conducted in the UK by Quintiles, a leading global clinical research organisation. The trial is expected to be complete by March 2005.

Autodesk

Autodesk, a design software firm, will ramp up its India operations from 83 professionals to 200 in the next two to three years. The team would provide IT and application support and customer response, Autodesk India and Saarc managing director Vishal Dhupar said.

Polaris

Polaris Software Lab, an infotech major, has embarked on a six-month-long marketing and advertisement campaign for selling its latest ‘intellect suite’ product to the banking industry. Polaris Software is focusing its attention on the domestic banking, financial services and insurance segment, after its successful ventures in overseas markets, company officials said.

Capital Intl

Capital International, an overseas investor, has picked up about 5.7 lakh shares of Kotak Mahindra Bank at Rs 359.98 apiece, aggregating over Rs 20 crore.

Man venture

Man Industries has announced a joint venture with the US-based Aluchem for bidding for an alumina refinery in Gujarat. “We have bid for setting up a 5 lakh-tonne refinery at Kutch in Gujarat and the decision would be taken by the state government within a month,” Man Industries chairman Ramesh Mansukhani said.

Wipro Tech

Wipro Technologies, the global IT services division of Wipro Limited, has been rated as a leader among offshore service providers by industry analysts, IDC, in a study of 21 offshore players around the world, including the Apac, Europe and Latin America.

White Tiger

The Rs 200-crore Shiv-Vani group, which has diversified into laundry chains from its interests like textiles and oil exploration, is strengthening its dry cleaning and other related business by spending Rs 70 crore. “We will increase our presence in 10-12 cities in the north. Soon, we will also venture in the west,” vice-president (corporate) Rajeev Sekhri said.

NLC output

Neyveli Lignite Corporation has set a production target of 21.45 million tonnes of lignite in 2004-05 against an estimated 21 million tonnes for the fiscal. The state-owned mining company has also set a target of producing 16,500 million units of power against a budget estimate of 15,286 million units.