Ranbaxy drug gets US nod
New Delhi, March 20: Ranbaxy Laboratories Limited has been granted US Food and Drug Administration’s approval to market Amoxicillin and Clavulanate Potassium for oral suspension USP, which is the generic version of GlaxoSmithKline’s Augmentin. Augmentin has combined sales of $ 1.2 billion with total sales of $ 272.5 million in the suspension market.
Calcutta, March 20: The board of directors of Pramod Mittal-promoted Ispat Industries is planning to merge its subsidiary, Ispat Metallics India Ltd, with itself. The board had been convened on March 26 to consider the proposal. The merger will be effective from April 1, 2003.
Mumbai, March 20: The Securities and Exchange Board of India (Sebi) has suspended Calcutta-based Pradeep Kayan & Co’s certificate of registration for six months effective from March 11.
Calcutta, March 20: The Calcutta Stock Exchange (CSE) will introduce T+2 system of settlement with effect from April 1 as per Sebi’s February 12 circular. The exchange at present has T+3 settlement.
Mumbai, March 20: Karnataka-based Tata Coffee Ltd will merge its wholly-owned investment and trading subsidiary, Conscofe Investments Ltd, with the company. The board will meet on March 26 to consider the merger proposal, the company informed the BSE today.