Check out the most important news stories, which captured the headlines at the corporate level in India and internationally.
US FDA issued negative observations regarding Lupin’s Goa facility. Management later confirmed that in the inspection which took place last week, the US FDA had cited nine observations all relating to inadequacy and adherence to standard operating procedures.
The Income Tax Department has slapped on UK's Cairn Energy Plc, a tax demand notice of over Rs290bn, including Rs188bn in back dated interest. Cairn allegedly made capital gains in a 2006 reorganization of its India business.
Persistent Systems acquired Australia-based PRM Cloud Solutions, a certified Salesforce consulting partner. The company did not disclose the valuation of the deal. PRM is among Australia's leading Salesforce partners and cloud application development firms, focused on building digital experiences on Salesforce1 cloud platform.
Aurobindo Pharma has received final approval from USFDA to manufacture and market Ibandronate Sodium Tablets, 150 mg. This product is expected to be launched in the 1QFY17. Ibandronate Sodium tablets are used in the treatment and prevention of osteoporosis in postmenopausal women.
Larsen & Toubro said its construction arm has bagged orders worth Rs 16.7bn across various business verticals, including residential construction and power and distribution.
Delhi High Court granted Pfizer an interim injunction on a ban on its popular cough syrup Corex, days after the government ordered it to be prohibited. It also granted interim injunction to Abbott's India unit, Glenmark Pharmaceuticals and Macleods Pharmaceuticals.
Procter and Gamble has discontinued manufacture and sale of its popular brand ‘Vicks Action 500 Extra’ with immediate effect after the government banned fixed dose combination drugs.
Zee Entertainment Enterprises will fully acquire aviation firm Fly By Wire for a total consideration of Rs613mn in an all-cash deal. Fly By Wire International provides aircraft charter services.
Aditya Birla Nuvo Ltd, which won a license last year to set up a non-lending bank in India, will start its digital wallet services by the end of 2016 as it prepares to tap one of the world’s fastest growing smartphone markets.
Wipro Limited has entered into a strategic partnership with Schneider Electric, a global specialist in energy management and automated systems, to develop convergent solutions for India's Smart Cities.
Drug major Lupin said it has received nine observations relating to inadequacy and adherence to operating norms for its manufacturing plant in Goa from the US Food and Drug Administration (USFDA).
Blue Star Limited, has announced the launch of a stylish range of airconditioners comprising a wide array of highly energy-efficient as well as eco-friendly split airconditioners for the residential and commercial segments.
Alphageo India has announced that it has bagged order worth Rs.102 crore from Oil India.
Acceding to a few demands of the striking workers of the Nano Plant at Sanand, Tata Motors is permitting them to form a union, but with a condition that only Tata's employees will be a part of them.
Global Vectra Helicorp has inked a Memorandum of Understanding (MoU) with Era Group Inc. (Era) to jointly develop Helicopter Emergency Medical Services (HEMS) for the Indian market.
Colgate-Palmolive Company announced that C. Martin Harris, Chief Information Officer and Chairman of the Information Technology Division of The Cleveland Clinic Foundation, has been elected to Colgate's Board of Directors
The Income Tax Department has slapped on UK's Cairn Energy Plc, a tax demand notice of over Rs290bn, including Rs188bn in back dated interest. Cairn allegedly made capital gains in a 2006 reorganization of its India business.
Persistent Systems acquired Australia-based PRM Cloud Solutions, a certified Salesforce consulting partner. The company did not disclose the valuation of the deal. PRM is among Australia's leading Salesforce partners and cloud application development firms, focused on building digital experiences on Salesforce1 cloud platform.
Aurobindo Pharma has received final approval from USFDA to manufacture and market Ibandronate Sodium Tablets, 150 mg. This product is expected to be launched in the 1QFY17. Ibandronate Sodium tablets are used in the treatment and prevention of osteoporosis in postmenopausal women.
Larsen & Toubro said its construction arm has bagged orders worth Rs 16.7bn across various business verticals, including residential construction and power and distribution.
Delhi High Court granted Pfizer an interim injunction on a ban on its popular cough syrup Corex, days after the government ordered it to be prohibited. It also granted interim injunction to Abbott's India unit, Glenmark Pharmaceuticals and Macleods Pharmaceuticals.
Procter and Gamble has discontinued manufacture and sale of its popular brand ‘Vicks Action 500 Extra’ with immediate effect after the government banned fixed dose combination drugs.
Zee Entertainment Enterprises will fully acquire aviation firm Fly By Wire for a total consideration of Rs613mn in an all-cash deal. Fly By Wire International provides aircraft charter services.
Aditya Birla Nuvo Ltd, which won a license last year to set up a non-lending bank in India, will start its digital wallet services by the end of 2016 as it prepares to tap one of the world’s fastest growing smartphone markets.
Wipro Limited has entered into a strategic partnership with Schneider Electric, a global specialist in energy management and automated systems, to develop convergent solutions for India's Smart Cities.
Drug major Lupin said it has received nine observations relating to inadequacy and adherence to operating norms for its manufacturing plant in Goa from the US Food and Drug Administration (USFDA).
Blue Star Limited, has announced the launch of a stylish range of airconditioners comprising a wide array of highly energy-efficient as well as eco-friendly split airconditioners for the residential and commercial segments.
Alphageo India has announced that it has bagged order worth Rs.102 crore from Oil India.
Acceding to a few demands of the striking workers of the Nano Plant at Sanand, Tata Motors is permitting them to form a union, but with a condition that only Tata's employees will be a part of them.
Global Vectra Helicorp has inked a Memorandum of Understanding (MoU) with Era Group Inc. (Era) to jointly develop Helicopter Emergency Medical Services (HEMS) for the Indian market.
Colgate-Palmolive Company announced that C. Martin Harris, Chief Information Officer and Chairman of the Information Technology Division of The Cleveland Clinic Foundation, has been elected to Colgate's Board of Directors
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