- Odisha pollution control board has accorded its consent to Indian Oil Corporation Ltd for laying of the underground cross country pipeline of 1,150-kilometre length from the latter's Paradip refinery to Hyderabad. The pipeline will be used for transportation of petroleum products like high-speed diesel, motor spirit, superior kerosene oil, aviation turbine fuel of 4.5 million tonnes per annum. The cost of the project to lay the stretch of the pipeline in the state is pegged at `983 crore.
Oil & Gas
- Reliance Industries Ltd's annual naphtha exports will rise by 500,000 tonnes this fiscal year as it switches to ethane at its petrochemical projects. Asia is structurally short of naphtha and relies on the West and Middle East to fill most of the gaps.
- Hindustan Copper is looking to invest around Rs 5,000 crore over the next four years as it makes a strategic shift to value-added products and ramps up mine capacity three-fold.
- Alembic Pharmaceuticals has received the US health regulator's nod for anti-bacterial Doxycycline capsules. Doxycycline capsules are used in treatment and prevention of infections that are proved or strongly suspected to be caused by bacteria.
- Healthcare Global Enterprises (HCG), a Bengaluru-based chain of specialised cancer care centres, plans to set up a dozen new hospitals over the next 18 months. HCG plans to expand its network of cancer care centres to about 30 from 21 now, and will add a few more IVF clinics to its existing network.
- India has granted US drug giant Pfizer a patent for its blockbuster Prevenar 13, a vaccine that helps prevent cases of pneumonia, one of the leading causes of deaths of children under five years of age.
- Suven Life Sciences has secured a product patent in Japan to be used for developing therapeutic agents that are useful in the treatment of neurodegenerative diseases.
- Aurobindo Pharma has received tentative approval from the USFDA for dolutegravir, lamivudine and tenofovir disoproxil fumarate tablets, used for the treatment of HIV, in the US market.
- Aurobindo Pharma would broaden product portfolio in the US while entering new markets in Europe as part of its growth strategy over the next 3-4 years. In the US, it plans to broaden portfolio through accelerated growth in injectable, OTC and higher complexity products. On the other hand, in Europe, the company is planning to expand presence into new geographies such as Poland and Czech Republic.
- Zydus Cadila has received final approval from the US health regulator to market Pindolol tablets, used for treatment of hypertension.
- Lupin announced the launch of its Quetiapine Fumarate Extended Release Tablets 50mg, 150mg, 200mg, 300mg and 400mg having received approval from USFDA earlier. It is indicated for the treatment of schizophrenia and depressive disorder. It is the generic equivalent of AstraZeneca's Seroquel XR tablets.
- Ashok Leyland and Indian Institute of Technology Madras (IIT Madras) have signed a Memorandum of Understanding (MOU) to set up a Centre of Battery Engineering (CoBE) at IIT Madras. The objective of this MOU is to promote research and development (R&D) activities for strengthening battery engineering and related sub-parts, especially for electric vehicles. Ashok Leyland will provide a funding of Rs 1.5 crore over a 5-year period to this centre at IIT Madras.
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- Bluestar has received orders worth over Rs 500 crore from various realty players across the country.