Orchid Gets USFDA Nod For Granisetron Hydrochloride Tabs

Submitted by Nalin Grover on Fri, 02/15/2008 - 07:11

Chennai-based drug manufacturer Orchid Chemicals & Pharmaceuticals has got sanction from the US Food and Drug Administration (FDA) for Granisetron Hydrochloride Tabs, used for treating side effects like nausea related to chemotherapy

Orchid Chemicals is the first Indian pharmaceutical company to receive approval for the non-antibiotic product that is available in 1 mg dosage strength, the company said.

The US FDA has given genric commendations for the drug to pharmaceutical companies such as Mylan, Teva, Barr Pharmaceuticals and Abraxis. Cipla also has a tentative approval from USFDA to make and promote the drug.

With restricted generic rivalry, Orchid anticipates to gain a firm market share leading to a sizeable revenue contribution from this product, it added.


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Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

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Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.

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