Orchid receives USFDA nod for Cefuroxime

Chennai-based Orchid Chemicals & Pharmaceuticals (Orchid) has got approval for 3 of its Abbreviated New Drug Application (ANDA) for Cefuroxime drug by US Food and Drug Administration (US FDA).

According to the sources, the company will distribute Cefuroxime drug in the form of injection in infusion packs of 750 mg and 1.5 g vials. Additionally, pharmacy bulk pack of .75 g and 1.5 g vial will also be available. 

Cefuroxime is an antibiotic resistant to most betalactamases and has proved to be an effective drug for the treatment of meningitis caused by H. influenzae, meningcocci an pneumococcoi. 

Orchid has 28 abbreviated new drug applications (ANDA) approved by the U. S. FDA.

According to the reports, in the previous month, the company has linked up with Merck to develop Anti-infective drugs. 

Merck is a worldwide research-driven pharmaceutical conglomerate. 

The scrip of Orchid Chemicals and Pharmaceuticals settled well at Rs 151, up 0.5 percent on National Stock Exchange ( NSE).The total volume of shares traded was 439,657 at the NSE.


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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

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

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

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.