India Inc raises $1.69 bn from overseas markets in Mar
The Dollar Business Bureau India Inc has raised $1.69 billion from foreign markets in the month of March this year, an increase of 11.6% compared to a year ago. Domestic companies had raised $1.52 billion via external commercial borrowings (ECB) in the month of March last year. An extra $1.65 billion was mopped up via rupee-denominated bonds (RDBs), a type of bond permitted by the Reserve Bank of India (RBI) in 2016 for firms to float such type of bonds in foreign markets to raise funds only. The data is incomparable to RDBs mop-up. The major borrowers that went through the RDB route were HDFC - raised $758.99 million for the purpose of on-lending, Sembcorp Gayatri Power – raised $523.80 million to refinance rupee loans and ...
Zydus Cadila gets USFDA nod for chemotherapy drug
The Dollar Business Bureau Drug making company Zydus Cadila said on Wednesday that it has got approval from the United States health regulator to sell methotrexate tablets, a drug used in chemotherapy, in the US market. “The company has received final approval from the US Food and Drug Administration (USFDA) to market the drug,” Zydus Cadila said in a filing with BSE. The drug will be produced at the company’s manufacturing unit in Ahmedabad, Gujarat. The Gujarat-based company now has over 105 approvals and till now has filed around 275 ANDAs (abbreviated new drug applications) since 2003-04. Cadila Healthcare Limited is a leading global pharma company, and its arm Zydus Pharmaceuticals Inc. is a leading generic pharma company in the US. Zydus Cadila ...
Govt okays FDI proposals worth Rs. 6050.10 crore
The government deferred six proposals including those sought by companies operating in mining, financial services, insurance and banking sectors The Dollar Business Bureau FDI requests for Health Media Publishing Pvt. Ltd., Buimerc Core Investments Pvt. Ltd. and Sai Life Sciences Ltd. were also approved by the government. The government on Thursday approved five proposals seeking foreign direct investment (FDI) amounting to Rs. 6050.10crore, deferring six and rejecting two. Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 229thmeeting held onDecember 21, 2015, the government has approved five proposals of foreign direct investment (FDI) amounting to Rs.6050.10 crore, Ministry of Finance said in a statement. The largest approval was sought by Cadila Healthcare Ltd. an Ahmadabad-based pharmaceuticals company for a ...
