Ciba Specialty Chemicals India has signed a joint venture agreement with the Virchow Group, Hyderabad, for the production of high quality Triclosan, a highly efficacious, long-lasting anti-microbial ingredient. Used in a variety of products including toothpaste, soap, deodorants and non-cosmetic articles such as shower curtains and technical textiles, Triclosan helps to prevent the occurrence of oral infections, germ transfer, body odour and material decay.
Cadila Healthcare has received tentative approval from the U.S. FDA to market Pravastatin Sodium tablets, 10 mg, 20 mg, 40 mg and 80 mg., in the U.S. market. The drug, a lipid lowering agent, falls in the cardiovascular segment. The company will market the drug through its U.S. subsidiary Zydus Pharmaceuticals (USA) Inc., following patent expiry.
Siyaram Silk Mills has recommended a final dividend of 20 per cent (Rs. 2 per equity share of Rs. 10). Further, the board of directors has recommended issue of bonus shares in the ratio one share for every two shares held.
Varun Shipping has informed the Exchange that the company had lodged its draft amended prospectus with the Monetary Authority of Singapore in connection with the proposed issue of Singapore Depository Shares of the company. In view of volatile stock market conditions prevailing globally, the company, in consultation with the Lead Manager, has decided to launch the issue when the market conditions are more conducive.
Wockhardt has received U.S. FDA's tentative approval for Divalproex Sodium delayed release tablets, making it the company's first product incorporating NDDS (novel drug delivery system) to be cleared for sale in the U.S. The company's U.S. subsidiary, Wockhardt USA Inc., will launch it on the first day of patent expiration in the U.S. market.
Gemini Communication has signed an agreement to acquire the entire share capital of Clear Blue Llc. which own IPRs in the wireless broadband space. With the acquisition of the company, Gemini will become the largest wireless broadband company in South Asia.
Pondy Oxides and Chemicals: 15 per cent; Bimetal Bearings: 62.5 per cent; Kennametal India: Rs. 30 per share (interim); Polyplex Corporation: 10 p.c. (final); Loyal Textile Mills: Rs. 3.90 per share.