Aurobindo to file new drug applications
Hyderabad: Aurobindo Pharma Ltd (APL) intends to file drug master files (DMFs) and abbreviated new drug applications (ANDAs) in the regulatory markets in the near future. The Hyderabad-based Rs 1,190-crore drug major has been implementing a restructuring programme for its manufacturing facilities involving over Rs 400-crore investments during the last couple of years. At the company's annual general meeting here on Friday, APL chairman P V Ramaprasad Reddy informed shareholders that the company is working towards achieving international certification from regulatory authorities.

Saying that the company was dedicated to possess at all times manufacturing facilities that satisfy current Good Manufacturing Practices, he said: "Three active pharmaceutical ingredients (APIs), manufacturing hubs and two formulation hubs are compliant ready for regulatory inspection and these facilities are aggressively working on DMF and ANDA filings to create one of the largest product portfolios in the world." The Research Centre of Aurobindo, with over 260 scientists focusing on creation of intellectual property in global generics business, was actively working on non-fringing processes and patents and dossiers for DMFs and ANDAs, he said.
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Toyota want to make engines, seeks FIPB nod
New Delhi: Toyota Kirloskar is planning to start the assembling of its engines in India and has already made an application for the same to the Foreign Investment Promotion Board (FIPB). "We have very recently made an application to the FIPB to gain approval to commence assembly of the engines. We intend to assemble these engines in the first phase in India," A Toyoshima, managing director, Toyota Kirloskar Motor Ltd (TKML), said. Toyoshima, nevertheless, declined to mention the timeframe for the commencement of assembly of the engines adding that it would not require substantial investments.

Currently, Toyota is importing the engines for the Qualis from Thailand and for the Corolla from Japan. The move to assemble in India would increase the localisation levels of both the cars from the current 76 per cent and 58 per cent respectively. When asked whether Toyota proposes to increase sourcing from its Thailand facility once the Free Trade Agreement (FTA) comes to place, Toyoshima said the auto industry from both the sides would benefit from the FTA as Indian vendors would also get an opportunity to supply to Toyota's Thailand facility.
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Ranbaxy gets FDA approval for diabetes drug
New Delhi: Ranbaxy Laboratories Ltd has received approval from the United States Food and Drug Administration to manufacture and commercialise Metformin HCI oral solution 100 milligram per millilitre. Ranbaxy Pharmaceuticals Inc, a wholly owned subsidiary of Ranbaxy Laboratories Ltd, will market the drug under the brand name Riomet.

Riomet Oral solution can be used in adjunct with diet and exercise to improve glycemic control in patients with Type 2 Diabetes. It will offer an alternate dosage form to the tablet dose that has been in the American market place for a number of years. Total market sales for all forms of Metformin were $1.6 billion.
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Apollo termed Superbrand in healthcare
Hyderabad: Apollo Hospitals, India's largest healthcare services provider, has announced that it was recognised as a `Superbrand of India' in the healthcare sector for the year 2003. The hospital says its brand was selected out of a national list of 711 brands across 95 categories. The selection was undertaken by independent Superbrands Council, comprising the country's leading marketing and advertising professionals.

At present, the Apollo Hospitals group is the third largest health service provider in the world. It is present in over 37 locations in the country. Some of the segments in which Apollo is present include hospitals and clinics, pharmacies, IT outsourcing and medical education. The criteria adopted by the Superbrands Council were not of market share but more to do with the brand image and perception. The influencers were largely the brand's mind dominance, goodwill, consumer loyalty and emotional bonding.
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Bajaj Auto to go for another VRS
Pune: Bajaj Auto plans to bring down its employees-level from 17,000 to 10,000 by March 2004, Rahul Bajaj, chairman and managing director, Bajaj Auto Ltd, had said three years ago. The company seems to be well poised to achieve the desired target as it has by now brought the figure down to 11,200. K Srinivas, DGM (HRD), said the company is at present looking at a voluntary retirement scheme (VRS) for the workers at its Akurdi plant in Pune, according to reports. This comes in close succession of the VRS, which the company offered to its staff level employees that concluded on August 30. He said the company is still working out the `details' of the VRS to the workers and it would be brought to the employees notice soon.

The company is looking at downsizing its employee strength at its Akurdi plant to 3,000 from 4,000. The reason for downsizing, according to Srinivas, is that "it is the oldest plant and is overstaffed". The pay packet that would be offered would be three months of wage for every completed year of service or a maximum of Rs 5 lakh. The scheme will be applicable to employees who have either completed 40 years of age or 10 years of service. This was the same package that was offered to the staff level employees.
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Escorts to make open offer for EFL stake
Mumbai: Two Escorts group companies have made an open offer to acquire up to 80,50,000 equity shares of Escorts Finance Ltd (EFL) at Rs 10. The offer closes on 20 September. The shares are being acquired by Escorts Finance Investments and Leasing Pvt Ltd and Escotrac Finance and Investments and Leasing Pvt Ltd, following the conversion of optionally convertible loans and allotment of equity shares of EFL to the two companies.

"The holding of the promoters and the promoters' group increased substantially consequent to the conversion of convertible loans into equity. The post-preferential issue equity of EFL is Rs 40.25 crore and after the acquisition of 20 per cent under the open offer, the holding of the promoters would increase to 94.87 per cent and the public holding will be 5.13 per cent," a company statement said.
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HC adjourns Jessop sale case till 14 November
Kolkata: Justice Pronab Kumar Chattopadhyay on Friday adjourned the case of Titagarh Wagon Ltd, which challenged the confirmation of sale of Central Government's stake in Jessop & Co Ltd till November 14.

Titagarh Wagon filed a proceeding in the high court challenging the confirmation of sale in favour of Ruia Cotex Ltd because the amount Ruia offered, according to it, was less in comparison to that of Titagarh.
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