Clinigene opens clinical trial centre
Bangalore: Biocon India's clinical research subsidiary, Clinigene International, has opened a human pharmacology unit (HPU) that will conduct phase 1 clinical trials and related studies for pharma R&D companies. Five domestic and six international pharma majors have enlisted Clinigene, set up three years ago, to conduct clinical research for their pipeline drugs, Dr Arvind Atignal, COO of Clinigene, said.

The 26-bed, 3,000 sq.ft HPU set up with a total investment of Rs 6 crore is located at the superspecialty Sagar Apollo Hospital. The unit will conduct trials in compliance with global ethical and regulatory standards and will focus on bio-availability and bio-equivalence studies of drugs on healthy human volunteers, Dr Arvind said. The BA/BE study unit is located at Biocon.
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Magene to invest Rs 15 crore
Hyderabad: Magene Life Sciences, a city-based company, is planning to invest Rs 15 crore to create a discovery research laboratory and contract manufacturing facility in Medchal on the outskirts of the city. The start-up floated in September 2002 by the Chary Group of Companies has so far invested Rs 7 crore and created a laboratory. Today, it also launched a corporate learning programme in biotechnology, M P Chary, the chairman of the group, said.

With 26 research staff and set to expand, Magene Life Sciences wants to position itself as a company that can take up discovery research, contract research and offer a range of bio-services. It is close to signing up agreements with 3 US-based companies, he said. The learning programme in biotechnology was launched by B P Acharya, secretary, Department of Industries and Commerce, Government of Andhra Pradesh. An MoU was signed by T R Bhoopathy, MD and CEO of Magene, and Uday Kumar, COO of Sartorius India Pvt Ltd, which will be part of the programme.
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Ashok Leyland to raise $100 million
Chennai: Ashok Leyland Ltd is planning to raise long-term funds of up to $100 million to finance its expenditure and working capital requirements. In a communication to the bourses, the company said the board meeting scheduled for January 23 will consider a proposal to raise the funds through debt or equity in the international or domestic markets.
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BHEL gets Rs 599-crore MSEB contract
New Delhi: Bharat Heavy Electricals Ltd (BHEL) has bagged a contract for setting up one unit of 250mw at New Parli thermal power station (extension) in Maharashtra, under international competitive bidding guidelines. Valued at Rs 599 crore, the order has been placed on BHEL by the Maharashtra State Electricity Board (MSEB), which has once again opted to source equipment from the public sector major. With this, BHEL has achieved a landmark by recording the highest-ever power sector order booking of over Rs 10,000 crore in a single year.

BHEL's scope of work in the contract envisages design, engineering, manufacture, supply, erection and commissioning of the steam generator, the steam turbine and generator along with associated auxiliaries, including, controls and instrumentation, transformers and electrostatic precipitators. The unit is to be commissioned within a tight schedule of 31 months.
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TVS Motor to touch 1-million mark
Pune: TVS Motor Company says it is expecting to touch the 1-million mark in motorcycle sales in fiscal 2004-05. The company is also working on a number of variants of its Victor model in the next fiscal, R. Chandramouli, vice-president, (sales and marketing), said.

The company, which delivered the first hundred units of its new 100 cc motorcycle, Centra, with patented VT-I (variable timing intelligent engines) technology to customers in Pune, will focus largely on the executive segment which is where much of the demand for motorcycles is, Mr Chandramouli said adding, however, that it would also introduce models in the premium segment.
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ACC mulls over Idcol merger
Mumbai: The board of directors of Associated Cement Companies will consider a proposal to merge the company's subsidiary Idcol Cement with ACC at its meeting scheduled for January 23 this year. ACC acquired 86.79 per cent equity stake in Idcol Cement from Industrial Development Corporation of Orissa Ltd., for Rs 176.41 crore about a month ago.

Idcol will also be renamed Bargarh Cement Ltd, said ACC in its notice to bourses. ACC has also paid Rs 5.61 crore towards unsecured loans of Idcol, whose capacity is around one million tonnes
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