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Biocon developing anti-cancer vaccine
Bangalore:
Biocon
has announced that the US-based CancerVax Corp is licensing
three cancer vaccines under development from Biocon's
joint venture partner in Cuba. Cancer
Vax has received US approval to license the vaccines from
Cuba's Centre for Immunology and Molecular Biology (CIMAB).
The deal will involve both clinical development and manufacturing
of the said vaccines.
CancerVax
will make an upfront payment of $6 million payable over
three years and an additional $35 million and royalties
upon commercialization. The territories covered in the
agreement include United States, Europe and Japan. Bangalore-based
Biocon has already begun clinical trials and the joint
development of cancer anti-bodies will be done with CIMAB.
Biocon expects to come out with the cancer anti-body by
the end of next year and the cancer vaccine by the end
of two years.
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Ispat
Nigam into expansion plans of Rs.18, 000 crore
Mumbai: Rashtriya Ispat Nigam Ltd (RINL) has chalked
out an investment plan of Rs.18, 000 crore to raise steel
production to 10 million tonnes in the Vishakapanam Steel
Plant (VSP). This will be a three-phase expansion plan
that will extend to 2018. The first phase envisages increasing
production from 3 million tones(mt) to 5 million tonnes
at a cost of Rs.3, 000 crore, which will be met entirely
through internal accruals. In the second phase, production
will be further increased to 6.8 mt and to 10 mt in the
third phase.
Meanwhile, RINL is also scouting for iron ore and coalmines.
As for iron ore, it is in talks with the Governments of
Orissa and Chhattisgarh for seeking the lease of iron
ore mines in these States. As metallurgical coal deposits
are few in the country, the company is looking at acquiring
coalmines overseas. It has been in talks with mines in
Canada, Russia, China and Australia. During
the first quarter of the current fiscal, it reported a
net profit of Rs 350 crore. Total sales stood at Rs 1,383
crore, up by 31 per cent from the previous year.
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Saudi
changes mobile access code
Thiruvananthapuram: Saudi Arabia has changed the
access code for mobile telephones in the country, according
to an official release. Henceforth, `0' must be added
at the end to '9665' — the code for mobile numbers
in Saudi Arabia, the release said.
Callers from India have to dial the ISD code for the country,
followed by '96650' and the number of the mobile telephone.
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Cognizant
Q2 revenues up 59 per cent
Chennai: Cognizant Technology Solutions Corporation
has reported increased revenue of $138.7 million during
the second quarter ended June 30 - a 59-per cent increase
over revenues from the corresponding quarter last year.
Net profit for the second quarter increased to $23.8 million
($13.50 million). Cognizant
has raised its revenue guidance for the second time during
this calendar year to at least $565 million for calendar
2004. The US-based firm has a strong offshore presence
in India, and its shares are listed on the Nasdaq.
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Sonata
Software Q1 net up
Bangalore: Sonata Software has reported a net profit
of Rs.4. 32 crore for the quarter ended June 30, an increase
of 45 per cent over the corresponding previous period.
The company recorded a consolidated revenue of Rs 78.83
crore during April-June 2004 compared to Rs 48.2 crore
earlier. The US accounted for 33 per cent of growth in
exports, Europe 66 per cent and the rest of the world
one per cent.
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Plumtree
opts for Satyam
Hyderabad: Satyam Computer Services has been chosen
by the Nasdaq-listed Enterprise Web leader, Plumtree Software,
as a premier Systems Integrator in India for deployment
of the Plumtree Enterprise Web Suite. Plumtree has also
announced its formal entry into the Indian marketplace.
Satyam
has over the past year successfully implemented the Plumtree
Enterprise Web Suite in Government entities both in Singapore
and Australia.
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NDTV
24x7 ties up for Africa
New Delhi: English news channel, NDTV 24x7 has
signed up with MultiChoice Africa (MCA), a pay television
platform that provides television entertainment to over
one million subscribers in over 50 countries in the African
continent and the adjacent Indian Ocean islands through
it DStv bouquet. Besides
NDTV, MultiChoice will carry both North and South Indian
content. It has two different bouquets for North and South
Indian channels and NDTV will be part of both these bouquets.
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