Glenmark completes phase I trials for new molecule

Glenmark has now planned to initiate phase II studies in pain indications

Glenmark Pharmaceuticals said its molecule, which intends to target pain and respiratory disorders, has completed first phase trials in the Netherlands.

The company said its novel chemical entity (NCE)—GRC 17,536—has completed phase I trials (single ascending dose and multiple ascending dose) in the Netherlands, Glenmark Pharma said in a statement.

The overall exposures achieved in humans compares favourably with the exposure required for maximum efficacy in the animal models, which suits entry into further clinical development, it added. Commenting on the development Glenmark Pharmaceuticals chairman and MD Glenn Saldanha said: "This is another potential first-in-class molecule indicated for both pain and respiratory conditions. There is a huge unmet medical need in both therapeutic areas globally."

GRC 17536 is a global first-in-class programme targeting the TRPA1 receptor antagonists for pain and respiratory disorders, the company said.

TRPA1 belongs to Transient Receptor Potential (TRP) family of ion channels, which have generated a lot of interest as pain targets due to their distinguishing role in peripheral and/or central pain signal transmission, it added.

"Glenmark has now planned to initiate phase II studies in pain indications. The company has filed regulatory submissions with the MHRA, UK, and BfArM, Germany, to initiate Phase 2 a proof-of-concept study in patients with painful diabetic peripheral neuropathy," it said.

Subject to regulatory approvals, the projected start of the study is March 2012, it said. Also, GRC 17536 would be tested via the inhaled route for use in the respiratory indications.

In the late afternoon, Glenmark was trading at around Rs300 per share on the Bombay Stock Exchange, 0.28% up from the previous close.

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Lanco Infra consolidated Q3 net down 63% to Rs 61 cr

Lanco Infra had clocked Rs 164.02 crore net profit in the October-December quarter of last fiscal

Lanco Infratrech today reported nearly 63% dip in consolidated net profit for the quarter ended December 31, 2011, at Rs 60.92 crore on higher outgo on raw material and interest expenses.

The company had clocked Rs 164.02 crore net profit in the October-December quarter of last fiscal, it said in a filing to the BSE.

Gross operating revenue of the company, however, grew to Rs 4,596 crore during the reporting quarter against Rs 2,910 crore a year ago.

Lanco Infratech consumed raw material Rs 1,985 crore in the quarter compared to Rs 738 crore in the same quarter last fiscal.

Interest outgo of the company also went up to Rs 268.24 crore during the quarter vis-a-vis Rs 189 crore during the October-December quarter last fiscal.

Lanco Infratech generates around 95% of its gross revenue from EPC and power businesses. It has also interests in solar power, natural resources, infrastructure and property development.

In the late afternoon, Lanco Infratech was trading at around Rs18 per share on the Bombay Stock Exchange, 16.77% up from the previous close.

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Oil minister rules out deregulation of diesel prices

“Deregulation of diesel in its entirety is a very difficult proposition but at appropriate time we may look at reducing subsidy on diesel. But that time hasn’t come,” oil minister S Jaipal Reddy told reporters

Gurgaon: Oil minister S Jaipal Reddy on Tuesday ruled out deregulation of diesel prices and said he had demanded that the government compensate state-owned oil firms for the losses they made on not raising prices of petrol, reports PTI.

“Deregulation of diesel in its entirety is a very difficult proposition but at appropriate time we may look at reducing subsidy on diesel. But that time hasn’t come,” he told reporters here.

State-owned oil companies will need to raise diesel price by Rs11.35 per litre if the government was to free its pricing like it was done in case of petrol in June 2010.

Even petrol rates have not moved in tandem with cost since its deregulation and state-owned oil firms have refrained from raising rates since December in view of assembly elections in five crucial states like North Indian state of Uttar Pradesh. Oil firms currently lose Rs3-Rs3.20 a litre on the fuel.

Mr Reddy firmly said there was no proposal at the moment to raise diesel rates.

He, however, supported oil companies’ demand for being compensated for revenue losses incurred on selling petrol below imported cost.

“We have taken the issue up with the finance ministry. We want the finance ministry to provide for losses incurred on petrol as well,” he said.

Currently the government makes good only the losses incurred on diesel, domestic LPG and kerosene.

On Monday, Indian Oil Corporation (IOC) chairman RS Butola had stated that his company had lost about Rs443 crore since the last revision in petrol price on 1st December.

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COMMENTS

rajiv

5 years ago

You can not trust minister of this govt.How many times we seen different statement on BHEL n ONGC divestment?

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