Drug firm Glenmark Pharmaceuticals Ltd said it successfully completed phase-III trials of Crofelemer, its anti-diarrheal drug used for HIV associated diarrhea.
The completion of the Phase-III trial was announced in the US by Glenmark's partners Napo Pharmaceuticals and Salix Pharmaceuticals, the company said in a filing to the Bombay Stock Exchange (BSE).
The trials are being conducted under a fast track status and have been a part of 'special protocol assessment' (SPA) agreement, it added.
"The results from these pivotal Phase-III studies for Crofelemer in the treatment of HIV associated diarrhea are very encouraging for Glenmark, as this will accelerate our goal to provide patients' access to this drug across multiple diarrheal conditions," Glenmark managing director and chief executive Glenn Saldanha said.
On Monday, Glenmark shares gained 3.6% to Rs376 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% down at 20,852 points.
Retail asset finance provider, Magma Fincorp Ltd has tied up with Caterpillar India and its dealers Gmmco and TIPL. The tie up is for providing financial solutions to the customers of Caterpillar's entire range of construction and mining machines as a preferred financier in India.
Ashutosh Shukla, chief operating officer, Magma Fincorp said, "We are looking forward to a successful association with Caterpillar India and its dealers Gmmco and TIPL. The tie up will help our continuous effort to provide finance for a wider range of products to our customers and also help widen our customer base across the country."
Peter Tegg, managing director, Caterpillar Financial Services Asia, said "We are extremely excited about the tie up with Magma Fincorp as a preferred financier for our range of equipment. We believe this will help both companies to grow our respective businesses and help support the growth of India as a whole by providing more focus and enhanced service to the customer-base spread across the country."
During the two-day visit of the US president, while the lives of many reporters were on the fast track, the residents of south Mumbai were confined to their homes due to security arrangements. No wonder, they celebrated their ‘freedom’ after Barack Obama left the city
It may sound strange, but on Saturday and Sunday, lives of countless reporters as well as residents from south Mumbai were held 'hostage' by the establishment for making 'arrangements' for US president Barack Obama and Co. While our friends from the media were running from one place to another like there would be no news left for the next moment, the residents, particularly from Colaba (Mumbai's southern tip) were locked in their homes.
No wonder, when Mr President left for New Delhi on Sunday noon, the relieved reporters and Colaba residents started celebrating the festival of lights or Diwali.
This may sounds strange especially for a country which believes in Athithi Devo Bhava (one's guest is God), and may appear quite rude, but it's true. Many reporters gave vent to their 'relief' through blogs, social networks or SMS.
A reporter wrote: "Obama gone to Delhi.... Schedule back to normal.... Normal?? Who wants life to be normal anyway... Someone else... pls come to India!!!"
Similarly, another reporter was quite frank. He said: "President Obama has gone (to Delhi) & the Diwali festival for Mumbai journalists truly begins today. Last three days most of us were preoccupied chasing him. Although it spoiled our Diwali, it was a really interesting experience covering his Mumbai visit... Some incidents were funny 'n' ridiculous too... Will post on my blog soon."
The chase left many reporters tired throughout the day and night. After Mr Obama left the city, here is what a reporter said: "Ok breathing again... but feel as if my legs are a separate entity from the rest of my body. Tired, aching & foot massage calling!!"
During his visit to Mumbai, Mr Obama interacted with some college students as well. Here is what the students have to offer on Mr President. One said, "Obamalicious!!" Another replied, "But this (the interaction) was nothing short of disappointment, he (Mr Obama) dodged every question."
While students went gaga over the interaction, media members were fuming, not because they had to cover the event but because they were called early in the morning at the spot. One reporter, who opted out of the interactive event said, "You guys know how happy I am with Obama's visit. This takes the cake. All teams covering tomorrow's (Sunday) 10am event at St Xavier's College asked to come with their camera equipment at 5.00am!! RIDICULOUS....Wise was I to opt out of this all :)".
The US president and his wife visited Holy Name High School in Colaba, where Michelle Obama, the first lady, participated in a koli (fisherman) dance. Even Mr President shook a leg or two to the tune of a koli song.
Here is a reporter's take on the dancing event. "'Nach Baliye' (the TV dance show for couples)... must have been eying Mr & Ms Obama for their next season... Both danced very well to Indian tunes... specially Marathi koli geet," the reporter said.
The other one, however, was more worried about the mid-term elections in the US, where Mr Obama's Democratic Party faced a dramatic defeat. The reporter said, "Loved seeing Barack O's face when Michelle was dancing in Mumbai. But I think Barack (Obama) enjoyed the recent elections more than his time on the dance floor."
Although the Indian media is known to go overboard and turn any news item into a celebrity show, this time, maybe due to the security and TRP pressures, they did put up a good show.
Commenting on the Obama coverage, a journalist-turned-PR executive said, "I was watching Obama stories by you all, and could imagine the effort taken for them... Show goes on... Whether it's Diwali or Dussehra... but watching from outside was fun..."
As far as the residents of south Mumbai are concerned, they also heaved a sigh of relief after the visit got over. They came out of their homes and danced and lighted crackers in order to commence their (freedom?) Diwali celebrations.
Finally, here are some questions that many reporters had in their minds - but could not ask Mr Obama...
1) Mr President, how does America view the changing political landscape in Kalyan Dombivili Municipal Corporation?
2) Is it true that Michelle Obama has been allotted a flat in Adarsh Society?
3) Is it true that your arrival was delayed by an hour because Air Force One kept circling over (the proposed) Navi Mumbai airport before realising the folly?
4) Did Praful Patel (civil aviation minister) personally frisk you as he was frisked in the US?
5) Mr President, is it true that Rajnikanth refused to meet you as he is busy with his next movie, "Robot...the President"?