The new issue closes on 27th February
ICICI Prudential Mutual Fund has launched ICICI Prudential Capital Protection Oriented Fund II-Series VII-24 Months, a close-ended income scheme.
The investment objective of the scheme is to seek to protect capital by investing a portion of the portfolio in good quality debt securities & money market instruments and also to provide capital appreciation by investing the balance in equity and equity related securities. The securities would mature on or before the maturity of the Plan under the scheme.
The new issue closes on 27th February. The minimum investment amount is Rs 5000.
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.
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.