ICICI Securities, Oppenheimer sign MoU for business in US & India

ICICI Securities and Oppenheimer will provide a wide range of securities activities

ICICI Securities Ltd and Oppenheimer & Co Inc said that they have signed a memorandum of understanding (MoU) to form a strategic alliance to cooperate on business opportunities in the United States and India.

The alliance covers a wide range of securities activities, including equity and debt capital markets services, advisory services, private equity transactions, and wealth management.

The opportunities to be explored jointly through the alliance include the introduction of Indian companies into the US securities market; the US distribution of Indian offerings and placements; cross border advisory and offering the private clients of Oppenheimer and ICICI Securities, equity and wealth management products in India and the US.

Recently ICICI Securities announced an alliance with Collins Stewart Hawkpoint, one of the leading independent financial advisory groups based in the UK, to promote core markets.

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Lupin forays into US oral contraceptive market

Lupin Pharmaceuticals Inc has received the nod from USFDA to market generic norethindrone tablets

Drug maker Lupin said it had received the final approval from the US health regulator to market generic version of Watson's Nor-QD tablets, an oral contraceptive, in the American market.

The company's US-based subsidiary, Lupin Pharmaceuticals Inc, has received the nod from US Food and Drug Administration (USFDA) to market generic norethindrone tablets in the strength of 0.35mg, Lupin said in a statement.

Lupin group president and executive director Nilesh Gupta said: "This ANDA approval from the USFDA marks Lupin's foray into the US oral contraceptive market. We look forward to several more approvals and launches in the quarters and years to come.

NOR-QD (norethindrone tablets, USP 0.35mg) is a progestin-only oral contraceptive indicated for the prevention of pregnancy, the company said. "Lupin will commence shipping its norethindrone tablets, USP 0.35 mg shortly," it added.

According to IMS Health sales data for 12 months ended June 2011, the combined annual sales for NOR-QD and its generic equivalents were around $52 million.

On Wednesday, Lupin ended 0.80% up at Rs486.45 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.2% to 17,065.15.

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Kale to provide billing services to South American airline

The Revera system would enable LAN to comply with the International Air Transport Association's Simplified Interline Settlement and improve its billing accuracy

Tourism services provider Kale Consultants said that South American airline LAN has selected the company for processing passenger billings. In a filing to the BSE, Kale said that its Revera Interline Service will process passenger billings for LAN.

"We are happy to have LAN as our customer. This engagement is another milestone in our relationship with the airline," said Neela Bhattacharjee, head (airlines), Kale Consultants. The company further said that the Revera system would enable LAN to instantly comply with the International Air Transport Association's (IATA's) Simplified Interline Settlement and improve its billing accuracy. It would also strengthen the cash flows of the airline, the company added.

On Wednesday, Kale ended 5.48% up at Rs90.50 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.2% to 17,065.15.

 

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