Lincoln Pharmaceuticals introduces cure for tinnitus

Lincoln Pharmaceuticals is the first company in India to introduce a cure for tinnitus as Tinnex injection using Caroverine. The Caroverine injection was developed under research and development collaboration with Phafag AG, Switzerland

Lincoln Pharmaceuticals (LPL) has entered into an agreement with Phafag AG, Switzerland, for its Caroverine molecule for the treatment of tinnitus, commonly known as ‘ringing in the ear’. In chronic cases, the inner hair cells get damaged causing continuous depression, anxiety and insomnia in patients. Millions of people around the world suffer from tinnitus.

LPL is the first company in India to introduce a cure for tinnitus as Tinnex injection using Caroverine. Tinnex injection is a slow intravenous infusion. The dosage differs from patient and depends on the severity. The Caroverine injection was developed under research and development collaboration with Phafag AG, Switzerland.

Mahendra G Patel, MD, LPL, said: “With the amount of people suffering from tinnitus, it was very sad that no effort was being made to alleviate the discomfort and pain caused to patients. Now with the Tinnex injection being readily available, it is certainly going to be a boon for many. We at LPL are very happy to be a part of the solution.’

In the late afternoon, Lincoln Pharmaceuticals was trading at around Rs29.50 per share on the Bombay Stock Exchange, 7.66% up from the previous close.

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5 years ago

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Suzlon Group wins 150 MW order in Oklahoma, USA

The order includes 73 MM92 wind turbines with hot climate option. Delivery and installation is scheduled for the second half of 2012

Suzlon Group subsidiary, Repower Systems SE, has concluded a contract with a US wind power developer for the delivery of 73 wind turbines. The REpower MM92 turbines with an overall power output of 150 MW, are destined for a project in Oklahoma, located in the south-central region of the USA.

The wind turbines each have a rated output of 2.05 MW, a rotor diameter of 92 metres and a hub height of 80 metres. Due to the climatic conditions the turbines are equipped with the hot climate option, which eases operation during the dry, hot summer months. The delivery and initial operation of the turbines is planned for the third and fourth quarters of 2012.

Tulsi Tanti, chairman Suzlon Group, said: “This order once again underscores our strong competitive positioning as a group in the US market. With our comprehensive product portfolio, extensive service capabilities and a robust track record, we are well positioned to grab opportunities in the high growth expected in the US market in 2012.”

In the early afternoon, Suzlon Energy was trading at around Rs20.70 per share on the Bombay Stock Exchange, 0.98% up from the previous close.

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Food inflation in negative zone for second consecutive week

The fall in the rate of price rise of food items since the first week of November is substantial, as it has plummeted from double-digit territory into the negative zone

New Delhi: Food prices fell for the second consecutive week as food inflation remained in the negative zone at (-)2.90% for the week ended 31 December 2011 compared to (-)3.36% in the previous week, reports PTI.

Food inflation, as measured by the Wholesale Price Index (WPI), was above 19% in the corresponding week of 2010.

According to data released Thursday, onions became cheaper by 74.77% year-on-year during the week under review, while potato prices were down by 31.97%.

Prices of wheat also fell by 3.35%.

Overall, vegetables became 49.03% cheaper during the week ended 31st December.

The fall in the rate of price rise of food items since the first week of November is substantial, as it has plummeted from double-digit territory into the negative zone.

Experts feel that the decline in food inflation will be a major incentive for the Reserve Bank of India (RBI) to look at the option of cuts in key interest rates at its next quarterly monetary policy review later this month.

However, other food products became more expensive on an annual basis, led by protein-based items.

Pulses were 14.72% costlier during the week under review, while milk grew dearer by 10.79%. Eggs, meat and fish prices were up 15.22% year-on-year.

Fruits also became 9% more expensive on an annual basis, while cereal prices were up 2.03%.

Inflation in the overall primary articles category stood at 0.51% during the week ended 31st December, as against 0.10% in the previous week. Primary articles have a weightage of over 20% in the wholesale price index.

Inflation in the non-food segment, which includes fibres and oilseeds, was recorded at 1.29% during the week under review, as against 0.85% in the week ended 24 December 2011.

Fuel and power inflation stood at 14.45% during the week ended 31st December, as against 14.60% in the previous week.

Headline inflation, which also factors in manufactured items, has been above the 9% mark since December 2010. It stood at 9.11% in November 2011.

The RBI has hiked interest rates 13 times since March 2010 to tame demand and curb inflation.

In its second quarterly review of the monetary policy last month, the central bank had said it expects inflation to remain elevated till December on account of the demand-supply mismatch before moderating to 7% by March 2012.

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