Lupin gets USFDA nod for generic cholesterol drug

Lupin has got the approval to sell 48 mg and 145 mg of generic Fenofibrate tablets in the American market.

The US health regulator has granted approval to Lupin to market generic Fenofibrate Tablets, a cholesterol lowering drug, in the American market.
According to information on the US Food and Drug Administration (USFDA) website, Lupin has got the approval to sell 48 mg and 145 mg of generic Fenofibrate tablets in the American market. However, the company did not comment on the issue and the possible launch date of the product.

According to Morgan Stanley Research, Abbott, the innovator of the drug, had filed patent litigations against seven firms, out of which five including those against Lupin and Teva have been settled. Abbott sells the drug under Tricor brand.

As per the report Lupin could launch its generic version as early as July next year.

"We have assumed December, 2012 (181st day) launch for Lupin, which may now potentially be earlier [July, 2012] in light of possible forfeiture of Teva's exclusivity. This would translate into earlier and greater upside for Lupin from this product in 2012," Morgan Stanley Research said in a report.

Teva, which had the exclusive marketing rights for the generic drug, had said its version of Tricor 145 mg ($1.2 billion brand sales) will not be approved by USFDA in 2012, the report said.

Under the provisions of its settlement with Abbott, Teva was expected to launch it in either March, 2011 or July, 2012 under certain circumstances.

"We have assumed this to be a $50 million annual sales opportunity for Lupin [starting December 2012], assuming 80% price erosion and 20% market share, which may turn out to be conservative," Morgan Stanley said.

In the late afternoon, Lupin was trading at around Rs444 per share on the Bombay Stock Exchange, 0.95% up from the previous close.

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ONGC plans urea plant in Tripura

“A survey for setting up a urea plant is going on. Based on gas availability in Thobal plant in North Tripura district and if feasibility is found positive, the plant would be set up:” Sudhir Vasudeva, CMD, ONGC

State-owned Oil and Natural Gas Corporation (ONGC) on Thursday said they were planning to set up hydrocarbon-based urea fertiliser plant in Tripura after completion of Rs 3,950 crore power project at Palatana in South Tripura district.

The company's chairman-cum-managing director, Mr Sudhir Vasudeva, said, “A survey for setting up a urea plant is going on. Based on gas availability in Thobal plant in North Tripura district and if feasibility is found positive, the plant would be set up.”

Mr Vasudeva, who is visiting the State, met the Chief Minister, Mr Manik Sarkar, and state Power Minister, Mr Manik Dey. He said two months ago Mr Sarkar requested ONGC to set up urea plant on the basis of which the survey was started.

The gas-based thermal project at Palatana would start generation by May next year, he said, adding that in the first phase 363.3 MW would be generated by May 2012 and three months later another 363.3 MW would be generated.

Mr Vasudeva, who led the ONGC team in a spot visit programme, inspected several units of the gas-based project and reviewed the ongoing work status.
In the late afternoon, ONGC was trading at around Rs262.25 per share on the Bombay Stock Exchange, 1.46% up from the previous close.

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Cyclone Thane leaves six dead in TN and Puducherry

Cuddalore district in Tamil Nadu was the most affected, with damaged roads rendering it difficult for rescue teams including those from National Disaster Response Force and Fire and Rescue Services to reach the cyclone hit fishing hamlets

Chennai: The very severe cyclonic storm, ‘Thane’, today crossed the Tamil Nadu coast, leaving six persons dead and causing extensive damage to Cuddalore and the neighbouring Union Territory of Puducherry which remained cut-off from the nearby districts of the state, reports PTI.

Five persons died in Cuddalore in incidents of wall collapse and electrocution, officials said. A 45-year old man of Vanarampet village in Puducherry died in house collapse.

Train services from southern Tamil Nadu were hit as many of them ran late or were stopped in the nearby station while flights to international destinations by private carriers including to Kuwait and Malaysia from Chennai were cancelled.

Puducherry district collector SB Deepak Kumar told PTI that rescue operations were in full swing in the Union Territory. Uprooted trees were being removed from the roads.

The regional weather office here said, “The very severe cyclonic storm ‘Thane’ over southwest Bay of Bengal moved further westward and crossed north Tamil Nadu coast between Cuddalore and Puducherry between 6.30 and 7.30am today.”

It had now weakened into a severe cyclonic storm and lay about 30km west of Cuddalore and 35 km southwest of Puducherry, it said, adding wind speeds of up to 140 kph was recorded during this period.

“Under the influence of this system, rainfall at most places with heavy to very heavy falls at a few places would occur over north coastal Tamil Nadu and Puducherry during next 12 hours and over north interior Tamil Nadu during next 24 hours,” a weather bulletin said.

Further, isolated heavy to very heavy rainfall would occur over south coastal Andhra Pradesh during next 12 hours and over Rayalseema, north Kerala and south Karnataka during the next 24 hours.

Cuddalore district in Tamil Nadu was the most affected, with damaged roads rendering it difficult for rescue teams including those from National Disaster Response Force and Fire and Rescue Services to reach the cyclone hit fishing hamlets.

District collector Amuthavalli said even as communication lines remained affected, over 5000 houses of fishermen had been damaged.

An official said around 400 trees had been uprooted on the Cuddalore-Chidambaram road, resulting in suspension of vehicular movement.

Power production at Neyveli Lignite Corporation was affected as the mines were submerged.

Puducherry was cut off from the neighbouring districts of Villupuram and Cuddalore in Tamil Nadu as several trees fell on the roads due to the impact of gale, official sources said.

Bus services between Puducherry and Tamil Nadu and other distant pockets were suspended due to disruption of traffic.

Power supply was suspended since last night as a precautionary measure.

At Chennai, the City Corporation moved more than 2,700 persons to safer areas and had made all arrangements for providing food.

Around 50 trees had been uprooted following the overnight squally winds, but no casualty or injury was reported, the civic agency said in a release.

Meanwhile, high wind speed, reaching up to 90-100 kmph and gusting to 110 kmph was likely along and off north Tamil Nadu and Puducherry coasts and adjoining areas of north interior Tamil Nadu during next few hours and then decrease gradually, the weather office said.

Sea condition was very high along and off north Tamil Nadu, Puducherry and adjoining south Andhra Pradesh coasts and fishermen were not asked to venture into the sea.

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