Plethico Pharmaceuticals Ltd on Monday said that it has joined hands with US retailing giant Walmart for supplying its nutritional products to US consumers.
Plethico Pharmaceuticals, through its wholly-owned subsidiary Natrol Inc, has entered into a supply contract with Walmart, under which the Indian firm would supply 10 new nutraceutical brands to the retailer, the company said in a filing to the Bombay Stock Exchange.
"As a key Natrol retail partner, Walmart recognises the importance... And has expanded its in-store offerings with a new grouping of ten Natrol brand nutraceuticals that address the health needs of adult women..." the filing said.
On Monday, Plethico Pharmaceuticals closed 0.4% up at Rs399 on the Bombay Stock Exchange, while the benchmark Sensex ended 1.1% up at 17774 points.
Pharmaceutical company Venus Remedies Ltd on Monday said that it has received patent for its anti-pneumonia drug in New Zealand and hopes to generate handsome revenues there following the grant.
The company has got a patent from Intellectual Property Office of New Zealand for its antibiotic Potentox, used in the treatment of pneumonia, Venus Remedies said in a statement to the Bombay Stock Exchange.
"Post registration in the New Zealand market, the company expects to generate handsome revenues from this product which will add growth in top line and bottom line of the company," it further said.
Potentox has already become a revenue generator and is contributing over Rs12 crore per annum to the total revenues of the company and is expected to grow at the rate of 30% to 40% annually, it added.
New Zealand is the fourth country after South Korea, India and South Africa from where Venus has got patent for Potentox, the drug maker said.
On Monday, Venus Remedies closed 1.5% higher at Rs268 on the Bombay Stock Exchange, while the benchmark Sensex ended 1.1% up at 17774 points.
Pantaloon Retail (India) Ltd on Monday said its promoters will infuse Rs400 crore in the company in lieu of convertible warrants issued to them.
The warrants would be issued to promoters' group company, Future Ideas Realtors India Ltd, Pantaloon Retail said in a filing to the Bombay Stock Exchange.
The shareholders of the company, at its meeting held today, approved allotment of one crore convertible warrants from "time to time" at Rs400 per share aggregating to Rs400 crore, it added.
The option to acquire equity shares could be exercised by the warrant holders at any time within 18 months from the date of allotment of warrants.
"Consent of the company be and is hereby accorded to the board to create, offer, issue and allot from time to time in one or more tranches, one crore warrants to the Future Ideas Realtors India Ltd," the filing said.
Pantaloon Retail added that each warrant will be convertible into one equity share of Rs2 each at the premium of Rs398. It, however, did not give details regarding reasons for infusion of the amount.
However, Future Group chief promoter Kishore Biyani had last year said that the company aims to be a Rs25,000 crore entity by 2013-14, up from around Rs10,000 crore last year. He had also said that the group aims to add 18 million sq ft of retail space by end of the period. Pantaloon Retail is the flagship company of Future Group.
Meanwhile, in a separate filing to the BSE, Pantaloon added that one of its stakeholders, Mauritius-based Nailsfield Ltd, has increased its stake in the retail firm to 8.17%, from 5.25%. Nailsfield has purchased 33.40 lakh shares of the company at a value of Rs 17.47 crore in an open market transaction.
On Monday, Pantaloon Retail shares closed 0.6% up at Rs422 on the Bombay Stock Exchange, while the benchmark Sensex ended 1.1% up at 17774 points.