Sun Pharmaceutical Industries Ltd said it received an abbreviated new drug application (ANDA) approval from the US Food and Drug Administration (USFDA) to market a generic version of Optivar, azelastine ophthalmic solution, 0.05%, in the US.
This sterile azelastine hydrochloride ophthalmic solution is therapeutically equivalent to Optivar Ophthalmic Solution 0.05% from Medpointe Pharmaceuticals and has annual sales of about $50 million in the US.
Azelastine is used for the treatment of the itching of the eyes associated with allergic conjunctivitis.
On Tuesday, Sun Pharma shares ended 0.3% up at Rs1,758 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% down at 17,749 points.
Piramal Healthcare Ltd said it signed a definitive agreement to acquire Canada-based medical devices company BioSyntech's assets for about C$3.9 million.
BioSyntech is a medical device company specialising in the development, manufacturing and commercialisation of advanced biotherapeutic thermogels for regenerative medicine (tissue repair) and therapeutic delivery.
On Tuesday, Piramal Healthcare shares ended 0.4% up at Rs491 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% down at 17,749 points.
Larsen & Toubro Ltd (L&T) said its thermal power plant construction (TPPC) business unit has secured two orders of about Rs827 crore.
The first order from GVK Power, worth Rs602 crore, is for the total construction of plant items for the Gautami stage II combined cycle power plant (CCPP) in Andhra Pradesh. L&T is in consortium with Hyundai for this work. The second order from SEPCO-I, valued at Rs225 crore, is for the civil works for the Talwandi Sabo power plant in Punjab.
On Tuesday, L&T shares ended 0.8% down at Rs1,821 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% down at 17,749 points.