Sun Pharma received approval from the USFDA for its generic Azelastine HCL nasal spray
New Delhi: Sun Pharmaceutical Industries on Thursday said it has received approval from the US health regulator to sell its generic version of Astelin, used in treating nasal allergies, in the American market, reports PTI.
The company has received approval from the US Food and Drug Administration (USFDA) for its generic Azelastine HCL nasal spray, which is therapeutically equivalent to Medpointe Pharm HLC's Astelin nasal spray, Sun Pharma said in a statement.
Sun Pharma has received approval for its product in the strength of 0.1% (137 mcg/spray), it added.
According to the company estimates, Azelastine HCL nasal spray has annual sales of around $144 million in the US.
The drug is indicated for the treatment of the symptoms of seasonal allergic rhinitis such as rhinorrhea, sneezing and nasal pruritus.
It is also used for treating symptoms of vasomotor rhinitis, such as rhinorrhea, nasal congestion and postnasal drip in adults.
Shares of Sun Pharma were trading at Rs565.10 on the BSE in afternoon trade, down 1.1% from its previous close.
The government increased interest rates on Special Deposit Scheme and State Provident Funds for FY13 to 8.8% from 8.6%
New Delhi: The Indian government has increased interest rates on Special Deposit Scheme (SDS) and State Provident Funds for the year 2012-13 to 8.8% from 8.6% currently.
The new rate will be applicable from April, 1, 2012, an official statement said.
"Government has revised the interest rates for the financial year 2012-13 in respect of State Provident Funds and Special Deposit Schemes (SDS) for non-government provident, superannuation and gratuity funds from 8.6% to 8.8%t with effect from 1 April 2012", it said.
SDS is a scheme in which the non-government provident funds like Employees' Provident Fund Organisation (EPFO) invest. At present, EPFO funds to the tune of Rs55,000 crore are parked in the SDS.
The government has also hiked the interest rate on General Provident Fund from 8.6% to 8.8%.
The revised interest rate on government provident funds will benefit the subscribers of General Provident Fund (Central Services), Contributory Provident Fund (India), All India Services Provident Fund, State Railway Provident Fund and General Provident Fund (Defence Services).
Among others, Indian Ordnance Department Provident Fund, Indian Ordnance Factories Workmen's Provident Fund, Indian Naval Dockyard Workmen's Provident Fund, Defence Services Officers Provident Fund, and Defence Services Officers Provident Fund will also be getting 0.2% more interest, the statement said.
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