Sun Pharma launches generic Exelon in US

Sun Pharmaceutical Industries Ltd said it launched its generic of Exelon, rivastigmine tartrate capsules for the US market. Earlier, the United States Food and Drug Administration (USFDA) had granted it a final abbreviated new drug application (ANDA) approval to market the product.

Rivastigmine tartrate used for the treatment of mild to moderate dementia of the Alzheimer's type and for the treatment of mild to moderate dementia associated with Parkinson’s disease.

On Friday, Sun Pharma shares closed flat at Rs1,754 on the Bombay Stock Exchange, while the Sensex ended at 0.28% down at 17,460 points.

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HSBC to acquire RBS's India business worth $1.8 billion

HSBC expects to complete the acquisition through its Indian subsidiary by the first half of 2011. RBS’s retail and commercial banking businesses in India currently have 1.1 million customers served by over 1,800 staff through 31 branches

The Hongkong and Shanghai Banking Corporation (HSBC) today announced it will acquire the Indian business of Royal Bank of Scotland (RBS) worth $1.8 billion, a move that will help the British giant gain greater exposure in the country, reports PTI.

RBS’ retail and commercial banking businesses in India currently have 1.1 million customer relationships served by over 1,800 staff through 31 branches.

HSBC expects to complete the acquisition through its Indian subsidiary by the first half of 2011.

"The total consideration will comprise a premium of up to $95 million over the tangible net asset value of the businesses being acquired at the closing of the transaction, less an adjustment equal to 90% of any credit losses incurred on the unsecured lending portfolio in the two years subsequent to deal completion," HSBC said in a statement in New Delhi.

This is the third major transaction for HSBC in India. In June 2008, HSBC entered into a joint venture insurance company with Canara Bank and Oriental Bank of Commerce, gaining access to a distribution network of 5,000 branches and 50 million customers. In September of the same year, HSBC acquired IL&FS Investsmart, now HSBC InvestDirect, a major retail brokerage with more than 130,000 customers and outlets across 52 cities.

HSBC Group chief executive and chairman of The Hongkong and Shanghai Banking Corporation Limited, said: "The main focus of our strategy is on emerging markets and this acquisition is our third transaction in one of the world's largest and fastest growing developing markets in the last two years."

India was the second fastest growing economy in the world by gross domestic product (GDP) last year and is set for another strong year with forecast GDP growth of 8.5% in 2010. According to the International Monetary Fund (IMF), it is expected to be the world's third largest economy, based on purchasing power parity, by 2012.

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Reliance DigiCom: Start of major changes in the cable industry?

RCom's acquisition of Digicable marks a significant step in India's scattered cable TV industry and signals the beginning of large-scale corporatisation as well as consolidation in the industry

Reliance Communications Ltd (RCom) has bought cable TV service provider Digicable to create Reliance DigiCom, that would integrate RCom's direct-to-home, Internet protocol TV (IPTV) and retain broadband operations with Digicable. According to analysts, this marks a significant step in India's scattered cable TV industry and signals the beginning of large-scale corporatisation as well as consolidation in the industry.

"Entry of large corporates and TRAI recommendation on increase in foreign direct investment (FDI) for multi-services operators (MSOs) going for digitisation would be incrementally positive for the sector as global distribution players start to relook at their Indian strategy," said IDFC Securities Ltd in a research note.

Digicable, set up by industry veteran Jagjit Singh Kolhi, has dominance in Punjab and a relevant presence in Rajasthan, Madhya Pradesh, Chhattisgarh, Maharashtra, Andhra Pradesh and West Bengal and has operations in Uttar Pradesh, Delhi, Haryana and Uttarakhand. Digicable has established infrastructure in these States with 73 analogue and about 30 digital head-ends, which is more than any other player in the cable industry. It also has over 28,000km of fibre network in place. 

Commenting on the deal, Anil Ambani, chairman, RCom said, "With this game-changing move, we hope to lead the next revolution in digital home entertainment in India, by offering a world-class TV experience and ultra high-speed broadband capability to a billion people. The new company, Reliance DigiCom, will fuel our '4-screen strategy' to own mobile, cinema, TV and computer screens, that are rapidly becoming an integral part of our customers' daily lives, leading to world-class convergence of information, communication and entertainment solutions and services."

As per a study known as 'TAM Annual Universe Update-2010', done by Television Audience Measurement Group, TAM, along with its parent companies-AC Nielsen and Kantar Media Research/IMRB-the estimated total number of TV households in India is about 13.5 crore, out of which 80% of TV households in India now have a cable and satellite (C&S) connection.

However, the Indian cable industry has been characterised by fragmentation, dominance of unorganised players, poor yields and huge under-reporting. Despite being the world's second largest C&S home market in the world, the industry earns a total revenue of $4.8 billion (about Rs21,600 crore). In contrast, Comcast, the world's largest cable operator, generates revenues of $33 billion (about Rs1.5 lakh crore) from its just 2.4 crore subscribers. The average revenue per user (ARPU) in India is also less than Rs200 compared with Rs3,000 to Rs3,600 in the US and UK and Rs675 to Rs900 in Asian markets.

More importantly, with TV distribution dominated by analogue and addressability a concern on the cable platform, about 80% of the collection at the consumer end goes unreported in the hands of the unorganised last-mile operators.

According to reports, currently, there are over 7,000 MSOs and more than 50,000 last-mile operators or local cable operators (LCOs) in the TV cable industry. In addition, digitisation has been a failure so far with digital cable reaching just 40 lakh homes, as of date. The top five players in India account for less than 30% of the paying subscriber base, while the DTH industry has six players in the race, as against a monopoly or duopoly in the rest of the world.

The IDFC report says that as per current estimates, it is building in $1.5 billion being spent by the cable industry over the next five years in digitising 3.8 crore incremental cable homes. "Our belief is that that incremental capital would largely go into digitisation, entry of Reliance ADAG can further speed up the pace of digitisation. It will also ensure increased capital infusion in the sector, which is competing with the heavily-funded DTH industry," the report said.

While funded DTH players have invested Rs11,000 crore so far, cable players too are now equipped to seed set-top-boxes (STBs) after the recent fund raise and would look to lock in customers given the threat from DTH. Digicable has so far spent $140 million, invested by Ashmore, a London-based private equity fund, to acquire 80 lakh customer touch-points and has been scouting for capital to seed STBs and thereby secure its existing subscriber base.

"We also expect Reliance ADAG, besides DEN Networks and Hathway, to consolidate the market, as smaller LCOs and MSOs find it difficult to compete on the digital platform. Also entry of a large corporate can also result in favourable changes in the regulatory framework and likelihood of mandated digital rollout," the IDFC report added.

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COMMENTS

Raj Das

1 month ago

i am a cable operator. iwant to take reliancce cable t.v and broadband signal

Kewal Krishan

5 years ago

Hello sir i am play holder of a --- net work what will be the Future of playholder after launching of digicom in H.P

mahesh patil

5 years ago

i am cable operator in navi mumai a digicable. when start a reliance digicom

Mohd Ashraf Khan

6 years ago

Sir, I am a cable t.v. operator at Aligarh and wants to join your reputed network. kindly help me.

Mohd Ashraf Khan

6 years ago

Sir, I am a cable t.v. operator at Aligarh and wants to join your reputed network. kindly advice me.

hakim modi

6 years ago

plz anyone conferm me ki reliancedigicom rajasthan me keb launch hogi plz...................reply me .............

amar makhija

6 years ago

i was working with ur company dg cable as a distributor but there was no proper
support from ur company in any manner.

hakim modi

6 years ago

plz provide me ur channel list...........

shiv kumar

6 years ago

i am shiv kumar .i am cable operator in punjab amritsar. now your company has attactch with digi cable in cable industry. i want join ur company,
before joining i want learn technical techique from ur company in cable industry. have u any training institute , who can i learn ur industrial training ?

SUNNY

6 years ago

Hi Its VERY GOOD SERVICE

p k gupta

6 years ago

sir
i m p k gupta from agra.n i m working in channel one news as a reporter.sir i want to join reliance digi com in agra.how 2 join u.

hemanta kr kalita

6 years ago

i want to know about distrubitorship of reliance digi cable t.v., i am a cable operator from last 20 years in guwahati,assam. i am interested to doing business with you
regards, hemanta kr kalita


raj

6 years ago

r digi com.if it is on fullpledged operators are gone.no lcos .local operators khatham.

sachin patil

6 years ago

i want know about dealership of reliance cable tv.i am cable oprator in navi mumbai area.

hakim modi

6 years ago

sir i m an cable oprator i want joining ur service so what r ur terms and conditions how many channels u r telecasting ..& how many rs. give u per subscriber...plz reply me .. my cable under rajasthan zone. jodhpur city.............

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