Venus Remedies gets MHRA approval for anti-cancer drug

Venus Remedies stands amongst the first few to receive the market authorisation for Gemcitabine

Pharma company, Venus Remedies Ltd has received authorisation from Medicine and Healthcare Regulatory Agency (MHRA), UK to sell Gemcitabine, one of the key products for the treatment of cancer.

Pawan Chaudhary, CMD, Venus Remedies, said, "Venus is all set to capture substantial market share by entering the highly lucrative market of Europe as it stands amongst the first few to receive the market authorisation for Gemcitabine." Gemcitabine is a $1.5 billion drug world wide with more than 30% market share from Europe. Gemcitabine is used in the treatment of a variety of cancerous diseases including the cancer of lungs, pancreas, bladder and breast. The product is available in the strength of 200mg and 1000mg. Both strengths of Venus dossier have been approved by UK MHRA authorities.

Venus will produce Gemcitabine from its Baddi facility in India and planned to launch the product in UK and Germany along with other EU countries by second quarter of 2011.

On Wednesday, Venus Remedies ended 3.22% up at Rs223 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.38% to 18,090.62 points.

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Q3FY11 analysis: Lupin, ONGC

Lupin’s results were a tad disappointing; ONGC was in line—realisations are improving, but limited by the subsidy burden

LUPIN

  • Net sales were at the lower end of expectations and net profit at the higher end.
     
  • Staff costs and other expenditure rose sharply. However, other income and a lower tax rate helped net profit growth.
     
  • Export formulations to unregulated markets were up 31% at Rs1.1 billion.
     
  • The company has filed five abbreviated new drug applications during the quarter and remains one of the largest filers from India. It also has one of biggest pending ANDA pipelines among Indian pharma companies.

Lupin Q3 FY11 Result Highlights

(Rs million)

Dec 09

Sept 10

Dec 10

Net sales

12,554

 14,050

 14,672

Net profit

2,152

 2,478

 2,516

 Lupin’s share has been falling over the last month or so.

 ONGC

  • Both net profit and net sales were higher than expected.
     
  • Natural gas sales were up nicely due to upward revision in APM gas prices.
     
  • Subsidy burden was up 21%.
     
  • Since dry well write-offs and survey expenses were lower this quarter, chances are they will be higher next quarter.
     
  • A sharp rise in subsidy burden limited the rise in realisations.
     
  • Domestic crude volumes were up after declining for 10 out of 12 quarters.

ONGC Q3 FY11 Result Highlights

(Rs million)

Dec 09

Sept 10

Dec 10

Net sales

155,061

184,303

189,062

Net profit

30,536

 53,888

70,832

 ONGC’s share price has been falling over the last three months but is seen to be picking up of late.

This article is based on secondary research. The report is for information only. None of the stock information, data and company information presented herein constitutes a recommendation or solicitation of any offer to buy or sell any securities. Investors must do their own research and due diligence before acting on any security. Some of the opinions expressed in this article are the author's own and may not necessarily represent those of Moneylife

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LIC unveils new variable insurance plans

LIC launches Bima Account I and Bima Account II

LIC has launched two non linked plans Bima Account I and Bima Account II. These are the first variable insurance plans under the new IRDA regime. The basic structure of the two plans are same and hence the similar names. The plans have guaranteed minimum returns. In Bima Account I there is no medical examination!

Under the plans, the premiums paid by the customer, after deduction of charges, will be credited to the policy holder's account maintained separately for each policyholder. If all due premiums are paid, the amount held in the policyholder's account will earn an annual interest rate of 6% per annum which will be guaranteed for the whole of the policy term. In addition to this guaranteed return, if all due premiums are paid, the individual policyholder's account may earn an additional return depending upon the experience under the plan.

If premiums are not paid within days of grace, the policy will become a paid up policy. The life assured has the option to revive the paid-up policy within 12 months from date of first unpaid premium. During the revival period the life cover will cease and no mortality charges shall be deducted. The balance in the policyholder's Account during the period of revival will earn guaranteed interest rate of 5% per annum without debiting any expenses. On revival of policy, the guaranteed rate of interest on policyholder's account will again be 6% per annum from the date of revival.

There is an option to pay additional (top up) premiums without any increase in risk cover to the extent of total basic premiums paid under the policy. Loan facility is available immediately after the first policy anniversary.

The premiums can be paid regularly at yearly, half-yearly, quarterly or monthly (through ECS mode only) intervals over the term of the policy.

The age entry for the Bima Account I is from 11 years to 50 years while it is from 8 years to 60 years for Bima Account II. The policy term for Bima Account I ranges from 5 to 7 years, while it ranges from 10 to 15 years for Bima Account II.

The minimum premium is Rs600 per month under ECS mode for Bima Account I. while it is Rs1,250 under Bima Account II.

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COMMENTS

kulveer

6 years ago

i like it................

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