Wockhardt gets tentative approval from USFDA for Aricept tablets‎

Wockhardt has received tentative approval from the US health regulator to sell a generic copy of Aricept tablets, used in the treatment of Alzheimer’s disease and dementia

Pharmaceutical and biotech firm Wockhardt Ltd said it has received tentative approval from the US health regulator to sell a generic copy of Aricept tablets, used in the treatment of Alzheimer's disease and dementia.

The tentative approval by the US Food & Drug Administration (USFDA) is for marketing of Donepezil HCl tablets in 5 mg and 10 mg strengths, which is used for the treatment of Alzheimer's disease and dementia, the company said in a statement.

Donepezil is the generic name for the brand Aricept, marketed in the US by Eisai in partnership with Pfizer.

"Wockhardt will be launching the product in the US market on May 28, 2011," it said.

Citing IMS Health, the company said the total market for this product in the US is about $2.5 billion.

Commenting on the approval, Wockhardt Chairman, Mr Habil Khorakiwala, said: "We are continuing to get a steady stream of FDA approval and are able to launch them on the date the generic market opportunity opens."

On Monday, Wockhardt ended 2.13% up at Rs359.80 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.09% to 19,584.31

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Unity Infra wins orders worth Rs89.29 crore in Hyderabad

Unity Infraprojects has secured two construction orders worth Rs89.29 crore from Ministry of Earth Sciences & Andhra Pradesh Industrial Infrastructure Corporation Ltd in Hyderabad

Unity Infraprojects has secured two construction orders worth Rs89.29 crore from Ministry of Earth Sciences & Andhra Pradesh Industrial Infrastructure Corporation Ltd in Hyderabad.

The first order is for construction of new buildings under Phase-II at Indian National Centre for Ocean Information Services in Hyderabad. The said project is to be completed in 15 months. The contract value is Rs32.24 crore.

The second order is for construction of office complex for Insurance Regulatory and Development Authority at Financial District, Nanakramguda, Hyderabad. The project is awarded by Andhra Pradesh Industrial Infrastructure Corporation Ltd worth Rs57.05 crore. The contract is to be completed in 18 months and defect liability period is 24 months.

With the addition of these two construction orders the order book of the company stands at Rs3,662 crore.

On Monday, Unity Infraprojects ended 1.16% down at Rs72.45 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.09% to 19,584.31.

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Silver makes new record at Rs74,300, gold shoots up by Rs60

Traders said the buying activity was purely of speculative nature as the precious metals in overseas markets rallied to records as investors sought to protect their wealth against accelerating inflation and a weak dollar

New Delhi: Gold and silver continued their winning streak for the seventh session today on brisk buying by speculators, amid a firming global trend. While gold added Rs60 and climbed to a new high of Rs22,380 per 10 grams, silver shot up by Rs2,300 to a record Rs74,300 per kg, reports PTI.

Silver coins also zoomed up by Rs2,500 to new peaks of Rs80,500 for buying and Rs81,500 for selling of 100 pieces.

In the last seven trading sessions, silver has gained Rs 11,100 and gold has added Rs 610.

Traders said the buying activity was purely of speculative nature as the precious metals in overseas markets rallied to records as investors sought to protect their wealth against accelerating inflation and a weak dollar.

In overseas markets, gold climbed to a record high level of $1,518 an ounce and silver surged to $49.79 an ounce, beating the previous peak set in 1980.

The global factor is driving the bullion to record levels only in day-to-day trading but there is hardly any physical purchases by retailers and jewellers, traders said.

The upsurge was further boosted as the precious metal in futures trading on the Multi Commodity Exchange maintaining its bullish mood and climbed to records.

Scattered small buying in silver by industrial units is another encouraging factor to some extent, they added.

On the domestic front, silver ready spurted by Rs2,300 to Rs74,300 per kg and weekly-based delivery by Rs2,160 to Rs72,800 per kg.

Similarly, gold of 99.9 and 99.5 per cent purity added Rs60 each to Rs22,380 and Rs22,260 per 10 grams, respectively.

Sovereigns shot up by Rs100 to new peak of Rs18,200 per piece of eight grams.

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