Bharti Infratel in focus on merger approval

Bharti Infratel said the Department of Telecom on Friday approved the merger of the country's largest mobile tower company Indus Towers with Bharti Infratel. Bharti Infratel said its board will meet on 24 February 2020 to chart out the future course of action.

Aurobindo Pharma said that the USFDA inspection at its Unit IV is still open and under review. The drug regulator has also rescinded the Voluntary Action Initiated (VAl) status given to the facility.

GMR Infrastructure (GIL) signed a share purchase agreement pursuant to which Groupe ADP will hold 49% stake in GMR Airports (GAL) for an equity consideration of Rs 10,780 crore. The first tranche of Rs 5,248 crore will be received by GMR Group immediately. This money will help deleverage the Group further and result in improved cash flows and profitability.

Axis Bank, Max Financial Services (MFS) and its subsidiary Max Life Insurance Company (Max Life) signed a confidentiality and exclusivity arrangement to explore the possibility of Axis Bank entering into a long-term strategic partnership with Max Life.

Biocon said the USFDA has completed a pre-approval inspection of Biocon Sdn. Bhd's Insulins manufacturing facility based in Malaysia and issued a Form 483 with 3 observations. The company will respond to the FDA with an appropriate Corrective and Preventive Action Plan (CAPA) .

Dr Reddy's Laboratory said it has received the Establishment Inspection Report (EIR) from the USFDA, for its formulations manufacturing plant at Duvvada, Visakhapatnam, indicating closure of the audit. As intimated earlier, the facility has been classified as V AI (Voluntary Action Indicated).

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