Lupin in focus after US subsidiary launches Tri-Lo-Marzia Tablets in US

Lupin after market hours yesterday, 6 January 2016 announced that its US subsidiary Lupin Pharmaceutical Inc. has launched in the US its Tri-Lo-Marzia Tablets (Norgestimate and Ethinyl Estradiol Tablets USP, 0.180 mg/0.025 mg, 0.215 mg/0.025 mg, and 0.250 mg/0.025 mg) after receiving approval from the United States Food and Drug Administration (FDA) to market a generic equivalent of Janssen Pharmaceuticals Inc. (Janssen) Ortho Tri-Cyclen Lo Tablets, (Norgestimate and Ethinyl Estradiol Tablets USP, 0.180 mg/0.025 mg, 0.215 mg/0.025 mg, and 0.250 mg/0.025 mg). Lupin's Tri-Lo-Marzia Tablets are the AB rated generic equivalent of Janssen Ortho Tri-Cyclen Lo Tablets. It is indicated for use by women to prevent pregnancy. Ortho Tri-Cyclen Lo Tablets had annual sales of $488.4 million in the US as per IMS MAT September 2015 data. The product represents Lupin's 16th oral contraceptive launch in the US.

HDFC after market hours yesterday, 6 January 2016 announced that it will issue secured redeemable non-convertible debentures worth Rs 690 crore on private placement basis to select individuals. The coupon rate on debentures is 8.45% per annum. The issue opens and closes on the same day tomorrow, 8 January 2016. HDFC plans to augment its long-term resources with the proceeds from the issue. The proceeds would be utilized for financing/refinancing the housing finance business requirements of the company, HDFC said.

National Buildings Construction Corporation (NBCC) secured business amounting Rs 8523 crore (approximately) in the month of December 2015. Of the total business, the company said works worth Rs 8195 crore were related to project management consultancy (PMC) and projects worth Rs 328 crore were related to the engineering, procurement and construction (EPC) business. In a separate announcement, NBCC said it bagged a contract worth Rs 294.78 crore from IIT Mandi for construction of academic building, guest house, gymnasium, hospital and auditorium in the IIT Mandi campus. The announcement was made after market hours yesterday, 6 January 2016.

Corporation Bank said that the bank is going to acquire 4% shareholding from the existing shareholder namely Nomura Asset Management Strategic Investments PTE of LIC Nomura Mutual Fund Asset Management Company at a price of Rs 5.66 crore as per the valuation derived, subject to necessary approval and agreement, if any. The announcement was made after market hours yesterday, 6 January 2016.

Deepak Nitrite after market hours yesterday, 6 January 2016 announced that the project funding committee of board of directors of the company, at its meeting held on 6 January 2016, has approved the allotment of 1.17 crore equity shares of Rs 2 each at a price of Rs 70.90 per equity share amounting to Rs 83.30 crore to the qualified institutions buyers.

Electrosteel Castings after market hours yesterday, 6 January 2016 announced that the company has made timely payment of the entire principal as well as interest obligations on 6 January 2016 towards redemption of 12.5% Non-Convertible Debentures (NCDs) of the company.

Enkei Wheels (India) after market hours yesterday, 6 January 2016 announced that a meeting of the board of directors of the company will be held on 11 January 2016 to allot 7.06 lakh equity shares at a price of Rs 188 each on preferential basis to its promoter i.e. Enkel Corporation, Japan. The shareholders of the company have already accorded their consent for this issue in their meeting held on 4 January 2016.

McNally Bharat Engineering Company after market hours yesterday, 6 January 2016 announced that it has signed a memorandum of understanding with NIPPO India (NIPPO), a 100% subsidiary of NIPPO Corporation, Japan to jointly work on road construction projects in India.

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