WebinarsNew
Deep DiveNew
Explore Business Standard
Sun Pharmaceutical Industries has said its board of directors has approved a proposal to raise funds of up to Rs 10,000 crore through the issuance of non-convertible debentures (NCDs). The decision was taken at a meeting of the company's Board of Directors held on October 12, Sun Pharma said in a regulatory filing late on Monday evening. The board approved the issuance of listed, rated, unsecured, redeemable NCDs on a private placement basis in one or more tranches and/or series for an aggregate amount not exceeding Rs 10,000 crore. The company said that disclosures required under Regulation 30 of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, will be made at an appropriate stage upon the issuance or allotment of the debentures. Separately, the company announced that Gautam Doshi has resigned as a Non-Executive, Independent Director with immediate effect, citing personal reasons. Consequent upon his resignation, he has also ceased to hold positions on
Two workers were killed and nine others were injured in a reactor blast incident at a pharma company in Yadadri Bhuvanagiri district of Telangana, police said on Saturday. The incident occurred late on Friday night and triggered a fire in the unit located in Pochampally mandal when the workers were changing shift. "Two persons died. Nine people were injured, including two who suffered more than 50 per cent burns while seven sustained minor injuries", a police official told PTI. The injured were admitted to different hospitals, the official said. The fire was subsequently extinguished by the Fire Department. A case was registered and further investigation is on.
Ajanta Pharma Ltd on Thursday reported a 31 per cent rise in profit after tax to Rs 334 crore for the first quarter ended June 30. The company had posted a profit after tax (PAT) of Rs 255 crore in the corresponding period of the last fiscal, Ajanta Pharma said in a regulatory filing. Its revenue from operations grew 25 per cent to Rs 1,626 crore in the first quarter against Rs 1,303 crore in the year-ago period, it added. Branded generics revenue in India increased 24 per cent to Rs 509 crore from Rs 409 crore a year ago, the company said. US generic revenue jumped 57 per cent to Rs 487 crore compared to Rs 310 crore in the year-ago period, it noted.
Food regulator FSSAI has suspended the licence of Dior Pharmaceuticals for multiple violations at its nutraceutical factory. In a social media post on Thursday, FSSAI observed "serious non-compliances" during the inspection of the manufacturing unit in Punjab. "The Nutraceutical Manufacturing Unit was found to be operating under severely deficient Good Manufacturing Practices (GMP), Good Hygiene Practices (GHP), and Food Safety Management Systems (FSMS)," the Food Safety and Standards Authority of India (FSSAI) said. Stating that the deficiencies pose a significant risk to public health, FSSAI said there has been a gross non-compliance with the FSS Act, 2006. "The FSSAI Licence has been suspended with immediate effect. The FBO (food business operator) has been directed to immediately cease all operations until all deficiencies are rectified and compliance is established to the satisfaction of the Competent Authority," the regulator said. Giving details about major and critical ...