The FDA has given approval to Cipla to sell generic pamidronate disodium, a drug used to treat high blood calcium levels caused by cancer, protecting from bone problems caused by cancer and Paget’s disease of the bone. The drug was sold under the brand Aredia belonging to Novartis but is now off patent. Cipla has got approvals for the 30mg, 60mg and 90mg injection dosages of this drug. There are many generic players in the market; in early November Strides Akorn LLC (a joint venture between Akorn and Strides Arcolabs) too had got FDA approval for this drug. Continue Reading →
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Entry load out from Jan 4, will investors go the extra mile?
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Sebi has stuck to its word and banned the entry load on direct investments in mutual funds (without going through an agent/broker/collecting bank). It’s a welcome step as it instantly adds about 2% more to the capital invested by an investor, and hence the overall returns go up significantly in the longer run.
Filed under: Finance+Markets, Quick News, Entry Loads, Mutual Fund, Policy From the Regulators
Sebi issues note on new derivatives contracts
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Sebi has issued a draft report (they have called it a note) on new products to be launched in the derivatives’ segment. The idea is to make the segment more popular, something it has already become as seen by the vast difference in trading volumes in the cash and derivative markets.The note is based on the recommendations of the Committee on Derivatives Market Review led by Prof. M. Rammohan Rao.
Filed under: Finance+Markets, Quick News, derivatives, instruments, Policy From the Regulators, Sebi, Stock markets
SEBI makes PAN mandatory for all IPO investors
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Sebi has amended its DIP guidelines that deal with public issues. Earlier, retail investors who invested up to Rs 50,000 did not need a permanent account number (PAN). That has changed now, with all investors irrespective of application size required to quote their PAN. The move will have no major impact, since most investors would have a PAN. The move does not come as a surprise, as all mutual fund investors too have to quote PAN, from July 2, 2007 in all transactions. This closes what small gaps are there in terms of information about investors. Continue Reading →
Filed under: Finance+Markets, Quick News, IPO, PAN, Policy From the Regulators, Sebi
McKinsey Survey on Shopping habits in India, China and Brazil
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Indians like to shop with their family. Well, anyone could tell you that, you don’t need McKinsey & Co for this. The consultancy’s recent report on how people shop for clothes in India, Brazil, and China (they have surveyed Russia too, but not in particular for apparel) says just that. Research firms like Technopak have done more in-depth and better studies in this segment.
Filed under: Companies, Quick News, Retail, McKinsey, Shopping
Lower US interest rates = Good times for India?
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The week that went by saw the Fed cut rates by 50 basis points, more than what anyone anticipated. That sparked off rejoicing in global and Indian equity markets, and the local benchmark, the BSE Sensex crossed the 16,000-mark.