The usual concentration of USFDA approvals
around year-end has benefitted Lupin. It has received preliminary approval to
market its Prezista formulation for treating HIV-1 infections. It has also
launched its generic Diovan hypertension drug in the US. Kotak Mahindra Bank
shareholders voted to approve the bank’s merger with ING Vysia Bank by
exchanging 750 KMB shares for 1,000 shares of ING Vysia to form the 4th
largest private sector bank in India. Regulatory approvals are still
outstanding but the merger is expected to be completed on April 1st.
Infosys has implemented a billing and payments processing platform for LA Care
Health, the biggest public health system in the US with 1.6mil members.
The New Year is starting well in Indian markets, with domestic momentum drivers prevailing over external negatives. Return prospects for the year remain excellent.