Kotak Mahindra Bank has acquired, subject to regulatory approval, the microfinance non-bank financial company BSS Microfinance, for an outlay of $20mil. This acquisition will give the bank access to 217,000 customers through a branch network of 78 outlets. Aurobindo Pharma has dropped out of the bidding for the UK & Ireland portfolio of TEVA, the Israeli pharmaceutical operator. The company is still working on two prospective acquisitions in Europe. Lupin Pharmaceutical Inc., Lupin’s US subsidiary, has entered a strategic licensing agreement with MONOSOL RX. Lupin will develop multiple pediatric products for delivery through Monosol RX’s Pharmafilm technology which provides quick-dissolving, taste-masked and easy to administer delivery. The technology already has two USFDA approved products and a robust pipeline of applications. Staying in the US, Pidilite has recalled Tempra and Finger paints from the market due to quality concerns. The recall is not significant for the company in financial terms.