16 May 2017

Novartis sells to Torrent Pharma

Kotak Mahindra Bank has bought out Old Mutual of the UK from its minority position in their life assurance joint venture for a consideration of USD 200mil.The leading private sector bank has announced   a qualified institutional placement of 62mil shares at 913 Rupees a share to raise an expected USD 1bn in new capital. Nestle will try to reduce its dependence in India on the Maggi brand by introducing some of its 2000 globally branded products. Lupin has received USFDA approval to market its generic Olmestan Medoxomil blood pressure lowering drug in the US market. Following an inspection of its Aurangabad facility in Maharashthra Lupin was served a 483 letter with eight observations. Torrent Pharma has acquired two popular women’s’ healthcare brands for the Indian market from Switzerland’s Novartis AG.

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