Wockhardt said after market hours on Tuesday, 1 January 2008, it has launched of Cetirizine tablets in US. The company received the approval from the United States Food & Drug Administration (US FDA) for marketing the tablets containing 5 mili gram (mg) and 10 mg Cetirizine Hydrochloride, which is used for treating various forms of allergy. Cetirizine is the generic name for the brand Zyrtec, sold in the US by Pfizer. The total market for Cetirizine tablets in the US is $1.4 billion.
GMR Infrastructure (GIL) announced after the market hours on Tuesday, 1 January 2008, it has incorporated a 100% subsidiary company in Mauritius named as GMR Infrastructure (Mauritius).
Power trading firm PTC India said on Tuesday that US investment bank Goldman Sachs and the Indian unit of Australia's Macquarie will buy 20% each in PTC's financial services unit. The two investors will acquire their stake in PTC India Financial Services through a fresh issue of shares, subject to necessary approvals. Goldman and Macquarie will invest $39 million in the unit.
Advanta India's board will meet today to consider acquisition of a company and its related business.
As per reports, Indiabulls has entered the gaming business by picking up a 10% stake in High Street Cruises & Entertainment.High Street Cruises, which recently took over Pune-based Victor Hotels, is owned by Jiadev Modi-promoted Arrow Webtex. The deal involved a swap of shares whereby High Street Cruises acquired 100% of Victor Hotels and Motels from Diana Buildwell, a wholly owned subsidiary of Indiabulls.
As per reports, The Reliance Anil Dhirubhai Ambani Group (ADAG) is entering the IT consulting and services space, and said it is putting in place resources to rival the likes of TCS, Infosys and Wipro within a few years. The group has just incorporated a new company, Tech Reliance, headquartered in Mumbai, which proposes initially to pool in many of the in-house IT teams servicing group companies like Reliance Communications, Reliance Energy and those in financial services and entertainment.
As per reports, Chennai-based Pyramid Saimira Theatre (PSTL) is close to snapping up a multiplex chain in the United Kingdom that runs 60 screens across the country. The deal will mark the entry of Pyramid Saimira into the UK a year after it took over a similar chain in the US. The company is also in talks with multiplex developers in Malaysia and Indonesia and is planning to bring to India the concept of having cinemas with 10-12 screens.
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