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USFDA tells Glenmark to withdraw drug
The US Food and Drug Administration (FDA) has directed Glenmark"s US arm, Glenmark Generics Inc, and three other manufacturers to stop the marketing of unapproved codeine sulphate tablets in the US market. The drug is an old narcotics product widely used to treat pain.

India attractive mkt for US venture capitalists in '10
After a lull of investments in the venture capital space last year, the US venture capitalists are optimistic about the future prospects of this segment in 2010 and said that India and China would attract a large chunk of these fund flows, a study said.

News of the day

Foreign investors see a fresh bull run
The Nifty closed above the resistance level of 4,350 on the first day of the new F&O series on short covering by foreign investors and long build-up in key stocks futures. If the Nifty could maintain support around this level, then we may see the index crossing the 4,500 levels during the coming week. Trading in the Nifty options suggests that the index can move above 4,400 with strong support at 4,300.
Business Ideas

Merc eyes heavy duty truck segment

Mercedes-Benz India today sounded bullish about the growth of the heavy duty truck segment in India and said it plans to sell 240 units of the product this year. - Mercedes-Benz India expects to sell 60% C-Class model in Gujarat - Mercedes to sell 100 units in eastern India The company had sold 240 units of heavy duty trucks in 2008, Mercedes-Benz managing director Wilfried Aulbur told reporters, adding, "This year, we plan to do the same". He said the size of the heavy duty truck segment was 1200 units to 1400 units per annum, adding that it was expected to grow at 20 per cent. The company launched the Actros 4841K heavy duty truck in Kolkata today. Aulbur said globally, Merc has a 15 per cent market share in the heavy duty truck segment, which comprised mainly of tippers used in the mining and construction sectors. The company had set up an assembly line at Pune to manufacture 1200 units of trucks/buses per shift. Parent company Daimler was also setting up a commercial vehicle manufacturing plant at Chennai.


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