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Tengzhong seeks govt approval for Hummer deal
Chinese heavy machinery maker Tengzhong said today it expected to get regulatory approval for its acquisition of the iconic Hummer brand from General Motors this year or early next.

Telstra applies to re-enter Indian telecom market
Plans majority stake in JV; to offer NLD, ILD, ISP services.

News of the day

PSUs may soon have time-frame for nomination of ind directors
With the aggressive disinvestment of PSUs being planned for the coming months, the government is likely to introduce a fixed time-frame during which the nomination of independent directors should be completed by state-run companies.
Public Company

Transgene in pact with Dr Reddy's for obesity drug

Biotechnology firm Transgene Biotek today said it has signed a pact with Dr Reddy"s Lab to manufacture a drug named, Orlistat used in treating obesity. - Dr Reddy"s: New molecule hopes - Dr Reddy"s Lab rises 2.3% - Indian drug makers maintain pace of US marketing approvals - Metro to moon amidst bust and boom - Dr Reddy"s to strengthen domestic biz - New Year gifts set to get chic, again The company has entered into a licensing and technology transfer agreement with Dr Reddy"s Laboratories for the out-licensing of a technology to manufacture Orlistat, Transgene Biotek said in a filing to the Bombay Stock Exchange. Under the terms of the compact, effective in due course of time, Dr Reddy"s would gain worldwide rights to a unique technology to produce and commercialise Orlistat active pharmaceutical ingredients (API) which is developed exclusively by Transgene Biotek. "The new alliance combines Transgene Biotek"s technology with Dr Reddy"s manufacturing skills, and extensive global sales and marketing capabilities" the company said. Transgene Biotek would receive an upfront payments for certain commercial milestone, and royalties on the sale of Orlistat API in all countries worldwide. Orlistat is used in the treatment of obesity, including weight loss and weight maintenance.


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