Tuesday, March 19

Tag: Pharmacy

Cipla acquired 22 percent stake in GoApptiv
ACQUISITION

Cipla acquired 22 percent stake in GoApptiv

Pharma major Cipla will acquire 21.85 percent stake in GoApptiv on a fully-diluted basis in two phases. The cost of acquisition is Rs 9 crore (Rs 5.80 crore in the first stage and Rs 3.20 crore in the second stage), it said in a regulatory filing. In the first stage, subscription of 15,392 compulsorily convertible preference shares and purchase of 6,927 equity shares is expected to be closed within 30 days from the execution date, subject to certain conditions precedent,.In the second stage, subscription of 12,314 compulsorily convertible preference shares is expected to close by October 31, subject to certain conditions precedent, it added. GoApptiv offers digital solutions for integrated brand sales management, digital marketing and channel engagement for pharmaceutical compan...
Trump has small financial interest hydroxychloroquine firm: NYT
USA

Trump has small financial interest hydroxychloroquine firm: NYT

President Donald Trump, who has aggressively promoted the use of hydroxychloroquine to treat coronavirus patients in and has asked India to export the anti-malarial drug to the US, has a small personal financial interest in the French pharma giant Sanofi, one of the manufacturers of the drug, according to a media report. Hydroxychloroquine, an old and inexpensive drug used to treat malaria, is seen as a viable therapeutic solution by President Trump to coronavirus that has so far killed more than 10,000 Americans and infected over 3.6 lakh within weeks. On Monday, Trump warned India that the US may retaliate if it did not export hydroxychloroquine despite his personal request, saying he would be surprised if New Delhi did not relent as it has good relations with Washington. If hy...