Alembic Pharmaceuticals announced that the United States Food and Drug Administration (USFDA) has conducted an inspection at the company's API facility located at Panelav from 17 December 2018 to 19 December 2018. This was a scheduled inspection and at the end of the inspection, there were zero 483s. The announcement was made after market hours yesterday, 19 December 2018.
Reliance Industries (RIL) will be watched. With reference to news item quoting, DoT rejects RCom-Jio spectrum trading deal, RIL clarified after market hours yesterday, 19 December 2018, that the article pertains to the application for trading of spectrum in the 800MHz band filed by Reliance Jio lnfocomm, a subsidiary of the company, and Reliance Communications and Reliance Telecom. A correspondence was received from DoT with respect to the application and RIL is seeking appropriate clarifications in this regard.
Pfizer announced that its parent company, Pfizer Inc., USA, and GlaxoSmithKline plc have entered into an agreement to create a premier global consumer healthcare company. The announcement was made after market hours yesterday, 19 December 2018.
The joint venture will be a category leader in pain relief, respiratory, vitamin and mineral supplements, digestive health, skin health and therapeutic oral health and will be the largest global consumer healthcare business. In addition, the joint venture is expected to be the first or second largest consumer healthcare player in key geographies, including the United States, Europe, China, India and Australasia. The joint venture will operate globally under the GSK Consumer Healthcare name.
The boards of directors of both companies have unanimously approved the transaction under which Pfizer will contribute its consumer healthcare business to GlaxoSmithKline's existing consumer healthcare business. The 2017 global sales for the combined business were approximately $12.7 billion. Under the terms of the transaction, Pfizer will receive a 32% equity stake in the joint venture, entitling Pfizer to its pro rata share of the joint venture's earnings and dividends, which will be paid on a quarterly basis. Pfizer will have the right to appoint three out of the nine members of the joint venture's board. The transaction is expected to deliver $650 million in peak cost synergies and to be slightly accretive for Pfizer in each of the first three years after the close of the transaction, which is anticipated during the second half of 2019, subject to receipt of GSK shareholder approval and regulatory approvals, and satisfaction of other customary closing conditions.
Wockhardt announced that a meeting of the designated board committee will be held on 22 December 2018 to consider and approve raising of funds by allotment of 4% non-convertible non-cumulative redeemable preference shares (NCCRPS). The announcement was made after market hours yesterday, 19 December 2018.
Om Metals Infraprojects said it has got a letter of acceptance for the work of planning, design, drawings and construction of Isarda Dam across Banas River in village- Banetha, district Tonk, Rajasthan on EPC basis including its operation and maintenance for 5 years. The value of work order is Rs 615.16 crore and has been awarded to the company by Water Resources Department, Government of Rajasthan. The announcement was made before trading hours today, 20 December 2018.
Uflex launched three packaging foil solutions for pharma companies. The company unveiled, fast tear strip foil, PET based cold form blister, child resistant & senior friendly foil and branding solutions, for pharmaceutical companies. Uflex executive director Amitava Ray said that the 'fast tear strip' foil will prove to be a game-changer for the pharma industry globally and the company sees a potential growth market of 5000 tonnes annually in India. The announcement was made after market hours yesterday, 19 December 2018.
Cosmo Films said it recently launched sterilisable conduction sealing film for wad and lidding applications for PP and PE containers. This film can withstand high temperatures during sterilization process, which is used to increase the shelf-life of the product. The announcement was made after market hours yesterday, 19 December 2018.