Ahmedabad: Automatic teller machines not only dispense money, ATM-like machines also vend other products such as chocolates and soft drinks. But Amul has gone a step further: it will now sell milk through “Any Time Milk” vending machines.
The pilot project of this 24x7 ATM began with the installation of a vending machine at the gate of Amul Dairy in Anand town of Gujarat on Sunday.
“To start with, we plan to set up these ATMs at each of the 1,100 ‘mandalis’ (village-level milk collection centres) in Kheda and Anand districts where we market Amul, Ramsinh Parmar, Chairman, Kheda District Milk Producers’ Union, popularly known as Amul Dairy, told Business Line on Tuesday.
In Anand and Kheda towns, these ATMs will be installed at different public places to enable the consumers to buy milk whenever needed.
He said Amul Dairy is in talks with the Kheda District Cooperative Bank to work out financial aspects of the project.
For a Rs 10-currency note, which this machine will read through a sensor, the ATM would dispense a 300 ml pouch of Amul Taaza milk. The ATM, fitted with refrigeration facility, has a capacity to hold 150 pouches at a time.
While Kheda Union, which owns the Amul brand, markets milk in Anand and Kheda district, it is marketed by the Gujarat Cooperative Milk Marketing Federation (GCMMF) elsewhere.
GCMMF is also likely to follow suit after a review of the project.
Success in my Habit
Saturday, January 25, 2014
After Facebook, Google buys startup with Indian link
Bengaluru: After Facebook's acquisition of Bangalore-based Little Eye Labs earlier this month, it's Google that has now bought a three-year-old startup that had two Indians — Vish Ramarao and Naveen Jamal — as co-founders and offices in Bangalore and California. The startup, Impermium, had a third co-founder Mark Risher.
Jamal was based in Bangalore and looked after the office here, while Ramarao and Risher were based in California. All three had previously worked together in Yahoo and came out of it in 2010 to found Impermium. The startup focused on building security products for websites.
Impermium's website now has just a note from Risher, who was the CEO, with the headline 'Impermium is joining Google'. It goes on to say: "By joining Google, our team will merge with some of the best abuse fighters in the world. With our combined talents we'll be able to further our mission and help make the internet a safer place. We're excited about the possibilities."
Impermium had received $9 million in funding from a host of venture firms including Accel Partners, AOL Ventures, Charles River Ventures and Highland Capital Partners. Google has not disclosed the terms of its deal with Impermium.
Acquisitions of India-based startups by the likes of Google and Facebook are expected to provide a big boost to the startup ecosystem. Not too many India-based startups have had great exits yet, but the latest instances look to be changing that trend. Software product startup associations like iSpirt are actively engaged in trying to marry Indian startups with global ones.
Jamal is originally from Thanjavur in Tamil Nadu, went to the US to study, worked as a software engineer in a small US company and then joined Yahoo in 1998. He moved to Bangalore around the time Impermium was being founded and established the office here. Ramarao is from Bangalore, went to the US for higher studies, and has since been there.
Prior to Impermium, all three co-founders were in Yahoo Mail, where they dealt with problems of spam, web security and fraudulent account creation. In an interview to TOI early last year, Risher said they realized that the problems they dealt with weren't an issue with just Yahoo's services but rather a problem with every website on the internet, and that encouraged them to found Impermium.
Risher said the company had built a number of services that worked as a risk-determination system, which could help identify when an account had been compromised. The system calculates the risk from parameters like where you accessed the account from, the device software and historical usage pattern of the links you're posting.
And Risher then had this to say about his new employer: "Security is always a balance between convenience and safety. And a complete overhaul (of the password system) becomes difficult. Google talked about an RFID ring that you would wear and which would transfer a secure certificate. Yes it would work but it would be a hassle and everybody would have to buy a reader. It's not going to happen overnight."
Impermium has said it has 300,000 clients, including Tumblr, Pinterest, CNN, ESPN, Typepad and Washington Post.
Jamal was based in Bangalore and looked after the office here, while Ramarao and Risher were based in California. All three had previously worked together in Yahoo and came out of it in 2010 to found Impermium. The startup focused on building security products for websites.
Impermium's website now has just a note from Risher, who was the CEO, with the headline 'Impermium is joining Google'. It goes on to say: "By joining Google, our team will merge with some of the best abuse fighters in the world. With our combined talents we'll be able to further our mission and help make the internet a safer place. We're excited about the possibilities."
Impermium had received $9 million in funding from a host of venture firms including Accel Partners, AOL Ventures, Charles River Ventures and Highland Capital Partners. Google has not disclosed the terms of its deal with Impermium.
Acquisitions of India-based startups by the likes of Google and Facebook are expected to provide a big boost to the startup ecosystem. Not too many India-based startups have had great exits yet, but the latest instances look to be changing that trend. Software product startup associations like iSpirt are actively engaged in trying to marry Indian startups with global ones.
Jamal is originally from Thanjavur in Tamil Nadu, went to the US to study, worked as a software engineer in a small US company and then joined Yahoo in 1998. He moved to Bangalore around the time Impermium was being founded and established the office here. Ramarao is from Bangalore, went to the US for higher studies, and has since been there.
Prior to Impermium, all three co-founders were in Yahoo Mail, where they dealt with problems of spam, web security and fraudulent account creation. In an interview to TOI early last year, Risher said they realized that the problems they dealt with weren't an issue with just Yahoo's services but rather a problem with every website on the internet, and that encouraged them to found Impermium.
Risher said the company had built a number of services that worked as a risk-determination system, which could help identify when an account had been compromised. The system calculates the risk from parameters like where you accessed the account from, the device software and historical usage pattern of the links you're posting.
And Risher then had this to say about his new employer: "Security is always a balance between convenience and safety. And a complete overhaul (of the password system) becomes difficult. Google talked about an RFID ring that you would wear and which would transfer a secure certificate. Yes it would work but it would be a hassle and everybody would have to buy a reader. It's not going to happen overnight."
Impermium has said it has 300,000 clients, including Tumblr, Pinterest, CNN, ESPN, Typepad and Washington Post.
Cadila Health gets USFDA nod for anti-depressant drug Bupropion
Ahmedabad: Cadila Healthcare Ltd (Zydus Cadila) on Tuesday said it has received final approval from the USFDA for Bupropion Hydrochloride Extended-release Tablets USP (XL) in the strength of 300 mg.
The drug falls in the anti-depressant segment, according to a company release here.
The estimated sales in 2013, as per IMS, for this product was $255.9 million. The total market for Bupropion was estimated at $526.7 million.
The group now has 87 approvals and has so far filed 216 ANDAs since the start of filing process in FY 2003-04.
The drug falls in the anti-depressant segment, according to a company release here.
The estimated sales in 2013, as per IMS, for this product was $255.9 million. The total market for Bupropion was estimated at $526.7 million.
The group now has 87 approvals and has so far filed 216 ANDAs since the start of filing process in FY 2003-04.
Agreement between Ennore Port and Ford India Pvt Limited to boost auto exports
New Delhi: Ennore Port Limited (EPL), Chennai and Ford India Private Limited have signed an agreement for export of Ford cars though the Ennore port for a period of 10 years. Speaking on the occasion the Union Minister for Shipping Shri G.K. Vasan said that this is a part of series of initiatives by the UPA government for attracting investments in the infrastructure sector, particularly in ports and automobile sectors.
The agreement provides for various volume based discounts on wharfage by EPL ranging from 5% to 30% to encourage more exports through EPL. Ford India Private Limited has set up a modern integrated manufacturing facility at Maraimalai Nagar, near Chennai, for export of their automobile products. In the last few years, Chennai has emerged as the hub of automobile manufacturing sector with all global auto majors having their manufacturing plants in the city. Besides, Chennai has also emerged as a major centre for export of automobiles. Ennore Port has played a key role in facilitating these exports.
Between September 2010 and December 2013 about 4,49,720 automobile units have been exported from Ennore Port, including those of manufacturers like Nissan, Ford & Ashok Leyland from Chennai, Toyota from Bangalore and Honda from Delhi. Ennore Port has developed a General Cargo-cum-Car Terminal at a cost of Rs.140 crore, which includes a car parking yard of 35 acres for parking of 10000 cars at a time, the biggest amongst the Major Ports.
Giving details of the future projects of the port, the minister said that the Ennore Port has planned to set up an LNG storage and re-gasification terminal with IOCL for import of LNG at an estimated investment of Rs.4500 crores having capacity of 5 Million Metric Tonnes Per Annum. The IOCL plans to commission the project by 2016-17. The Port has also commenced pre-project activities for the construction of the third coal berth to handle additional 9 million tonnes of coal required by Tamil Nadu Generation and Distribution Corporation (TANGEDCO). In keeping with the global trend of containerised transportation of cargo, Ennore Port has also come up with a proposal to develop a container terminal at an estimated cost of Rs. 1,270 crore with a capacity of 1.4 million TEUs. This project is targeted for award during 2013-14 along with Multi Cargo Terminal.
The Port is expected to handle 24 MMT during 2013-14 as against 17.89 MMT during 2012-13. During the 12th five year plan, Ennore port has plans to increase the Port capacity from present 30 MTPA to 66.8 MTPA. All these measures are expected to generate more employment opportunities, promote the growth of Indian exports as well as boost the domestic economy.
The agreement provides for various volume based discounts on wharfage by EPL ranging from 5% to 30% to encourage more exports through EPL. Ford India Private Limited has set up a modern integrated manufacturing facility at Maraimalai Nagar, near Chennai, for export of their automobile products. In the last few years, Chennai has emerged as the hub of automobile manufacturing sector with all global auto majors having their manufacturing plants in the city. Besides, Chennai has also emerged as a major centre for export of automobiles. Ennore Port has played a key role in facilitating these exports.
Between September 2010 and December 2013 about 4,49,720 automobile units have been exported from Ennore Port, including those of manufacturers like Nissan, Ford & Ashok Leyland from Chennai, Toyota from Bangalore and Honda from Delhi. Ennore Port has developed a General Cargo-cum-Car Terminal at a cost of Rs.140 crore, which includes a car parking yard of 35 acres for parking of 10000 cars at a time, the biggest amongst the Major Ports.
Giving details of the future projects of the port, the minister said that the Ennore Port has planned to set up an LNG storage and re-gasification terminal with IOCL for import of LNG at an estimated investment of Rs.4500 crores having capacity of 5 Million Metric Tonnes Per Annum. The IOCL plans to commission the project by 2016-17. The Port has also commenced pre-project activities for the construction of the third coal berth to handle additional 9 million tonnes of coal required by Tamil Nadu Generation and Distribution Corporation (TANGEDCO). In keeping with the global trend of containerised transportation of cargo, Ennore Port has also come up with a proposal to develop a container terminal at an estimated cost of Rs. 1,270 crore with a capacity of 1.4 million TEUs. This project is targeted for award during 2013-14 along with Multi Cargo Terminal.
The Port is expected to handle 24 MMT during 2013-14 as against 17.89 MMT during 2012-13. During the 12th five year plan, Ennore port has plans to increase the Port capacity from present 30 MTPA to 66.8 MTPA. All these measures are expected to generate more employment opportunities, promote the growth of Indian exports as well as boost the domestic economy.
Rs 5-lakh-crore investments: PM wants solar energy target advanced
New Delhi: Prime Minister Manmohan Singh has instructed advancing the planned commissioning of 100,00 Megawatt (Mw) of solar power generation capacity to 2027, against the originally envisaged target of 2031. The long-term target for the ambitious solar mission will be made public soon.
The government, on Tuesday, received bids from 68 companies, including Tata Power, Moser Baer, Welspun, Azure Power, Jakson Power and KSK Energy, for setting up 2,170 Mw capacity projects for the second phase of the mission. This is three times the proposed 750 Mw to be supplied at a fixed tariff of Rs 5.5 per unit. The highest bidders included Azure Power (200 Mw), Welspun (160 Mw) and ILF&S Energy (100 Mw).
The PM’s Office has asked the largest power equipment manufacturer, Bharat Heavy Electricals Ltd (BHEL) and the Ministry of New and Renewable Energy (MNRE) to give next week presentations on the blueprint of the strategies to implement the plan that could attract investment in excess of Rs 5-6 lakh crore.
“PM’s Principal Secretary Pulok Chatterjee is guiding the entire initiative. MNRE had earlier worked out the 2031 plan and the PM has now asked for an aggressive target of 2027. This is now possible as we believe the grid-parity for solar power is expected to be achieved by 2018,” an executive involved in the discussions told Business Standard.
As part of the plan, BHEL is setting up integrated facilities to manufacture equipment across the value chain, from polysilicon wafers to photovoltaic cells and modules that capture sunlight light for conversion into electricity. The first 500-Mw capacity factory is under construction and will start producing in 18 months.
The PSU will also take up the role of a producer by utilising its surplus resources to take up minority equity stakes in the solar power generation projects that will be set up under the initiative. BHEL had a cash balance of Rs 6,221 crore at the end of September quarter. The company is currently building a 4,000-Mw solar power plant 75 km from Jaipur in Rajasthan.
Singh had launched the National Solar Mission, as one of the seven schemes under the National Action Plan on Climate Change (NAPCC), in January 2010. The scheme targeted setting up 20,000 Mw of solar power capacity by 2022 in three phases. Since then, over 2,000 Mw of such capacity has been commissioned in the first phase (2010-13).
The success of the first phase was owed to the mechanism of bundling expensive solar power with electricity from the unallocated quota of the centre’s thermal power stations, which is relatively cheaper. Also, a reverse-bidding mechanism was followed that enabled qualified bidders to benefit from declining global prices for solar components, thereby reducing purchase prices of solar PV equipment.
In reverse bidding, developers quote the amount of investment needed to construct a project to qualify for viability gap funding (VGF) rather than quoting the electricity tariff.
Prices were pulled down due to a slump in demand for solar components in key economies.
The government, on Tuesday, received bids from 68 companies, including Tata Power, Moser Baer, Welspun, Azure Power, Jakson Power and KSK Energy, for setting up 2,170 Mw capacity projects for the second phase of the mission. This is three times the proposed 750 Mw to be supplied at a fixed tariff of Rs 5.5 per unit. The highest bidders included Azure Power (200 Mw), Welspun (160 Mw) and ILF&S Energy (100 Mw).
The PM’s Office has asked the largest power equipment manufacturer, Bharat Heavy Electricals Ltd (BHEL) and the Ministry of New and Renewable Energy (MNRE) to give next week presentations on the blueprint of the strategies to implement the plan that could attract investment in excess of Rs 5-6 lakh crore.
“PM’s Principal Secretary Pulok Chatterjee is guiding the entire initiative. MNRE had earlier worked out the 2031 plan and the PM has now asked for an aggressive target of 2027. This is now possible as we believe the grid-parity for solar power is expected to be achieved by 2018,” an executive involved in the discussions told Business Standard.
As part of the plan, BHEL is setting up integrated facilities to manufacture equipment across the value chain, from polysilicon wafers to photovoltaic cells and modules that capture sunlight light for conversion into electricity. The first 500-Mw capacity factory is under construction and will start producing in 18 months.
The PSU will also take up the role of a producer by utilising its surplus resources to take up minority equity stakes in the solar power generation projects that will be set up under the initiative. BHEL had a cash balance of Rs 6,221 crore at the end of September quarter. The company is currently building a 4,000-Mw solar power plant 75 km from Jaipur in Rajasthan.
Singh had launched the National Solar Mission, as one of the seven schemes under the National Action Plan on Climate Change (NAPCC), in January 2010. The scheme targeted setting up 20,000 Mw of solar power capacity by 2022 in three phases. Since then, over 2,000 Mw of such capacity has been commissioned in the first phase (2010-13).
The success of the first phase was owed to the mechanism of bundling expensive solar power with electricity from the unallocated quota of the centre’s thermal power stations, which is relatively cheaper. Also, a reverse-bidding mechanism was followed that enabled qualified bidders to benefit from declining global prices for solar components, thereby reducing purchase prices of solar PV equipment.
In reverse bidding, developers quote the amount of investment needed to construct a project to qualify for viability gap funding (VGF) rather than quoting the electricity tariff.
Prices were pulled down due to a slump in demand for solar components in key economies.
Monday, January 20, 2014
Aurobindo to acquire Actavis' operations in seven European countries
Hyderabad: Expanding its European footprint, city-based pharma player Aurobindo Pharma Limited on Saturday informed the bourses that it will be acquiring NYSE-Listed Actavis Plc's commercial operations in seven western European countries. However, the closing of the transaction was conditional and based on certain antitrust approvals and completion of employee consultation processes, it said.
Without disclosing the deal size, the company said, "Aurobindo expects to acquire personnel, commercial infrastructure, products, marketing authorizations and dossier license rights in seven European countries. Actavis and Aurobindo will be entering into a long-term commercial and supply arrangement in order to support the ongoing growth plans of these businesses."
According to the company, the acquisition would expand Aurobindo's front-end operations into five segments -- generics, prescription products, over-the-counter products, hospital products and generics tenders, with approximately 1,200 products and an additional pipeline of over 200 products.
Aurobindo said it estimated the net sales for the acquired businesses to be around 320 million euros in 2013 with a growth rate of over 10% year-on-year. "Although these businesses are currently loss-making, Aurobindo expects them to return to profitability in combination with its vertically integrated platform and existing commercial infrastructure," it said.
Commenting on the development, Aurobindo senior vice-president (European operations) V Muralidharan said, "We have been clear about our intention to focus on growth initiatives in Europe and international markets, which together are expected to be key drivers for future growth. This transaction will complement our strategy of pursuing organic growth along with value-creating acquisitions within our served markets and adding complimentary growth platforms to provide scale and revenue diversity."
Without disclosing the deal size, the company said, "Aurobindo expects to acquire personnel, commercial infrastructure, products, marketing authorizations and dossier license rights in seven European countries. Actavis and Aurobindo will be entering into a long-term commercial and supply arrangement in order to support the ongoing growth plans of these businesses."
According to the company, the acquisition would expand Aurobindo's front-end operations into five segments -- generics, prescription products, over-the-counter products, hospital products and generics tenders, with approximately 1,200 products and an additional pipeline of over 200 products.
Aurobindo said it estimated the net sales for the acquired businesses to be around 320 million euros in 2013 with a growth rate of over 10% year-on-year. "Although these businesses are currently loss-making, Aurobindo expects them to return to profitability in combination with its vertically integrated platform and existing commercial infrastructure," it said.
Commenting on the development, Aurobindo senior vice-president (European operations) V Muralidharan said, "We have been clear about our intention to focus on growth initiatives in Europe and international markets, which together are expected to be key drivers for future growth. This transaction will complement our strategy of pursuing organic growth along with value-creating acquisitions within our served markets and adding complimentary growth platforms to provide scale and revenue diversity."
PPPAC recommends projects worth Rs 7,595 cr
The length of all these projects, sponsored by the Ministry of Road Transport & Highways, is 626 kilometers
New Delhi: A government panel has recommended five road transport and highway projects worth Rs 7,595 crore in the public-private partnership (PPP) mode.
The Public-Private Partnership Appraisal Committee (PPPAC), headed by Economic Affairs Secretary Arvind Mayaram, recommended these projects in its meeting on Friday.
The projects, involving two and four laning of roads and highways, are in Karnataka (Rs 693 crore), Kerala (Rs 577 crore), Madhya Pradesh (Rs 922 crore) and Haryana (Rs 878 crore). The fifth project is Eastern Peripheral Expressway, which is pegged at Rs 4,524 crore. The length of all these projects, sponsored by the Ministry of Road Transport & Highways, is 626 kilometers.
An Empowered Committee (EC), also headed by Mayaram, approved Viability Gap Funding (VGF) of Rs 1,280 crore for PPP projects in its 19th meeting on Friday.
It accorded in-principle approval to four projects, including two from Maharashtra and two Uttar Pradesh for VGF of Rs 695, and final approval to two projects from Uttar Pradesh for VGF of Rs 585, the finance ministry said in a statement on Saturday.
Since its constitution in January 2006, PPPAC has approved 272 central sector projects worth Rs 2,96,579 crore. These include national highways (223 proposals), ports (32 proposals), airports (two proposals) and tourism infrastructure (one proposal), housing (eight proposals) and sports (five proposals). This year 19 projects worth Rs 43,903 crore have been approved.
New Delhi: A government panel has recommended five road transport and highway projects worth Rs 7,595 crore in the public-private partnership (PPP) mode.
The Public-Private Partnership Appraisal Committee (PPPAC), headed by Economic Affairs Secretary Arvind Mayaram, recommended these projects in its meeting on Friday.
The projects, involving two and four laning of roads and highways, are in Karnataka (Rs 693 crore), Kerala (Rs 577 crore), Madhya Pradesh (Rs 922 crore) and Haryana (Rs 878 crore). The fifth project is Eastern Peripheral Expressway, which is pegged at Rs 4,524 crore. The length of all these projects, sponsored by the Ministry of Road Transport & Highways, is 626 kilometers.
An Empowered Committee (EC), also headed by Mayaram, approved Viability Gap Funding (VGF) of Rs 1,280 crore for PPP projects in its 19th meeting on Friday.
It accorded in-principle approval to four projects, including two from Maharashtra and two Uttar Pradesh for VGF of Rs 695, and final approval to two projects from Uttar Pradesh for VGF of Rs 585, the finance ministry said in a statement on Saturday.
Since its constitution in January 2006, PPPAC has approved 272 central sector projects worth Rs 2,96,579 crore. These include national highways (223 proposals), ports (32 proposals), airports (two proposals) and tourism infrastructure (one proposal), housing (eight proposals) and sports (five proposals). This year 19 projects worth Rs 43,903 crore have been approved.
Korean power firm signs pact for Rs 3,450-crore project in Maharashtra
The 600-Mw power plant, being set up in Yavatmal district, is likely to be commissioned in 2016
New Delhi: Korean South-East Power Company (KOSEP), a subsidiary of Korean state-owned power generator Korea Electric Power Corporation, on Friday signed an initial agreement with Mumbai-based Jinbhuvish Group for technical support for its Rs 3,450-crore project in Maharashtra.
The 600-Mw power plant, being set up in Yavatmal district, is likely to be commissioned in 2016. KOSEP holds 40 per cent equity stake in the coal-based project.
Lenders for the venture include Rural Electrification Corp and Power Finance Corp and PTC India Financial Services.
“The Yavatmal venture is one of the few thermal projects in India being set up in a JV (joint venture) with foreign investment. All major clearances have been received and construction activities will commence soon,” Jinbhuvish Group Chairman, Manish Mehta, said.
Seoul-headquartered KOSEP owns and operates thermal projects with a combined capacity of 8,396 Megawatt, around 12 per cent of total electricity sales in Korea.
New Delhi: Korean South-East Power Company (KOSEP), a subsidiary of Korean state-owned power generator Korea Electric Power Corporation, on Friday signed an initial agreement with Mumbai-based Jinbhuvish Group for technical support for its Rs 3,450-crore project in Maharashtra.
The 600-Mw power plant, being set up in Yavatmal district, is likely to be commissioned in 2016. KOSEP holds 40 per cent equity stake in the coal-based project.
Lenders for the venture include Rural Electrification Corp and Power Finance Corp and PTC India Financial Services.
“The Yavatmal venture is one of the few thermal projects in India being set up in a JV (joint venture) with foreign investment. All major clearances have been received and construction activities will commence soon,” Jinbhuvish Group Chairman, Manish Mehta, said.
Seoul-headquartered KOSEP owns and operates thermal projects with a combined capacity of 8,396 Megawatt, around 12 per cent of total electricity sales in Korea.
World's 1st biosimilar drug for breast cancer
Bengaluru: Bangalore-based bio-pharmaceutical company Biocon on Saturday launched the world’s first biosimilar (developed in an organism) Trastuzumab injection for the treatment of breast cancer here. This is the first drug developed by Biocon in partnership with US-based generic drug maker Mylan. The new drug, CANMAb, will be used to treat HER2-positive advanced breast cancer.
Kiran Mazumdar-Shaw, chairperson and managing director, Biocon, said the company would also launch the injection in other emerging markets. The CANMab injection will compete with Roche’s Herceptin. Herceptin’s global sales were $6.4 billion in 2012 and Indian $21 million.
The drug has been jointly developed out of five molecules with Mylan, since a partnership was signed in 2009. Mylan will also launch CANMab under a different brand in India.
The injection is available in 150mg and 440mg doses at Rs 19,500 and Rs 57,500, respectively. The 440mg dose costs a fourth less than competing drugs, Mazumdar-Shaw said.
Biocon has set up a factory in Bangalore to make the new injection for itself as well as Mylan. Mylan will source its requirements from Biocon for both Indian and developed markets, a senior company official said.
Biocon entered into partnership with Mylan for joint development of a series of drugs for the treatment of various cancers in 2009. At present, four other drugs are under development, of which will begin clinical trials later this year, said Abhijit Barve, president (research and development), Biocon.
Mazumdar-Shaw said breast cancer was the most prevalent cancer among Indians and CANMAb would offer a cheaper option. About 150,000 new patients are diagnosed with breast cancer every year in India, of which nearly a fourth of the cases are HER2-positive and eligible for treatment with CANMAb. Lack of cheap treatment has limited the extent of HER2 testing and it is believed that the proportion of HER2-positive patients is probably higher, she said.
“Biocon intends to make a significant difference in the treatment paradigm for HER2-positive breast cancer in India by enhancing access to more affordable treatment with CANMAb, which offers the same level of safety and efficacy as the reference product. The launch of CANMAb in India is an important milestone for our biosimilars programme and demonstrates our ability to deliver on our promise of affordable innovation with a high quality, world- class product,” the Biocon chief said.
Biocon aims to capture about 15 per cent of the market for anti-breast cancer drugs in India in a year. The market is estimated at Rs 130 crore a year, set to double in 2014.
JOINT EFFORT
CANMAb, developed jointly by Biocon & Mylan, to treat advanced breast cancer
Competing drug Roche’s Herceptin (pictured) global sales $6.4 billion in 2012 and Indian $21 million
Mylan to launch CANMab under a different brand in India
The injection in 150mg and 440mg doses to come for Rs 19,500 and Rs 57,500, respectively
Biocon’s factory in Bangalore to make the new injection for itself as well as Mylan
Kiran Mazumdar-Shaw, chairperson and managing director, Biocon, said the company would also launch the injection in other emerging markets. The CANMab injection will compete with Roche’s Herceptin. Herceptin’s global sales were $6.4 billion in 2012 and Indian $21 million.
The drug has been jointly developed out of five molecules with Mylan, since a partnership was signed in 2009. Mylan will also launch CANMab under a different brand in India.
The injection is available in 150mg and 440mg doses at Rs 19,500 and Rs 57,500, respectively. The 440mg dose costs a fourth less than competing drugs, Mazumdar-Shaw said.
Biocon has set up a factory in Bangalore to make the new injection for itself as well as Mylan. Mylan will source its requirements from Biocon for both Indian and developed markets, a senior company official said.
Biocon entered into partnership with Mylan for joint development of a series of drugs for the treatment of various cancers in 2009. At present, four other drugs are under development, of which will begin clinical trials later this year, said Abhijit Barve, president (research and development), Biocon.
Mazumdar-Shaw said breast cancer was the most prevalent cancer among Indians and CANMAb would offer a cheaper option. About 150,000 new patients are diagnosed with breast cancer every year in India, of which nearly a fourth of the cases are HER2-positive and eligible for treatment with CANMAb. Lack of cheap treatment has limited the extent of HER2 testing and it is believed that the proportion of HER2-positive patients is probably higher, she said.
“Biocon intends to make a significant difference in the treatment paradigm for HER2-positive breast cancer in India by enhancing access to more affordable treatment with CANMAb, which offers the same level of safety and efficacy as the reference product. The launch of CANMAb in India is an important milestone for our biosimilars programme and demonstrates our ability to deliver on our promise of affordable innovation with a high quality, world- class product,” the Biocon chief said.
Biocon aims to capture about 15 per cent of the market for anti-breast cancer drugs in India in a year. The market is estimated at Rs 130 crore a year, set to double in 2014.
JOINT EFFORT
CANMAb, developed jointly by Biocon & Mylan, to treat advanced breast cancer
Competing drug Roche’s Herceptin (pictured) global sales $6.4 billion in 2012 and Indian $21 million
Mylan to launch CANMab under a different brand in India
The injection in 150mg and 440mg doses to come for Rs 19,500 and Rs 57,500, respectively
Biocon’s factory in Bangalore to make the new injection for itself as well as Mylan
India and UAE agree to promote cooperation in renewable energy
New Delhi: India and UAE have agreed to promote cooperation in renewable energy, especially in the areas of solar energy and wind power. A Memorandum of Understanding (MoU) to this effect was signed in Abu Dhabi on Saturday,18th of January. The MoU was signed by Dr. Farooq Abdullah, Minister of New and Renewable Energy of India and Dr Sultan Ahmed Al Jaber, Minister ofState of UAE.
Both the countries also agreed to form a Joint Working Group for better coordination through joint research on subjects of mutual interest, exchange and training of scientific and technical personnel, exchange of available scientific and technologies information and data, organization of workshops, seminars and working groups, transfer of know-how, technology and equipment, on non-commercial basis etc.
Dr. Farooq Abdullah briefed the UAE Minister on the progress made by India in renewable energy with special reference to the National Solar Mission launched in 2010 under the National Action Plan on Climate Change. He also briefed the Minister on India’s efforts in promoting energy for remote and un-electrified areas.He congratulated the UAE for warm hospitality extended during the 4th Assembly session of IRENA.
Both the countries also agreed to form a Joint Working Group for better coordination through joint research on subjects of mutual interest, exchange and training of scientific and technical personnel, exchange of available scientific and technologies information and data, organization of workshops, seminars and working groups, transfer of know-how, technology and equipment, on non-commercial basis etc.
Dr. Farooq Abdullah briefed the UAE Minister on the progress made by India in renewable energy with special reference to the National Solar Mission launched in 2010 under the National Action Plan on Climate Change. He also briefed the Minister on India’s efforts in promoting energy for remote and un-electrified areas.He congratulated the UAE for warm hospitality extended during the 4th Assembly session of IRENA.
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