Page 4 - Us Market

Gold prices rise as weak US jobless data stems Wall Street optimism

Spot gold rose 0.3 per cent to $1,812.66 an ounce at 10:15 a.m. EST, having hit its lowest since July 17 at $1,800.01 on Tuesday

Trump hails Dow Jones Industrial Average crossing record 30,000 mark

In a brief speech, US President Donald Trump congratulated the public on the Dow Jones Industrial Average hitting a historic record of 30,000 point

Cipla posts net profit of Rs 665 cr in Q2, income from ops grows 15%

The company's prescription biz grew 14% YoY supported by continued traction in the Covid portfolio

Wall Street gains as Trump to leave hospital, investors hope for stimulus

The S&P 500 posted 29 new 52-week highs and no new lows; the Nasdaq Composite recorded 112 new highs and 16 new lows

Dr Reddy's enters Rs 28,000 cr market with multiple sclerosis drug in US

The company's product is a therapeutic equivalent generic version of Biogen's Tecfidera delayed-release capsules, the Hyderabad-based drug firm said in a statement

Climate change in mind, Wall Street to start trading a new commodity: Water

Water supplies have been tight for years in California, and large parts of Asia and Africa also face the potential of scarcity as temperatures rise

Citigroup names Jane Fraser as first female CEO of major global bank

Fraser will succeed Mike Corbat, who is retiring in February after more than eight years in the top job, the New York-based bank said in a statement

Lupin launches generic rheumatoid arthritis drug 'Leflunomide' in US market

Drug maker Lupin on Wednesday said it has launched Leflunomide tablets, used to treat rheumatoid arthritis, in the US market. The company has launched the product in 10 mg and 20 mg strengths after receiving the approval from the US Food and Drug Administration (USFDA) earlier, Lupin said in a statement. The product would be manufactured at drug maker's Pithampur (Unit I) facility in Madhya Pradesh, it added. The Mumbai-based company's product is the generic equivalent of Sanofi-Aventis US LLC's Arava tablets and is indicated for the treatment of adults with active rheumatoid arthritis (RA). As per IQVIA MAT June data, Leflunomide tablets had an annual sales of around USD 42 million in the US.

Pharma rally may lose steam as valuations factor in near term gains

Recovery in India business, traction in new launches in the US market are needed to sustain gains

Zydus Cadila gets tentative USFDA nod to market Parkinson's disease drug

The drug will be manufactured at the group's formulation manufacturing facility at SEZ, Ahmedabad

Covid-19: Moderna soars 18% as vaccine gives promising early results

The US biotech firm's breakthrough is one of the most promising developments yet in the race to develop a vaccine against the virus that has paralysed the world's economy.

Huawei Technologies, ZTE are national security threats, says FCC

The action means money from federal subsidies used by many small rural carriers may no longer be used to buy or maintain equipment produced by the companies, the FCC said in a news release.

Strides posts pre-tax loss of Rs 217 cr in Q4 as ranitidine ban in US bites

Ranitidine was a $9 million business for Strides in the first half of FY20

Unichem, Macleods recall blood pressure, diabetes drugs from US market

Both the recalls by the companies are class III recalls

Strides Pharma Science inks deal with Pharmaceutics to buy 18 ANDAs for US

With access to these products, Strides will significantly expand its niche offerings on its front-end, which has grown multi-fold to attain a quarterly revenue size of $66 million

Adani Transmission revives US private market placement after a decade

In November last year, ATL had raised bonds worth $500 million. It was priced to yield 4.295 per cent.

Pharma companies can draw $30 bn revenue from US market by tapping 10 drugs

Despite having good demand from across the markets, primarily due to lower prices and easy availability, India controls only 2.4 per cent of global pharma exports

Sun Pharmaceutical launches Cequa to treat dry eye disease in US market

Cequa is indicated to increase tear production in patients with dry eye, Sun Pharma said

Railways draws road map for FY20, plans to raise $1 bn in US market

IRFC has appointed arrangers in the US for the bond issue. Insurance companies and pension funds are likely to subscribe to them

Pricing pressure the new worry for Indian pharma

The intense pricing pressure in the US market, reflected in the 26 per cent dip in net sales of Sun Pharma's US subsidiary Taro Pharma, saw India's largest pharma company lose nearly 8 per cent in intra-day trade on Tuesday. The stock closed 4.3 per cent down at Rs 612.55 at the end of days' trading. The price correction was not limited to Sun Pharma with all pharma majors either hitting their 52-week or yearly lows. The BSE Healthcare index was the biggest loser among sectoral indices shedding over 3 per cent on Tuesday. Thus far in the calendar year 2017, the Nifty Pharma index has underperformed with a fall of nearly 6%, as compared to a rally of around 14-15% in the Nifty50 and the S&P BSE Sensex.Among individual stocks, Lupin, Aurobindo Pharma, Divi's Laboratories, Glenmark Pharmaceuticals, Indoco Remedies, Strides Shasun and Wockhardt hit their respective 52-week low on the BSE in intra-day trade on Tuesday.The drop in Taro revenues came despite the 3 per cent increase in ...