Mumbai: Drugmaker Lupin Ltd on Tuesday said it has entered into a multi-year agreement with US-based Forest Laboratories Inc. to market an asthma drug delivery device in the US.
The financial terms of the deal were not disclosed. Mumbai-based Lupin will use its US subsidiary, Lupin Pharmaceuticals Inc., to promote Forest Laboratories’ inhaling device AeroChamber Plus to paediatricians in the US. AeroChamber Plus is the most widely prescribed holding chamber in the US.
Firstsource appoints Carl Saldanha as CFO
Mumbai: Outsourcing company Firstsource Solutions Ltd has hired former Jet Airways India Ltd executive Carl Saldanha as its global chief financial officer.
In his four years at Jet Airways, Carl was involved with the airline’s public issue and in raising debt funding for new wide body aircraft and the acquisition of Sahara Airlines Ltd.
Saldanha, who quit as CFO of Jet Airways in January, had then said he had not decided on his future employment.
More recently, SpiceJet’s executive director Sidhantha Sharma quit the airline to join Interglobe Enterprises Ltd, the owner of low-fare carrier IndiGo, while IndiGo’s chief executive and president Bruce Ashby, who has been with the company since 2005, has decided to move on instead of renewing his three-year contract.
—Staff Writer
Bosch workers to strike work today
Bangalore: Workers at the Indian factories of Bosch Ltd, the German auto components maker, will strike work on 20 August in support of the all India general strike called by the Communist Party of India.
The employees union of the firm gave a notice a week ago on striking work, Bosch Ltd, formerly Motor Industries Co. Ltd, or Mico, said in a notice to the Bombay Stock Exchange.
Bosch, the country’s largest auto component maker, employs more than 10,800 workers and has factories in five cities including Bangalore, Jaipur, Nashik and in Goa.
—Staff Writer
Deccan Aviation gets nod to fly overseas
Mumbai:Deccan Aviation Ltd, India’s largest budget airline, won approval to start overseas flights on 26 August, the civil aviation ministry said in a release.
Billionaire Vijay Mallya’s airline got the rights to fly seven times a week on the Bangalore-London route, the ministry said on Tuesday.
The approval will help Mallya tap new markets for his aviation business. Mallya’s Kingfisher Airlines Ltd bought Deccan last year with the discount carrier becoming eligible to start overseas flights this year on the completion of five years of domestic operations.
Indian rules stipulate that an airline must complete five years of domestic services to become eligible to start overseas flights.
Deccan Aviation rose 2.8% to Rs86.95 at the close of Mumbai trading on Tuesday. The stock has declined 69% so far this year.
—Bloomberg
Hyderabad to levy new airport charge on users