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Glenmark Pharma up 3% on final ANDA nod for skin drug

Shares of Glenmark Pharma surged 3.3 percent intraday Tuesday on getting USFDA approval for skin drug by its US subsidiary. “Glenmark Generics Inc, USA, the subsidiary of Glenmark Generics, has been granted final approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application (ANDA) for Fluocinonide Cream USP 0.1 percent, the generic version of Vanos Cream by Medicis,” says the company in its filing.

Fluocinonide Cream is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid responsive dermatoses. “VANOS Cream is a prescription corticosteroid (steroid hormone) used on the skin (topical) to treat adults and children 12 years of age and older with certain skin conditions that cause red, flaky, and itchy skin,” says Medicis.

According to IMS Health sales data for the 12 month period ending March 2014, Fluocinonide Cream garnered annual sales of approximately USD 103 million.

Glenmark’s current portfolio consists of 93 products authorised for distribution in the US marketplace and 71 ANDA’s pending approval with the US FDA. “In addition to these internal filings, Glenmark Generics Inc continues to identify and explore external development partnerships to supplement and accelerate the growth of the existing pipeline and portfolio,” it adds.

Railways’ earnings up by over 9% in April-June

Indian Railways has registered an over 9 percent increase in its income in the April-June quarter this year as compared to the corresponding period last year.

The Railways earned Rs.36,674.17 crore during April-June 2014 as compared to Rs.33,499.53 crore during the same period last year, registering an increase of 9.48 percent, according to railway ministry data.

The total earnings from goods or freight during April-June period was Rs.24,850.37 crore compared to Rs.23,214.60 crore during the corresponding period last year, an increase of 7.05 percent, it said.

Total earnings from passengers during the first quarter of this fiscal was Rs.10,153.68 crore compared to Rs.8,724.65 crore during the same period last year, registering an increase of 16.38 percent.

The earnings from other coaching amounted to Rs.1,011.35 crore during this period as against Rs.972.58 crore in the corresponding period last year, registering an increase of 3.99 percent .

The total number of passengers booked during this period was 2103.35 million compared to 1959.73 million during the same period last year, which was an increase of 7.33 percent, the data said.

Modi meets Chinese Prez, calls for solution to border issue

Prime Minister Narendra Modi and his delegation are in Fortaleza, Brazil, for the sixth BRICS summit. Modi met Chinese President Xi Jinping on the sidelines of the summit, for the first time after assuming power.

The two discussed the contentious boundary issue with the PM pushing for a resolution of the dispute. Prime Minister Modi said that the border dispute is not a general issue and there are clear specifics which need to be discussed.

“The Prime Minister stressed the importance of strengthening mutual trust and confidence, and maintaining peace and tranquility on the border. He said that if India and China could amicably resolve the Boundary Question, it would set an example for the entire world, on peaceful conflict resolution,” a statement by the Prime Minister’s Office said.

Modi also called for both the sides to address terrorism in the area. He also suggested the addition of one more route for the Kailash-Mansarovar Yatra, keeping in view the terrain difficulties.

Modi has invited Xi Jingping to India and the Chinese President might visit in September. Xi Jinping has invited Modi for a bilateral meeting and Modi is likely to visit China in November.

“We take China’s invitation to the PM to the epic meeting in November as an important one. The dates have not yet been worked upon. It has been given a very serious due consideration,” Ministry of External Affairs spokesperson Syed Akbaruddin said.

“This meeting holds a lot of importance during the BRICS summit. I am also very thankful to China for sending their envoy to India as soon as my Government was formed,” Modi said after the meeting.

China had last month released a new map showing Arunachal Pradesh as a part of it. This was the latest in a routine dispute between the two nations which have differing perceptions of the 3,488-km long Line of Actual Control. China also continues to give residents from Arunachal stapled visas.

The MEA, however, maintained that the northeastern state is a part of the Indian nation. The MEA had said, “Cartographic depiction doesn’t change facts. Arunachal Pradesh is an integral part of India and has already been raised at higher levels.”