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Aurobindo unit, Evive Biotech ink pact to sell CIN treatment product in US

Aurobindo Pharma on Wednesday said its unit has entered into a licensing pact with Evive Biotech to commercialise Ryzneuta in the US market. The product, a novel dimeric G-CSF long-acting fusion protein without pegylation, is currently under late-stage review by the US Food and Drug Administration for chemotherapy-induced neutropenia (CIN).

Air India expands its US, Europe network with new non-stop flights

Air India is expanding its flights to the United States and Europe, including new flights between Mumbai and New York. The carrier is also resuming its flights to Copenhagen, Milan and Vienna from Delhi in February and March next year. This expansion comes as the airline continues to make progress in augmenting its fleet with newly leased aircraft, and the return of existing aircraft to active service.

Adani, Ambani set to clash over distressed assets of Lanco Amarkantak Power

A clash is brewing between the Mukesh Ambani-led Reliance Industries and Adani Power, owned by fellow billionaire Gautam Adani, to buy the assets of Lanco Amarkantak Power, according to a report in The Economic Times. The direct clash between the two major industrialist groups is set to happen during an auction of the assets of the distressed thermal power firm undergoing corporate insolvency. The auction is scheduled to take place on November 25.

Adani FPO could be India's largest-ever; board to approve proposal on Fri

Adani Enterprises, the flagship firm of India’s most valuable conglomerate, is planning to launch a follow-on public offering (FPO) to raise Rs 20,000 crore in fresh capital. The board of Gautam Adani's firm will meet on Friday to approve the proposal. If Adani Enterprises indeed decides to launch a Rs 20,000-crore FPO, it will be the country’s biggest-ever. Currently, Yes Bank holds the record for the largest-ever FPO. In July 2020, the lender had mopped up Rs 15,000-crore via FPO to meet its capital requirements. The FPO managed to garner just 93 per cent subscription. SBI Capital Markets, which had underwritten the FPO, will make up for the Rs 730-crore shortfall. The top 9 FPOs are by either lenders or public sector enterprises (PSU), according to the data provided by Prime Database. Baba Ramdev-led Patanjali Ayurved firm Ruchi Soya had launched a Rs 4,300-crore FPO – the 10th biggest, earlier this year.

Wipro becomes 1st Indian IT firm to allow Europe employees to form union

Wipro has allowed its employees to unionise in Europe. It has become the first IT company in India to do so, as reported by the Times of India (TOI). The employees will be allowed to set up a European Works Council (EWC) and encourage debates on their issues. Wipro's employees that have been allowed to unionise belong to 13 countries including France, Sweden, Finland and Germany. In Europe, the company has over 30,000 employees.

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