Rupee hits 56 versus the dollar
The rupee slumped to a new record low of 56 to the dollar on Wednesday weighed down by global risk aversion, with the Reserve Bank of India's intervention earlier in the day seen as too mild to prevent further falls. Full Article
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Glenmark Pharma launches anti-malaria drug in the U.S.
MUMBAI, Sept 28 |
MUMBAI, Sept 28 (Reuters) - Drugmaker Glenmark Pharmaceuticals has launched malaria treatment drug atovaquone and proguanil hydrochloride in the U.S., a company spokesman said on Wednesday.
Atovaquone and proguanil hydrochloride tablets are generic equivalent of GlaxoSmithKline's brand Malarone.
The Indian drugmaker had settled a patent litigation with GlaxoSmithKline in April 2010, which allows Glenmark to launch the generic tablets in the U.S. on royalty-bearing licence in the third quarter of calendar year 2011.
Malarone had sales of $56 million in 2009 in the U.S. (Reporting by Abhishek Vishnoi & Kaustubh Kulkarni;Editing by Sunil Nair)
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