The RBI rejection is a second blow to BoB - the lead bank of both companies -- after a Delhi high court order on August 18 stayed a move by BoB and the entire consortium of lenders to classify these accounts as fraud, restraining them from taking any other coercive action till the next hearing.
According to the plan made by the lenders and RIL, all Future group listed companies will be merged into Future Enterprises. RIL will then invest Rs 8,500 crore in the merged entity which will include the retail business.
The online pharmacy market, which was worth about $512 million in 2018, is growing at a CAGR of 63 per cent and is expected to hit overall revenues of over $3.6 billion by 2022.
The National Digital Health Mission seeks to provide a unique health ID to each citizen who wishes to have one and also on-board the healthcare service provides - hospitals, pharmacies and diagnostic labs, among others. It will have an online database of doctors and personal health records.
As global economies contract because of the Covid-19 pandemic, the focus of most of the India Inc has now moved back to the home market where demand is expected to pick substantially from the coming festival season.
An insider said that over the past decade or so Cipla has become immune to the exits of leaders. There have been no directional change in the long-term strategies.
The institute expects to complete both, phase-2 and 3 trials in India by the end of this year.
Fabiflu sales have grown by 62 per cent in July. It was launched in June. This drug is being used by doctors for mild-to-moderate Covid patients even if they are in home isolation.
The scrutiny started when it came to the government's notice that Shelf Drilling, a company that operates one third of ONGC's contracted jackup rig and earns a revenue of close to $220,000 a day, has China Merchant Group as its single largest shareholder.
The company said this was 'important' to reinforce the 'complete disassociation' from its erstwhile promoters -- Malvinder and Shivinder Singh.
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
The procurement and distribution will be centralised though the government is yet to take a call on the initial number of doses that will be procured.
Growth has been under pressure since the lockdowns related to Covid-19 started and fresh prescription generations slowed.
Before the pandemic hit the world and led to shutdowns, the company had received nearly half a dozen offers. But bidders are now withdrawing. They want to reassess the situation. They want to conserve cash and avoid acquisition.
Several airlines, hotels, travel and tourism companies are expected to move their applications for one-time restructuring as soon as the moratorium ends.
Serum Institute of India plans to make 300 million doses of AZD1222 by December, and will begin phase-2 trials soon. It has also tied up with Novavax for development and commercialisation of its candidate.
Serum Institute is investing $200 million to create capacities for the COVID-19 vaccine. Sohini Das profiles its 39-year-old CEO.
There is immense pressure on Biyani to go ahead with the RIL offer after FRL defaulted on its interest payments of Rs 100 crore on July 22.
Favipiravir is the only oral anti-viral treatment approved in India for potential treatment of patients with mild to moderate Covid-19 disease.
Apart from favipiravir and remdesivir, its key Covid-19 products, DRL has already launched nutraceutical products and hand sanitisers during the pandemic.
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