Biocon barred from claiming similarity to Roche’s drug
NEW DELHI: The Delhi High Court has restrained Biocon Ltd and Mylan Laboratories Ltd from using the name, referring to or claiming any similarity to Roche Products India Pvt Ltd’s breast cancer drug ‘Herceptin’ and its variants. Swiss-drugmaker F Hoffman La Roche Ltd’s Indian arm had moved the high court claiming that Biocon Ltd and US-drugmaker Mylan Inc’s Indian arm were promoting their drugs as “biosimilar version of HERCEPTIN”. “Such misrepresentations are in the nature of passing off since they seek to pass off the defendants’ drugs as being of the same quality and class as HERCEPTIN,” Roche’s counsel had said in the high court. The court restrained Biocon and Mylan from “relying upon or otherwise referring to” Roche’s anti-breast cancer drug ‘Trastuzumab’ that is marketed as ‘Herceptin’, ‘Herclontm’ and ‘Biceltis’.
OVL to bid for Tanzania oil block
NEW DELHI: ONGC Videsh Ltd, the overseas arm of ONGC plans to bid for offshore oil and gas blocks in Tanzania, Minister of State for Petroleum and Natural Gas Panabaaka Lakshmi informed the Lok Sabha. “ONGC Videsh Ltd is in the process of acquiring the data for the fourth offshore-licensing round in Tanzania,” the minister said, adding that the last date of submitting the bid for the blocks on offer is May 15, 2014. ONGC Videsh is also looking at oil and gas exploration with Russian partners. Russian exploration and production company Rosneft has offered nine exploration offshore blocks in Barents Sea Offshore and one in Black Sea to ONGC Videsh for joint exploration, Lakshmi said.
RBI against sector-specific loan recast
NEW DELHI: The Reserve Bank is against granting any sector specific special dispensation on restructuring of loans, Minister of State for Finance Namo Narain Meena said in the Lok Sabha. The minister also said IDBI Bank Ltd, SBI and Jammu & Kashmir Bank have sought special dispensation from the RBI on restructuring of accounts of Ratnagiri Gas and Power Pvt Ltd and GMR Rajahmundry Energy Ltd.
Nooyi, Kochhar in powerful bizwomen list
New York: PepsiCo CEO Indra Nooyi and ICICI Bank Managing Director Chanda Kochhar are among Fortune magazine’s list of 50 most powerful women in business who are “taking on the world” by pushing into new territories and inspiring women in their home countries. The list has been topped by General Motors CEO Mary Barra, the first woman to run a global automaker.