Limit on cold remedies for kids was FDA's idea - The Associated Press
eFluxMediaLimit on cold remedies for kids was FDA's ideaThe Associated Press - 9 hours agoWASHINGTON AP - When drug makers made a surprise announcement this week that they no longer re...
2008-10-11 03:00:00Indian equities tank seven percent in day-long mayhem Roundup
BUS20Business/EconomyIndian equities tank seven percent in day-long mayhem RoundupMumbai, Oct 10 IANS As fears over the impact of the global financial crisis on the Indian economy escalated Friday, a key Indian equities index closed with one of its steepest losses in recent months, with interventions by the government, the central bank and the markets watchdog having little impact to lift the battered sentiments.The sensitive index Sensex of the Bombay Stock Exchange, which at one point was down 1,088.60 points, made a marginal recovery to end at 10,527.85 points - but still down 800.51 points, or 7.07 percent, over the previous close.The situation was no different at the National Stock Exchange NSE where the broader S&P CNX Nifty index was down 6.65 percent at 3,279.95 points, over the previous close at 3,513.65 points."The fatal fall in the markets today was due to the acceleration of outflows by foreign funds, amid fears of credit crisis in the West," said, Ashok Jainani, head of research with leading brokerage, Khandelwal Securities."This fall was in line with what is happening across the globe. With foreign funds being major players, Indian markets cannot remain insulated from the financial meltdown," added Nagendra Bhatnagar, chief executive of IDBI Capital.Foreign funds have been net sellers of equity to the extent of $10 billion during the current year. Each of the 13 sector-specific indices of the Bombay Stock Exchange BSE ended in the red, while just two out of 30 scrips that make up the Sensex managed to buck the trend.India's largest pharmaceuticals company Ranbaxy Laboratories, with a gain of 4.71 percent, and the country's largest commercial bank, the State Bank of India, up 2.27 percent, were the only two Sensex scrips that ended in the positive territory.Reliance Communications, down as much as 21.02 percent, ICICI Bank, down 19.71 percent and Reliance Infrastructure, down 19.26 percent, led the losers in what analysts termed as a bloodbath in the Indian share markets.Indian's main equities market, which was not too long ago among the best performers within emerging economies, has shed some 28.20 percent in the past month and 43.58 percent over the past year, data with the BSE showed.In the past week alone, the 30-share Sensex, often taken as a barometer of the performance of Indian equities, has shed 15.95 percent.The markets opened very weak Friday and within minutes into trading, the Sensex had fallen by 1,088.6 points to 10,239.76 points, the single largest intra-day fall since Jan 22, 2008, when it had shed 1,111 points.Sensex Snapshots:Friday Open: 10,632.27Friday Close: 10,527.85Friday High: 10,904.13Friday Low: 10,239.76Previous Close: 11,328.36Change in points: -800.51Change in percentage: -7.0752 week fall in percentage: -43.58Change of small-cap percentage: -7.31Change in mid-cap percentage: -8.34Top gainer: RanbaxyTop loser: Reliance Communications Soon after trading commenced Friday, Finance Minister P. Chidambaram announced the formation of a panel under Finance Secretary Arun Ramanathan to study the impact of the global financial turmoil on the Indian economy that will give a report within a year.This was soon followed by a reduction of 100 basis points in the cash reserve ratio CRR for commercial banks to increase liquidity in the markets, which came on the back of a 50 basis points cut that was announced by the central bank Monday. The markets watchdog also said there was no problem of settlements.Even as the markets were responding to these interventions, news came that the country's industrial production had grown by a mere 1.3 percent in August and put paid to all positive observations on the robustness of the Indian economy, especially by the finance minister."It's a bad situation. Fundamentals don't work at such times. It's a cyclical chaos where more liquidity in the market means inflation will go up and less liquidity means money market will be affected," said Bijay Murmuria, director of Kolkata-based Sumedha Fiscal Services and president of the Association of National Exchanges Members of India ANMI.“The CRR cut by the RBI is actually causing more worry because if instead of a one-off measure this is the beginning of a regime of liberal policies in India, then the repercussions will be even more severe,” said analyst Jagannadham Thunuguntla.“That India's banking system is still sound is only because the previous RBI governor Y.V. Reddy refused to adopt liberal policy measures throughout his entire tenure despite repeated requests to do so in face of the bull market,” Thunuguntla, the head of the capital markets arm of India's fourth largest share brokerage firm, the Delhi-based SMC Group, told IANS."Although there is a desperate need for liquidity in the system the RBI should make sure that Indian banks do not go overboard on their loan-deposit ratios like the US and European banks," echoed portfolio strategist and US-trained chartered financial analyst Manoj Krishnan of Delhi-based Price Investment Management and Research Services.--Indo-Asian News Servicearj-ap/jg898 Words*10101725
2008-10-10 08:02:08'Vitamin D a major contributor in overall health of body organs'
Washington, Oct 10 ANI: Once linked to bone diseases such as rickets and osteoporosis, vitamin D has now been considered to play a major role in contributing to overall human health, says UC Riverside's Anthony Norman, an international expert on vitamin D.He found that vitamin D maintains good health in the adaptive and innate immune systems, the secretion and regulation of insulin by the pancreas, the heart and blood pressure regulation, muscle strength and brain activity. Also, it is also believed that access to adequate amounts of vitamin D could be beneficial towards reducing the risk of cancer.In his study, Norman also enlisted 36 organ tissues in the body whose cells respond biologically to vitamin D, which include bone marrow, breast, colon, intestine, kidney, lung, prostate, retina, skin, stomach and the uterus.In his opinion, deficiency of vitamin D can impact all 36 organs. Vitamin D deficiency has already been linked with muscle strength decrease, high risk for falls, and increased risk for colorectal, prostate and breast and other major cancers."It is becoming increasingly clear to researchers in the field that vitamin D is strongly linked to several diseases. Its biological sphere of influence is much broader than we originally thought. The nutritional guidelines for vitamin D intake must be carefully reevaluated to determine the adequate intake, balancing sunlight exposure with dietary intake, to achieve good health by involving all 36 target organs," said Norman. He added: "To optimize good health you must have enough vitamin D," he said. "Vitamin D deficiency is also especially of concern in third world countries that have poor nutritional practices and religious customs that require the body to be covered from head to toe. Ideally, to achieve the widest frequency of good health by population, we need to have 90 percent of the people with adequate amounts of vitamin D."Not only does vitamin D deficiency impacts health negatively, extremely high doses of vitamin D can also cause hypercalcemia, a condition in which the blood's calcium level is above normal. The highest daily 'safe' dose of vitamin D is 10,000 IU."More than ever we need to increase the amount of research on vitamin D, with more funding from government agencies and pharmaceutical companies, to meet the challenge of preserving or improving the health of everyone on the planet," said Norman. The study is published in a recent issue of the American Journal of Clinical Nutrition. ANI
2008-10-10 02:54:38Genentech, OSI Pharma: Avastin In Combination With Tarceva Fails To Improve Survival Rate Of Non-small Cell Lung Cancer Patients - Update
Early Monday, Genentech Inc. DNA and OSI Pharmaceuticals Inc. OSIP announced that the combination of Avastin and Tarceva as second-line treatment for advanced non-small cell lung cancer did not meet t...
2008-10-08 15:44:11Genentech Set Back by Cancer-Drug Study - Wall Street Journal
The Money TimesGenentech Set Back by Cancer-Drug StudyWall Street Journal - 18 hours agoGenentech Inc. and OSI Pharmaceuticals Inc. said a late-stage trial showed that adding the cancer m...
2008-10-07 18:00:00Tokyo, Oct 7 Xinhua Tokyo stocks closed sharply lower Tuesday with the key Nikkei index briefly dipping below the 10,000 mark for the first time since December 2003.
BUS19BusinessTokyo stocks close sharply lowerTokyo, Oct 7 Xinhua Tokyo stocks closed sharply lower Tuesday with the key Nikkei index briefly dipping below the 10,000 mark for the first time since December 2003. The benchmark Nikkei-225 Stock Average lost 317.19 points, or 3. 03 percent, from Monday to 10,155.90 at its close. In the afternoon Nikkei trimmed some losses after hitting a new low of 9,916.21 in nearly five years in the morning, down 556.88 points, or 5.32 percent. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 21.44 points, or 2.15 percent, to 977.61. On the First Section, declining issues outnumbered advancing ones 1,356 to 315, with 42 others remaining unchanged. Stocks fell across the board. Decliners are led by pharmaceutical, transport equipment, and forestry and fishery issues. Only five sectors gained ground, namely pulp and paper, real estate, insurance, iron and steel, and miscellaneous. The fall was following a more than four percent drop Monday in Tokyo. The Dow Jones index also dipped below 10,000 points for the first time in four years overnight. The overall sentiment on the market is bearish. Dealers believed the worst are yet to come as there is no clear sign of bottoming out. The Nikkei already lost more than 1,200 points from last Thursday to Tuesday. Japan's central bank Tuesday decided to keep the interest rate unchanged at 0.5 percent for a consecutive 20th month, giving consideration to worsening economic situations. The Second Section index was down 83.63 points, or 3.94 percent, to 2,037.52 on a volume of 88.12 million shares. On the Osaka Securities Exchange, the near-term December Nikkei 225 index futures contract was down 240 points to 10,210.--Xinhuadkg/dg335 Words07101434
2008-10-07 05:05:08India, Bahrain to sign healthcare agreement
INT53International/Diplomacy/HealthIndia, Bahrain to sign healthcare agreementDubai, Sep 30 IANS India and Bahrain are set to sign a bilateral agreement for the development of small and medium healthcare enterprises in that Gulf nation.Minister of State for External Affairs E. Ahamed, who was on a two-day visit to Bahrain, said that a memorandum of understanding MoU would be signed between the two countries when India's Health Minister Anbumani Ramadoss visits Bahrain."Anbumani Ramadoss may visit Bahrain soon to sign the MoU," Ahamed told reporters in Manama."The Mou will establish guidelines for recruiting doctors and nurses from India to Bahrain and encourage Bahrain's health ministry to benefit from India's surgical facilities of international standard," he added.According to Ahamed, under the terms of the proposed agreement, imports of drugs, pharmaceutical products and medical equipment from India to Bahrain will also see an increase.As for cooperation in other economic fronts, the minister said that both Bahraini and Indian businessmen have identified areas for investment. He said that Bahrain's Minister for Social Development Fatima Al Beloushi had also expressed interest in India's agriculture technology and small and medium enterprises during her visit to India earlier this year. "I have also expressed India's interest in being a party to the development of Bahrain in the science and technology realm," he said. During the course of his visit, Ahamed also met his Bahraini counterpart Nazar Al Baharna. Al Baharna said that Bahrain looked forward to India's support for various training projects. "We are ready to share the expertise of our world-class training institutes with Bahrain," Ahamed said.Bahrain is home to around 290,000 expatriate Indians.--Indo-Asian News Serviceab/mv/dg298 Words*30091523
2008-09-30 06:00:00Orchid bags more than $100 mn Merck deal
BUS10Business/BusinessOrchid bags more than $100 mn Merck dealChennai, Sep 29 IANSA wholly-owned subsidiary of Indian drug major Orchid Chemicals and Pharmaceuticals Ltd OCPL has bagged a more than $100 million deal with US drug giant Merck & Co, for drug discovery, development and commercialization, a top OCPL official said here Monday.The deal was signed between the OCPL subsidiary Orchid Research Laboratories Ltd and an affiliate of the $24.2 billion turnover US drug giant Merck called MSD Pharmaceuticals Pvt Ltd. OCPL is a city based Rs.12.40 billion turnover globally recognized, integrated pharmaceutical company with core competencies in the development and manufacture of Active Pharmaceutical Ingredients APIs and finished dosage forms as well as in drug discovery."Orchid Research will undertake anti-infective drug discovery and candidate developments through phase II a human clinical trials. Merck will conduct late-stage clinical development and commercialization once regulatory approval is granted," C.B. Rao, deputy managing director, Orchid Chemicals told reporters here Monday.According to him, Orchid Research will be paid an undisclosed upfront sum and payments on achieving milestones."The total receipts will be over $100 million during the development stage. In addition when the drug is developed and passes through clinical trials, Orchid Research will license Merck to manufacture and sell world-wide for which there will be additional payment," said K. Raghavendra Rao, managing director.Orchid Research will form a 20 member team for the Merck project.According to Raghavendra Rao, the research arm is not in a hurry to raise cash for operations."The parent company will infuse necessary money. We will look at selling minority stakes to others a year later. With sufficient successful projects we can get better valuation," he added.He is confident that the $18 million foreign currency convertible bonds FCCB that would mature in 2010 would be converted into equity rather than being redeemed."The conversion price is Rs.240. The difference between the current market price of our scrip around Rs.217 and the conversion price will be bridged," he said.He said Indian drug major Ranbaxy Ltd. has not approached Orchid Chemicals for using the latter's facility for production. It may be noted one of Ranbaxy's arms holds 13.3 per cent stake in Orchid Chemcals.--Indo-Asian News Servicevj/arj/dg407 Words29091706
2008-09-29 08:00:09Global Jain business forum to open Dubai chapter
INT20International/BusinessGlobal Jain business forum to open Dubai chapterDubai, Sep 26 IANS In a bid to explore business opportunities in India and the United Arab Emirates UAE, a global Jain business forum will open a new Dubai chapter this month. The Jain International Trade Organisation JITO, comprising Jain businessmen, industrialists, knowledge workers and professionals from across the world, has announced that the new Dubai chapter will be opened in the course of a conference here Sep 26-28. "This is where in the business opportunities in India and UAE will be explored and industry wise B2B group meetings and group visits to relevant locations, including sector wise meetings, shall be arranged with respective authorities for sectors like real estate, information technology, diamond, gems and jewellery, construction, gifts and novelties, finance and banking, automobiles, metals, chemicals and pharmaceuticals, textile and garments, electronics and home appliances," JITO said in a statement. The objective, it said, would be to create and enhance knowledge about all kinds of trade. During the course of the event in Dubai, business opportunities in India, Dubai and countries with JITO chapters will be discussed at large. Global consultancy firm KPMG's Mumbai and Dubai chapters will make presentations as also will other dignitaries in Dubai. JITO will also unveil its JITO Vision 2010-2015, which is aimed at enhancing the knowledge wealth of the Jain community. Industry wise B2B group meetings and group visits to relevant locations will also be organised. There will also be meetings with respective authorities in Dubai for sectors like real estate, IT, jewellery, finance market and textiles. The Mumbai-based JITO is registered as a public limited company under Section 25 of India's Companies Act, according to its website. It has a broad-based governing council including 24 officebearers from different zones in India and 24 from international zones. "Through mutual interactions, JITO wishes to establish a network to plan, strategise and open avenues for a world-class organization of Jains, united to achieve higher economic prosperity and take care of the underprivileged and enrich humanity with a world free of violence, poverty and disease," the JITO statement said. --Indo-Asian News Serviceab/sh/jg384 Words26091019
2008-09-26 01:04:06NRI launches website on health and nutrition
CALIFORNIA: Pratap Suryadevara, an NRI, launched a website, mynutritionandheal th.com, on health and nutrition recently at Shiva temple, Livermore, California. Pratap is a native of Amaravathi, Andhra...
2008-09-22 15:29:12
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