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Global Market: Citi joins London's bullion clearing network in major precious metals expansion
Citi has joined London's over-the-counter gold market clearing network, becoming the fifth bank to do so. This significant move expands the bullion trade's settlement infrastructure, which handles approximately $160 billion in daily transactions. Citi's entry, the first in a decade, signals progress in making the market more accessible. The bank will now offer Loco London settlement for gold, silver, platinum, and palladium.
Glenmark advances multi-country Phase 3 clinical trial for Trastuzumab rezetecan
For patients with platinum-resistant ovarian cancer
LIC targets stronger market leadership as it approaches its platinum jubilee
LIC CEO R Doraiswamy stated the corporation will maintain its leadership in the life insurance sector and contribute to national development as it approaches its platinum jubilee. With a nearly 60% market share and substantial assets, LIC's growth is intertwined with India's economic progress, aiming to support the nation's 'Viksit Bharat' vision.
India raises price cap on cancer drugs to tackle shortage
India's drug price regulator has increased the ceiling prices of cancer drugs cisplatin and carboplatin by 50% to tackle shortages caused by a sharp rise in platinum costs. The National Pharmaceutical Pricing Authority (NPPA) approved the one-time hike in public interest after supply disruptions affected hospitals across the country.
Lenskart shares in focus as Goldman Sachs, Morgan Stanley, others purchase stake in Rs 1.960 crore block deal
Lenskart Solutions saw significant stake activity as marquee investors bought Rs 1,960 crore in a block deal, with Platinum Jasmine A 2018 Trust paring its holding. Despite recent exits, brokerages remain optimistic about Lenskart's long-term growth, citing its integrated model and international expansion.
Cancer drug prices raised 50% as NPPA acts on shortage concerns
India's drug pricing authority has approved a 50% price hike for essential anti-cancer drugs carboplatin and cisplatin. This decision follows pleas from manufacturers citing soaring platinum costs. Anti-tetanus immunoglobulin drug prices also see an increase. The National Pharmaceutical Pricing Authority invoked special powers to ensure these life-saving medicines remain accessible to the public.
Goldman Sachs, Morgan Stanley and others buy stake in Rs 1,960 crore Lenskart block deal
ADIA-backed Platinum Jasmine A 2018 Trust sold a 2.3% stake in Lenskart through a Rs 1,960 crore block deal. The transaction attracted strong participation from mutual funds, insurers and foreign investors, reflecting continued confidence in the eyewear retailer’s growth prospects.
After SoftBank, ADIA plans over $200 million Lenskart sell-down
Platinum Jasmine A 2018 Trust, an investment vehicle of the Abu Dhabi Investment Authority, is offering up to 40 million shares, representing approximately 2.3% of Lenskart's outstanding equity.
Lenskart Block Deal | Platinum Jasmine likely to sell 2.3% stake for ₹1,944 crore
Shares of Lenskart Solutions Ltd ended at ₹500.65, down by ₹2.75, or 0.55%, on the BSE.
Indian cancer patients battle shortage of key drugs as platinum costs surge
Cancer patients in India are struggling to find essential platinum-based drugs. A surge in global platinum prices and supply chain issues are causing shortages. This forces patients to search extensively for medication. Some drugmakers have reduced production. The situation puts immense pressure on the healthcare system and patients seeking treatment.
Regulator, cos discuss price hike for some cancer drugs
India's drug pricing authority may soon approve a price hike for vital platinum-based cancer medicines. These drugs, including carboplatin and cisplatin, are crucial for treating various cancers. The National Pharmaceutical Pricing Authority met with drug makers and hospital representatives to discuss the issue. Rising raw material costs have put pressure on production.
Maruti considers shielding small-car buyers from inflation-led price hikes
Maruti has implemented a price hike of ₹30,000 from June across all its models due to West Asia war-linked inflation, which has led to a surge in prices of commodities like steel, aluminium, and platinum group metals