Swiss pharmaceutical giant Novartis on December 12 said its Global Drug Development (GDD) centre in Hyderabad is playing a much larger role in supporting global drug development work and helping the company to file for more drugs in India.Arno Tellmann, Head Global Drug Development India, told Moneycontrol that the GDD over the years has evolved from just being a back office support function to playing a much bigger role in drug development work of Novartis."It (GDD-India) plays a quite a significant role in terms of all global development function are represented in India. It starts from clinical research and development, regulatory affairs, patient safety, and clinical trials and data management operations," Tellmann said.Close Tellman, who took charge of the GDD in 2018, said he saw the GDD growing from 50 associates to 2,000 associates in last 12 years. related news Wall Street opens lower as Apple weighs, trade deadline looms SBI Cards to list commercial paper on … [Read more...] about Novartis sees larger India role in its drug development value chain
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Indian market witnessed a late recovery in the second half of the trading session on Wednesday which pushed the S&P BSE Sensex by nearly 200 points while the Nifty50 reclaimed 11900 levels.Let’s look at the final tally on D-Street – the S&P BSE Sensex rose 172 points to 40,412 while the Nifty50 closed with gains of 53 points to 11,910 on Wednesday.Close Sectorally, the action was seen in Oil & Gas, IT, as well as realty space while profit-taking was witnessed in capital goods, telecom, and metal stocks. related news In The News podcast | Massive protests against CAB in Northeast; Rohingya massacre case at ICJ; UK elections 2019 and more MC Special podcast | Banking lessons from the PMC Bank fraud case Taking Stock: Bulls charge D-St! Ujjivan Small Finance up 50% on listing day What to watch out for on Thursday?Well, after a massive 166 times subscription to its initial public offering (IPO), all eyes are now on the listing of Ujjivan Small Finance … [Read more...] about Early on D-Street | Bullish momentum to strengthen if Nifty manages to hold 11,832
Pakistan said that the Asian Development Bank (ADB) plans to invest USD 2 billion in the energy sector in the country during the next three years.The announcement was made after an ADB team headed by Director General for Central and West Asia Department Werner Liepach met with Power Minister Omar Ayub Khan and Special Assistant to the Prime Minister on Petroleum Nadeem Babar here.The ADB's Country Director Pakistan, Xiaohong Yang, was also present during the meeting.Close "ADB remains top energy sector partner with USD 2.1 Billion portfolio with USD 300 million released this week for sector reform including addressing the circular debt," according to an official statement by Pakistan. related news BoJ deputy governor warns of risks, signals easy policy bias Fed keeps rates on hold, points to 'favorable' economic outlook next year Huawei wins contract to develop German 5G network It said that the meeting took stock of ADB funded projects in the energy sector and it was … [Read more...] about ADB to invest $2 billion in energy sector over next three years: Pakistan
India's mutual fund space witnessed an interesting dichotomy in November.Net inflows into equity mutual funds (MFs), including closed-ended schemes, stood at a mere Rs 933 crore against Rs 6,015 crore in the previous month, latest data released by the Association of Mutual Funds in India (AMFI) shows.On the other hand, investment in equity funds through systematic investment plans (SIPs) saw a strong momentum at Rs 8,273 crore.Close The fall in equity MFs net inflow is primarily due to redemptions in value funds, multi-cap funds and sectoral funds. related news Market Headstart: Nifty likely to open higher on Fed status quo; Ujjivan Small Finance Bank eyed Bharat Bond ETF can help low-risk investors diversify with 10-20% allocation This multiplex stock jumped 47% in 2019 despite slump in consumer spending Overall, the mutual fund industry saw its total asset under management (AUM) hitting Rs 27 lakh crore as of November from Rs 23.59 lakh crore a year ago. That represents a … [Read more...] about Equity inflows drop but SIP figures at all-time high; what should you do?
Edelweiss Mutual Fund on December 12 launched the new fund offer of India's first corporate bond ETF (exchange-traded fund) called Bharat Bond ETF.Subscription to this scheme will remain open until December 20.This ETF is an initiative of the Government of India, from the Department of Investment and Public Asset Management (DIPAM).The DIPAM had given the mandate to design and manage the Bond ETF to Edelweiss Mutual Fund.The Bharat Bond ETF will have a definite maturity period, just like the one for a closed-end mutual fund scheme. ETF units will be listed on stock exchanges.An ETF is a mode of investment that comprises a basket of stocks or bonds that are traded, similar to individual stocks, on an exchange during regular trading hours. An ETF is comparable with an index fund, except that the ETF is listed on the stock exchange and is traded.The scheme will have two variants - one maturing in three-years (2023) and the other in 10 years (2030).The ETF with a three-year maturity … [Read more...] about Edelweiss AMC announces public issue of Bharat Bond ETF; to raise up to Rs 15,000 cr