Private-equity firm KKR has agreed to sell its entire 46% stake in India-listed J.B. Chemicals & Pharmaceuticals to Torrent Pharmaceuticals for $1.4 billion. Following this, the two pharmaceutical firms will merge. According to KKR, the Rationale for the Acquisition are: Access to Fast-Growing India Franchise: The acquisition grants Torrent Pharma...
Embraer Sees a Good Opportunity to Partner with India
Speaking at a panel discussion at the B20 Summit India 2023, president and CEO of Brazilian aircraft maker Embraer, Francisco Gomes Neto, expressed that he saw a good opportunity to partner with India to develop a strong aerospace industry in both the countries by synergizing their strengths. He recounted that...
U.S., India, 16 Allies Strengthen Supply Chains
U.S. Secretary of State Antony Blinken and Commerce Secretary Gina Raimondo co-hosted the Supply Chain Ministerial Forum virtually on July 19-20. A partnership was formed of 18 economies: the U.S. EU, Australia, Brazil, Canada, Congo, France, Germany, India, Indonesia, Italy, Japan, Mexico, Netherlands, South Korea, Singapore, Spain and the U.K....
India’s Own Covid-19 Vaccine is 81 Percent Effective
Yesterday, Hyderabad-based Bharat Biotech published interim results from the Phase 3 trial of it Covid-19 vaccine, branded as Covaxin. 25,8000 subjects participated in the trial. The trial found 43 cases of COVID-19 patients who showed symptoms ranging from mild to moderate and severe, and of the total cases, 36 were from...
Indian stent-maker acquires majority stake in Zarek, Brazil
Sahajanand Medical Technologies (SMT), based in Gujarat, India has acquired a majority stake in Brazil-based medical devices solution provider Zarek Distribuidora De Produtos Hospitalares for an undisclosed amount. SMT made the acquisition through its Irish subsidiary. Established in 2007, Zarek’s product portfolio includes interventional cardiology and endovascular products such as coronary...
Alstom Exports Driverless Trains Made in India
Australia’s first fully-automated rail service, the newly launched North West Line by Sydney Metro, has been made in India. The new-generation metro trains were manufactured by French multinational company Alstom in Sri City, an integrated business city located in India's southern state of Andhra Pradesh, thirty-five miles north of Chennai....