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Vedic row: Alleged land shark among 6 arrested
A man allegedly involved in illegal land acquisition for the controversial Vedic village resort near New Kolkata township was arrested along with five others from Bankura by a North 24 Parganas police team today.

RIL sells 10.5 mn equity shares
Reliance Industries (RIL) held Petroleum Trust has sold 10.5 million equity shares of the company today. Reliance Industrial Investments and Holdings, a wholly owned subsidiary of RIL, is the sole beneficiary of the Trust.

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IOCL to double investments on R&D
State-run Indian Oil Corporation (IOCL) has proposed to double its investments on its Research and Development in order to develop newer technologies, a top company official said today.
Management

Sun Pharma settles patent dispute with Astra Zeneca

Sun Pharmaceutical Industries has settled a patent dispute with MedImmune, a unit of drug major Astra Zeneca, to dismiss an ongoing litigation in a US District Court. This was on patent rights of Ethyol (amifostine), a drug used to reduce toxicities associated with chemotherapy and radiation in head and neck cancers. - Daiichi wins court battle against Mylan, Matrix - RPG Life Sciences launches its 5th biotech product, Sirolimus - Sun Pharma uses own plants for US market after after Caraco trouble - Aurobindo gets tentative nod for anti-dementia drug - Aurobindo gets USFDA nod for two new drugs - Lawsuit filed against Sun Pharma"s US arm Under the agreement, MedImmune has granted Sun Pharma a licence to certain patents, permitting Sun Pharma to continue marketing its generic version of Ethyol in the US. Sun Pharma had got US Food and Drug Administration (USFDA) approval for the drug in March 2008 and had launched the product ‘at risk’ in the US market. This followed a marketing application to market a generic version of amifostine for injection, challenging the patent. Ethyol has annual sales of approximately $80 million in the US. Medimmune had filed a suit in the District Court of Maryland against Sun Pharma, following challenge to its patents. Sun Pharma, being the first-to-file an Abbreviated New Drug Application (ANDA) for generic Ethyol with a para IV certified patent challenge, has a 180-day marketing exclusivity in the US market. Sun Pharma’s product is being sold in the US by its marketing partner, Caraco Pharmaceutical Laboratories. Ethyol is covered under three patents and the main two patents will expire in the US by July 31, 2012. The third patent has validity till December 8, 2017.


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