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Sensex breaks 3-day winning streak
The Sensex opened flat at 17,032 owing to subdued cues from the global markets. The index touched a high of 17,099 and continued to swing between alternate zones of red and green. The index slipped to a low of 16,958. The BSE benchmark ended at 16,998, down 52 points. The NSE Nifty settled flat at 5,054.

Kotak Mahindra partners OIFC to offer wealth mgt
Kotak Mahindra Group has partnered with Overseas Indian Facilitation Centre (OIFC) to offer wealth management advisory and investment services for NRIs.

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Gunning forward
A new “old” Royal Enfield is born. We ride the Enfield Classic.
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Glenmark faces patent infringement case in US

Drug maker Glenmark Pharmaceuticals today said it was facing a lawsuit in a US District Court for a patent infringement case of an anti-malaria product. - Glenmark"s drug fails clinical trials - GSK to launch 5-6 products in current year - Glenmark confirms Smithkline's lawsuit in US - Volume growth, lower input costs help FMCG companies - Glenmark gets US nod for ointment - Horlicks stretches out Smithkline Beecham Corporation, a part of global pharma major Glaxosmithkline (GSK), has filed a patent infringement lawsuit on the company’s US subsidiary Glenmark Generics Inc in the District Court of Delaware, the Mumbai-headquartered firm said in a statement to stock exchanges. The lawsuit is in connection with Glenmark’s intention to make generic versions of two tablets — Atovaquone and Proguanil hydrochloride — on which GSK holds a patent right. GSK currently markets their product as ‘Malarone’ in the US for the treatment of malaria. According to an estimate, for the 12 months ended June, total sales of the product in the US is about $53 million. In the event of Glenmark’s successfully challenging GSK’s patent, the company would be entitled for a 180-days exclusive marketing right of these tablets in the US. Glenmark has already filed an application before the US Food and Drug Administration (FDA) for manufacturing the generic versions of Atovaquone and Proguanil. The company believes it is the sole first applicant for these tablets.


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