Ranbaxy to launch Cipher?s acne drug

Ranbaxy Laboratories on Monday said it will launch Absorica, a patented acne treatment drug developed by Canadian firm Cipher Pharmaceuticals, in the American market during the fourth quarter of 2012, following approval from the US health regulator. The company’s a wholly-owned subsidiary Ranbaxy Laboratories (RLI) will be responsible for marketing the product in the US market. ?Through a business agreement with the Canadian firm, Cipher Pharmaceuticals, RLI is expected to launch Absorica in the US in Q4 2012,? Ranbaxy said in a statement.

WNS to open new facility in South Carolina

Mumbai-headquartered BPO firm, WNS Global Services, on Monday announced its plans to invest $4.25 million in South Carolina for setting up its first facility in the US in South Carolina, promising to create 750 jobs in the state governed by Indian-American Nikki Haley.

Indoco Remedies PAT at R12.53 crore for Q4

Indoco Remedies has recorded a growth of 22.4% in revenues at R147.66 crore for the fourth quarter of fiscal 2012 against R120.63 crore in the same quarter last year. Ebitda for the quarter stood at R24.6 crore against R20.04 crore last year. PAT was R12.53 crore for the quarter.

Sundram Fasteners FY12 profit at R112.60 cr

Auto components major and part of the TVS group, Sundram Fasteners, has reported a marginal growth in its net profit for the year ended March 31, 2012, to R112.60 crore against R105.43 crore in the previous financial year. The operating revenue and other income during the year grew sharply to R2,164.71 crore against R1,815.08 crore.

Bajaj Electricals net profit rises 48.5%

Appliances major Bajaj Electricals has posted a 48.5% rise in its net profit for the fourth quarter of FY12. The company?s Q4 net profit stood at R49 crore against R33 crore in the corresponding quarter last year. Its Q4 net revenue rose 33.5% to R1,060.2 crore compared to R793.6 crore in the corresponding quarter last year.

Bharat Forge Q4 net dips 45% at R55.12 crore

Auto component maker Bharat Forge on Monday reported a 45.23% decline in its standalone net profit at R55.12 crore for the quarter ended March 31, 2012, mainly on account of increased tax expenses and raw-material costs.

Tata Motors in distribution pact with Myanmar firm

Tata Motors on Monday said it has signed a distribution agreement with Apex Greatest Industrial (AGI), Myanmar, for selling its commercial vehicles and passenger cars in the country.

Jubilant wins exploration block in Myanmar

London-listed oil explorer Jubilant Energy has won an on-land exploration block in Myanmar, the agreement for which was signed on Monday. ?Jubilant Energy (was) awarded block no PSC-I under the Myanmar onshore blocks bidding round in 2011,” the company said in a release.

Gunnebo India gets licence for fire extinguishers

Gunnebo India, a subsidiary of Gunnebo AB Group, Sweden, recently acquired licences from the Bureau of Indian Standards (BIS) for its Minimax brand of fire extinguishers. Gunnebo is the first company in India to receive this licence, post the new standards for fire extinguishers.

McLeod Russell net loss pegged at R157.39 crore

McLeod Russell has posted a net loss of R157.39 crore for the quarter ended March 2012 against a loss of R123 crore for thecorresponding period the previous fiscal. Net profit for 2011-12 for the company was R220.28 crore against R232.23 crore, down by 5%.

Piramal Healthcare director on Harvard board

Piramal Healthcare director Swati Piramal has been elected as a member to the Harvard board of overseers. The?board oversees all Harvard?schools, including business, health, law, medicine, dental, divinity, government, design, arts and sciences.

Trent?s net doubles, revenues up 21%

Trent, the retail arm of Tata Group, which operates department store Westside and hypermarket Star Bazaar, posted a two-fold increase in its net profit for the March quarter of 2012 at R19.53 crore compared to R9 crore last year. The company’s revenues grew 21% year-on-year to R199 crore from R165.26 crore.