LONDON: Babcock Team 31, led by Babcock Aerospace and Defence Company, has been selected by the UK Ministry of Defence as preferred bidder to deliver its newest fleet of warships. The Type 31 general-purpose frigate programme will provide the UK with a fleet of five ships, at an average production cost of £250 million per…
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Corporate Sector, Industry, Singapore Exchange, News Releases
Mitie Group secures IFM contract extension with Lloyds Banking Group
LONDON: Mitie Group has been awarded an extension to its contract to provide integrated facilities management (IFM) services to Lloyds Banking Group (LBG). Mitie has been delivering IFM services to LBG since 2012 under a transformational partnership and this agreement extends the partnership through to the end of 2024. The extended contract represents a step…
Hemogenyx scientific advisor receives Lasker Award
BROOKLYN: Hemogenyx Pharmaceuticals announced that H. Michael Shepard, a member of Henogenyx’s Scientific Advisory Board, has been awarded the 2019 Lasker-DeBakey Clinical Medical Research Award. The award is given annually for biological discoveries and clinical advances that improve human health. The Lasker Awards are America’s most prestigious medical research awards, the US Nobel. This year’s…
Glenmark Pharmaceuticals receives ANDA approval for Clobetasol Propionate Foam
MUMBAI, INDIA: Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Clobetasol Propionate Foam, 0.05% (Emulsion Formulation), a generic version of Olux®1‐E Foam, 0.05%, of Mylan Pharmaceuticals Inc. According to IQVIATM sales data forthe 12 month period ending July 2019, the Olux®‐E Foam, 0.05%…
SGX reports market statistics for August 2019
SINGAPORE: Singapore Exchange (SGX) released its market statistics for August 2019. Market participants continued to use SGX’s suite of risk-management tools to manage their positions across multiple asset classes as concerns over the outlook for both developed and emerging economies intensified. With ongoing US-China trade tensions, a yield-curve inversion in the US bond market –…
Futura signs collaboration to explore transdermal delivery of Cannabidiol DermaSys
LONDON: Futura Medical plc, a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® drug delivery technology and currently focused on sexual health and pain, made a joint venture collaboration with CBDerma Technology Limited to explore the application of Futura’s advanced proprietary transdermal drug delivery technology, DermaSys® for delivery of…
Sumitomo Dainippon Pharma and Roivant Sciences to form strategic alliance
TOKYO: Sumitomo Dainippon Pharma has entered into a Memorandum of Understanding for a strategic alliance with Roivant Sciences Ltd. Roivant is expected to receive a total of US$3 billion (approx. ¥320 billion) from Sumitomo Dainippon Pharma, subject to final agreement between the parties. The Memorandum of Understanding is generally non-binding with the exception of exclusivity…
Essentra acquires Nekicesa Packaging
LONDON, UK: Essentra plc has acquired 100% of the share capital of Nekicesa Packaging S.L. from GED Iberian B, F.C.R. and EBN Vaccaria, F.C.R. for an undisclosed cash consideration. With two well-invested facilities in Madrid, Nekicesa is one of the leading converters of folding cartons supplying the pharmaceutical end-market in Spain and will be reported…
MPL wins £5.5 million contract with Tata Projects and Daewoo Engineering
MUMBAI: Mercantile Ports & Logistics (MPL) announced that its wholly owned subsidiary Karanja Terminal and Logistics Private Limited (KTLPL) has signed a binding contract with Tata Projects Limited and its joint venture partner Daewoo Engineering and Construction. Mercantile Ports & Logistics (MPL) is developing a modern port and logistics facility in Navi Mumbai, Maharashtra, India….
Ratings of insurance companies under review in aftermath of Hurricane Dorian
LONDON: Rating agencies have placed the credit ratings under review with developing implications for the major property, casualty and life/health insurance companies operating in the Bahamas. These rating actions are a result of the devastation caused by Hurricane Dorian and the limited information that is currently available with regard to loss of life and property,…
Sembcorp announces divestment of subsidiary in Australia
SINGAPORE: Sembcorp Industries announced that the Group has divested its entire stake in Sembcorp Energy Australia Pty Ltd (SEA), formerly known as Vellocet Clean Energy Pty Ltd (VCE), in Australia. The Group has sold its 81.3% stake to Achievement (S) Pte Ltd, the existing shareholder of the company for a nominal sum of A$10 (approximately…
X5 Retail Group opens logistics facility in Siberia
NOVOSIBIRSK: X5 Retail Group, a leading Russian food retailer, has expanded its logistics infrastructure in the Siberian Federal District with a Pyaterochka distribution centre (DC) in Novosibirsk. The 38,500 sq m Tolmachevo DC will be used by Pyaterochka stores in the Novosibirsk, Omsk, Tomsk and Kemerovo regions, Krasnoyarsk and Altai territories, and the republics of…