Dr Reddy’s completes sale of US rights for 2 neurology products

Drug major Dr Reddy’s Laboratories on July 20 said it has completed sale of its US and select territory rights for two neurology products to Upsher-Smith Laboratories. The company has closed the transaction with Upsher-Smith Laboratories LLC, “pursuant to the satisfactory completion of all customary closing conditions including the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), as amended,” Dr Reddy’s Laboratories said in a filing to BSE. Under the agreement, Dr Reddy’s sold its US and select territory rights for Zembrace Symtouch (sumatriptan injection)…

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India’s retaliatory tariffs on 28 US products comes into effect

New Delhi: India has raised tariffs on 28 items exported from the US with effect from Sunday in retaliation to America’s withdrawal of preferential access for Indian products from 5 June. The final notification of tariffs issued by the finance ministry late on Saturday night, minutes before the tariffs came into force, does not include one item that was there in the earlier list, artemia, a type of shrimp. The commerce ministry had on Friday made public India’s intention to go ahead with imposition of duty on American products, a move…

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India imposes higher customs duty on 28 US products

The increased customs duties will come into effect from Sunday India on Saturday announced a hike in customs duties on as many as 28 US products, including almond, pulses and walnut, in response to higher tariffs imposed by Washington on Indian products like steel and aluminium. The increased customs duties will come into effect from Sunday, an official notification said. The move will hurt American exporters of these 28 items as they will have to pay higher duties, making those items costlier in the Indian market. Amending its June 30,…

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Apple’s Stock Price Slump Not of Concern, US President Donald Trump Says

Even as Apple’s shares fell after it lowered its revenue estimate for the first quarter of fiscal 2019, President Donald Trump has said he is not bothered about the tech giant’s concerns, the media reported. Claiming that Apple mostly makes its products in China, Trump told reporters at a White House news conference that he does not fear the impact of Apple’s stock on the US economy, CNBC reported on Friday. In a letter to investors on Wednesday, Apple CEO Tim Cook said that for the quarter ending December 29,…

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China upbeat ahead of US trade talks, but differences large

China has sounded a positive note ahead of trade talks this week with Washington, but the two sides face potentially lengthy wrangling over technology and the future of their economic relationship. Both sides have expressed an interest in settling their tariff fight over Beijing’s technology ambitions. Yet neither has indicated its stance has changed since a December 1 agreement by presidents Donald Trump and Xi Jinping to postpone further increases. Envoys will have “positive and constructive discussions” during meetings Monday and Tuesday, said Chinese Foreign Ministry spokesman Lu Kang. The…

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