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Finance panel clears seven IIMs, 10 NITs
The process of setting up of seven IIMs, 374 degree colleges and 10 NITs has been set in motion with the Expenditure Finance Committee (EFC) approving the proposals in this regard.

Astec LifeSciences IPO price fixed at Rs 82
Agro-chemical and pharma company Astec LifeSciences today said that it has fixed the price of its initial public offer at Rs 82 per equity share, the upper end of the price band.

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LG to invest Rs 25 cr in home appliances category
Consumer durables major LG Electronics today said it will invest Rs 25 crore in promotional activities of its home appliances during the festive season, as it targets a 30 per cent share in the segment by next year.
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H1N1 drug trial talks next week

Multinational drug firms Novartis, GlaxoSmithKline and Baxter are likely to initiate discussions with the Union health ministry next week on conducting clinical trials for H1N1 (swine flu) medicine. - SC issues notice to govt, others on Novartis petition - SC issues notices to Centre, others on Novartis petition - Novartis India to quadruple its business in 5 years - Novartis: Puppy power - Novartis" swine flu vaccine shows encouraging results - Novartis" swine flu vaccine show encouraging results The talks will include selection of sites, finalisation of trial modalities, price negotiation for vaccine supplies and advance placement of purchase orders. Senior government officials say the companies are expected to agree to the ministry demand for experimental studies on 600–800 humans before applying for marketing licences. Eight centres from across the country have been shortlisted for these studies. We are open to place advance purchase orders if they are willing to conduct clinical trials in the country; However, the prices will have to be negotiated, officials said. It is known that a single dose of H1N1 vaccine may cost between Rs 600 to Rs 800. Earlier, addressing a press conference, health minister Ghulam Nabi Azad said the MNCs will not be given marketing permission unless studies are conducted in India. “They wanted to avoid it, as trials are going on in other countries. But we will have them conduct bridging studies here before allowing them to introduce their vaccines,” Azad said.


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