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Edserv Softsystems gets shareholders' nod for raising funds
Education solutions provider Edserv Softsystems today said it has received approval from its shareholders to raise funds through various options, including issuing securities of up to $500 million (about Rs 2,200 crore) in the overseas market.

ONGC jumps on fuel price hike
The ONGC scrip rose 7 per cent to close at Rs 1,126.45 on fuel price hike. The government raised the price of petrol by Rs 4 a litre and diesel by Rs 2 after market hours on July 1. Following the hike, experts believe that the ONGC"s subsidy burden for the current year would reduce if the crude prices stay at around $70 a barrel. The stock opened at Rs 1,081.1 and made a high of Rs 1,155.7 and a low of Rs 1,076.1. The total traded volumes stood at 1.9 million shares (around 4 times its two-week average).

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New vet drug threat to Indian vultures
A veterinary anti-inflammatory drug, ketoprofen, can be lethal to Indian vultures that eat the carcasses of treated livestock, an international team of scientists has said.
Management

Bharat Biotech gets patent for Lysostaphin

Hyderabad-based vaccines and biotherapeutics manufacturer Bharat Biotech International announced on Wednesday that its anti-staphylococcal molecule Lysostaphin had secured patent rights in US, Europe, China, Australia and other nations. - Opto Circuits" US arm signs multi-year supply contract with US firm - Vitamins, diabetic drugs to cost more - Abbott India Aug qtr net up 26% to Rs 22.21 cr - UAE drug firm gets nod for production of swine flu medicine - Bharat Biotech to test swine flu vaccine in 2 months - Glenmark Pharma raises Rs 413 cr through QIP Lysostaphin is a potent anti-staphylococcal therapeutic with a targeted specificity against staphylococcus aureus, which causes a range of diseases including wound infections, systemic and life-threatening conditions (endocarditis), osteomyelitis, pneumonia, brain abscesses, meningitis and bacteremia, food poisoning, scalded skin syndrome and toxic shock syndrome. Krishna Ella, chairman and managing director, said the patent rights for lysostaphin was a significant milestone in the company"s new therapeutic product development programme and would pave a way to develop products for regulated markets in addition to India. A pre-investigational new drug application meeting of the pre-clinical data has already been held with USFDA, he said. Lysostaphin is bactericidal and is indifferent to antibiotic resistance. "Lysostaphin could be a drug of choice for treating life threatening bacteremia,"" he said. The company so far has eight Indian and five international patents. Bharat Biotech is currently developing swine flu vaccine to combat H1N1 virus epidemic in India and other countries, according to a release.


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