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    Lupin received tentative approval from the US health regulator for its Tadalafil tablets, indicated for treating erectile dysfunction and prostate gland enlargement. The clearance from the United States Food and Drug Administration (USFDA) is for marketing Tadalafil tablets in strengths of 2.5 mg, 5 mg, 10 mg, and 20 mg, in the US, Lupin said in a statement. The product is a generic version of Eli Lilly and the company's Cialis tablets in the same strengths, it added.
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    Shares of Hindalco lost around 8 percent afternoon after reports emerged that it is likely to acquire Aleris for USD 2.5 billion. According to sources the company and its Canadian arm, Novelis, is in process of raising debt for the said deal. Investors may have taken note of this point as the firm already has a consolidated net debt of Rs 40,000 crore. Further, the report added that the companies agreed on terms of the deal last week.Hindalco is said to be exploring an option of American Depository Receipts (ADRs).
     Shares of Sterlite Technologies fell 5.5 percent despite better numbers declared by the company in the quarter ended June 2018.The company's consolidated Q1FY19 net profit was up 7 percent at Rs 121.71 crore against Rs 112.42 crore in Q4FY18.Revenue of the company rose 3.5 percent at Rs 877 crore against Rs 847 crore. Operating profit or EBITDA was up 11 percent at Rs 245 crore and margin was at 27.9 percent.
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  1. sandeepNovember 20, 2020 at 4:40 AM



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