Pharmaceutical company Strides Acrolab has announced receipt of two ANDA approvals for Sterile vancomycin in HCL USP 500mg and 1g per vial and sterile Vancomycin HCI USP 5g per vial pharmacy bulk package.

The products are licensed to Akorn-Strides,LLC, which is a joint venture that was formed in 2004 by Akorn Inc. and Strides Arcolab Limited.

The world's fifth largest wind turbine maker, Suzlon Energy has increased its share in its German subsidiary REpower Systems. The company currently holds 73.71 percent stake in REpower and paid around Rs 447 crore to Portugal's Martifer SGPS for acquisition. Martifer holds 22.4 per cent stake in the German company. Suzlon Energy had to acquire these stakes to complete the deal before May 2009 as per agreement with Martifer.

The Anil Ambani-led Reliance Communications has launched nationwide GSM services from December 31. The company is already operating almost all telecom circles with its CDMA services. The company would cover 11,000 towns and 3.40 lakh villages across the country by investing Rs. 10,000-crore in the field of mobile telephony. Reliance Communications has received spectrum to roll out GSM services in January this year and has set a record to launch services within a record low period.

India’s fourth largest software export company, Satyam Computer Services suffered yet another blow with resignation of three more independent directors on its Board in the midst of rumor that the company’s founder chairman Ramalinga Raju may quit over Maytas deal disaster.

The company’s independent directors, M Rammohan Rao, who is Dean of Indian School of Business, Vinod Dham, a US-based technocrat widely regarded as “Father of Pentium” and Krishna G Palepu, professor of business administration at Harvard Business School, resigned from the nine-member Board.

Compucom Soft

Power transmission equipment manufacturer KEC International has received an order worth Rs 636 crore from Egyptian Electricity Transmission Company.

It is the largest contract the company has ever got. The order will be funded through the European Investment Bank and the Egyptian National Bank.

In a statement, the company said that the scope of the order includes design, supply and construction of circuit lines in Egypt. The total length of the Egyptian transmission lines will be 196 kilometers and the order is to be finished in 24 months.