After a long wait, Mahindra and Mahindra along with BAE Systems has finally secured the approval from the Government of India's Foreign Investment Promotions Board, for the setup of Joint Venture (JV) in India, focused on land systems for the Indian market.

This is a key step in setting up the JV, and in accordance with current Foreign Direct Investment regulations, the equity split will be 74% with Mahindra & Mahindra and 26% BAE Systems.

Maytas Infra Limited, one of

Mumbai-headq

The US Food and Drug Administration (USFDA) has given its final approval to Matrix Laboratories to market Stavudine capsules in two different potencies including 30 mg and 40 mg.

Stavudine, an analog of thymidine, is a nucleoside analog reverse transcriptase inhibitor (NARTI), which is active against the human immunodeficiency virus (HIV). It is prescribed for combating HIV-1 infection together with other antiretroviral agents.

Hyderabad-based Maytas Infra Private Limited (MIPL), has announced that it has secured a project worth Rs 110 crore from the Southern Railways.

The company has received the said project in consortium with Chennai-based CT Ramanathan and Co. According to sources, the project has been awarded for doubling broad railway track between Chengalpattu and Villupuram in Tamil Nadu.

The health department of Canadian Government has allowed Aurobindo Pharma for submission of its abbreviated new drug, Gabapentin capsules in 100mg, 300mg and 400mg strengths.

Aurobindo Pharma is a Hyderabad-based manufacturer of generic pharmaceuticals and active pharmaceutical ingredients (APIs). The company is already supplying some generic drugs in the Canadian market. The recent approval by Canadian health body is the sixth approval received by Indian Pharmaceutical major.