By KS Badri Narayanan Comments READ LATER Shareholders of Nestle India Ltd have rejected a proposal by the company to increase royalty payment to its parent firm, according to a regulatory filing by the company. The board had last month approved increasing royalty payment to its parent firm Societe des Produits Nestle S.A (licensor) by 0.
15 per cent per year for the next five years thereby enhancing it to 5.25 per cent of net sales. It had proposed to start the 0.
15 per cent per annum increase over the current royalty fee of 4.5 per annum from July 1, 2024. Subsequently, it had sought approval from its shareholders of the same as an ordinary resolution through a postal ballot.
Drug makers Dr Reddy’s Laboratories , Sun Pharmaceuticals and Aurobindo Pharma are recalling products in the US market due to manufacturing issues, as per the latest Enforcement Report of the US Food and Drug Administration (USFDA). Dr Reddy’s Laboratories is recalling close to 20,000 cartons of a medication used to control blood phenylalanine levels in adults and children. Princeton (New Jersey) based Dr Reddy’s Laboratories, Inc, is recalling Javygtor (sapropterin dihydrochloride) Powder for Oral Solution (100mg) due to it being a “Sub-potent Drug”, USFDA stated.
The company is also recalling another lot of sapropterin dihydrochloride for the same reason, it added. The USFDA said the drug maker initiated the Class I recall in the US on April 8 this year. Orient Green Power Company plans to r.