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GENEVA: Generic versions of a groundbreaking injectable HIV-prevention drug will be available for $40 a year in over 100 countries starting in 2027, Unitaid and the Gates Foundation announced Wednesday.The two organizations have signed separate agreements with Indian pharmaceutical companies to produce cheaper generics of lenacapavir - a twice-yearly injection shown to reduce the risk of HIV transmission by more than 99.9% - for low- and middle-income countries.Currently marketed in the U.S. as Yeztugo by California-based Gilead Sciences, lenacapavir costs around $28,000 a year.Far cheaper generic versions are therefore "critical for scaling up HIV prevention," said Carmen Perez Casas, Unitaid's strategic lead for HIV. "Now, with this product, we can end HIV."In October 2024, Gilead signed licensing deals with six generic drugmakers to produce and sell the world's first long-acting pre-exposure prophylaxis (PrEP) in poorer countries.Unitaid said Wednesday that a partnership with Dr. Reddy's Laboratories, the Clinton Health Access Initiative (CHAI), and Wits RHI will provide the drug at $40 per person annually across 120 countries starting in 2027."The product will initially be manufactured in India," Perez Casas said. "But we are also working toward regional production in the future."The Gates Foundation also announced a similar partnership with Indian pharmaceutical company Hetero.
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Prime Minister Narendra Modi on Wednesday reviewed eight critical infrastructure projects across 15 states with a cumulative investment of Rs 65,000 crore with an emphasis on clear timelines and prompt resolution of bottlenecks.The projects reviewed during the 49th meeting of Pro-Active Governance and Timely Implementation (PRAGATI) platform spanned across sectors including mines, railways, water resources, and power.The prime minister urged officials at both the Central and state levels to adopt a result-oriented approach, translating opportunities into improved quality of life for people, while also advancing the goals of ease of living for citizens and ease of doing business for enterprises, an official statement said. Modi said delays in execution impose a double cost - often escalating project expenditure and also depriving citizens of timely access to essential services and infrastructure.He emphasized that states/UTs should also institutionalize mechanisms at their level for regular review and monitoring of flagship projects, ensuring timely implementation and effective resolution of bottlenecks.The prime minister urged all states/UTs to place strong emphasis on reforms aimed at improving competitiveness, strengthening efficiency, and fostering innovation across sectors, and stressed that better preparedness through these reforms would enable us to swiftly seize emerging opportunities.The ICT-enabled multi-modal PRAGATI platform brings together the Centre and states to fast-track major projects, address bottlenecks, and ensure time-bound delivery.
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Promoters of wires and cable company Polycab India will likely offload up to 0.81% stake in the company via block deals on Thursday. The floor price has likely been set at Rs 7,300 per share taking the deal size to Rs 887.6 crore. The floor price is likely set at a discount of 3.1%, a CNBC-TV18 report said.Meanwhile, NDTV Profit reported that Inder T. Jaisinghani, Ajay T. Jaisinghani, Ramesh T. Jaisinghani, Girdhari Thakurdas Jaisinghani, Bharat Jaisinghani, Nikhil Ramesh Jaisinghani, and Anil Hariram Hariani will sell shares.Polycab shares today ended at Rs 7,529 on the NSE, falling by Rs 91 or 1.19% over the Tuesday closing price. It was its second successive loss following a fresh 52 week high of Rs 7,714 it hit on Monday.Polycab shares have delivered 14% returns over a 1-year period while rising over 2% so far in 2025. The multibagger stocks 3-year returns are in excess of 190%.The stock is currently trading above its 50-day and 200-day simple moving averages of Rs 7,083 and Rs 6,293, respectively, according to Trendlyne.The stock has traded with high volatility with a 1-year beta of 1.1, Trendlyne data revealed.The company reported a consolidated net profit of Rs 592 crore in the June ended quarter, which was a 49% year-on-year growth. Total revenue in the reported quarter stood at Rs 5,986 crore, which was a 26% YoY growth.Also Read: Akzo Nobel India block deals: Promoter offloads Rs 765 crore stake; Nippon, Goldman, Citi among buyers(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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Akzo Nobel India's promoter entity Imperial Chemical Industries today sold over 22.77 lakh shares worth Rs 765 crore via multiple block deals to marquee international and domestic funds. The shares were sold at a price of Rs 3,358.8 apiece to Goldman Sachs, Citigroup, BNP Paribas, Societe Generale, Morgan Stanley, Nippon India Mutual Fund, Aditya Birla Sunlife Mutual Fund and Edelweiss Life Insurance Company. Nippon was the top buyer at Rs 274 crore and was followed by WF Asian Smaller Companies Fund and Goldman Sachs.Block deal details-- Nippon India Mutual Fund bought 8,14,894 shares worth Rs 273.70-- WF Asian Smaller Companies Fund bought 5,28,500 shares at Rs 177.5 crore-- Goldman Sachs bought shares worth Rs 151.50 crore-- Citigroup bought shares worth Rs 35.2 crore-- Baroda BNP Paribas MF bought 74,820 shares at a deal size of Rs 25.13 crore-- Aditya Birla Sunlife MF bought 45,986 shares at Rs 15.4 crore-- Mediolanum Best Brands- Mediolanum India Opportunities bought 36,905 shares at 12.4 crore bought shares worth Rs 10 crore, each-- BNP Paribas Financial Markets, Societe Generale, Morgan Stanley, Bandhan MF, Edelweiss, Ghisallo Master Fund LP-- New York State Teachers Retirement System bought 24,407 shares worth Rs 8.2 crore-- GS India Equity bought 16,128 shares at a consideration of Rs 5.41 crore.Akzo Nobel India is an Indian subsidiary of Amsterdam-based AkzoNobel.The shares were sold at a discount of 1% over the Tuesday closing price of Rs 3,394.65. Today the shares ended at Rs 3390.75 on the BSE, declining by Rs 3.90 or 0.11%.It has been a market laggard falling 8% over the past one year and shares are currently trading below their 50-day and 200-day simple moving averages of Rs 3,518.2 and Rs 3,481, respectively.Also Read: NDR InvIT Trust bulk deals: Radhakishan Damani picks Rs 100 cr stake; Rakesh Jhunjhunwala trust invests Rs 67 cr (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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The Reserve Bank of India Bulletin on Wednesday said that the landmark GST reforms should progressively result in a sustained positive impact through significant gains in ease of doing business, lower retail prices and strengthening of consumption growth drivers.The decisions of the GST Council in its 3rd September meeting set in motion major structural reforms in the GST regime, simplifying rates and processes, the central bank said in its September bulletin.The four existing slabs (5, 12, 18 and 28 per cent) have been streamlined mainly into two (5 and 18 per cent), with rationalisation cutting across sectors.The new framework is designed to balance the needs of the common man with ease of administration, said RBI bulletin. Most of the essential items now attract either ‘nil’ or 5 per cent GST. A majority of the electronic items and motor vehicles would be taxed at 18 per cent. A new category has also been created for luxury and sin goods, taxable at 40 per cent. "Beyond rate simplification, the reforms also tackle challenges relating to inverted duty structure. Processes have also been made business friendly: simpler registration and return filing, faster refunds, and lower compliance costs – particularly benefiting micro, small and medium enterprises and startups. Overall, these reforms are expected to boost tax buoyancy, improve compliance, and contribute to greater ease of living as well as ease of doing business."RBI said that the production and sales of passenger vehicles are likely to pick up in the upcoming festive season supported by the GST rate cut.The central bank, however, said the views expressed in the Bulletin article are of the authors and do not represent the views of the Reserve Bank of India.
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