Harbinder Virdi

CytRx Corporation, a biopharmaceutical company specializing in oncology, has been granted by the US Patent and Trademark Office (US PTO) of US Patent 7,728,131 for oncology drug candidate bafetinib, encompassing claims related to bafetinib's pharmaceutical compound and composition in all indications, as well as for use in methods for treating acute and chronic myelogenous leukaemia and acute lymphoblastic leukaemia. The Issue Notification for the patent, which has a September 2025 expiration date, was received by CytRx's licensor, Nippon Shinyaku Co, LTD. CytRx holds the exclusive rights to bafetinib in all indications in the US and throughout the world, with the exception of Japan.

The Board of Directors of Fortis Healthcare, the largest private healthcare network in Asia, has approved the proposal to raise additional funds of Rs 2,750 crore by way of issuance of further securities. The company will take final decision regarding specific instrument, size and timing of issue of securities after advice of merchant bankers, book runners and lead managers.   Further, the Board has also approved an increase in the borrowing limit of the company to Rs 6,000 crore and creation of mortgage, charge or hypothecation on the movable or immovable properties of the company from time to time. With the acquisition of a strategic stake in Parkway Holdings it has spread its presence in Brunei, China, India, Malaysia, Mauritius, Singapore and the UAE.