Disney, Reliance Finalise Merger, Pharma Firms Recall Drugs From US And Other Stories From The Weekend You Can't Miss

Major Pharma Recalls in the US

Sun Pharma, Lupin Laboratories and Alkem Laboratories are recalling several pharmaceutical products from the US market, according to the US Food and Drug Administration (USFDA).

Sun Pharma is recalling over 54,960 bottles of Mesalamine, an anti-inflammatory medicine, due to dissolution specification failures. This recall is linked to its Mohali unit, which has faced scrutiny from the USFDA.

Alkem’s subsidiary, Ascend Laboratories, is recalling Fosfomycin Tromethamine Granule sachets, an antibiotic, due to out-of-specification organic impurities. Additionally, Lupin is recalling an unspecified number of Voriconazole tablets due to packaging errors.

Paytm’s Advisory Committee Engagement

An advisory committee formed by Paytm parent One97 Communications, headed by former SEBI chairman M Damodaran, is yet to deeply engage with the company following the Reserve Bank of India’s (RBI) restrictions on Paytm Payments Bank.

The RBI’s order halted further customer deposits and transactions, prompting Paytm to establish the committee for regulatory compliance advice. Damodaran’s comments suggest a cautious approach to identifying and addressing potential issues within Paytm.

See Also: Why Paytm Shares Hit Upper Circuit Again

Disney-Reliance Media Merger

Walt Disney Co. and Reliance Industries Ltd. have reportedly signed a binding agreement to merge their media operations in India, creating a significant shift in the country’s entertainment landscape.

Reliance is expected to hold a majority stake in the merged entity. This strategic partnership aims to consolidate Disney and Reliance’s media assets, enhancing their competitive edge in one of the world’s fastest-growing entertainment markets.

The merger underscores the ongoing consolidation efforts within the Indian media sector, amidst intense competition for subscribers and media rights.

India’s Data Transfer Stance at WTO

India’s proposal to impose duties on cross-border digital e-commerce and data transfers has raised concerns among global semiconductor industry groups.

The World Semiconductor Council has urged India to reconsider its stance ahead of a World Trade Organization meeting, warning that tariffs could hinder India’s burgeoning chip design industry.

India’s position, aimed at addressing revenue losses from digital imports, contrasts with the industry’s call for a duty-free digital trade environment.

Read Next: How Two Brothers From Bengaluru Challenged The Chewing Gum Industry And Took Shark Tank India By Storm