Saturday, August 29
New Delhi: Toronto-based Fairfax Financial is leading the race to acquire a controlling stake in IDBI Bank from the Centre and Life Insurance Corp of India (LIC) ahead of a December-end deadline for submission of financial bids for the lender, multiple people familiar with the matter told ET. Fairfax is competing with Kotak Mahindra Bank, the other significant contender in the fray, said the people cited above.Both have been shortlisted after they had submitted expressions of interest to participate in a bidding process two years ago. Fairfax Financial, founded by Indian-Canadian billionaire Prem Watsa, is said to be considering an all-cash offer in line with IDBI Bank’s current market value, according to those in the know. This could make it a favourite in the bidding process. Governmen
Danish drugmaker Novo Nordisk on Friday launched its blockbuster diabetes drug Ozempic in India, stepping up its push in the world’s most populous country as demand for treatments for diabetes and weight loss continues to rise.The drug will be available in three strengths -- 0.25 mg, 0.5 mg and 1 mg -- following its launch in the country. Novo Nordisk has set the price of Ozempic’s lowest 0.25 mg dose at ₹2,200 per week in India, or ₹8,800 per month. The 0.5 mg dose has been priced at ₹10,170 per month, while the highest 1 mg dose will cost ₹11,175 per month.Novo Nordisk received regulatory approval in September to import and sell the drug in the country. India has the second-highest number of people living with type 2 diabetes after China, alongside rapidly increasing obesity
