Author: Amisha Rampal

In order to develop and commercialize a brand portfolio of biosimilar and insulin products such as human insulin, insulin glargine, Biocon and Viatris have partnered. On Monday, Biocon Biologics Ltd (BBL) said it has entered into an official agreement to acquire Viatris’ biosimilars assets for $3.34 billion. Out of the said $3.34 billion, BBL will divide the payment into two parts; it will pay up to $2.34 billion in cash and the remaining $1 billion through Compulsorily Convertible Preference Shares (CCPS) in BBL for an equity stake of at least 12.9% in the company.  The transaction is expected to wind…

A fine of $55 million imposed on the National Bank of Pakistan in regard to non-compliance with anti-money laundering laws   On Thursday, this penalty came as a setback to an already derailed economy of Pakistan. The National Bank of Pakistan (NPB), operating in New York, received the penalty concerning non-compliance with anti-money laundering laws.  The penalty was announced by the Federal Reserve Board (FDB) against NPB for violations in monetary schemes. It is important to note that the NPB is a subsidiary of the State Bank of Pakistan, Pakistan’s central bank.  In the meanwhile, the investigations for the violations are…

As Russia attacks Ukraine, the President of Lithuania has issued a decree to declare a state of emergency in the Baltic nation.  Gitanas Nauseda, on Thursday, revealed what measures Vilnius would take to protect itself against any prospective aggression from Moscow. He said, “Today, I have signed a decree introducing the state of emergency, which the parliament will pass in an extraordinary session.”  He also insisted, “We are talking about Lithuania’s external security, and we are obliged to do everything we can to guarantee it without the slightest doubts.”  Soon after, the leaders of breakaway republics called on Moscow for…

India faces a diplomatic dilemma India has been in a tough spot and diplomatic dilemma over the Russia-Ukraine stance. India expressed regret over the situation and said that the situation in Ukraine is “in danger of spiraling into a major crisis.”  At an emergency meeting at UN Security Council, India said, “The Security Council had met two days ago and discussed the situation. We had called for urgent de-escalation of tensions and emphasized on sustained and focused diplomacy to address all issues concerning the situation.”  “However, we note with regret that the calls of the international community to give time…

What is cryptocurrency?  Cryptocurrency is a digital asset created using computer networking software that facilitates ownership and secure trading. A technology named Blockchain supports bitcoin and most other cryptocurrencies, it also keeps track of who owns what, and it maintains a tamper-resistant record of transactions. Public blockchains are usually operated without a central authority (a bank or government), i.e., decentralized.  Individual units of crypto are referred to as tokens or coins, depending on their use. They can be used as units of exchange for goods and services, as stores of value, and some are simply designed to help run computer…

According to a United Nations report (2019 edition), about 1% of the wealthiest Brazilians possess nearly a third or more precisely 28.3% of the country’s income, resulting in the second-highest income concentration in the world. In Brazil, there is not much to celebrate among its ethically, socially, and financially diverse population regarding the distribution of wealth. Brazil, the country that pledges equality right at the beginning of the constitution, is one of the most socially unequal in the world.    Identical to many other countries, Brazil’s social inequality crisis did not emerge overnight. Its disparities result from the historical accumulation…

Enraged US and EU confront China at the World Trade Organization  The Office of US Trade Representative, in its annual report on Chinese compliance with World Trade Organization rules, said on Wednesday that China was not keeping the promises it made when it joined the 164-country Geneva-based agency in 2001 to open its markets to the foreign competition.  The US (United States) has repeatedly accused China of failing to meet its commitments to the World Trade Organization, also stating that they (US) are currently exploring new ways to thwart aggressive Chinese trade practices.  Katherine Tai, U.S. Trade Representative, said, “China…

WHO said in a statement the first case of wild poliovirus was found in Malawi after more than five years.  In a statement on Friday, the World Health Organization (WHO) said that Malawi’s health authorities had declared a polio outbreak after, in the capital Lilongwe, a case was detected in a young child.  This case of wild poliovirus is the first to be found in a while. It is shown by laboratory analysis that the strain detected in Malawi is linked to the one circulating in Pakistan, where it is still endemic.  While taking urgent measures to prevent Polio from…

A trial court, last month, denied the bail to Mr. Kapoor, noting that the allegations against him were of serious and grave nature. On 16th February 2022, a Mumbai session court granted bail to Rana Kapoor, former CEO and MD of YES Bank, in a money laundering case related to the inappropriate loss of over Rs 300 crore to the bank.  The bail to Mr. Kapoor was granted on certain conditions by a special court under PMLA (Prevention of Money Laundering Act). The court has directed the seizure of his passport, and he cannot leave the country. He must attend…

As people become more aware of the choices they make; businesses incorporate sustainable products and methods The pandemic gave people a perspective on how they wanted to lead their lives, in a chaotic and unhealthy way or a mindful and healthy way. All over the world, people are now opting for cleaner, greener, and balanced lifestyles, primarily because of the warning signals that Mother Earth has been sending us and because of the way how pandemic has impacted people physically and mentally. When you opt for a sustainable lifestyle, in contradiction to the rumors, you don’t have to make a…