MUMBAI: Pfizer has approached several Indian drugmakers for possible alliances as part of moves to try and bolster revenues threatened by the
expiry of patents on key blockbuster drugs in the next three years. The $48-billion US drugmaker has tapped Zydus Cadila, Emcure, Intas Pharma and Mankind Pharma, but the Indian companies have not responded favourably to the offers.

The global financial crisis continues to impact Indian companies, and now two big infrastructure firms — Jaiprakash Associates and JSW Steel, that failed to meet the terms on their overseas loans — have urged the Reserve Bank to relax rules governing the repayment of foreign borrowings, so that they do not default on their loan repayments. Not meeting terms of overseas loans can trigger a default which can force faster repayment of the loan.

There are eight suitors left in the race to buy Zamtel, Zambia’s fixed-line telephone operator, including South Africa’s Telkom and India’s MTNL, the Zambia Development Agency said Thursday.

Tata Steel and MMTC have signed an agreement at New Delhi to establish a 74:26 joint venture company for acquiring, development and operation of mines and processing of minerals and metals.

IT major Wipro today said it has entered into a 10-year IT outsourcing agreement with Delhi International Airport Ltd for providing IT infrastructure and services for IGI Airport here. As part of the agreement, both the companies will form a joint venture, to be named as Wipro Airport IT Services Ltd, with Wipro holding 74 per cent stake in the JV and DIAL the remaining 26 per cent stake, Wipro said in a statement.

Reliance Industries on Thursday belittled the importance of the memorandum of understanding (MoU) signed between members of the Ambani family and said the government’s gas utilisation policy had taken away the company’s freedom to market gas. RIL’s lawyer Harish Salve resumed his arguments on Thursday and as on previous days was peppered by questions from the justices on various aspects of the complex case.

Take Solutions has been conferred the rights to 5 acres of land at the ELCOT in Tamil Nadu.

Results diary: 3i Infotech, Alphageo Industries,Bata India, Bharat Forge, BHEL, Binani Industries, Century Textiles, Core Project, Cyber Media, Dr.Reddy's Laboratories, Edelweiss, Gateway Distriparks, Glaxosmithkline Consumer, Graphite India, Greaves Cotton, HCC, Honeywel Auto, I T C, Indian Bank, ING VYSYA Bank, JSW SL, MMTC, NTPC, Punj Lloyd, Sagar Cement, Titagarh Wagons, TITAN, TVS Motor, Welspun India, Zee Enterprises, Zee News