January, 2024 - Business News Week

business

Glenmark is the first to launch Biosimilar of Popular Anti-Diabetic Drug, Liraglutide, in India

Jan 4, 2024 by Sujata 0 Comments

Glenmark Pharmaceuticals Ltd

Bangalore, India, 04 January 2024: Glenmark Pharmaceuticals Ltd. (Glenmark), a research-led, global pharmaceutical company, has launched a biosimilar of the popular10,11 anti-diabetic drug, Liraglutide, for the first time in India. The drug is being marketed under the brand name Lirafit™ following the approval from the Drug Controller General of India (DCGI). Priced at around INR 100 for a standard dose of 1.2 mg (per day), this will lower the cost of therapy by approximately 70%, and will be available only under prescription.

Liraglutide belongs to the class of glucagon-like peptide 1 receptor agonist (GLP-1 RA) drugs, which increase glucose-dependent insulin secretion and decrease in appropriate glucagon secretion.12,13 It has been approved globally for the management of type 2 diabetes mellitus in adult patients in the United States and the European Union.14

“Glenmark is proud to introduce Lirafit™, a novel and affordable biosimilar of the drug liraglutide, for the first time in India. Clinical trials have shown that it helps improve glycemic control in adult type 2 diabetes mellitus patients along with atherosclerotic cardiovascular diseases (ASCVD) and obesity.1-5 Liraglutide has also proven to have a positive impact on cardiac and renal safety outcomes among patients in clinical trials, making it an effective choice of treatment for patients with type 2 diabetes mellitus.4,5,7,14,15 With this launch, we have now ventured into the injectable anti-diabetic market taking another significant stride in the diabetes therapy space,” remarked Alok Malik, President and Business Head ‐ India Formulations, Glenmark Pharmaceuticals Ltd.

Liraglutide and its role in the treatment of type 2 diabetes

Liraglutide has a proven efficacy in improving glycemic control in patients with type 2 diabetes mellitus. Clinical trials on Indian adult patients with type 2 diabetes mellitus over 24 weeks have demonstrated Lirafit™ to be effective, safe, and well-tolerated. The trials also revealed non-inferior efficacy and a safety profile with that of the reference liraglutide.16 Additional benefits of liraglutide include effectively lowering glycemic parameters, weight reduction, and cardiovascular safety in patients with type 2 diabetes mellitus2-5,13,14.

GLP-1 RA class of drugs and their mechanism of action

GLP-1 RA (Glucagon-like peptide-1 receptor agonists) are a group of drugs used in the treatment of type 2 diabetes.13 GLP-1 RAs are very effective in lowering blood sugar levels. Several trials have demonstrated that GLP-1 RAs reduce cardiovascular risk in patients with type 2 diabetes mellitus and ASCVD or high cardiovascular risk and have beneficial effects on cardio-renal outcomes beyond their blood glucose-lowering effects in type 2 diabetes mellitus patients.17,18 Their mechanism of action involves the release of insulin, in the presence of elevated glucose concentrations, thus decreasing glucagon secretion.12,13 GLP-1 RAs are recommended in the treatment guidelines by the American Diabetes Association as well as the American Association of Clinical Endocrinology (AACE) Consensus Statement & European Society of Cardiology for type 2 diabetes mellitus patients with co-morbidities like established atherosclerotic cardiovascular disease and obesity.6,7,8,9. The American Diabetes Association (ADA) also recommends GLP1RAs therapy for weight loss & lesser risk of hypoglycemia in type 2 diabetes mellitus patients.6,7 Drugs belonging to this class include liraglutide, liraglutide, and dulaglutide, among others.

Glenmark’s expertise in diabetes management

Glenmark has a strong legacy of bringing in new, effective, and affordable treatment options for diabetic patients, especially for those suffering from uncontrolled Type 2 diabetes. In 2015, Glenmark was the first to launch the DPP4 inhibitor, Teneligliptin (Zita Plus® and Ziten®), followed by a FDC of Teneligliptin + Metformin (Zita-Met Plus® and Ziten-M®). Glenmark later introduced Remogliflozin (Remo® and Remozen™), a novel SGLT-2 inhibitor in 2019; and subsequently, its combinations (Remo-V®, Remozen™-V, Remo MV®, and Remozen™ MV). Glenmark followed that up with the launch of Sitagliptin (Sitazit®) and its FDCs in 2022. Then came Lobeglitazone (LOBG®) and additional FDCs of Teneligliptin, including its combinations with Pioglitazone (Zita Pio™), Pioglitazone + Metformin (Zita®-PioMet), Dapagliflozin (Zita-D™), and Dapagliflozin + Metformin (Zita® DM). Liraglutide (Lirafit®), a glucagon-like peptide-1 receptor agonist (GLP-1 RA) is the latest affordable offering from Glenmark, marking its entry into the injectable anti-diabetic market.

Prevalence of diabetes in India

As per the ICMR-INDIAB study conducted between October 2008 and December 2020, the overall weighted prevalence of diabetes was 11.4%19. According to IQVIA™ sales data for the 12 months ending August 2023 (MAT August 2023), the market for GLP-1 RA in India is estimated to be INR 259 crores, with an annual growth of 108% against the corresponding period last year (MAT August 2022).

business

Khazana Jewellery Chooses Social Beat for Digital Growth

Jan 4, 2024 by Sujata 0 Comments #Khazana Jewellery, #Kishore Kumar Jain, #Social Beat, #Vikas Chawla

Chennai: January 04, 2024: Social Beat, a leading digital marketing agency in India has been assigned the digital mandate of Khazana Jewellery, an organised jewellery retail house based in South India. The agency’s scope will encompass digital strategy and planning to drive revenue growth by targeting the right audience and scaling its online presence. The mandate was won after a closely contested multi-agency pitch.

Social Beat will assist in executing creative campaigns to boost Khazana Jewellery’s online engagement, amplify brand awareness and overall media strategy to scale their brand presence and performance through Google & Meta campaigns as well as showcase their jewellery collections through creative videos.

Mr. Vikas Chawla, Co-Founder of Social Beat, said “We are excited to be associating with one of South India’s finest brands. Khazana Jewellery has always been at the forefront of bringing out new and trendy designs, we found a complete vision match as digital brand-building partners. Our mandate is to drive revenue growth through digital efforts by targeting the right audience and scaling Khazana Jewellery’s digital presence. We will be bringing out refreshing content aimed to strengthen the Khazana Jewellery brand.”

Mr. Kishore Kumar Jain, Managing Director of Khazana Jewellery, said “We are delighted to join forces with the dynamic team at Social Beat to lead our digital mandate. This partnership will help us in yet another exciting journey of meaningfully engaging with our consumers. Social Beat team with their nuanced understanding of the digital landscape, will fuel our vision to be one of India’s leading and most loved jewellery brands.”

business

SignaX - NEAR Metaverse Launched in Karnataka at Techceleration by KDEM

Jan 4, 2024 by Sujata 0 Comments #Adhikar Naidu, #Arpit Shama, #Karnataka Digital Economy Mission (KDEM), #SignaX - NEAR Metaverse, #Techceleration event

The prestigious Techceleration event, a conference hosted by the Karnataka Digital Economy Mission (KDEM), an initiative of the Karnataka government to showcase the Indian state’s thriving technology cluster, saw the grand launch of the SignaX — NEAR Metaverse, a groundbreaking virtual realm that promises to reshape the digital landscape. Spearheaded by Signa X, a metaverse creation platform, in partnership with the NEAR Foundation, this collaboration marks a pivotal moment in the convergence of blockchain, augmented reality, and digital connectivity.

The SignaX — NEAR Metaverse, powered by the robust infrastructure of NEAR Protocol, introduces a paradigm shift in how individuals interact and experience the digital realm.

Through the NEAR Metaverse, users can engage in dynamic virtual experiences, host events and foster communities, transcending physical boundaries. Its applications span across industries, from enabling immersive virtual experiences to facilitating advanced industrial and educational environments for developer training to hosting experiential conferences and activities.

The event witnessed the presence of esteemed senior government officials and Minster for IT, BT and ST, Government of Karnataka. Their presence solidifies the commitment to foster technological advancements and position Karnataka at the forefront of the global digital revolution.

Launch - Headline Photo

Mr. Adhikar Naidu, CEO of Signa X, expressed his excitement about the launch, stating: “The NEAR Metaverse launch at Techceleration signifies a monumental leap towards a more connected, immersive, and innovative digital future. Through our collaboration with NEAR Protocol, we are confident in unlocking unprecedented opportunities across sectors, empowering individuals and businesses to thrive in this dynamic virtual ecosystem.”

Arpit Shama, NEAR Foundation’s MD for India, Asia and the Middle East, said: “Our ecosystem is at the forefront of Web3 innovation, facilitating an open web that is inclusive, accessible, and user-friendly. The successful launch of the NEAR Metaverse is a testimony to this claim. By leveraging the NEAR protocol, Signa X and the NEAR Foundation have combined their mutual expertise to create an impressive platform that will reshape the digital landscape for the masses and create a positive impact for society.”

The launch of NEAR Metaverse at Techceleration marks the beginning of an era where the boundaries between the physical and virtual worlds blur, paving the way for unparalleled innovation, collaboration, and limitless possibilities within Karnataka’s tech sphere.

business

Modi Group set for brand launch in line with founder Rajarshi Bhupendra Modi’s vision on 5th January at Delhi

Jan 3, 2024 by Sujata 0 Comments #Diwan-e-Khas, #Modi Group, #Rajarshi Bhupendra Modi, #Taj Mahal Hotel

NEW DELHI, January 3, 2024: Modi Group is set for the grand launch of the Modi Brand, aligned with the visionary ideals of the founder, Rajarshi Bhupendra Modi. The event will be hosted at the Taj Mahal Hotel, Diwan-e-Khas, South Block in New Delhi on January 5, 2024, at 11:00 am. This event will give optimum exposure to the vision and strategy driving the Brand, offering insights into ongoing projects and future growth plans.

Rajarshi Bhupendra Modi’s visionary outlook has shaped the core values and aspirations of the Modi Brand. The event will shed light on the strategic direction, values, and goals that define the brand, reflecting a commitment to innovation, quality, and redefining industry standards.

The event will be a perfect opportunity to gain firsthand experience and insights into the diverse projects undertaken by the Modi Group. From groundbreaking initiatives in healthcare and urban development to ventures in entertainment and wellness.

In addition to the unveiling of the brand’s vision and projects, the event will offer a networking opportunity for investors, partners, and stakeholders. Connect with like-minded individuals and organizations who share a passion for innovation, excellence, and creating a positive impact on society.

business

KALKI gears up its expansion plans for 2024 identifies 4 new markets in addition to its current 5 stores

Jan 3, 2024 by Sujata 0 Comments #KALKI, #Nishit Gupta

With a total of over 35000 square feet of retail space in India, KALKI’s presence in 5 of India’s key markets- Surat, Ahmedabad, Delhi, Bangalore and Mumbai ushers in an era where global expansion in addition to increasing Indian markets is the natural next step. The brand eyes on achieving 18 cr in revenue with the latest store launch in Surat. Supercharging growth in 2024, KALKI plans to expand to other locations within the Indian market with its next launch planned for Hyderabad, while also identifying Punjab, Lucknow and Indore as potential markets.

Recognizing the interconnected nature of today’s markets, KALKI aims to leverage their expertise and offerings on a global scale, fostering partnerships and reaching new audiences beyond its current geographical scope. The brand has organized limited-period pop-ups in the United States of America, Thailand, Australia, the United Arab Emirates, and Canada as well as has a large global presence in dedicated multi-designer stores. The response in their markets has been productive and popular, motivating KALKI to consider further growth in more countries very soon.

KALKI is, undoubtedly, on a trajectory of growth and a robust system of third-party auditing teams ensures financial processes are examined end to end and that industry best practices remain the standard for commercial success. Metrics like “Sales Per Square Foot” have been employed to ensure that each store remains profitable and with strategic cost-cutting and inventory management the team focuses on personalization and tailoring their offerings to meet individual requirements for various occasions, festive and wedding styles to manage inventory more effectively. This approach not only minimizes excess inventory costs but also ensures that resources are aligned with specific customer demands, contributing to improved financial performance across the board.

KALKI has steered away from mass production but has ensured a dynamic and fast-paced supply chain instead, allowing them to have flexibility in swiftly churning out collections for their customers. After all, with sustainability being an important tenet, the brand supports garment workers by carefully disseminating customer requirements, keeping their pieces open to customization, and designing garments that will appeal to fashion-driven modern contemporary customers. The commitment to redefine bridal fashion goes hand in hand with offering a wonderful shopping experience for the whole family – and this is crystal clear as one sets foot in any KALKI store.

founders Image

Nishit Gupta, Director and Co-founder at KALKI Fashion, “Our long-term vision for our ethnic wear label is to be a trailblazer in the ever-evolving fashion industry. We aim to set enduring trends, consistently offering a blend of traditional and contemporary style that resonates with diverse global audiences. Fueled by innovation and a commitment to quality craftsmanship, we aspire to be recognized as a go-to destination for those seeking timeless, yet modern, ethnic fashion. Embracing sustainability and inclusivity, we envision contributing to a positive and transformative influence on the fashion landscape for years to come.“

The 5 super successful stores across the country in Surat, Bangalore, Mumbai, Delhi & Ahmedabad have customers travelling to them, so they can invest in clothing they wouldn’t otherwise have access to in their hometowns and the stores are optimized to give the client the best experience. The Lemon Tree concept is the go-to for the brand across all KALKI Stores which includes a ceiling wallpaper and rug pattern mirroring its footprints, alongside a custom light installation inspired by this natural element. Fresh, youthful, and serene is the vibe you get while maintaining an understated elegance throughout the space. Green hues and gold fixtures provide a muted backdrop, allowing their stunning garments to steal the spotlight with their inherent beauty.

KALKI remains a bootstrapped venture, growing solely based on organic growth, while also managing financial independence driven by the dedication and efforts of the founding family/business. While the brand has not currently engaged in specific strategic financial partnerships or collaborations at this stage and its self-sustained model has proven successful in fostering organic growth and maintaining financial independence, it remains open to exploring strategic collaborations in the future.

business

Zuno General Insurance unveils Zuno HealthPlus Policy: An Affordable & customisable Health Insurance plan

Jan 3, 2024 by Sujata 0 Comments

Zuno

New Delhi, 03 January 2024: Zuno General Insurance, a new-age digital insurer, introduces its latest health insurance policy – Zuno HealthPlus Policy. This innovative health insurance plan is designed to provide tailored coverage and benefits for individuals and families at an affordable premium.

This inflation-adjusted product allows coverage for up to 9 family members under a single policy, streamlining the process of managing multiple policies.

Zuno HealthPlus Policy caters to diverse needs, allowing individuals and families to choose from 20 different relationships for coverage. Product where a bachelor can insure themselves with basic health insurance and opt for adventure sports optional cover. Young couples can go for plans with maternity benefits and newborn covers. Looking at rising infertility, intending couples may also opt for infertility and surrogacy covers. A family with children can choose to go with Outpatient and worldwide covers. With no maximum entry age barrier, this policy offers cover to senior citizens.

In addition to these features, to make it even more accessible, policyholders can enjoy up to 20% zone-based discount based on their geographical location. Additionally, the policy offers long-term discounts of up to 10% and incentivizes an existing customer with a 5% discount on purchasing this policy. Not only this, but you also get a discount of 15% if you purchase directly from our website.

Announcing the launch of the new policy, Shanti Ghosh, MD & CEO of Zuno General Insurance said, “Zuno HealthPlus Policy reflects our commitment to innovation and customer-centric solutions. We believe in making insurance simple, easy to understand, and accessible to all. Zuno HealthPlus Policy is a significant step in that direction. With high sums insured, no room rent capping, no sublimity or disease-wise capping including modern treatments and comprehensive coverage, it’s not just insurance —it’s peace of mind”

The new policy will primarily be accessible through its network of channel partners. Zuno HealthPlus Policy also gives leverage to its customers when it comes to medical screening. There will not be any medical test for coverage up to 20 lakhs, age of 55 years without extreme health conditions.

Zuno HealthPlus Policy ensures hassle-free healthcare with an extensive network of over 10,000 cashless hospitals. In times of emergency, the vast network eliminates the concern of finding a suitable facility. In case of admission to a non-network hospital, Zuno makes efforts to onboard it for cashless facilities. For reimbursement claims, Zuno offers a “Cash in Advance” facility, where Zuno pays an advance payment to the customer providing immediate support in emergencies. The 24 x 7 Claims Concierge provides expert guidance throughout the claims process ensuring prompt and seamless support to the policyholders making the customer experience stress-free.

business

HRH Next Services goes public

Jan 3, 2024 by Sujata 0 Comments

HRH

Hyderabad, 3rd January 2024: HRH Next Services Limited, a leading player in the BPO industry who recently entered the public markets with an Initial Public Offering (IPO), was enlisted by the National Stock Exchange of India (NSE) at the Opening Bell ceremony today.

The event took place at Mercure Hyderabad KCP, beginning with the lamp-lighting ceremony attended by dignitaries from HRH Next Services Ltd. and other distinguished guests. Investors and stakeholders witnessed this milestone as NSE representatives Senthilmurugan R. & N Abhishek presented the Listing Certificate to Ankit Shah, Managing Director of HRH Next Services Limited. S Ramakrishna Iyengar, the BRLM from Finshore Management Services was also present at the Opening Bell event. “As we ring the IPO bell today, let it resonate as a symbol of our shared achievements and the exciting prospects that await us,” said Ankit Shah, while addressing the gathering.

Shortly, HRH Next Services Ltd. is looking to strategically integrate digital services into BPO operations to enhance efficiency and reduce costs. With automation, particularly in video technologies and virtual studio setups, the firm hopes to revolutionise communication, collaboration, and customer service. Through the use of cutting-edge technology, and an experienced and dynamic team excelling in communication, the company aims to continue delivering exceptional services that positively shape customer interactions with brands.

“100% subscription within one hour. 65.25x oversubscription by the end of the third day. In a short span of 15 years, mastering diverse vernaculars and bringing automation to the fore, the success of this Initial Public Offering underscores the trust and confidence our investors have placed in HRH NEXT’s vision and potential. We are thrilled to embark on this new chapter of growth, fuelled by the support of our shareholders and the opportunities that lie ahead in the market. We are here to take Bharat’s customer experience to the next level,” adds Ankit Shah, MD, HRH NEXT NEXT SERVICES LTD.

Entertainment

2023 has been a complete WOW for cinephiles Here’s how you can vote for your favourite performers and films

Jan 3, 2024 by Sujata 0 Comments

9th Hyundai Filmfare Awards

“Kyun Ki… Picture Abhi Baaki Hai Mere Dost”: This iconic dialogue echoed through the minds of cinephiles across the country as a collective sentiment as 2023 witnessed a celebration of Hindi cinema. From the grandeur of blockbuster commercial entertainers like Pathaan, Gadar 2, Rocky Aur Rani Kii Prem Kahaani, and Animal to the nuanced brilliance of critically acclaimed films such as 12th Fail, Mrs Chatterjee vs. Norway, Bheed, Joram, and Zwigato, among others, the Hindi film industry struck a harmonious chord with the audience, rekindling the magic of storytelling on the silver screen.

In a testament to cinematic excellence, the stage is set for the 69th Hyundai Filmfare Awards 2024 with Gujarat Tourism as the Black Lady gears up to honour the gems of 2023. This significant event, embarking on a new journey, is set to unfold on January 28, 2024, in Gujarat, adding a fresh chapter to the prestigious legacy of Filmfare. In anticipation of the star-studded awards night, Filmfare is placing the power in the hands of the audience—the heartbeat of cinema—by opening the voting lines for its 69th edition.

In this edition, once again, fans can cast a vote for their favourite performers, directors, and films from 2023. All they have to do to extend their support is go to the official website of Filmfare, So, let the countdown to the country’s most significant awards ceremony begin. The voting lines are open from January 1, 2024, until January 7, 2024.

Sharing thoughts on this announcement, a representative of Filmfare expressed, “The Hindi film industry has had a dream run at the box office in 2023 with a swarm of blockbuster hits. This year, especially, has been truly special for cinephiles as it witnessed two big releases from Shah Rukh Khan and had Ranbir Kapoor and Sunny Deol give the biggest hits of their respective careers. It marked the comeback of filmmakers like Karan Johar, Vidhu Vinod Chopra, and Anil Sharma to the director’s chair after many years and also witnessed the increase of footfalls in theatres after the slump created by COVID. So, the celebration leading to such an eventful year in Hindi cinema also needs to be extra special, and what better platform than Filmfare to honour the unrivalled talent in the industry? Filmfare has been a benchmark of cinematic brilliance in Hindi cinema for over six decades. As we gear up for the 69th Filmfare Awards, we strive to continue that legacy by inviting fans to vote for their favourites by shedding light on performances and narratives that etched a special place in their hearts in 2023.”

Stay tuned for more updates on the 69th Hyundai Filmfare Awards 2024 with Gujarat Tourism as the anticipation builds for a night dedicated to honouring the best in Hindi cinema.

business

Timex launches its latest Smartwatch – iConnect Calling with actor Aashim Gulati as the brand face

Jan 3, 2024 by Sujata 0 Comments

timex group

Jan 3rd Timex, a well-known global brand in watchmaking, is excited to launch its newest creation, the iConnect Calling smartwatch range, further diversifying its smartwatch lineup that effortlessly combines style and functionality. iConnect Calling allows users to answer calls from their wrists and keeps a detailed record of important health data, making it a perfect blend of fashion and fitness.

Actor Aashim Gulati, known for his fitness timeliness and signature fashion style is the face of the latest collection and resonates perfectly with what the collection has to offer.

Commencing at an enticing price, the watch is available online and offline across 8 SKUs and is equipped with features such as smart notifications, a full-color touchscreen display, activity tracking, water resistance, and more. Enabling multi-day battery life, one full charge lasts for 7 days on normal usage.

iConnect Calling Fact Sheet

Bluetooth calling

Changeable watch face – more than 100+ watch faces available on the app cloud

100+ sports modes to measure key data (heart Rate, Blood pressure, sleep Tracker, etc)

AI Voice for intelligent dialogue and QnA

8 SKU’s

240*284 Screen Resolution

TFT screen provides a crystal-clear image that is viewable even in bright sunlight

4 Games

The new range also has 100+ sports modes to measure every vitals, be it heart rate or calories burned with the feasibility of saving data on the Timex Fit 2.0 app. Every watch comes with a one-click AI VOICE interconnection to be paired with a mobile phone voice assistant for intelligent interaction and instant question and answer. Available in contemporary colors such as rose gold, gun-metal blue, and many more. The latest collection features easily detachable straps for added convenience

“We are very excited about our latest iConnect Calling smartwatch range. In recent years, watches are no longer seen as mere timekeeping devices but also as distinctive fashionable accessories with functionality. We are thrilled to have Aashim Gulati as the face of our new range as he reflects the perfect combination of fashion and fitness. His impressive work has earned him widespread recognition, particularly among the youth, who constitute our target consumers. We know we’ve made a ‘smart’ choice’.” – Mr. Deepak Chhabra, Managing Director, Timex India

Archive: January 4, 2024