MONEYMAKERS
BREEZING IN: Ahmednagar Forgings Ltd (AFL), a Pune-based company, has set its sights on wind power generation and infrastructure development. "The diversification into generation of power by windmills and other renewable or non- conventional resources is being seriously considered in view of the incentives being offered by income tax and sales tax laws," company officials said. Windmill equipment companies including NEPC Micon have offered to take up the installation works on build-operate-transfer basis for the Rs 82-crore company.
GREEN TECH: Chevron Nigeria, a leading oil company, took the first step towards turning environment-friendly by processing the gas found during oil extraction instead of flaring it. Until recently, more than 90 per cent of gas in Nigeria was being flared during oil production. The resulting environmental repercussions have led to protests from local communities in affected parts of the country and international activists. "The driving force for this project is environmental," a Chevron official said.
HERBAL VENTURE: With a view to expanding its market in the US, Ahmedabad-based Cadila Pharmaceuticals has tied up with the US herbal major Murdock Madaus Schwabe (MMS). The Indian company will combine its expertise in research and development with the wide distribution network ofMMS in the US to sell herbal drugs. Cadila will introduce 10 to 15 products initially. The company is a leading manufacturer of bulk drugs, formulations and hospital products.
PREVENTIVE PUFF: All those who are trying to quit smoking can now look forward to an inhalable alternative that simulates a typical smoker's behaviour. The US Food and Drug Administration recently gave its approval to Nicotrol Inhaler, a nicotine inhalation system for prescription use. By inhaling through a cartridge placed in a mouthpiece, a smoker gets a nicotine replacement therapy. The device has been developed by Advanced Therapeutic Products Inc, which claimed that it was the first kind of therapy that fulfIls one of the behavioural patterns of smokers -the habit of moving hand to the mouth.
HEALTH BYTES: OCS International Ltd, a Bangalore-based software company, is all set to make its mark abroad by bagging a prestigious US $20 million contract to supply health information software to South Africa (SA). Its 'Medicom software' has been selected for use in 47 hospitals in the northern province of SA. The project encompassed the implementation of24 modules covering patient administration, patient care, medical, financial and administrative services. The company will also provide consultancy, training and implementation services to its local partner IBM.
CROP CONGLOMERATE: The Swiss agrochemical and drug giant, Novartis AG, is planning to acquire the worldwide crop protection operations of the US drug company Merck & Co for US $910 million. The deal will help Novartis plug gaps in marketing and manufacturing crop protection products in which it is already the world leader. Forty-two per cent of Merck's revenue comes from the US and Novartis officials expect significant potential to boost sales in Europe, Asia and Latin America, where it has a strong marketing base.