Alkem Labs Enters Licensing Agreement with Sonnet Bio for Diabetic Peripheral Neuropathy Drug

Key Takeaways from Drug Approval

• Alkem secures exclusive rights to develop and commercialise "SON-080" in India.
• "SON-080" has shown encouraging clinical trial results, particularly in pain relief and quality of life improvements for diabetic peripheral neuropathy patients.
• This partnership aims to address the growing burden of diabetes-related complications in India, where neuropathy is highly prevalent.

The drug candidate "SON-080," Sonnet's proprietary version of atexakin alfa, has thus far provided promising results from its phase 1b clinical trials. It seemed well tolerated, and the data showed that the patients' symptoms of peripheral neuropathy resolved with great rapidity and were persistent post-dosing compared to placebo controls.

Under the agreement, Alkem will spearhead the clinical development of "SON-080" in India. Meanwhile, Sonnet shall support Indian as well as international filings for regulatory purposes. Alkem will hold exclusive rights to manufacture and market the medicine in India; this is aimed at reducing the heavy burden of complications related to diabetes within the country. Diabetic peripheral neuropathy forms 62% of the patients who suffer from diabetes in India, which is a primary cause of more serious complications like the injuries in feet and limb amputations.

Commenting on the agreement with Sonnet, Dr. Akhilesh Sharma, President and Chief Medical Officer of Alkem, said, “We are pleased to partner with Sonnet for this programme. We believe “SON-080” is a unique asset that has demonstrated promising disease modifying potential for diabetic peripheral neuropathy with translational studies showing nerve regeneration. There is a large prevalence of diabetic peripheral neuropathy in India, which we believe underscores the need for the drug development in this territory and potential value.” 

Pankaj Mohan, Founder and Chief Executive Officer of Sonnet, commented, “We are excited to partner with Alkem and look forward to advancing “SON-080” into phase 2 clinical development. We believe that Alkem is the ideal partner with significant experience and expertise.”

About Alkem Laboratories Limited.

Alkem Laboratories Ltd. is one of India's leading pharmaceutical companies that has served 50 years of quality medicine. The company stands as one of the fifth-largest pharmaceutical companies in India, with strong positions in anti-infectives, gastrointestinal, and pain management therapy. Alkem also provides a growing portfolio in the treatment of chronic conditions in diabetes, neurology, cardiology, dermatology, and urology. With 19 advanced manufacturing facilities and R&D centres across India and the US, Alkem develops and manufactures generic formulations, APIs, and biosimilars, serving markets in India, the US, Latin America, Australia, and Asia.

About Sonnet BioTherapeutics Holdings, Inc.

Sonnet BioTherapeutics is a biotechnology company focused on oncology, leveraging its proprietary FHAB (Fully Human Albumin Binding) platform to develop targeted biologic drugs. The fully human single-chain antibody fragment (scFv) utilised binds to human serum albumin (HSA), thereby providing for this platform's accurate targeting to tumour and lymphatic tissues. This class of immune-modulating biologic therapies can be improved in terms of safety and efficacy, therefore opening its applications within the FHAB platform among several therapeutic classes—cytokines, peptides, antibodies, and vaccines.

Key Takeaways from Tata Consultancy Services Financial Performance:

• TCS reported a consolidated net profit of Rs 11,909 crore for the quarter ending September 2024. 
• TCS's revenue from operations was Rs 64,259 crore, reflecting a year-on-year growth of 7.6% from Rs 59,692 crore last year. Sequentially, it increased by 2.6% from Rs 62,623 crore in the June quarter.
• The company's EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) was Rs 15,465 crore, showing a slight increase of 0.1% compared to the previous quarter.
• TCS also announced an interim dividend of Rs 10 per share.

In terms of revenue, TCS's operations generated Rs 64,259 crore, which is a 7.6% growth from Rs 59,692 crore in the same quarter last year. On a sequential basis, revenue rose by 2.6% from Rs 62,623 crore reported in the June quarter.

The company’s EBITDA, or Earnings Before Interest, Tax, Depreciation, and Amortization, stood at Rs 15,465 crore, reflecting a slight increase of 0.1% from the previous quarter. 

The EBITDA margin for this quarter was 24.1%, down 60 basis points from the previous quarter, while analysts had projected it to be 24.85%. Additionally, TCS declared an interim dividend of Rs 10 per share.

About Tata Consultancy Services Limited:

Tata Consultancy Services (TCS) is the leading company of the Tata Group. It is an IT services, consulting, and business solutions provider that has been working with many of the world’s biggest companies for over 50 years, helping them transform their businesses. TCS offers a wide range of services, combining business, technology, and engineering solutions, with a focus on consulting and smart technology.

Key Takeaways from the Acquisition

• Lloyds Engineering expands its asset base through the acquisition of Bhilai Engineering Corporation’s engineering division.
• The acquisition involves cash consideration and is expected to be completed within 105 days.
• The transaction aligns with Lloyds Engineering’s strategic growth in the engineering and manufacturing sector, covering multiple industries such as metallurgy, nuclear, and railways.

Lloyds Engineering will expand its footprints further by purchasing the assets that would complement the existing business operations of the company. The assets being purchased are part of an integrated engineering and manufacturing facility catering to metals, minerals, and railways sectors as well as power.

As per a stock exchange filing, the deal would be an all cash deal that is expected to be completed in 105 days and would not require any government clearances. The assets acquired include facilities having in-house engineering, manufacturing, and testing of high onsite assembly, a wide range of products that comprises blast furnace equipment and coke oven machines as well as heavy machinery.

About Lloyds Engineering Works Limited

Lloyds Engineering Works Limited is an Indian company with experience in the design and manufacture of heavy equipment, machinery, and systems for use in various industries, including the hydrocarbon, oil and gas, steel, power, and nuclear sectors. Lloyds Engineering operates in the segment of Engineering Products and Services that offer design, engineering, manufacturing, fabrication, supply, erection, and commissioning of a wide range of mechanical, hydraulic, structural, and process plant equipment. Their experience covers metallurgical machinery for chemical plants, marine loading/unloading systems, columns, pressure vessels, boilers, and power plant as well as steel plant equipment. Lloyds Engineering Works also undertakes turnkey and Engineering Procurement Construction (EPC) work, with big projects also earmarked to be a 30 MW power plant, a pellet plant, hydrocarbon, steel, nuclear power, marine, ports, jetties, refineries, and the EPC sectors.

Key Takeaways from Suzlon Energy Partnership with Jindal Renewables:

• Suzlon Energy partnered with Jindal Renewables to develop a 400 MW captive wind power project, marking Jindal Group's first venture into wind energy.
• This project is the largest commercial and industrial (C&I) wind energy order in India.
• Suzlon will install 127 wind turbine generators in the Koppal region of Karnataka, each with a capacity of 3.15 MW.
• The electricity generated will power steel plants in Chhattisgarh and Odisha, enhancing sustainability in steel production.

The project marks the first foray into wind energy for Jindal Group and is the largest commercial and industrial (C&I) order of its kind in India. 

Suzlon will install 127 wind turbine generators in the Koppal region of Karnataka, each with a capacity of 3.15 MW. 

The electricity generated will be used to power steel plants in Chhattisgarh and Odisha, promoting sustainability in steel production.

About Jindal Renewable Power Private Limited (JRPL):

Jindal Renewable Power Private Limited (JRPL is focused on leading renewable energy initiatives in India, currently working on nearly 3 GW of various renewable projects with secured power contracts. The company plans to expand its portfolio to approximately 12 GW by 2030, which will include renewable energy assets, storage solutions, and significant green hydrogen production facilities, positioning itself as a major player in carbon reduction in the country.

About Suzlon Group:

The Suzlon Group is a prominent provider of renewable energy solutions globally, with around 20.8 GW of wind energy capacity installed in 17 countries. Based in Pune, India, Suzlon encompasses Suzlon Energy Limited and its subsidiaries. The organization features in-house research and development centers in Germany, the Netherlands, Denmark, and India, along with manufacturing facilities across India. With over 29 years of experience, Suzlon employs more than 6,400 people and holds the title of India’s leading wind energy service company, boasting a service portfolio of over 14.8 GW. The Group also has around 6 GW of capacity installed outside India and offers a range of products, including its 2 MW and 3 MW wind turbines.