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The one-hour <keyword id="23618998" type="General" weightage="100" keywordseo="Muhurat-trading" source="keywords">muhurat trading</keyword> session, which marks <keyword id="20963892" type="General" weightage="20" keywordseo="Diwali-2024" source="keywords">Diwali 2024</keyword> and the onset of Hindu Samvat 2081 on both NSE and BSE, is set to commence at 6 pm today and will conclude at 7 pm. Generally, investors and traders make symbolic stock buys during this hour-long session, since it is believed that purchases made during this time herald wealth and prosperity for one’s investments for the year to come. If you are looking for <keyword id="19910146" type="General" weightage="20" keywordseo="stock-recommendations" source="keywords">stock recommendations</keyword> to add to your portfolio, here are a few value picks by SAMCO and Kotak Securities you can consider: <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> Ltd Holding period: 1 year Last Traded Price: Rs 1,734.30 Per the firm, “The bank has maintained a robust 10-year profit CAGR of 21.74%, operating with a NIM (net interest margin) of 3.5% and a low net NPA (non-performing assets) of 0.3%. Advances and deposits have shown steady growth. Currently, the stock trades below its 10-year average price-to-book value and at a price-to-earnings ratio of 19, offering a favorable risk-reward profile with a substantial downside buffer”. <keyword id="22086440" type="General" weightage="20" keywordseo="Vindhya-Telelinks" source="keywords" meta.keywordsubtype="org" meta.entityname="Vindhya Telelinks" meta.hostid="261" meta.entityid="Vindhya Telelinks">Vindhya Telelinks</keyword> Ltd Holding Period: 1 year Last Traded Price: Rs 1,992.55 SAMCO notes that this key cable manufacturing, which is a joint venture between Universal Cables Limited and Madhya Pradesh State Industrial Development Corporation, has shown robust growth over the last 5 years, nearly doubling revenues with a 14.3% CAGR. The company holds significant investments in Birla Cable Ltd, Birla Corporation Ltd, and Universal Cable Ltd, totaling Rs 3,618 crore—surpassing its market capitalization of Rs 2,545 crore. This solid investment base underscores Vindhya Telelinks’ strong fundamentals and financial potential. <keyword id="23763358" type="General" weightage="20" keywordseo="Ramco-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Ramco Industries" meta.hostid="261" meta.entityid="Ramco Industries">Ramco Industries</keyword> Ltd Holding Period: 1 year Last Traded Price: Rs 244.89 SAMCO observes that over the past decade, sales grew at a 7% CAGR, while the share price rose at a 14% CAGR. Known for its financial stability, Ramco Industries boasts a low debt-equity ratio of 0.07 and has consistently paid dividends since FY17, currently yielding 0.31%. The stock’s attractive price-to-book multiple of 0.5 offers a solid margin of safety, highlighting its investment appeal. <keyword id="22786675" type="General" weightage="20" keywordseo="Gravita-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Gravita India" meta.hostid="261" meta.entityid="Gravita India">Gravita India</keyword> Holding Period: 12 months Last Traded Price: Rs 2,119 Kotak explains that Gravita India is the market leader in India’s emerging recycling industry with a focus on lead recycling. Gravita India is increasing its recycling capacity by a massive 72% to 500 ktpa by FY27E. “We expect the company’s earnings per share to grow by 31.8% in FY25E &amp; 31.6% in FY26E. We also expect an upside of 15% or more on this stock over the next 12 months”, adds Kotak’s note. <keyword id="23763359" type="General" weightage="20" keywordseo="S-H-Kelkar" source="keywords" meta.keywordsubtype="org" meta.entityname="S H Kelkar" meta.hostid="261" meta.entityid="S H Kelkar">S H Kelkar</keyword> and Company (SHKL) Holding Period: 12 months Last Traded Price: Rs 289.90 The company is a flavors &amp; fragrances (F&amp;F) supplier and has started to make inroads into the global market. SHK is well-placed to drive double-digit revenue growth. The company is a small but emerging contender in the vast F&amp;F market, with potential for margin expansion—higher-margin geographies &amp; operating leverage—allowing for over 15% return upside in the next 12 months. Kotak Securities further notes that FY25 will likely see more broad-based growth across sectors. However, the OMCs (oil marketing companies) may likely drag down overall profits. Most sectors and stocks are quite overvalued, with the degree of overvaluation ranging from: (1) low for most large-cap consumers, IT services, and pharmaceuticals (2) medium in the investment space (3) high in the case of several low-quality companies. "As the broader market valuations are rich, opportunities arising from market correction can be used to add quality stocks (with attractive valuations) from a long-term investment perspective," explains the research firm's note. SAMCO further advises adding a little glitter to your portfolio using GoldBees and SilverBees ETFs since there are recessionary fears in the US and geopolitical tensions across the world. Even central bankers like RBI have been adding gold to their vaults like never before. At present, markets are looking to secure their return on capital rather than seeking a return on capital. "Thus all of these make a strong case to add gold and silver to the portfolio. They will give stability to your portfolio this Samvat," adds SAMCO's note.

Muhurat trading 2024: 5 stock picks you can consider this time around

The Indian pharmaceuticals industry is expected to log in a revenue growth of 8-10 per cent in current fiscal aided by a steady domestic growth and increased exports to regulated markets, even as semi-regulated markets face headwinds, according to a report. A study of 186 drug makers, which accounted for about half of the Rs 3.7 lakh crore annual revenue of the sector last fiscal, indicates as much, <keyword id="6359483" type="General" weightage="100" keywordseo="crisil" source="Orion">Crisil</keyword> said on Monday. "Similar to last fiscal, domestic growth in fiscal 2024, will be led by 5-6 per cent increase in realisations, supported partly by high price hikes allowed by the <keyword id="390804" type="General" weightage="50" keywordseo="national-pharmaceutical-pricing-authority" source="Orion">National Pharmaceutical Pricing Authority</keyword> (NPPA) for drugs under price regulation," Crisil Research Director <keyword id="13891160" type="General" weightage="50" keywordseo="aniket-dani" source="Orion">Aniket Dani</keyword> said. In addition, sale of existing drugs and new launches will drive 3-4 per cent volume growth, he added. Operating profitability is also seen improving 50-100 basis points (bps) to 21 per cent this fiscal, supported by moderation in input and logistics costs, and abating pricing pressure in the US generics market, it said. This follows two consecutive years of margin contraction due to high pricing pressure in the US and a sharp rise in input costs caused by supply chain disruption during the Covid pandemic, and thereafter, Crisil noted. Credit profiles will remain stable owing to low-leverage balance sheets and moderate capex plans, it stated. In the ongoing fiscal, domestic sales are expected to witness 8-10 per cent growth with the chronic segment expected to be the key contributor to revenues, because of the steady increase in lifestyle-related diseases and continued emphasis on health awareness, post the pandemic, Crisil said. Formulation exports are seen up 7-9 per cent in rupee terms this fiscal, more driven by volumes, from new product launches, and abating price pressure in the US generics markets, it said. On the other hand, increase in claw-back taxes in select <keyword id="28249" type="General" weightage="50" keywordseo="europe" source="Orion">Europe</keyword>an markets could lead to lower growth in exports to Europe this fiscal, it added. "Growth in exports to Asia will improve this fiscal, after clocking a modest growth last fiscal, while exports to Africa will continue to remain sluggish on account of low forex reserves (impacting the purchasing power) and high currency volatility," Crisil said. Lower input prices and normalisation of supply chains should cull inventories to pre-pandemic levels, resulting in smaller incremental working capital debt this fiscal, it added. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/pixel-watch-2-gets-set-to-take-on-galaxy-watch-6-and-apple-watch-series-9-in-india/articleshow/103567404.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/pixel-watch-2-gets-set-to-take-on-galaxy-watch-6-and-apple-watch-series-9-in-india/articleshow/103567404.cms" target="_blank">Pixel Watch 2 gets set to take on Galaxy Watch 6 and Apple Watch Series 9 in India</a> <a href="https://www.businessinsider.in/tech/mobile/news/how-the-iphone-15-and-iphone-15-pro-models-will-differ/articleshow/103513314.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/how-the-iphone-15-and-iphone-15-pro-models-will-differ/articleshow/103513314.cms" target="_blank">Here’s how the iPhone 15 and iPhone 15 Pro models will differ</a> <a href="https://www.businessinsider.in/business/auto/news/volvo-c40-recharge-with-530-km-range-launched-in-india-for-61-25-lakh/articleshow/103382328.cms">Volvo C40 Recharge with 530 km range launched in India for ₹61.25 lakh</a>

Indian pharma industry to log in 8-10% revenue growth this fiscal: Crisil

<ul><li>Finance Minister Nirmala Sitharaman tabled the <keyword id="20613906" type="General" weightage="20" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> 2023-2024 in the Lok Sabha on Monday.</li><li>The Union Budget 2024 is scheduled to be tabled on Tuesday, July 23.</li><li> <keyword id="19935818" type="General" weightage="20" keywordseo="industries" source="keywords">Industries</keyword> grew by 9.5% in FY24 as per the <keyword id="19967933" type="General" weightage="100" keywordseo="Economic-Survey-2024" source="Orion">Economic Survey 2024</keyword>.</li></ul> Finance Minister Nirmala Sitharaman on Monday tabled the <a href="https://www.businessinsider.in/budget/news/budget-2024-live-news-top-things-every-indian-should-know-about-the-economic-survey-2023-24/articleshow/111918064.cms">Economic Survey</a> 2023-2024 in the Lok Sabha, a day ahead of the Budget being tabled. The upcoming budget will be the first budget in the third term of the Narendra Modi-led government. As per the Economic Survey, India’s real gross domestic product (GDP) grew by 8.2% in FY24, while <keyword id="19948494" type="General" weightage="20" keywordseo="global-economic-growth" source="keywords">global economic growth</keyword> was at 3.2% in 2023. <h2>What is an Economic Survey?</h2>The Economic Survey is a is a report card on the economy and presents the growth outlook of the country. It is prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance. <div type="Article" hostid="261" msid="111918064" title="Economic Survey 2024: GDP grew by 8.2%, to sustain 7%+ growth momentum, fiscal deficit down to 6.4% of GDP" mstype="2" mssubtype="0"></div> It provides statistical information and analyses the various sectors of the economy, economic growth, employment, inflation and more. <h2>Industries grow by 9.5%</h2>As per the report, the economic growth of 8.2% was fueled by an industrial growth of 9.5%. The manufacturing and construction sector nearly doubled, while other sectors also reported growth. The manufacturing sector has achieved an average annual growth rate of 5.2% in the last decade. Chemicals, wood products and furniture, transport equipment, pharmaceuticals, machinery, and equipment have emerged as the key drivers of the sector. From an importer, India has emerged as a net exporter of finished steel products in the last decade and the industry has achieved its best-ever numbers in FY24. Another area where imports have been reigned is coal. Coal production in India has rapidly grown over the last five years, reducing import dependence. In FY24, India produced 997.2 million tonnes of coal, imported 261 million tonnes, and consumed 1233.86 million tonnes. The export of textiles and apparel increased by 1% in FY24, reaching ₹2.97 lakh crore. The electronics industry, a key sector has reported good growth in the last decade. While the domestic production of electronic items increased to ₹8.22 lakh crore, the exports increased to ₹1.9 lakh crore. Patents are a key part of an industry’s growth as they show an investment in research and development. The number of granted patents increased seventeen-fold from 5,978 in 2014-15 to 1,03,057 in 2023-24. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budget-2024-live-news-top-things-every-indian-should-know-about-the-economic-survey-2024-25/articleshow/111918064.cms">What is the Economic Survey all about? Top 10 things every Indian should know from the Economic Survey 2023-24</a> <a href="https://www.businessinsider.in/tech/webstories/biggest-crypto-hacks-in-the-world-so-far-from-binance-to-ftx/slidelist/111917081.cms">Biggest crypto hacks in the world so far – from Binance to FTX</a> <a href="https://www.businessinsider.in/budget/news/budget-2024-expectations-fame-scheme-aid-for-vehicle-scrapping-and-other-expectations-of-the-auto-industry/articleshow/111783199.cms">Budget 2024 Expectations: FAME scheme, aid for vehicle scrapping and other expectations of the auto industry</a>

Economic Survey 2024 – industries grow by 9.5%, fueling economic growth to 8.2%

The country's drugs and <keyword id="20006091" type="General" weightage="20" keywordseo="pharmaceuticals" source="keywords">pharmaceuticals</keyword> exports increased 9.67 per cent year-on-year to USD 27.9 billion in 2023-24, even as the total exports dipped by 3 per cent in the last fiscal. According to the commerce ministry data, <keyword id="20988985" type="General" weightage="20" keywordseo="pharma-exports" source="keywords">pharma exports</keyword> in March grew by 12.73 per cent to USD 2.8 billion. In 2022-23, the exports stood at USD 25.4 billion. The top five export markets, for the sector during the last fiscal, are the US, the UK, the Netherlands, the United Kingdom, South Africa and Brazil. The US accounts for over 31 per cent of <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s total pharma exports, followed by the UK and Netherlands (about 3 per cent each). In 2023-24, the outbound shipments also entered new geographies like Montenegro, South Sudan, Chad, Comoros, Brunei, Latvia, Ireland, Chad, Sweden, Haiti and Ethiopia. An industry expert said that increasing market opportunities and healthy demand in countries like the US are helping exports to record healthy growth rates month after month. Experts have said that India's pharmaceutical business may exceed USD 130 billion by 2030, supported by expanding market opportunities and heightened demand in the overseas markets. The business stood at over USD 50 billion for the 2022-23. On average, India exports pharma products worth USD 2-3 billion every month. India's pharmaceutical industry is the third largest by volume and the 13th largest by value in the world, producing more than 60,000 <keyword id="20581305" type="General" weightage="20" keywordseo="generic-drugs" source="keywords">generic drugs</keyword> across 60 therapeutic categories. The government has rolled out two production-linked incentive (<keyword id="19958919" type="General" weightage="20" keywordseo="pli" source="keywords">PLI</keyword>) schemes to promote domestic manufacturing of key pharmaceutical ingredients and generic medicines. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a><a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a>

India's pharma exports rise 10% to $27.9 bn in FY24

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Friday! President Joe Biden delivered a State of the Union yesterday that was unlike any in recent memory. He seized the opportunity to <a target="_blank" href="https://www.businessinsider.com/biden-state-of-the-union-speech-takeaways-trump-attacks-campaign-2024-3">tear into his predecessor</a>, Donald Trump — and Trump was quick to vent his fury online.In today's big story, we're looking at pharma companies' surging stocks and <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tech-stocks-jpmorgan-retail-traders-dump-magnificent-7-for-pharma-2024-3">threatening tech darlings</a> thanks to their weight-loss drugs.What's on deck:<ul><li>Markets: Stock buybacks are <a target="_blank" href="https://markets.businessinsider.com/news/stocks/us-stock-buyback-record-forecast-cash-tech-earnings-growth-goldman-2024-3">set to make a massive comeback</a>.</li><li>Tech: Apple is having a <a target="_blank" href="https://www.businessinsider.com/apple-just-cant-seem-to-catch-a-break-this-year-2024-3">tough go of it</a>.</li><li>Business: Make way for bike lanes! <a target="_blank" href="https://www.businessinsider.com/bike-lanes-good-for-business-studies-better-streets-2024-3">They'll actually help your business</a>.</li></ul>But first, there's a new kid on the block.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3>The big story</h3><h2>Magnificent weight loss</h2><div type="image" title="A person holding a vial." height="650" width="1300" msid="108334141" hostid="261" sizebytes="27506"></div>Weight-loss drugs have become a trendy way to shed pounds in recent years. The companies behind them are now slimming down a new target: The Magnificent 7.Mom-and-pop investors have been net sellers of most of the Magnificent 7 stocks, selling off shares of Tesla, Apple, Alphabet, and Microsoft, according to a new note from JPMorgan.Meanwhile, pharmaceutical companies appear to <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tech-stocks-jpmorgan-retail-traders-dump-magnificent-7-for-pharma-2024-3">have gained what the market's tech darlings lost</a>, writes Business Insider's Yuheng Zhan. Eli Lilly, Pfizer, and Novo Nordisk have grabbed the attention of retail investors, according to JPMorgan.That shift was evident Thursday. Shares of Novo Nordisk, the drug maker behind Wegovy, surged to a record high following an update on a new obesity drug, <a target="_blank" href="https://markets.businessinsider.com/news/stocks/novo-nordisk-stock-price-market-cap-tesla-obesity-drug-wegovy-2024-3">pushing its market cap ranking</a> past Magnificent 7 laggard Tesla.Expectations are high for fellow weight-loss drugmaker Eli Lilly. Bank of America assigned it a $1,000 price target, the highest on Wall Street, off the potential its weight-loss drug <a target="_blank" href="https://markets.businessinsider.com/news/stocks/eli-lilly-stock-outlook-weight-loss-drug-bofa-upgrade-glp1-2024-3">tops $60 billion in sales by 2030</a>. And some have speculated it could <a target="_blank" href="https://markets.businessinsider.com/news/stocks/eli-lilly-stock-diabetes-ozempic-wegovy-weight-loss-drug-pharma-2023-12">become the first trillion-dollar drug company</a>.<a target="_blank" href="https://www.businessinsider.com/magnificent-7-stocks-no-tech-bubble-burst-2024-2">Market experts expected investors to exit some of their Magnificent 7 positions</a> to realize some of the massive gains they accumulated last year. And retail investors remain buyers of Nvidia, the crown jewel of the Mag 7, JPMorgan said.But the growth these pharma companies have already shown is impressive. And it comes despite only 1% of US adults taking weight-loss drugs, <a target="_blank" href="https://www.businessinsider.com/weight-loss-stocks-supplying-developing-drugs-like-ozempic-list-2024-3">according to Bank of America</a>, which predicts that number could rise to 15% by 2035.<div type="image" title="Four photos of patients and doctors against a blue background." height="1500" width="2000" msid="108334142" hostid="261" sizebytes="156266"></div>Not unlike artificial intelligence, which has pushed tech stocks higher, the weight-loss drugs fueling pharmaceuticals' recent rally have their critics.The most notable concerns stem from a lack of understanding of the <a target="_blank" href="https://www.businessinsider.com/weight-loss-glp-1-drugs-ozempic-wegovy-mounjaro-effects-future-2023-12">long-term effects of the drugs</a>, which act on our neural pathways. For some, their loss of appetite has come with a similar apathy towards other things, like work or sex.Weight-loss drugs are also cutting more than just fat. Doctors have raised concerns about <a target="_blank" href="https://www.businessinsider.com/weight-loss-drug-semaglutide-ozempic-causes-muscle-loss-doctor-warns-2023-3">the major loss of muscle mass</a> people on these drugs can experience, especially if they're not getting enough protein or exercise.Drug companies are already considering ways to <a target="_blank" href="https://www.theatlantic.com/health/archive/2024/02/ozempics-muscle-loss-problem/677326/">incorporate drugs that can help users build muscle while also losing fat</a>, according to The Atlantic.For Wall Street, meanwhile, the equation is much simpler: Getting more people on weight-loss drugs boosts the economy. The US GDP <a target="_blank" href="https://www.businessinsider.com/us-economy-faster-growth-ozempic-glp-1-weight-loss-drugs-2024-2">could grow an extra 1% if 60 million Americans took GLP-1 drugs by 2028</a>, according to Goldman Sachs' chief economist.<h2>3 things in markets</h2><div type="image" title="Market bull money stocks" height="1537" width="2049" msid="108334235" hostid="261" sizebytes="486504"></div><ol><li>Companies buying their own stock is back in fashion. Share repurchases will hit <a target="_blank" href="https://markets.businessinsider.com/news/stocks/us-stock-buyback-record-forecast-cash-tech-earnings-growth-goldman-2024-3">$925 billion this year and $1 trillion next year</a>, according to Goldman Sachs. The trend, which will be powered by cash-rich mega-cap tech companies, is thanks to strong earnings growth, the bank said. However, the Biden administration is mulling <a target="_blank" href="https://markets.businessinsider.com/news/stocks/joe-biden-administration-wants-to-quadruple-taxes-on-stock-buybacks-2024-3">quadrupling taxes on stock buybacks</a>.</li><li>A billionaire real estate mogul has some stern words for the Fed. Barry Sternlicht said the real estate industry was "minding our own business" when <a target="_blank" href="https://www.businessinsider.com/commercial-real-estate-crisis-crash-fed-economy-inflation-rates-sternlicht-2024-3">it became "collateral damage" of the Fed's aggressive rate hikes</a>. He also pointed to the Fed's tightening policy amid government spending on the Infrastructure Investment And Jobs Act and the Inflation Reduction Act.</li><li>An old hedge-fund strategy makes a comeback. Alpha capture strategies, which generate investment portfolios by aggregating inputs from sources including human traders, market data, and sell-side research, are <a target="_blank" href="https://www.businessinsider.com/alpha-capture-hedge-funds-quantamental-2024-3">hot again in the hedge-fund world</a>.</li></ol><h2>3 things in tech</h2><div type="image" title="The Apple logo on a store." height="1334" width="2000" msid="108334237" hostid="261" sizebytes="57978"></div><ol><li>Apple can't catch a break. It's been <a target="_blank" href="https://www.businessinsider.com/apple-just-cant-seem-to-catch-a-break-this-year-2024-3">a rough week for the iPhone maker</a>: On Monday, the European Commission slapped it with a $2 billion fine. Then, a report found its iPhone sales in China had dropped 24% in the first six weeks of the year. And that's saying nothing of its abandoned EV ambitions.</li><li>Tesla's value is sagging — bringing Elon Musk down with it. The EV company has seen <a target="_blank" href="https://www.businessinsider.com/tesla-stock-price-elon-musk-mcdonalds-disney-ev-market-cap-2024-3">its value slump by $234 billion</a> this year. That's more than McDonald's, Disney, or Nike are worth. In turn, Musk's wealth has <a target="_blank" href="https://www.businessinsider.com/elon-musk-wealth-down-40-billion-this-year-tesla-stock-slide-2024-3">dropped by almost $40 billion</a> since the start of 2024.</li><li>TikTok is fighting back against Congress. Lawmakers are talking about banning the app once again — and the White House has signaled it thinks that's a good idea. TikTok has responded by <a target="_blank" href="https://www.businessinsider.com/tiktok-ban-china-congress-bill-force-sale-bytedance-why-2024-3">sending messages to some users</a> that urge them to help it stop a shutdown.</li></ol><h2>3 things in business</h2><div type="image" title="An illustration of a bike locked to a parking meter." height="1000" width="2000" msid="108334240" hostid="261" sizebytes="273882"></div><ol><li>Bike lanes are good for business. Some store owners worry that bike lanes take away parking spots, hindering customers' access to shops. But studies have shown bike lanes do nothing to reduce business — and <a target="_blank" href="https://www.businessinsider.com/bike-lanes-good-for-business-studies-better-streets-2024-3">may actually help improve sales</a>.</li><li>Temu will open to US merchants soon. US-based merchants told BI <a target="_blank" href="https://www.businessinsider.com/us-europe-amazon-sellers-eager-for-temu-platform-launch-2024-3">they're eager to sell on Temu</a> as it rapidly grows. The Chinese ecommerce platform has made a splashy entrance into the American market, reportedly <a target="_blank" href="https://www.businessinsider.com/temu-millions-on-meta-ads-staff-joked-gift-card-rewards-2024-3">spending $2 billion for advertising on Meta</a>.</li><li>Check out Rivian's new EVs. The carmaker revealed two new SUVs on Thursday: the long-awaited R2 and a surprise, smaller version called the R3. "These represent our future," Rivian CEO RJ Scaringe said. <a target="_blank" href="https://www.businessinsider.com/rivian-r2-suv-release-price-range-specs-photos-2024-3">Take a look</a> at the designs, specs, and other features.</li></ol><h2>In other news</h2><ul><li><a target="_blank" href="https://www.businessinsider.com/rupert-murdoch-marriage-engaged-elena-zhukova-2024-3">Rupert Murdoch is taking yet another shot at marriage at the age of 92</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/pe-vc-investors-flock-to-sports-ai-after-peak-tv-2024-3">Private-equity and VC investors look to sports, AI, and live events as the era of peak TV draws to a close</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/hedge-funds-lincoln-center-fundraiser-steve-cohen-new-york-2024-3">Inside hedge funds' big Lincoln Center bash: Caviar, acrobats, and a professed love for New York 'even if we move to Florida.'</a></li><li><a target="_blank" href="https://www.businessinsider.com/dc-restaurant-service-charges-fees-allowed-if-disclosed-to-customers-2024-3">Live in DC? Get ready for 20% service charges when you eat out</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/work-life-balance-doctor-joseph-maroon-triathlete-2024-3">A busy 83-year-old doctor who does triathlons shares his 'square method' for maintaining a work-life balance</a>.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-holdings-portfolio-allocation-price-gold-crypto-rally-safe-haven-2024-3">Bitcoin is replacing gold in investor portfolios</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/netflix-love-is-blind-charlotte-suburban-housing-debate-walkable-density-2024-3?sd">'Love is Blind' fans are bashing the cookie-cutter Charlotte suburbs featured on the show. Here's how experts say they can be improved</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/ray-dalio-taylor-swift-concert-selfie-endorsed-her-president-2024-3">Ray Dalio went to a Taylor Swift concert, took a selfie, and endorsed her for president</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/creative-director-merkley-partners-lawsuit-sexual-assault-2024-3">Omnicom agency Merkley+Partners hit with lawsuit accusing ex-creative director of raping a social media strategist in the bathroom</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/food-product-recalls-increasing-cinnamon-2024-3">Noticing more product recalls lately? It's not just you</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/victoria-cruises-line-travelers-refunds-residential-cruise-vcl-2024-2">Travelers booked the residential cruise of their dreams. Now, some doubt it'll happen — and say they've waited months for refunds</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/5g-advanced-standalone-6g-qualcomm-huawei-mwc-2024-3">5G had a slow and messy start. New 5G technologies could finally bring the faster networks we were promised</a>.</li></ul><h2>What's happening today</h2><ul><li>SXSW kicks off today.</li></ul>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/george-glover">George Glover</a>, reporter, in London.

Pharmaceutical companies behind weight-loss drugs are slimming down a new target: The Magnificent 7

<ul><li>The portfolio includes approximately 45 commercial products, four pipeline products and 40 approved non-marketed products, including a number of generic products focused on women's health.</li><li><keyword id="44587" type="General" weightage="20" keywordseo="Dr-Reddy" source="Orion">Dr Reddy</keyword>'s will acquire the portfolio for an upfront payment of approximately $90 million in cash.</li><li>For the financial period ended June 30, 2022, <keyword id="277934" type="General" weightage="20" keywordseo="Mayne-Pharma" source="Orion">Mayne Pharma</keyword> reported total revenue of $111 million for the acquired portfolio.</li></ul> <keyword id="67944" type="General" weightage="20" keywordseo="Dr-Reddys-laboratories" source="Orion">Dr Reddy's Laboratories</keyword> Ltd on Monday said its subsidiary entered into a definitive agreement to acquire the US generic prescription product portfolio of Australia-based Mayne Pharma Group Limited for USD 105 million. A press release form Dr Reddy's said the portfolio includes approximately 45 commercial products, four pipeline products and 40 approved non-marketed products, including a number of generic products focused on women's health. Under the terms of the agreement, Dr Reddy's will acquire the portfolio for an upfront payment of approximately USD 90 million in cash, contingent payments of up to USD 15 million, consideration towards inventory and credits for certain accrued channel liabilities to be determined on the closing date, it said. For the financial period ended June 30, 2022, Mayne Pharma reported total revenue of USD 111 million (USD) for the acquired portfolio. Approved high-value products include a hormonal vaginal ring, a birth control pill and a cardiovascular product. The closing of the transaction is subject to satisfactory completion of customary closing conditions including the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), as amended. The acquisition will complement Dr Reddy's US retail prescription <keyword id="6469017" type="General" weightage="20" keywordseo="pharmaceutical" source="Orion">pharmaceutical</keyword> business with limited competition products. It also supports Dr Reddy's efforts to accelerate and expand affordable medications for patients, the release further said. Marc Kikuchi, Chief Executive Officer, North America business, Dr Reddy's, said, "This important acquisition provides our North America organisation with a significant foothold in the women's health space. The acquisition is in line with our stated strategy to enhance our portfolio in our chosen growth markets. We are well-positioned to successfully integrate the portfolio and grow the business." Erez Israeli, Chief Executive Officer, Dr Reddy's, said, "The portfolio of products acquired from Mayne Pharma is a strategic fit with our growth objectives. The portfolio includes some high entry-barrier products. It also complements our existing portfolio by introducing products focused on women's health. Our strong balance sheet enables us to acquire products of strategic importance to strengthen our base business and build for long-term growth." The value of total addressable market for the pipeline and approved non-marketed products in the US is approximately USD 3.6 billion for the calendar year ending in December 2022 according to IQVIA, the release said.

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