Business News

·        Pydah takes over as Oriental Bank CMD

·        Hero Honda posts 33% Dec sales growth

·        Lupin settles drug patent litigation

Pydah takes over as Oriental Bank CMD

Nagesh Pydah on Monday took charge as chairman and managing director of Oriental Bank of Commerce (OBC). Prior to this, he was executive director of Punjab National Bank. He succeeds T.Y. Prabhu who superannuated on 31 December, 2010.

During his career spanning over 37 years, he had an overseas stint at Bank of India's New York Branch for over four years.

Hero Honda posts 33% Dec sales growth

Country's largest two wheeler maker Hero Honda Motors Ltd posted a growth of 33% to 501,111 units in December as compared to the same month last year, the company said in a statement. The company also registered a year on year growth of 16.4% by selling five million units in 2010.

Lupin settles drug patent litigation

Drug firm Lupin Ltd on Monday said it has settled ongoing litigation over Lunesta tablets, used in treating insomnia, with Japan based Dainippon Sumitomo Pharma Co.
Ltd.

The company and its US subsidiary Lupin Pharmaceuticals Inc. have settled all ongoing litigation over Lunesta tablets, thereby, dismissing a patent suit brought by the drug's maker, Dainippon Sumitomo's subsidiary Sunovion Pharmaceuticals Inc, Lupin said in a statement to the Bombay Stock Exchange.