Apollo Health Signs MoU With SBI For Financing Apollo Clinics Franchises

Apollo Health & Lifestyle (AHLL), a wholly-owned subsidiary of Apollo Hospitals, on Friday said it has signed an MoU with State Bank of India to offer term loans to its franchises. Under the MoU, AHLL will nominate State Bank of India as its preferred financier to its prospective franchises for opening of Apollo clinics throughout India, AHLL said in a release. The MoU was signed between Ratan Jalan, CEO AHLL and J Chandrasekaran, General Manager, SME Business Unit, State Bank of India. "SBI will be offering an attractive rate of interest on the term loans to the prospective Apollo franchises with a maximum of 66% on the project cost and a 75% on the working capital requirement," said J Chandrasekaran, GM, SME-Business Unit, SBI. State Bank of India is also keen to offer term loan on the same terms to existing franchises of The Apollo Clinic, it said. Ratan Jalan, CEO, AHLL, said, "This tie-up with State Bank of India comes just at the right time and the national reach and attractive terms offered by the SBI will enable us to grow at an accelerated pace.

(Ref: Economic Times Dated March 12, 2005)

Wockhardt launches automatic insulin delivery devices

Pharmaceutical major Wockhardt Ltd has launched India's first automatic insulin delivery device specially designed for the convenience of Indian diabetic patients.

"It was only 18 months ago since we launched Wosulin, Asia's first recombinant insulin," Wockhardt chairman Habil Khorakiwala said. "Wosulin made insulin more affordable and helped expand usage among Indian diabetics by 20 per cent. We have now developed Wosulin Cartridge at our Biotech Park. Our cartridge, coupled with the pen, will not only offer great convenience of the device, it will be more affordable too,:" he added.

Wosulin Pen has a unique dial system, which can select the right dose of insulin. "All the patient has to do is to press an automatic plunger to deliver insulin just under the skin. Since it is like a normal pen, it can be carried easily and its usage could be quite discreet. It will be a boon for diabetic patients who are on the move," Khorakiwala explained in release.

(Ref : Chronicle Pharmabiz February 17, 2005)