Current Affairs For Bank, IBPS Exams - 04 March, 2014

Current Affairs For Bank, IBPS Exams

Natco Pharmaceuticals, the Hyderabad-based drug manufacturer, has won a patent case against Teva Pharmaceuticals of Israel.
The New Delhi High Court dismissed Teva’s suit seeking an injunction over the marketing of a generic version of multiple sclerosis drug, copaxone (glatiramer acetate) in the U.S. While Teva does not have a patent on the drug in India, the injunction sought to prevent Natco exporting it.
The decision could allow Natco to launch generic version of Teva’s Copaxone in the U.S., subject to approval from the U.S. Food & Drug Administration (USFDA).
The patent on the $4 billion sales drug, expires in the U.S. on May 24, 2014.
Teva sued Natco, seeking an injunction as it alleged Natco’s move infringed on its process patent.

The Maharashtra government formally signed shareholder and state support agreements for the ambitious Delhi-Mumbai Industrial Corridor (DMIC) project, in Mumbai recently.
The project aims at generating industrial output of Rs 20 lakh crore by 2042.
DMIC is slated to be developed in two phases, with the project cost for the first phase being Rs 17,319 crore. Maharashtra Industrial Development Corporation (MIDC) and DMIC Trust has formed a joint venture to execute the project, in which MIDC will hold 51% stake, while the remaining 49% will be held by DMIC.
Phase one will include development of 84 square kilometre of Shendre-Bidkin industrial city, an engineering cluster, food park, textile and printing and construction cluster. It will also have a multi-modal logistic hub spread across 100 hectares of land in Karmad and an exhibition-cum-convention centre spread over 20 hectares in Aurangabad, alongwith water supply scheme for Shendre.
The second phase of the project will cover Dighi port industrial area, Dhule mega industrial park, Nashik-Sinnar-Igatpuri investment region, multimodal logistic park, Nashik-Sinnar-Igatpuri investment region, multimodal logistic park and greenfield mega city in Ahmednagar.
The DMIC projects in Maharashtra would cover nearly 29% of land area and 18% project influence area. Around 26% of the state's population would come under the corridor that covers eight districts - Thane, Raigad, Pune, Dhule, Nandurbar, Nashik, Ahmednagar and Aurangabad.

The International Boxing Federation (AIBA) has reportedly terminated any official relationship with its current suspended member, the Indian Amateur Boxing Federation (IABF), for damaging the image, reputation and interest of the sport in the country.
According to the official AIBA website, AIBA has not recognized any official activities and did not support the officers from IABF since the December 2012 suspension, adding that after receiving disturbing reports on the way the sport of boxing was managed in India, it has now become impossible for them to continue any association with India.
The AIBA Executive Committee will make a final decision and rehabilitate a National Federation as soon as it 'deems that it has found the right group of people who will support the principles of AIBA in terms of ethics and fairness and who care primarily about the boxers and the sport and not about their personal interests'.
Boxers and coaches will remain protected and authorized to compete at any competition at all levels under the AIBA flag. AIBA also hopes that the IOA will give its full cooperation until AIBA approves a new National Federation for the sake of the sport of boxing in India.

India's doubles tennis player Rohan Bopanna leaped four places to 12th in the latest ATP rankings.
The Indian achieved the feat after clinching the Dubai Duty Free Tennis Championships title with Pakistani Aisam ul Haq Qureshi.
Meanwhile, Leander Paes still remains India's highest ranked doubles player at No.10 while another veteran Mahesh Bhupathi slipped six places to No.47.
In the men's singles category, Somdev Devvarman and Yuki Bhambri remained static at 78th and 146th, respectively, while Sania Mirza is No.11 in the women's doubles list.