MAM
Cyient to acquire majority stake in Rangsons Electronics
MUMBAI: Cyient has signed a definitive agreement to acquire 74 per cent equity stake in Rangsons Electronics, an electronics system design and manufacturing (ESDM) services company, headquartered in Mysore, in an all-cash transaction.
The acquisition positions Cyient strongly to expand into high-technology and high-value, design-led systems and solutions in line with the company’s S3 (services, systems and solutions) strategy.
Cyient MD and CEO Krishna Bodanapu said, “With its strong domain expertise coupled with a comprehensive solution portfolio, industry-relevant processes, certifications, and global customers, Rangsons Electronics fits extremely well in Cyient’s business. The new relationship will help Cyient expand its core business while deepening partnerships with OEM customers. I look forward to working closely with the Rangsons team to achieve the maximum synergy from this acquisition, and believe that this will make our offerings even more attractive to our customers.”
Rangsons Electronics is a well-established ESDM and systems integration vendor with over two decades of experience in developing highly complex systems.
“Rangsons Electronics has built India’s leading platform within the electronics segment with client-centric service delivery, driven by award winning quality systems. We have found a complementary partner in Cyient, who has built a global engineering solutions business backed by strong technology and ethos. We are proud to associate with them and believe the combined entity will be positioned uniquely as an end-to-end integrated engineering, design and manufacturing provider. My team and I are very excited about this association and look forward to achieving our shared growth objectives”, said Rangsons Electronics CEO Pavan Ranga.
The proposed acquisition is Cyient’s third in less than a year, and reflects the company’s strong growth focus. Its acquisitions earlier in 2014 included Softential, a US-based end-to-end IT service management/assurance solution vendor, and Invati Insights, a start-up data sciences company.
Brands
Bayer sues Johnson & Johnson over prostate cancer drug advertisements
Legal dispute begins as Bayer claims rival marketing is based on flawed data
NEW YORK: Bayer has filed a federal lawsuit against Johnson & Johnson (J&J) in New York, alleging that the American pharmaceutical company has used false and misleading advertisements to promote its prostate cancer treatment, Erleada. The dispute centres on claims that Erleada is significantly more effective than Bayer’s competing drug, Nubeqa.
The legal action follows a J&J marketing campaign that cited a 51 per cent reduction in the risk of death for patients using Erleada compared to those on Nubeqa. Bayer contends that these figures are based on a study with severe methodological errors rather than a controlled clinical trial.
Bayer’s legal team argues that J&J’s real-world analysis is fundamentally flawed. According to the complaint, J&J claimed to have 24 months of patient data supporting its conclusions, even though many patients included in the study had reportedly been on the medication for only a few months, raising concerns about the reliability of long-term survival comparisons.
The lawsuit also highlights what Bayer describes as a critical approval gap. For most of the period analysed in J&J’s study, Nubeqa had not yet been approved for the specific indication being evaluated, which Bayer argues makes a direct clinical comparison inappropriate and potentially misleading.
Additionally, Bayer contends that the study suffered from significant sample imbalance. The analysis reportedly included five times as many Erleada patients as Nubeqa patients, a disparity that Bayer says introduced statistical bias and undermined the validity of the findings.
Bayer is pursuing the case under the Lanham Act, the U.S. law governing false advertising and unfair competition. The company is seeking an immediate halt to J&J’s current marketing campaign and is asking the court to require corrective statements to physicians to address what it characterises as inaccurate claims.
Furthermore, Bayer is seeking monetary damages, arguing that the alleged misleading advertisements have resulted in lost revenue and reputational harm to Nubeqa.
Johnson & Johnson has responded by stating that it stands by the integrity of its data and the rigour of its analysis. The case will now proceed through the U.S. District Court for the Southern District of New York.
