Nexa to account for 15% sales by 2020: Maruti

New Delhi
Maruti Suzuki India Ltd said on Thursday it expects its premium Nexa showrooms to contribute around 15% of the company's sales by 2020. It hopes to have about 250 of such outlets by March 2017. Launched in July 2015, Nexa on Thursday completed one year of operations. It currently has 150 outlets across 94 cities. tns

New Delhi
Sun Pharma, Almirall enter into licensing pact

Drug major Sun Pharmaceutical and Spanish firm Almirall have entered into a licensing pact for development and commercialisation of tildrakizumab used for treatment of psoriasis in Europe. “Under terms of the licence agreement, Almirall will pay Sun Pharma an initial upfront payment of $50 million,” the two companies said. pti 

New Delhi
Cognizant acquires Toronto-based Idea Couture

Software services major Cognizant has acquired Toronto-based Idea Couture for an undisclosed amount to boost its digital technologies offering. Terms of the deal were not disclosed. pti

Frankfurt
Volkswagen’s net profit falls 57% in Q2

Scandal-hit Volkswagen said on Thursday its profit fell in the second quarter by 57% to $1.3 billion. Second-quarter profits were weighed down by almost 2.5 billion euros of special items, mostly related to 2015’s diesel emissions cheating scandal. afp