Tuesday October 22, 2019
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India joins hand with Israeli companies for Make in India

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Image source: digitalindiainsight.com

New Delhi: Make in India program is progressing fastly. More than 25 Indian and 100 Israeli companies will accumulate this month for a seminar on defence and security in Israel.

SIBAT, the Israel Ministry of defence international defence cooperation and directorate, and FICCI together will organize the seminar on Feb 21-25.

A press communique said that the seminar will mainly focus on cooperation and risks between micro, small and medium enterprises on both sides.

The seminar will highlight the potential of Make in India and will deal with the Defence Procurement Procedure (DPP) 2016 with a special focus between industries in India and Israel.

Around 500 B2B meetings will take place in the seminar.

The next seminar will be expected in Chennai later this year.

Ambassador Daniel Carmon said: “Our growing relations with India range on a wide spectrum of sectors from defence to water, agriculture IT, R&D…In the field of defence, Israel has proven more than once in the past as a reliable strategic partner and that we are open for the concept of transfer of advanced technology and joint development.”

Make In India is one of the key campaigns of Prime Minister Narendra Modi and the Indian government.(IANS)

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Drug Companies Reach $215 Million Settlement to Avoid Trial over their Role in Deadly Opioid Addiction Crisis

The case has been viewed as a harbinger for similar lawsuits filed by more than 2,700 local and state governments across the country in hopes

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Drug, Companies, Opioid
Summit county executive Ilene Shapiro speaks to the media outside the U.S. Federal courthouse, Oct. 21, 2019, in Cleveland. VOA

A major pharmaceutical company and three of the biggest drug distributors in the U.S. have reached a $260 million settlement with two counties in Ohio to avoid a trial over their role in the deadly opioid addiction crisis gripping America.

The deal, struck Monday, came just hours before the opening arguments in a court in Cleveland, Ohio. The case has been viewed as a harbinger for similar lawsuits filed by more than  2,700 local and state governments across the country in hopes of recouping damages from the crisis.

Drug distributors McKesson, Cardinal Health and AmerisourceBergen will pay $215 million in reparations. Israeli drug manufacturer Teva will pay $20 million in cash and also contribute $25 million worth of Suboxone, used to treat opioid addiction.

“People can’t lose sight of the fact that the counties got a very good deal for themselves, but we also set an important national benchmark for the others,” said Hunter Shkolnik, a lawyer for Cuyahoga County.

Drug, Companies, Opioid
The deal, struck Monday, came just hours before the opening arguments in a court in Cleveland, Ohio. Pixabay

Cuyahoga and Summit counties had brought the lawsuit that accused the four companies of fueling a nationwide opioid crisis.

According to U.S. government data, opioids have led to some 400,000 overdose deaths between 1997 and 2017.

Lawyers say the settlement will provide local governments with the finances needed to establish opioid-recovery programs.

Also Read- Sony Unveils its New Premium Compact Camera in India

Attempts to reach a nationwide settlement broke down last week after cities and counties suing the drug companies rejected an offer of $48 billion in cash, treatment drugs and services. (VOA)