Funding boost in the shopping cart for BigBasket. Pharma firms may face tougher marketing prescriptions soon. Snowden gets Russian citizenship and NASA spaceship slams into an asteroid to check if it can be moved/
This is the Daily Edit from the economic times your quick capsule of daily business news. It is September 27. And here is what we are tracking starting from the startup corner. Et learns exclusively that online grocer bigbasket has begun the process for a new round of funding that is likely to value the Tata digital owned firm at around three to $3.5 billion, said three people briefed on the matter. bigbasket latest financing is likely to come from Tata digital and existing shareholders. While the size of the round hasn't been finalized, it's likely to be in the range of $200 million or more As per sources. Pharmaceutical companies could face legal action if they are found to be involved in unethical marketing practices. A high level committee formed underneath the eye yolks. Week a Paul will meet this week to review the regulatory framework around marketing practices in the pharma sector. The committee has been formed by the Health Minister Mansukh Mandaviya after reports that companies are spending exorbitantly on promotion of drugs. The committee will also examine the related issues on the requirement of legally enforceable mechanism for regulating marketing practices, including study of the practices across the globe. In overseas news, Russian President Vladimir Putin has granted former NSA contractor Edward Snowden Russian citizenship. According to an official decree published on the Russian Government portal on Monday, Snowden 39 has been in asylum in Russia after he fled the United States nine years ago when he exposed the scale of secret surveillance operations by the National Security Agency from overseas to outer space. For the first time in history, a spacecraft from Earth has crashed into an asteroid to test a way to save our planet from extinction. The spacecraft NASA double asteroid rendezvous test or DART probe slammed into an asteroid 11 million kilometers from Earth. The collision was intentional and designed to test whether space rocks that might threaten Earth could be nudged safely out of the way. You have been listening to Roopsha Dasguupta, tune into et play Economic Times latest platform for all audio content.
ET Play/opinion the daily edit/news capsule