Part 9 of our 'Word on the Street' column, which gets you the unreported chatter from the world of business and markets, put together by our fly-on-the-wall reporters.
USFDA UPS ANTE ON COMPLIANCE
The USFDA audits are now going beyond just compliance with current good manufacturing practices (cGMP) at manufacturing plants. Now inspectors routinely visit corporate offices and are also poring through the emails and social media accounts that are supposed to act as an interface between the company and outside world. These inspections are meant to scrutinize the practices and procedures for reporting of adverse events, as part of post-marketing surveillance. The audit is so extensive, that even the corporate communication teams are not spared. The agency expects companies to have SOPs or standard operating procedures to flag news reports, social media posts and comments below appearing in a negative light mentioning the company's products sold in the US Jobs of communication personnel has just got tougher.
SIBLING RIVALRY A GOLDMINE FOR PR FIRMS?
The recent misunderstandings between two siblings of a large corporate house have provided a good business opportunity for PR firms. Not only are some of the large firms getting ready to pitch in with their expertise in crisis communication, but the key here is also to ensure that no news leaks to the press. On the other hand, existing clients servicing teams for companies that are on the brink of another conflict are also being expanded, offering the above case as an example.
InvITs or infrastructure investment trusts are clearly the flavour of the season. Low-risk asset monetization and tax sops for investors are the twin benefits of this instrument which has been lapped up by heavyweights like Reliance Industries, Larsen & Toubro & Piramal Enterprises. The Tata Group is also learnt to be keen on the InvIT model for its renewable energy assets. But what about the cousin? REIT’s or real estate investment trusts. Investor’s had given a thumbs up to the Embassy Office Parks REIT listing which was backed by Blackstone earlier this year. A little birdie tells us a Delhi-headquartered conglomerate with significant interests in telecom is also evaluating the REIT model for its real estate arm which has recently bagged land development rights near the airport. The timing couldn’t have been better!
(Contributed by Ashwin Mohan, M Saraswathy and Viswanath Pilla.)Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.The Great Diwali Discount!
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