Lupin gains after signing pact with Japanese pharma firm - The New Indian Express

Lupin gains after signing pact with Japanese pharma firm

Published: 23rd April 2014 12:19 PM

Last Updated: 23rd April 2014 12:19 PM

Pharma major, Lupin gained on Wednesday after it entered into a strategic joint venture agreement with Toyama based Japanese pharmaceuticals company, Yoshindo Inc. (Yoshindo) to create a new entity, YL Biologics (YLB).

YLB will be jointly managed by both partners and will be responsible for conducting clinical development of certain Biosimilars including regulatory filings and obtaining marketing authorizations in Japan. Shares ofthe companyare trading at Rs 989.85, up Rs 7.7, or 0.78% at the Bombay Stock Exchange (BSE) on Wednesday at 11:37 a.m.The scrip has touched an intra-day high of Rs 992 and low of Rs 976.30. The total volume of shares traded at the BSE is 31,234.In the earlier session, the shares gained 2.68%, or Rs 25.6, at Rs 982.15. Currently, the stock is trading down 2.19% from its 52-week high of Rs 1,012 and above 47.03% over the 52-week low of Rs 673.25.

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