Jubilant enters into research collaboration with AstraZeneca
Press Trust Of India / Mumbai May 05, 2009, 11:43 IST
Pharmaceutical firm Jubilant Organosys today said it has entered into a research collaboration agreement with UK-based AstraZeneca.
In a filing to the Bombay Stock Exchange, Jubilant Organosys said its subsidiary Jubilant Biosys has signed an agreement with AstraZeneca, under which the former would be eligible to receive research funding for an initial five-year period.
"Through this partnership, Jubilant is confident of contributing to AstraZeneca's pre-clinical portfolio and anticipates significant rewards from successful downstream milestones," Jubilant Organosys CMD Shyam S Bhartia and Co-Chairman and MD Hari S Bhartia said.
The agreement will help Jubilant focus on the field of neuroscience.
"This collaboration complements our internal capabilities and increases the capacity of our pre-clinical programmes," AstraZeneca Executive Vice-President (Global Discovery) Jan Lundberg said.
Shares of Jubilant Organosys were trading at Rs 130, up 10.83 per cent on the BSE.
Content Guide
